ILLINOVA CORPORATION
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
Twelve Three
Months Ended Months Ended
As Restated
March March
(Thousands of Dollars)
1999 1999 ** 1999
-------------------------- -------------
Earnings Available for Fixed Charges:
Net Income (Loss) ($1,565,825) ($1,565,825) $21,870
Add:
Income Taxes:
Current (2,533) (2,533) -
Deferred - Net (18,393) (18,393) 14,100
Allocated income taxes (7,393) (7,393) (2,410)
Investment tax credit - deferred (6,897) (6,897) (365)
Income tax effect of CPS impairment (1,143,252) (1,143,252) -
Interest on long-term debt 118,972 118,972 31,085
Amortization of debt expense and
premium-net, and other interest charges 33,528 33,528 12,041
One-third of all rentals (Estimated to be
representative of the interest component) 4,002 4,002 946
Interest on in-core fuel 3,872 3,872 966
FAS 71 Regulatory Write-Offs - - -
CPS Impairment - 2,666,909 -
------------ ----------- -------------
Earnings (loss) available for fixed charges ($2,583,919) $82,990 $78,233
============ =========== =============
Fixed charges:
Interest on long-term debt $118,972 $118,972 $31,085
Amortization of debt expense and
premium-net, and other interest charges 41,410 41,410 13,860
One-third of all rentals (Estimated to be
representative of the interest component) 4,002 4,002 946
------------ ----------- -------------
Total Fixed Charges $164,384 $164,384 $45,891
============ =========== =============
Ratio of earnings to fixed charges N/A * N/A 1.70
============ =========== =============
* Earnings are inadequate to cover fixed charges. Additional earnings (thousands) of $2,748,303 are required to
attain a one-to-one ratio of Earnings to Fixed Charges.
** Supplemental ratio of earnings to fixed charges presented to exclude write-off related to Clinton Impairment.
Additional earnings (thousands) of $81,394 are required to attain a one-to-one ratio of Earnings to Fixed Charges.
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ILLINOIS POWER COMPANY
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
Twelve Three
Months Ended Months Ended
As Restated
March March
(Thousands of Dollars)
1999 1999 ** 1999
-------------------------- --------------
Earnings Available for Fixed Charges:
Net Income (Loss) ($1,559,941) ($1,559,941) $22,911
Add:
Income
Taxes:
Current (2,533) (2,533) -
Deferred - Net (18,393) (18,393) 14,100
Allocated income taxes (2,249) (2,249) (2,121)
Investment tax credit - deferred (6,897) (6,897) (365)
Income tax effect of CPS impairment (1,143,252) (1,143,252) -
Interest on long-term debt 108,562 108,562 28,523
Amortization of debt expense and
premium-net, and other interest charges 32,179 32,179 11,384
One-third of all rentals (Estimated to be
representative of the interest component) 4,002 4,002 946
Interest on in-core fuel 3,872 3,872 966
FAS 71 Regulatory Write-Offs - - -
CPS Impairment - 2,666,909 -
------------- ------------ --------------
Earnings (loss) available for fixed charges ($2,584,650) $82,259 $76,344
============= ============ ==============
Fixed charges:
Interest on long-term debt $108,562 $108,562 $28,523
Amortization of debt expense and
premium-net, and other interest charges 40,061 40,061 13,203
One-third of all rentals (Estimated to be
representative of the interest component) 4,002 4,002 946
------------- ------------ --------------
Total Fixed Charges $152,625 $152,625 $42,672
============= ============ ==============
Ratio of earnings to fixed charges N/A * 0.54 1.79
============= ============ ==============
* Earnings are inadequate to cover fixed charges. Additional earnings (thousands) $2,737,275 are required
to attain a one-to-one ratio of Earnings to Fixed Charges.
** Supplemental ratio of earnings to fixed charges presented to exclude write-off related to Clinton Impairment.
Additional earnings (thousands) of $70,366 are required to attain a one-to-one ratio of Earnings to Fixed Charges.
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