Exhibit 99(b)
Entergy Gulf States, Inc.
Computation of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
March 31,
1992 1993 1994 1995 1996 1997
Fixed charges, as defined:
Interest on long-term debt $197,218 $172,494 $167,082 $181,994 $172,191 $167,870
Interest on notes payable 21,155 19,440 20,203 810 800 749
Other interest 26,564 10,561 7,957 8,074 12,019 13,857
Amortization of expense and premium on debt-net(cr) 3,479 8,104 8,892 9,346 7,455 10,274
Dividends on preferred securities of subsidiary trust -- -- -- -- -- 1,322
Interest applicable to rentals 23,759 23,455 21,539 16,648 14,887 13,860
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Total fixed charges, as defined 272,175 234,054 225,673 216,872 207,352 207,932
Preferred dividends, as defined (a) 69,617 65,299 52,210 44,651 48,690 42,994
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Combined fixed charges and preferred dividends, as defined $341,792 $299,353 $277,883 $261,523 $256,042 $250,926
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Earnings as defined:
Income (loss) from continuing operations before
extraordinary items and the cumulative effect of
accounting changes $139,413 $69,462 ($82,755) $122,919 ($3,887) 180,905
Add:
Income Taxes 55,860 58,016 (62,086) 63,244 102,091 128,728
Fixed charges as above 272,175 234,054 225,673 216,872 207,352 207,932
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Total earnings, as defined (b) $467,448 $361,532 $80,832 $403,035 $305,556 $517,565
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Ratio of earnings to fixed charges, as defined 1.72 1.54 0.36 1.86 1.47 2.49
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.37 1.21 0.29 1.54 1.19 2.06
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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.