EX-12.B 9 exhibit12b.htm EXHIBIT 12(B) - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit12b.htm
 


 
CLECO POWER LLC
EXHIBIT 12(b)
 
Computation of Ratios of Earnings to Fixed Charges
UNAUDITED (THOUSANDS, EXCEPT RATIOS)
 
2008
   
2007
   
2006
   
2005
   
2004
 
Earnings from continuing operations
  $ 113,832     $ 84,673     $ 64,828     $ 59,081     $ 52,202  
Income taxes
    27,956       29,613       33,059       37,495       27,691  
Earnings from continuing operations before income taxes
  $ 141,788     $ 114,286     $ 97,887     $ 96,576     $ 79,893  
Fixed charges:
                                       
Interest, long-term debt
  $ 51,636     $ 32,903     $ 33,138     $ 24,583     $ 26,909  
Interest, other (including interest on short-term debt)
    13,397       8,408       4,662       2,431       984  
Amortization of debt expense, premium, net
    1,892       1,399       1,295       1,482       1,797  
Portion of rentals representative of an interest factor
    523       558       506       283       267  
Total fixed charges
  $ 67,448     $ 43,268     $ 39,601     $ 28,779     $ 29,957  
Earnings from continuing operations before income taxes
  $ 141,788     $ 114,286     $ 97,887     $ 96,576     $ 79,893  
Total fixed charges from above
    67,448       43,268       39,601       28,779       29,957  
Earnings from continuing operations before income taxes and fixed charges
  $ 209,236     $ 157,554     $ 137,488     $ 125,355     $ 109,850  
Ratio of earnings to fixed charges
    3.10  x     3.64  x     3.47  x     4.36  x     3.67  x