Exhibit 12(f)
System Energy Resources, Inc.
Computation of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Fixed Charges
Twelve Months Ended December 31,
1990 1991 1992 1993 1994
Fixed charges, as defined:
Interest on mortgage bonds $138,689 $126,351 $104,429 $91,472 $79,025
Interest on other long-term debt 91,955 92,187 92,189 93,346 83,492
Interest on notes payable 0 0 0 0 88
Amortization of expense and premium on debt-net 10,532 7,495 6,417 4,520 6,731
Interest applicable to rentals 13,830 10,007 6,265 6,790 7,546
Other interest charges 1,460 3,617 1,506 1,600 7,168
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Total fixed charges, as defined $256,466 $239,657 $210,806 $197,728 $184,050
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Earnings as defined:
Net Income $168,677 $104,622 $130,141 $93,927 $5,407
Add:
Provision for income taxes:
Federal and State 4,620 (26,848) 35,082 48,314 67,477
Deferred Federal and State - net 52,962 37,168 23,648 60,690 (27,374)
Investment tax credit adjustment - net 56,320 63,256 30,123 (30,452) (3,265)
Fixed charges as above 256,466 239,657 210,806 197,728 184,050
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Total earnings, as defined $539,045 $417,855 $429,800 $370,207 $226,295
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Ratio of earnings to fixed charges, as defined 2.10 1.74 2.04 1.87 1.23
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