Exhibit 12 CENTRAL ILLINOIS PUBLIC SERVICE COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE FIVE YEARS ENDED DECEMBER 31, 1997 (in thousands) = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = 1997 1996 1995 1994 1993 --------- --------- --------- --------- --------- Net income. . . . $ 38,620 $ 77,393 $ 70,631 $ 81,913 $ 84,011 Add--Extraordinary items net of tax 24,853 - - - - --------- --------- --------- --------- --------- Net income from continuing operations . . $ 63,473 $ 77,393 $ 70,631 $ 81,913 $ 84,011 Add--Federal and state income taxes: Current . . . . 38,660 53,847 41,276 38,097 50,441 Deferred (net). (1,665) (2,805) 5,627 13,190 1,674 Investment tax credit amortization . (3,334) (3,349) (3,361) (3,367) (3,366) Income tax applicable to nonoperating activities . . 261 (407) 941 603 631 --------- --------- --------- ---------- --------- 33,922 47,286 44,483 48,523 49,380 --------- --------- --------- ---------- --------- Net income before income taxes. . . . . . 97,395 124,679 115,114 130,436 133,391 --------- --------- --------- ---------- --------- Add--Fixed charges Interest on long-term debt (a) . . . 32,271 31,409 31,168 31,164 32,823 Other interest. 2,875 4,636 853 358 479 Amortization of net debt premium, discount, expense and loss (a) . 1,643 1,709 1,703 1,678 1,598 --------- --------- --------- ---------- --------- 36,789 37,754 33,724 33,200 34,900 --------- --------- --------- ---------- --------- Earnings as defined. . . . . $ 134,184 $ 162,433 $ 148,838 $ 163,636 $ 168,291 ========= ========= ========= ========== ========= Ratio of earnings to fixed charges 3.65 4.30 4.41 4.93 4.82 Earnings required for preferred dividends: Preferred stock dividends. . . $ 3,715 $ 3,721 $ 3,850 $ 3,510 $ 3,718 Adjustment to pre-tax basis. 1,985 2,273 2,425 2,079 2,185 --------- --------- --------- ---------- --------- $ 5,700 $ 5,994 $ 6,275 $ 5,589 $ 5,903 Fixed charges plus preferred stock dividend requirements . . $ 42,489 $ 43,748 $ 39,999 $ 38,789 $ 40,803 ========= ========= ========= ========== ========= Ratio of earnings to fixed charges plus preferred stock dividend requirements . . 3.16 3.71 3.72 4.22 4.12 _________________________ (a) Combined as interest charges on long-term debt on Statement of Income.