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
12 months
1994 1995 1996 1997 1998 March 1999
Fixed charges, as defined:
Total Interest charges $204,134 $200,224 $193,890 $180,073 $178,220 $175,029
Interest applicable to rentals 21,539 16,648 14,887 15,747 16,927 16,853
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Total fixed charges, as defined 225,673 216,872 208,777 195,820 195,147 191,882
Preferred dividends, as defined (a) 52,210 44,651 48,690 30,028 32,031 31,838
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Combined fixed charges and preferred dividends, as defined $277,883 $261,523 $257,467 $225,848 $227,178 $223,720
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Earnings as defined:
Income (loss) from continuing operations before extraordinary
items and the cumulative effect of accounting changes ($82,755) $122,919 ($3,887) $59,976 $46,393 $45,074
Add:
Income Taxes (62,086) 63,244 102,091 22,402 31,773 31,994
Fixed charges as above 225,673 216,872 208,777 195,820 195,147 191,882
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Total earnings, as defined (b) $80,832 $403,035 $306,981 $278,198 $273,313 $268,950
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Ratio of earnings to fixed charges, as defined 0.36 1.86 1.47 1.42 1.40 1.40
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 0.29 1.54 1.19 1.23 1.20 1.20
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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.