Exhibit 12.3
Central Illinois Public Service Company
Computation Of Ratio Of Earnings To Fixed Charges And Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)
Year Ended December 31,
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1999 2000 2001 2002 2003
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Net Income $53,980 $79,362 $45,309 $26,355 $28,474
Add- Extraordinary items net of tax - - - - -
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Net income from continuing operations 53,980 79,362 45,309 26,355 28,474
Taxes based on income 30,763 43,661 28,245 16,955 6,245
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Net income before income taxes 84,743 123,023 73,554 43,310 34,719
Add- fixed charges:
Interest on long term debt 38,223 28,935 33,523 38,625 32,338
Other interest 3,373 8,497 4,750 978 780
Amortization of net debt premium, discount,
expenses and losses 1,139 2,880 993 1,076 935
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Total fixed charges 42,735 40,312 39,266 40,679 34,053
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Earnings available for fixed charges 127,478 163,335 112,820 83,989 68,772
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Ratio of earnings to fixed charges 2.98 4.05 2.87 2.06 2.01
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Earnings required for preferred dividends:
Preferred stock dividends 3,833 3,882 3,627 3,158 2,973
Adjustment to pre-tax basis 2,185 2,135 2,260 2,031 651
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6,018 6,017 5,887 5,189 3,624
Fixed charges plus preferred stock dividend
requirements 48,753 46,329 45,153 45,868 37,677
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Ratio of earnings to fixed charges plus
preferred stock dividend requirements 2.61 3.52 2.49 1.83 1.82
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