Ameren (AEE) 10-K2016 FY Annual report

Filed: 28 Feb 17, 12:00am

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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)




	2012		2013		2014		2015^(a)		2016
Earnings available for fixed charges, as defined:
Net income	$	419,950	$	398,523	$	393,676	$	355,736	$	360,210
Tax expense based on income	251,736		241,657		228,480		208,740		216,121
Fixed charges ^(b)	241,529		229,720		232,293		235,285		227,844
Earnings available for fixed charges, as defined	$	913,215	$	869,900	$	854,449	$	799,761	$	804,175
Fixed charges, as defined:
Interest expense on short-term and long-term debt ^(b)	$	231,679	$	218,725	$	220,648	$	224,418	$	217,069
Estimated interest cost within rental expense	3,445		3,534		4,806		4,500		4,680
Amortization of net debt premium, discount, and expenses	6,405		7,461		6,839		6,367		6,095
Total fixed charges, as defined	$	241,529	$	229,720	$	232,293	$	235,285	$	227,844
Ratio of earnings to fixed charges	3.78		3.79		3.68		3.40		3.53
Earnings required for combined fixed charges and preferred stock dividends:
Preferred stock dividends	$	3,420	$	3,420	$	3,420	$	3,420	$	3,420
Adjustment to pretax basis	2,050		2,074		1,985		2,007		2,052
	$	5,470	$	5,494	$	5,405	$	5,427	$	5,472

Combined fixed charges and preferred stock dividend requirements	$	246,999	$	235,214	$	237,698	$	240,712	$	233,316
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	3.70		3.70		3.59		3.32		3.45


(a)	Includes a $69 million provision for the Callaway construction and operating license. See Note 2 - Rate and Regulatory Matters under Part II, Item 8, of this Form 10-K for additional information.


(b)	Includes net interest related to uncertain tax positions.