Exhibit 12(b)
Entergy Gulf States, Inc.
Computation of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
1996 1997 1998 1999 2000
Fixed charges, as defined:
Total Interest charges $193,890 $180,073 $178,220 $153,034 $158,949
Interest applicable to rentals 14,887 15,747 16,927 16,451 18,307
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Total fixed charges, as defined 208,777 195,820 195,147 169,485 177,256
Preferred dividends, as defined (a) 48,690 30,028 32,031 29,355 15,742
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Combined fixed charges and preferred dividends, as defined $257,467 $225,848 $227,178 $198,840 $192,998
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Earnings as defined:
Income (loss) from continuing operations before extraordinary
items and the cumulative effect of accounting changes ($3,887) $59,976 $46,393 $125,000 $180,343
Add:
Income Taxes 102,091 22,402 31,773 75,165 103,603
Fixed charges as above 208,777 195,820 195,147 169,485 177,256
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Total earnings, as defined (b) $306,981 $278,198 $273,313 $369,650 $461,202
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Ratio of earnings to fixed charges, as defined 1.47 1.42 1.40 2.18 2.60
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.19 1.23 1.20 1.86 2.39
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(a) "Preferred dividends," as defined by SEC regulation S-K, are computed
by dividing the preferred dividend requirement by one hundred percent
(100%) minus the income tax rate.
(b) Earnings for the year ended December 31, 1994, for GSU were not
adequate to cover fixed charges combined fixed charges and preferred
dividends by $144.8 million and $197.1 million, respectively.