Exhibit 99 (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, March 31,
1990 1991 1992 1993 1994 1995
Fixed charges, as defined:
Interest on long-term debt $230,644 $218,538 $196,618 $184,818 $162,517 $157,249
Interest on notes payable 0 0 0 0 88 111
Amortization of expense and premium on debt-net 10,532 7,495 6,417 4,520 6,731 6,571
Interest applicable to rentals 13,830 10,007 6,265 6,790 7,546 7,000
Other interest charges 1,460 3,617 1,506 1,600 7,168 9,466
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Total fixed charges, as defined $256,466 $239,657 $210,806 $197,728 $184,050 $180,397
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Earnings as defined:
Net Income $168,677 $104,622 $130,141 $93,927 $5,407 $6,422
Add:
Provision for income taxes:
Federal and State 4,620 (26,848) 35,082 48,314 67,477 75,581
Deferred Federal and State - net 52,962 37,168 23,648 60,690 (27,374) 5,833
Investment tax credit adjustment - net 56,320 63,256 30,123 (30,452) (3,265) (3,265)
Fixed charges as above 256,466 239,657 210,806 197,728 184,050 180,397
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Total earnings, as defined $539,045 $417,855 $429,800 $370,207 $226,295 $264,968
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Ratio of earnings to fixed charges, as defined 2.10 1.74 2.04 1.87 1.23 1.47
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