EXHIBIT 12
ILLINOIS POWER COMPANY
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(Thousands of Dollars)
Quarter Ended March 31, | ||||||||
2002 | 2003 | |||||||
Earnings Available for Fixed Charges: | ||||||||
Net income (loss) from continuing operations | $ | 34,482 | $ | 34,454 | ||||
Add: | ||||||||
Income Taxes: | ||||||||
Current | (11,974 | ) | 2,180 | |||||
Deferred—Net | 19,392 | 5,646 | ||||||
Allocated income taxes | 16,974 | 16,674 | ||||||
Investment tax credit—deferred | (318 | ) | (353 | ) | ||||
Interest on long-term debt | 23,609 | 39,131 | ||||||
Amortization of debt expense and premium-net, and other interest charges | 3,883 | 3,557 | ||||||
One-third of all rentals (Estimated to be representative of the interest component) | 558 | 346 | ||||||
Earnings (loss) available for fixed charges | $ | 86,606 | $ | 101,635 | ||||
Fixed charges: | ||||||||
Interest on long-term debt | $ | 23,609 | $ | 39,131 | ||||
Amortization of debt expense and premium-net, and other interest charges | 3,883 | 3,557 | ||||||
One-third of all rentals (Estimated to be representative of the interest component) | 558 | 346 | ||||||
Total Fixed Charges | $ | 28,050 | $ | 43,034 | ||||
Ratio of earnings to fixed charges | 3.09 | x | 2.36 | x | ||||