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
December 31,
1991 1992 1993 1994 1995 1996
Fixed charges, as defined:
Interest on long-term debt $201,335 $197,218 $172,494 $167,082 $181,994 $172,191
Interest on notes payable 27,953 21,155 19,440 20,203 810 800
Other interest 29,169 26,564 10,561 7,957 8,074 12,019
Amortization of expense and premium on
debt-net(cr) 1,999 3,479 8,104 8,892 9,346 7,455
Interest applicable to rentals 24,049 23,759 23,455 21,539 16,648 14,887
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Total fixed charges, as defined 284,505 272,175 234,054 225,673 216,872 207,352
Preferred dividends, as defined (a) 90,146 69,617 65,299 52,210 44,651 48,690
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Combined fixed charges and preferred
dividends, as defined $374,651 $341,792 $299,353 $277,883 $261,523 $256,042
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Earnings as defined:
Income (loss) from continuing operations before extraordinary items and
the cumulative effect of accounting changes $112,391 $139,413 $69,462 ($82,755) $122,919 ($3,887)
Add:
Income Taxes 48,250 55,860 58,016 (62,086) 63,244 102,091
Fixed charges as above 284,505 272,175 234,054 225,673 216,872 207,352
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Total earnings, as defined (b) $445,146 $467,448 $361,532 $80,832 $403,035 $305,556
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Ratio of earnings to fixed charges, as defined 1.56 1.72 1.54 0.36 1.86 1.47
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.19 1.37 1.21 0.29 1.54 1.19
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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.