Exhibit 12
CENTRAL ILLINOIS PUBLIC SERVICE COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS BEFORE INCOME TAXES
(in thousands)
12 Months Ended
__________________________________________________________
December 31,
March,31 ________________________________________________
1998 1997 1996 1995 1994 1993
________ ________ ________ ________ ________ ________
Net income.... $ 36,372 $ 38,620 $ 77,393 $ 70,631 $ 81,913 $ 84,011
Add-Extraordinary
items net of tax. 24,853 24,853 - - - -
________ ________ ________ ________ ________ ________
Net income from
continuing
operations........$ 61,225 $ 63,473 $ 77,393 $ 70,631 $ 81,913 $ 84,011
Add--Federal and
state income taxes:
Current........ 35,807 38,660 53,847 41,276 38,097 50,441
Deferred (net). (3,026) (1,665) (2,805) 5,627 13,190 1,674
Deferred
investment tax
credits, net... (3,335) (3,334) (3,349) (3,361) (3,367) (3,366)
Income tax
applicable to
nonoperating
income.......... 64 261 (407) 941 603 631
________ ________ ________ ________ ________ ________
29,510 33,922 47,286 44,483 48,523 49,380
________ ________ ________ ________ ________ ________
Net income
before income
taxes............. 90,735 97,395 124,679 115,114 130,436 133,391
________ ________ ________ ________ ________ ________
Add--fixed charges:
Interest on
long-term
debt........... 34,188 32,271 31,409 31,168 31,164 32,823
Other interest. 3,112 2,875 4,636 853 358 479
Amortization of
net debt premium,
discount, expenses
and losses..... 1,494 1,643 1,709 1,703 1,678 1,598
________ ________ ________ ________ ________ ________
38,794 36,789 37,754 33,724 33,200 34,900
________ ________ ________ ________ ________ ________
Earnings as
defined...........$129,529 $134,184 $162,433 $148,838 $163,636 $168,291
======== ======== ======== ======== ======== ========
Ratio of earnings
to fixed charges. 3.33 3.64 4.30 4.41 4.92 4.82
Earnings required
for preferred
dividends:
Preferred stock
dividends...... 3,787 3,715 3,721 3,850 3,510 3,718
Adjustment
to pre-tax
basis*......... 1,825 1,985 2,273 2,425 2,079 2,185
________ ________ ________ ________ ________ ________
5,612 5,700 5,994 6,275 5,589 5,903
________ ________ ________ ________ ________ ________
Fixed charges
plus preferred
stock dividend
requirements......$ 44,406 $ 42,489 $ 43,748 $ 39,999 $ 38,789 $ 40,803
======== ======== ======== ======== ======== ========
Ratio of earnings
to fixed charges
plus preferred
stock dividend
requirements...... 2.91 3.15 3.71 3.72 4.21 4.12
* An additional charge equivalent to earnings required to adjust
dividends on preferred stock to a pre-tax basis (See below.)
{ Net income before income taxes }
{ ______________________________ -100% } X preferred dividends = earnings
{ Net income } required
for
preferred
dividends
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