EX-12.7 8 dex127.htm IP'S STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES IP's Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.7

Illinois Power Company

Computation of Ratio of Earnings to Fixed Charges and Combined

Fixed Charges and Preferred Stock Dividend Requirements

(Thousands of Dollars, Except Ratios)

 

     Nine Months Ended
September 30,
2009		    Year Ended
December 31,
2008

Net income from continuing operations

    $ 61,813    $ 4,970

Add- Taxes based on income

      41,694      4,746
             

Net income before income taxes

      103,507      9,716

Add- fixed charges:

      

Interest on short-term and long-term debt (1)

      73,442      91,143

Estimated interest cost within rental expense

      1,201      701

Amortization of net debt premium, discount, and expenses

      3,275      8,922
             

Total fixed charges

      77,918      100,766
             

Earnings available for fixed charges

      181,425      110,482
             

Ratio of earnings to fixed charges

      2.32      1.09
             

Earnings required for combined fixed charges and preferred stock dividends:

      

Preferred stock dividends

      1,721      2,294

Adjustment to pretax basis

      1,161      2,191
             
     2,882      4,485
             

Combined fixed charges and preferred stock dividend requirements

    $ 80,800    $ 105,251
             

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

      2.24      1.04
             

 

(1)

Includes FIN 48 interest expense