EX-12.A 5 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-, SIX-, AND TWELVE-MONTH PERIODS ENDED JUNE 30, 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 SIX
MONTHS ENDED
   
FOR THE TWELVE MONTHS ENDED
 
(THOUSANDS, EXCEPT RATIOS)
       
JUNE 30, 2009
       
Earnings from continuing operations
  $ 27,026     $ 33,675     $ 84,356  
Equity income/loss and dividends from investees
    3,125       14,876       14,405  
Income taxes
    6,949       8,275       14,673  
Earnings from continuing operations before income taxes
  $ 37,100     $ 56,826     $ 113,434  
Fixed charges:
                       
Interest, long-term debt
  $ 16,465     $ 33,409     $ 55,132  
Interest, other (including interest on short-term debt)
    3,104       6,888       26,795  
Amortization of debt expense, premium, net
    581       1,169       2,317  
Portion of rentals representative of an interest factor
    134       197       513  
Total fixed charges
  $ 20,284     $ 41,663     $ 84,757  
Earnings from continuing operations before income taxes
  $ 37,100     $ 56,826     $ 113,434  
Plus:  total fixed charges from above
    20,284       41,663       84,757  
Plus:  amortization of capitalized interest
    102       204       407  
Earnings from continuing operations before income taxes and fixed charges
  $ 57,486     $ 98,693     $ 198,598  
Ratio of earnings to fixed charges
    2.83  x     2.37  x     2.34  x
Total fixed charges from above
    20,284       41,663       84,757  
Preferred stock dividends
    15       29       54  
Total fixed charges and preferred stock dividends
    20,299       41,692       84,811  
Ratio of earnings to combined fixed charges and preferred stock dividends
    2.83  x     2.37  x     2.34  x