EX-12.A 8 exhibit12a.htm 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-, NINE-, AND TWELVE-MONTH PERIODS ENDED SEPTEMBER 30, 2008 FOR CLECO CORPORATION 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 NINE
MONTHS ENDED
    
FOR THE TWELVE 
MONTHS ENDED
  
(THOUSANDS, EXCEPT RATIOS)
        
SEPTEMBER 30, 2008
        
Earnings from continuing operations
   $ 37,133     $ 88,593     $ 100,501  
Equity income/loss and dividends from investees
     (8,832 )     5,967       22,962  
Income taxes
     10,513       22,573       30,158  
Earnings from continuing operations before income taxes
   $ 38,814     $ 117,133     $ 153,621  
Fixed charges:
                        
Interest, long-term debt
   $ 14,747     $ 38,340     $ 48,410  
Interest, other (including interest on short-term debt)
     5,299       9,876       8,633  
Amortization of debt expense, premium, net
     573       1,668       2,166  
Portion of rentals representative of an interest factor
     130       375       502  
Total fixed charges
   $ 20,749     $ 50,259     $ 59,711  
Earnings from continuing operations before income taxes
   $ 38,814     $ 117,133     $ 153,621  
Plus:  total fixed charges from above
     20,749       50,259       59,711  
Plus:  amortization of capitalized interest
     102       305       407  
Earnings from continuing operations before income taxes and fixed charges
   $ 59,665     $ 167,697     $ 213,739  
Ratio of earnings to fixed charges
     2.88  X     3.34  X     3.58  X
Total fixed charges from above
     20,749       50,259       59,711  
Preferred stock dividends
     15       44       60  
Total fixed charges and preferred stock dividends
     20,764       50,303       59,771  
Ratio of earnings to combined fixed charges and preferred stock dividends
     2.87  X     3.33  X     3.58  X