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-, 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 NINE
MONTHS ENDED
   
FOR THE TWELVE MONTHS ENDED
 
(THOUSANDS, EXCEPT RATIOS)
       
SEPTEMBER 30, 2009
       
Earnings from continuing operations
  $ 59,855     $ 93,530     $ 107,079  
Equity income/loss and dividends from investees
    (14,208 )     669       8,933  
Income taxes
    4,983       13,258       9,142  
Earnings from continuing operations before income taxes
  $ 50,630     $ 107,457     $ 125,154  
Fixed charges:
                       
Interest, long-term debt
  $ 15,713     $ 49,122     $ 64,751  
Interest, other (including interest on short-term debt)
    1,063       7,951       13,906  
Amortization of debt expense, premium, net
    585       1,754       2,328  
Portion of rentals representative of an interest factor
    134       383       529  
Interest, capitalized lease
    515       1,452       1,452  
Total fixed charges
  $ 18,010     $ 60,662     $ 82,966  
Earnings from continuing operations before income taxes
  $ 50,630     $ 107,457     $ 125,154  
Plus:  total fixed charges from above
    18,010       60,662       82,966  
Plus:  amortization of capitalized interest
    102       305       407  
Earnings from continuing operations before income taxes and fixed charges
  $ 68,742     $ 168,424     $ 208,527  
Ratio of earnings to fixed charges
    3.82  X     2.78  X     2.51  X
Total fixed charges from above
    18,010       60,662       82,966  
Preferred stock dividends
    13       40       50  
Total fixed charges and preferred stock dividends
    18,023       60,702       83,016  
Ratio of earnings to combined fixed charges and preferred stock dividends
    3.81  X     2.77  X     2.51  X