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 NINE
MONTHS ENDED

 

FOR THE TWELVE
    MONTHS ENDED

 

(THOUSANDS, EXCEPT RATIOS)

SEPTEMBER 30, 2005

 

 

Earnings from continuing operations

 $  42,334

  $    72,607

 

  $    86,413

 

Less:  undistributed equity income from investees

   19,696

 

      18,780

 

      3,407

 

Plus:  income taxes

      21,948

       40,490

 

       46,405

 

Earnings from continuing operations before income taxes

 $  44,586

  $    94,317

 

  $  129,411

 

Fixed charges:

 

 

 

 

     Interest, long-term debt

 $    7,679

  $    27,220

 

  $    38,154

 

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

        1,430

         3,524

 

         4,219

 

     Amortization of debt expense, premium, net

           426

         1,841

 

         2,585

 

     Portion of rentals representative of an interest factor

             81

             207

 

             306

 

Total fixed charges

 $    9,616

  $    32,792

 

  $    45,264

 

Earnings from continuing operations before income taxes

 $  44,586

  $    94,317

 

  $  129,411

 

     Plus:  total fixed charges from above

        9,616

       32,792

 

       45,264

 

     Plus:  amortization of capitalized interest

           102

             305

 

             407

 

Earnings from continuing operations before income taxes and fixed charges

 $  54,304

  $  127,414

 

  $  175,082

 

Ratio of earnings to fixed charges

          5.65

x

            3.89

x

            3.87

x

Total fixed charges from above

       9,616

       32,792

       45,264

Preferred stock dividends

           469

         1,449

         1,950

Total fixed charges and preferred stock dividends

      10,085

       34,241

       47,214

Ratio of earnings to combined fixed charges and preferred stock dividends

          5.38

x

            3.72

x

            3.71

x