Exhibit 12.4
Ameren Energy Generating Company
Computation of Ratio of Earnings to Fixed Charges
(Thousands of Dollars, Except Ratios)
Nine Months Ended September 30, 2010 (a) | Year Ended December 31, 2009 (b) | |||||||
Net income (loss) from continuing operations attributable to Ameren Energy Generating Company | $ | (64,521) | $ | 166,372 | ||||
Less- Net income attributable to noncontrolling interest | (3,412) | (2,007) | ||||||
Add- Taxes based on income | 9,727 | 101,148 | ||||||
Net income (loss) before income taxes and noncontrolling interest | (51,382) | 269,527 | ||||||
Add- fixed charges: | ||||||||
Interest on short-term and long-term debt(c) | 58,476 | 60,045 | ||||||
Estimated interest cost within rental expense | 224 | 307 | ||||||
Amortization of net debt premium, discount, and expenses | 823 | 866 | ||||||
Total fixed charges | 59,523 | 61,218 | ||||||
Earnings available for fixed charges | $ | 8,141 | $ | 330,745 | ||||
Ratio of earnings to fixed charges | — | 5.40 | ||||||
(a) | Earnings are inadequate to cover fixed charges by $51,000 for the nine months ended September 30, 2010. In the third quarter of 2010, Ameren Energy Generating Company recorded a goodwill and other impairment charge of $170 million. See Note 15—Goodwill and Other Asset Impairments of this Form 10-Q for additional information. |
(b) | Effective January 1, 2010, Ameren Energy Generating Company (Genco) acquired an 80% ownership interest in Electric Energy Inc. (EEI) from an Ameren subsidiary as a result of an internal re-organization. In accordance with authoritative guidance, both periods presented reflect the combined Genco and EEI results. |
(c) | Includes interest expense related to uncertain tax positions |