EXHIBIT 12(a)
UNION ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
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1989 1990 1991 1992 1993
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(Thousands of Dollars Except Ratios)
Net Income for the Period $285,605 $294,219 $321,512 $302,748 $297,160
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Taxes Based on Income 181,793 191,532 218,954 197,009 182,716
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Fixed Charges:
Interest on Debt 172,288 183,215 163,061 125,798 124,430
Amortization of Premium
and Discount, Less
Expense, on Debt; and
Bond Defeasance Cost 4,283 4,369 4,148 9,521 5,170
Rentals (See Note) 1,040 1,114 1,171 908 1,314
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Total Fixed Charges 177,611 188,698 168,380 136,227 130,914
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Earnings Available for Fixed
Charges $645,009 $674,449 $708,846 $635,984 $610,790
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Ratio of Earnings to Fixed
Charges 3.63 3.57 4.21 4.66 4.66
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Note: Represents the interest factor applicable to rentals.