Exhibit 12
ILLINOIS POWER COMPANY | ||||||||||
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO | ||||||||||
FIXED CHARGES | ||||||||||
(Thousands of Dollars) | ||||||||||
For the year Ended December 31, | ||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||
Earnings Available for Fixed Charges: | ||||||||||
Earnings before cumulative effect of change in accounting principle: | $119,407 | $160,695 | $166,179 | $134,935 | $113,089 | |||||
Add: | ||||||||||
Income Taxes: | ||||||||||
Current | (639) | 15,486 | 15,859 | (102,704) | 47,639 | |||||
Deferred - Net | 14,416 | 25,212 | 25,619 | 111,935 | 8,083 | |||||
Allocated income taxes | 63,642 | 64,933 | 76,693 | 75,047 | 16,992 | |||||
Investment tax credit - deferred | (1,396) | (1,422) | (950) | (982) | (1,339) | |||||
Income tax effect of CPS impairment | - | - | - | - | - | |||||
Interest on long-term debt | 146,045 | 94,738 | 104,861 | 115,329 | 124,261 | |||||
Amortization of debt expense and | ||||||||||
premium-net, and other interest charges | 17,751 | 18,135 | 18,638 | 23,795 | 24,190 | |||||
One-third of all rentals (Estimated to be | ||||||||||
representative of the interest component) | 1,895 | 2,442 | 2,250 | 3,285 | 3,836 | |||||
Interest on in-core fuel | - | - | - | - | 4,424 | |||||
Earnings (loss) available for fixed charges | $361,121 | $380,219 | $409,149 | $360,640 | $341,175 | |||||
Fixed charges: | ||||||||||
Interest on long-term debt | $146,045 | $94,738 | $104,861 | $115,329 | $124,261 | |||||
Amortization of debt expense and | ||||||||||
premium-net, and other interest charges | 17,751 | 18,135 | 18,638 | 23,795 | 29,830 | |||||
One-third of all rentals (Estimated to be | ||||||||||
representative of the interest component) | 1,895 | 2,442 | 2,250 | 3,285 | 3,836 | |||||
Total Fixed Charges | $165,691 | $115,315 | $125,749 | $142,409 | $157,927 | |||||
Ratio of earnings to fixed charges | 2.18 | 3.30 | 3.25 | 2.53 | 2.16 | |||||