Exhibit 12 CENTRAL ILLINOIS PUBLIC SERVICE COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS BEFORE INCOME TAXES (in thousands) 12 Months Ended __________________________________________________________ December 31, March 31, ________________________________________________ 1997 1996 1995 1994 1993 1992 ________ ________ ________ ________ ________ ________ Net income......$ 71,167 $ 77,393 $ 70,631 $ 81,913 $ 84,011 $ 72,601 Add--Federal and state income taxes: Current........ 49,777 53,847 41,276 38,097 50,441 6,110 Deferred(net) (3,146) (2,805) 5,627 13,190 1,674 33,998 Investment tax credit amortization.. (3,345) (3,349) (3,361) (3,367) (3,366) (3,336) Income tax applicable to nonoperating activities.... (505) (407) 941 603 631 2,989 ________ ________ ________ ________ ________ ________ 42,781 47,286 44,483 48,523 49,380 39,761 ________ ________ ________ ________ ________ ________ Net income before income taxes........... 113,948 124,679 115,114 130,436 133,391 112,362 ________ ________ ________ ________ ________ ________ Add--Fixed charges Interest on long-term debt......... 30,928 31,409 31,168 31,164 32,823 35,534 Interest on provision for revenue refunds..... - - - - _ (803) Other interest 4,821 4,636 853 358 479 392 Amortization of net debt premium and discount.. 1,712 1,709 1,703 1,678 1,598 863 ________ ________ ________ ________ ________ ________ 37,461 37,754 33,724 33,200 34,900 35,986 ________ ________ ________ ________ ________ ________ Earnings as defined....... $151,409 $162,433 $148,838 $163,636 $168,291 $148,348 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges....... 4.04 4.30 4.41 4.93 4.82 4.12 Earnings required for preferred dividends: Preferred stock dividends.. $ 3,695 $ 3,721 $ 3,850 $ 3,510 $ 3,718 $ 4,549 Adjustment to pre-tax basis*...... 2,221 2,273 2,425 2,079 2,185 2,491 ________ ________ ________ ________ ________ ________ $ 5,916 $ 5,994 $ 6,275 $ 5,589 $ 5,903 $ 7,040 ________ ________ ________ ________ ________ ________ Fixed charges plus preferred stock dividend requirements... $ 43,377 $ 43,748 $ 39,999 $ 38,789 $ 40,803 $ 43,026 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges plus preferred stock dividend requirements...... 3.49 3.71 3.72 4.22 4.12 3.45 * An additional charge equivalent to earnings required to adjust dividends on preferred stock to a pre-tax basis (See below.) { Net income before income taxes } { ______________________________ -100% } X preferred dividends = earnings { Net income } required for preferred dividends - 35 -