EX-12.A 5 exhibit12a.htm EXHIBIT 12(A) Exhibit 12(a)

CLECO CORPORATION                                                                                                                                                                                                                                                                EXHIBIT 12(a)

 

Computation of Ratios of Earnings to Fixed Charges and of Earnings to Combined
Fixed Charges and Preferred Stock Dividends

   FOR THE THREE
 MONTHS ENDED

FOR THE TWELVE
   
MONTHS ENDED

 

UNAUDITED (THOUSANDS, EXCEPT RATIOS)

MARCH 31, 2005

Earnings from continuing operations

 $    9,575

  $    62,256

 

Income taxes

        5,995

       36,329

 

Earnings from continuing operations before income taxes

 $  15,570

  $    98,585

 

Fixed charges:

 

 

     Interest, long-term debt

 $  10,733

  $    42,870

 

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

           760

         1,799

 

     Amortization of debt expense, premium, net

           626

         2,983

 

     Portion of rentals representative of an interest factor

             79

             282

 

Total fixed charges

 $  12,198

  $    47,934

 

Earnings from continuing operations before income taxes

 $  15,570

  $    98,585

 

     Plus:  total fixed charges from above

      12,198

       47,934

 

     Plus:  amortization of capitalized interest

           102

             407

 

Earnings from continuing operations before income taxes and fixed charges

 $  27,870

  $  146,926

 

Ratio of earnings to fixed charges

          2.28

x

            3.07

x

Total fixed charges from above

      12,198

       47,934

Preferred stock dividends

           512

         2,504

Total fixed charges and preferred stock dividends

      12,710

       50,438

Ratio of earnings to combined fixed charges and preferred stock dividends

          2.19

x

            2.91

x