EX-12.A 3 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 exhibit12a.htm
 
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 SIX MONTHS ENDED
    
FOR THE TWELVE
 MONTHS ENDED
  
(THOUSANDS, EXCEPT RATIOS)
        
JUNE 30, 2007
        
Earnings from continuing operations
   $
63,191
     $
71,837
     $
110,953
  
Undistributed equity income from investees
    
(6,918
 )     
(8,413
 )     
(23,716
 ) 
Income taxes
    
30,968
      
33,111
      
55,587
  
Earnings from continuing operations before income taxes
   $
101,077
     $
113,361
     $
190,256
  
Fixed charges:
                        
Interest, long-term debt
   $
9,827
     $
20,032
     $
39,832
  
Interest, other (including interest on short-term debt)
    
4,059
      
7,017
      
10,790
  
Amortization of debt expense, premium, net
    
491
      
985
      
1,948
  
Portion of rentals representative of an interest factor
    
151
      
282
      
559
  
Total fixed charges
   $
14,528
     $
28,316
     $
53,129
  
Earnings from continuing operations before income taxes
   $
101,077
     $
113,361
     $
190,256
  
Plus:  total fixed charges from above
    
14,528
      
28,316
      
53,129
  
Plus:  amortization of capitalized interest
    
102
      
204
      
407
  
Earnings from continuing operations before income taxes and fixed charges
   $
115,707
     $
141,881
     $
243,792
  
Ratio of earnings to fixed charges
    
7.96
  x    
5.01
  x    
4.59
  x
Total fixed charges from above
    
14,528
      
28,316
      
53,129
  
Preferred stock dividends
    
17
      
446
      
1,307
  
Total fixed charges and preferred stock dividends
    
14,545
      
28,762
      
54,436
  
Ratio of earnings to combined fixed charges and preferred stock dividends
    
7.96
  x    
4.93
  x    
4.48
  x