ILLINOIS POWER COMPANY
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(Thousands of Dollars)
Year Ended December 31, Supplemental **
1991 1992 1993 1993 1994 1995
Earnings Available for Fixed Charges:
Net Income (Loss) $109,244 $122,088 ($56,038) ($56,038) $180,242 $182,713
Add:
Income Taxes:
Current 29,369 22,930 25,260 25,260 58,354 98,578
Deferred - Net 45,990 63,739 82,057 82,057 71,177 34,137
Allocated income taxes (1,348) (6,632) (12,599) (12,599) (8,285) (8,417)
Investment tax credit - deferred (11) (519) (782) (782) (11,331) (6,894)
Income tax effect of disallowed costs - - (70,638) (70,638) - -
Interest on long-term debt 176,179 160,795 154,110 135,115 125,581
Amortization of debt expense and
premium-net, and other interest charges 9,004 12,195 17,007 17,007 15,826 29,558
One-third of all rentals (Estimated to be
representative of the interest component) 4,996 5,117 5,992 5,992 5,847 5,221
Interest on in-core fuel 8,862 8,278 6,174 6,174 7,185 6,716
Disallowed Clinton plant costs - - - 270,956 - -
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Earnings (loss) available for fixed $382,285 $387,991 $150,543 $421,499 $454,130 $467,193
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Fixed charges:
Interest on long-term debt $176,179 $160,795 $154,110 $154,110 $135,115 $125,581
Amortization of debt expense and
premium-net, and other interest charges 25,553 25,785 27,619 27,619 25,381 38,147
One-third of all rentals (Estimated to be
representative of the interest component) 4,996 5,117 5,992 5,992 5,847 5,221
Total Fixed Charges $206,728 $191,697 $187,721 $187,721 $166,343 $168,949
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Ratio of earnings to fixed charges 1.85 2.02 0.80 * 2.25 2.73 2.77
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* Earnings are inadequate to cover fixed charges. Additional earnings
(thousands) of $37,178 for 1993, are required to attain a one-to-one ratio
of Earnings to Fixed Charges.
** Supplemental ratio of earnings to fixed charges presented to exclude
nonrecurring item - Disallowed Clinton plant costs.