EX-12.A 3 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- AND TWELVE-MONTH PERIODS ENDED MARCH 31, 2009, 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 TWELVE
 MONTHS ENDED
  
(THOUSANDS, EXCEPT RATIOS)
  
MARCH 31, 2009
  
Earnings from continuing operations
   $ 6,650     $ 86,719  
Undistributed equity income from investees
     11,751       17,825  
Income taxes
     1,326       14,723  
Earnings from continuing operations before income taxes
   $ 19,727     $ 119,267  
Fixed charges:
                
Interest, long-term debt
   $ 16,944     $ 51,043  
Interest, other (including interest on short-term debt)
     3,784       25,717  
Amortization of debt expense, premium, net
     588       2,280  
Portion of rentals representative of an interest factor
     121       524  
Total fixed charges
   $ 21,437     $ 79,564  
Earnings from continuing operations before income taxes
   $ 19,727     $ 119,267  
Plus:  total fixed charges from above
     21,437       79,564  
Plus:  amortization of capitalized interest
     102       407  
Earnings from continuing operations before income taxes and fixed charges
   $ 41,266     $ 199,238  
Ratio of earnings to fixed charges
     1.92  x     2.50  x
Total fixed charges from above
     21,437       79,564  
Preferred stock dividends
     14       54  
Total fixed charges and preferred stock dividends
     21,451       79,618  
Ratio of earnings to combined fixed charges and preferred stock dividends
     1.92  x     2.50  x