EX-12 3 h04359exv12.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 ILLINOIS POWER COMPANY STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS)
Year Ended December 31, ----------------------------------------------------------------------- 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- Earnings Available for Fixed Charges: Net Income (Loss) $160,695 $166,179 $134,935 $113,089 ($1,552,435) Add: Income Taxes: Current 15,486 15,859 (102,704) 47,639 7,556 Deferred - Net 25,212 25,619 111,935 8,083 (30,203) Allocated income taxes 64,933 76,693 75,047 16,992 (3,506) Investment tax credit - deferred (1,422) (950) (982) (1,339) (8,256) Income tax effect of CPS impairment -- -- -- -- (1,143,252) Interest on long-term debt 94,738 104,861 115,329 124,261 106,879 Amortization of debt expense and premium-net, and other interest charges 18,135 18,638 23,795 24,190 28,107 One-third of all rentals (Estimated to be representative of the interest component) 2,442 2,250 3,285 3,836 4,054 Interest on in-core fuel -- -- -- 4,424 3,716 -------- -------- -------- -------- ----------- Earnings (loss) available for fixed charges $380,219 $409,149 $360,640 $341,175 ($2,587,340) ======== ======== ======== ======== =========== Fixed charges: Interest on long-term debt $94,738 $104,861 $115,329 $124,261 $ 106,879 Amortization of debt expense and premium-net, and other interest charges 18,135 18,638 23,795 29,830 35,829 One-third of all rentals (Estimated to be representative of the interest component) 2,442 2,250 3,285 3,836 4,054 -------- -------- -------- -------- ----------- Total Fixed Charges $115,315 $125,749 $142,409 $157,927 $ 146,762 ======== ======== ======== ======== =========== Ratio of earnings to fixed charges 3.30 3.25 2.53 2.16 N/A* ======== ======== ======== ======== =========== (1)
* Earnings were inadequate to cover fixed charges. Additional earnings (thousands) of $2,734,102 for 1998 were required to attain a one-to-one ratio of earnings to fixed charges. (1) The ratio of earnings to fixed charges would still be N/A if the write-off related to Clinton Impairment was excluded from the above calculation.