EX-12.A 2 exhibit12a.htm EXHIBIT 12(A) - CLECO CORPORATION - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Exhibit 12(a) - Cleco Corporation - Computation of Ratios of Earnings to Fixed Charges and of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 

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, 2006
Earnings from continuing operations
$
27,980
    
$
63,535
    
$
65,783
  
Less: undistributed equity income (loss) from investees
  
(1,453
) 
    
7,650
      
(109,103
)
Plus: income taxes
  
19,350
      
38,923
      
46,762
  
Earnings from continuing operations before income taxes
$
48,783
    
$
94,808
    
$
221,648
  
Fixed charges:
                      
Interest, long-term debt
$
9,934
    
$
30,272
    
$
38,706
  
Interest, other (including interest on short-term debt)
  
679
      
2,017
      
1,879
  
Amortization of debt expense, premium, net
  
481
      
1,384
      
1,941
  
Portion of rentals representative of an interest factor
  
85
      
252
      
341
  
Total fixed charges
$
11,179
    
$
33,925
    
$
42,867
  
Earnings from continuing operations before income taxes
$
48,783
    
$
94,808
    
$
221,648
  
Plus: total fixed charges from above
  
11,179
      
33,925
      
42,867
  
Plus: amortization of capitalized interest
  
102
      
305
      
407
  
Earnings from continuing operations before income taxes and fixed charges
$
60,064
    
$
129,038
    
$
264,922
  
Ratio of earnings to fixed charges
  
5.37
x
    
3.80
x
    
6.18
 x
Total fixed charges from above
  
11,179
      
33,925
      
42,867
  
Preferred stock dividends
  
432
      
1,342
      
1,817
  
Total fixed charges and preferred stock dividends
  
11,611
      
35,267
      
44,684
  
Ratio of earnings to combined fixed charges and preferred stock dividends
  
5.17
x
    
3.66
x
    
5.93
 x