EX-12.A 3 exhibit12a.htm EXHIBIT 12(A) - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND TO 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, 2008
       
Earnings from continuing operations
  $ 29,389     $ 51,460     $ 131,413  
Equity income/loss and dividends from investees
    10,225       14,799       4,116  
Income taxes
    6,999       12,060       49,721  
Earnings from continuing operations before income taxes
  $ 46,613     $ 78,319     $ 185,250  
Fixed charges:
                       
Interest, long-term debt
  $ 12,468     $ 23,593     $ 43,464  
Interest, other (including interest on short-term debt)
    1,934       4,577       6,796  
Amortization of debt expense, premium, net
    545       1,095       2,082  
Portion of rentals representative of an interest factor
    125       245       499  
Total fixed charges
  $ 15,072     $ 29,510     $ 52,841  
Earnings from continuing operations before income taxes
  $ 46,613     $ 78,319     $ 185,250  
Plus:  total fixed charges from above
    15,072       29,510       52,841  
Plus:  amortization of capitalized interest
    102       204       407  
Earnings from continuing operations before income taxes and fixed charges
  $ 61,787     $ 108,033     $ 238,498  
Ratio of earnings to fixed charges
    4.10  X     3.66  X     4.51  X
Total fixed charges from above
    15,072       29,510       52,841  
Preferred stock dividends
    14       29       64  
Total fixed charges and preferred stock dividends
    15,086       29,539       52,905  
Ratio of earnings to combined fixed charges and preferred stock dividends
    4.10  X     3.66  X     4.51  X