EX-12.B 9 exhibit12b.htm EXHIBIT 12(B) Exhibit 12(b)

 

CLECO POWER LLC EXHIBIT 12(b)

Computation of Ratios of Earnings to Fixed Charges

UNAUDITED (THOUSANDS, EXCEPT RATIOS)

                     2005

                     2004

                     2003

                     2002

                     2001

Earnings from continuing operations

 $    59,081

   $        52,202

   $        57,008

   $        59,574

   $        59,138

Income taxes

        37,495

                27,691

                29,846

                32,172

                31,290

Earnings from continuing operations before income taxes

 $    96,576

   $        79,893

   $        86,854

   $        91,746

   $        90,428

Fixed charges:

     Interest, long-term debt

 $    24,583

   $        26,909

   $        25,841

   $        24,762

   $        23,813

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

          2,431

                      984

                  2,220

                  4,001

                  3,304

     Amortization of debt expense, premium, net

          1,482

                  1,797

                  1,526

                      931

                      879

     Portion of rentals representative of an interest factor

             283

                      267

                      513

                      528

                      527

Total fixed charges

 $    28,779

   $        29,957

   $        30,100

   $        30,222

   $        28,523

Earnings from continuing operations before income taxes

 $    96,576

   $        79,893

   $        86,854

   $        91,746

   $        90,428

     Total fixed charges from above

        28,779

                29,957

                30,100

                30,222

                28,523

Earnings from continuing operations before income taxes and fixed charges

 $  125,355

   $      109,850

   $      116,954

   $      121,968

   $      118,951

Ratio of earnings to fixed charges

            4.36

x

                    3.67

x

                    3.89

x

                    4.04

x

                    4.17

x