EX-12.1 7 amcex12-1.txt AMEREN'S RATIO OF EARNINGS AMEREN CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS (Millions of Dollars, Except Ratios)
Year Ended December 31, 1998 1999 2000 2001 2002 ---- ---- ---- ---- ---- Net income from continuing operations 386 385 457 476 382 Income taxes 266 253 298 305 237 Fixed charges 206 193 205 223 239 Less: Preference security dividend requirements of consolidated subsidiaries (22) (21) (20) (20) (18) ----- ----- ----- ----- ----- Total earnings 836 810 940 984 840 Fixed Charges: Interest expense 182 168 180 199 219 Estimated interest costs within rental expense 3 4 4 4 3 Preference security dividend requirements of consolidated subsidiaries: Preference dividends of consolidated subsidiaries 13 13 12 12 11 Adjustment to pre-tax basis 9 8 8 8 7 ----- ----- ----- ----- ----- 22 21 20 20 18 Total fixed charges 207 193 204 223 240 Ratio of Earnings to Fixed Charges 4.06 4.20 4.59 4.42 3.51