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Ameren Corporation
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Year Ended December 31, | Nine Months Ended September 30, 2017 | |||||||||||||||||
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| 2012 | 2013 | 2014 | 2015(a) | 2016 | ||||||||||||||
Earnings available for fixed charges, as defined: | |||||||||||||||||||
Net income from continuing operations attributable to Ameren Corporation | $ | 516 | $ | 512 | $ | 587 | $ | 579 | $ | 653 | $ | 583 | |||||||
Loss from equity investee | — | — | — | — | 4 | 1 | |||||||||||||
Distributed income from equity investee | — | — | 1 | — | — | — | |||||||||||||
Tax expense based on income | 307 | 311 | 377 | 363 | 382 | 376 | |||||||||||||
Fixed charges excluding capitalized interest and subsidiary preferred stock dividends tax adjustment(b)(c) | 474 | 449 | 379 | 381 | 407 | 312 | |||||||||||||
Amortization of capitalized interest(c) | 3 | 1 | — | — | — | — | |||||||||||||
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Earnings available for fixed charges, as defined | $ | 1,300 | $ | 1,273 | $ | 1,344 | $ | 1,323 | $ | 1,446 | $ | 1,272 | |||||||
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Fixed charges, as defined: | |||||||||||||||||||
Interest expense on short-term and long-term debt(b) | $ | 441 | $ | 415 | $ | 348 | $ | 350 | $ | 375 | 288 | ||||||||
Capitalized interest(c)(d) | 13 | 17 | — | — | — | — | |||||||||||||
Estimated interest cost within rental expense | 3 | 4 | 3 | 3 | 4 | 3 | |||||||||||||
Amortization of net debt premium, discount, and expenses | 24 | 24 | 22 | 22 | 22 | 16 | |||||||||||||
Subsidiary preferred stock dividends | 6 | 6 | 6 | 6 | 6 | 5 | |||||||||||||
Adjust preferred stock dividends to pretax basis | 4 | 4 | 4 | 4 | 4 | 3 | |||||||||||||
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Total fixed charges, as defined | $ | 491 | $ | 470 | $ | 383 | $ | 385 | $ | 411 | 315 | ||||||||
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Consolidated ratio of earnings to fixed charges | 2.6 | 2.7 | 3.5 | 3.4 | 3.5 | 4.0 | |||||||||||||
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- (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 the Form 10-K for the year ended December 31, 2016, for additional information.
- (b)
- Includes net interest related to uncertain tax positions.
- (c)
- All capitalized interest is associated with discontinued operations.
- (d)
- Excludes allowance for funds used during construction.
Ameren Corporation Computation of Ratio of Earnings to Fixed Charges (in millions, except ratios)