Illinois Power Generating 10K 2012 Annual report | SEC Filing

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	Year Ended December 31,
	2008		2009		2010			^(a)	2011		2012
Earnings available for fixed charges, as defined:
Net income (loss) attributable to Ameren Energy Generating Company	$	286,467	$	159,869	$	(38,573	)		$	44,153	$	(32,941	)
Net income (loss) attributable to noncontrolling interest	28,424		2,007		3,366				1,061		(6,898		)
Tax expense (benefit) based on income (loss)	182,116		101,148		19,422				32,285		(29,104		)
Fixed charges excluding capitalized interest^(b)	55,312		61,218		77,642				61,975		52,311
Amortization of capitalized interest	664		949		1,099				1,153		1,476
Earnings available for fixed charges, as defined	$	552,983	$	325,191	$	62,956			$	140,627	$	(15,156	)
Fixed charges, as defined:
Interest expense on short-term and long-term debt^(b)	$	54,320	$	58,887	$	74,290			$	59,033	$	49,457
Capitalized interest	10,263		11,631		5,672				2,886		13,469
Estimated interest cost within rental expense	232		307		295				284		279
Amortization of net debt premium, discount, and expenses	760		2,024		3,057				2,658		2,575
Total fixed charges, as defined	$	65,575	$	72,849	$	83,314			$	64,861	$	65,780
Consolidated ratio of earnings to fixed charges	8.43		4.46		—			^(c)	2.17		—			^(d)


(a)	Effective January 1, 2010, Ameren Energy Generating Company (Genco) acquired an 80% ownership interest in Electric Energy Inc. (EEI) from an Ameren Corporation subsidiary as a result of an internal reorganization. In accordance with authoritative guidance, periods presented reflect the combined Genco and EEI results.


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


(c)	Earnings were inadequate to cover fixed charges by $20 million for the year ended December 31, 2010. In the third quarter of 2010, Genco recorded an impairment charge of $170 million related to long-lived assets, goodwill and intangible assets. See Note 11 - Impairment and Other Charges under Part II, Item 8, of this Form 10-K for additional information.


(d)	Earnings were inadequate to cover fixed charges by $81 million for the year ended December 31, 2012. In 2012, Genco recorded an asset impairment charge of $70 million to reduce the carrying value of the Elgin energy center to its estimated fair value. See Note 11 - Impairment and Other Charges under Part II, Item 8, of this Form 10-K for additional information.

Illinois Power Generating Inactive 10-K2012 FY Annual report

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