EX-12.B 11 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)
 
2009
   
2008
   
2007
   
2006
   
2005
 
Earnings from continuing operations
  $ 111,166     $ 113,832     $ 84,673     $ 64,828     $ 59,081  
Income taxes
    15,297       27,956       29,613       33,059       37,495  
Earnings from continuing operations before income taxes
  $ 126,463     $ 141,788     $ 114,286     $ 97,887     $ 96,576  
Fixed charges:
                                       
Interest, long-term debt
  $ 65,636     $ 51,636     $ 32,903     $ 33,138     $ 24,583  
Interest, other (including interest on short-term debt)
    17,335       13,397       8,408       4,662       2,431  
Amortization of debt expense, premium, net
    1,764       1,892       1,399       1,295       1,482  
Portion of rentals representative of an interest factor
    536       523       558       506       283  
Interest of capitalized lease
    1,545       -       -       -       -  
Total fixed charges
  $ 86,816     $ 67,448     $ 43,268     $ 39,601     $ 28,779  
Earnings from continuing operations before income taxes
  $ 126,463     $ 141,788     $ 114,286     $ 97,887     $ 96,576  
Total fixed charges from above
    86,816       67,448       43,268       39,601       28,779  
Earnings from continuing operations before income taxes and fixed charges
  $ 213,279     $ 209,236     $ 157,554     $ 137,488     $ 125,355  
Ratio of earnings to fixed charges
    2.46  X     3.10  X     3.64  X     3.47  X     4.36  X