EX-12.B 10 exhibit12b.htm EXHIBIT 12B EXHIBIT 12b

 

 

 EXHIBIT 12(b)

 

CLECO POWER LLC
COMPUTATION OF EARNINGS TO FIXED CHARGES
(UNAUDITED)

 

For the
three
months ended

For the
six
months ended

For the
twelve
months ended

June 30, 2003

(Thousands, except ratios)

Earnings from operations

$            15,253

 

$            31,191

 

$          61,286

 

Income taxes

9,481

 

15,909

 

30,677

 

 

 

 

 

 

 

Earnings from operations before income taxes

$            24,734

 

$            47,100

 

$          91,963

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

Interest, long-term debt

$              6,502

 

$            12,492

 

$          24,694

 

Interest, other (including interest on short-term debt)

665

 

1,544

 

4,523

 

Amortization of debt expense, premium, net

384

 

642

 

1,147

 

Portion of rentals representative of an interest factor

124

 

278

 

521

 

 

 

 

 

 

 

Total fixed charges

$              7,675

 

$            14,956

 

$          30,885

 

 

 

 

 

 

 

Earnings from operations before income taxes

 

 

 

 

 

and fixed charges

$            32,409

 

$            62,056

 

$        122,848

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

4.22

x

4.15

x

3.98

x