EX-12.3 4 ex12_3.htm EXHIBIT 12.3 CIPS COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.3 CIPS Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.3
 
Central Illinois Public Service Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
         
 
Nine Months
  
Year
  
 
Ended
  
Ended
  
 
September 30,
  
December 31,
  
 
2006
  
2005
  
Net income from continuing operations
$
43,380
  
$
42,998
  
Add- Taxes based on income
  
20,538
   
24,596
 
Net income before income taxes
  
63,918
   
67,594
 
             
Add- fixed charges:
            
Interest on long term debt
  
22,345
   
28,969
 
Estimated interest cost within rental expense
  
466
   
-
 
Amortization of net debt premium, discount,
and expenses
  
733
   
953
 
Total fixed charges
  
23,544
   
29,922
 
             
Earnings available for fixed charges
  
87,462
   
97,516
 
             
Ratio of earnings to fixed charges
  
3.71
   
3.25
 
             
Earnings required for combined fixed
charges and preferred stock dividends:
           
Preferred stock dividends
  
1,884
   
2,512
 
Adjustment to pre-tax basis
  
892
   
1,437
 
   
2,776
   
3,949
 
             
Combined fixed charges and preferred stock
dividend requirements
$
26,320
  
$
33,871
  
             
Ratio of earnings to combined fixed charges
and preferred stock dividend requirements
  
3.32
   
2.87