EX-12.2 3 d328507dex122.htm COMPUTATION OF RATIO TO FIXED CHARGES COMPUTATION OF RATIO TO FIXED CHARGES

Exhibit 12.2

Union Electric Company

Computation of Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Three Months Ended
March 31,

2012
     Year Ended
December 31,
2011
 

Earnings available for fixed charges, as defined:

     

Net income from continuing operations

   $ 22,242       $ 290,227   

Taxes based on income

     12,307         160,085   

Fixed charges

     60,933         237,120   
  

 

 

    

 

 

 

Earnings available for fixed charges, as defined

   $ 95,482       $ 687,432   
  

 

 

    

 

 

 

Fixed charges, as defined:

     

Interest expense on short-term and long-term debt (a)

   $ 58,702       $ 227,165   

Estimated interest cost within rental expense

     692         3,608   

Amortization of net debt premium, discount, and expenses

     1,539         6,347   
  

 

 

    

 

 

 

Total fixed charges, as defined

   $ 60,933       $ 237,120   
  

 

 

    

 

 

 

Ratio of earnings to fixed charges

     1.57         2.90   
  

 

 

    

 

 

 

Earnings required for combined fixed charges and preferred stock dividends:

     

Preferred stock dividends

   $ 855       $ 3,420   

Adjustment to pretax basis

     473         1,887   
  

 

 

    

 

 

 
   $ 1,328       $ 5,307   
  

 

 

    

 

 

 

Combined fixed charges and preferred stock dividend requirements

   $ 62,261       $ 242,427   
  

 

 

    

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividend requirements

     1.53         2.84   
  

 

 

    

 

 

 

 

(a)

Includes interest expense related to uncertain tax positions