EX-12.A 7 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, 2010, 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, 2010
 
Earnings from continuing operations
  $ 149,970     $ 249,628  
Undistributed equity gain from investees
    (37,847 )     (30,575 )
Income taxes
    79,866       88,119  
Earnings from continuing operations before income taxes
  $ 191,989     $ 307,172  
Fixed charges:
               
Interest, long-term debt
  $ 17,737     $ 68,257  
Interest, other (including interest on short-term debt)
    7,581       11,664  
Amortization of debt expense, premium, net
    688       1,997  
Portion of rentals representative of an interest factor
    112       510  
Interest of capitalized lease
    498       2,042  
Total fixed charges
  $ 26,616     $ 84,470  
Earnings from continuing operations before income taxes
  $ 191,989     $ 307,172  
Plus:  total fixed charges from above
    26,616       84,470  
Plus:  amortization of capitalized interest
    162       467  
Earnings from continuing operations before income taxes and fixed charges
  $ 218,767     $ 392,109  
Ratio of earnings to fixed charges
    8.22  X     4.64  X
Total fixed charges from above
    26,616       84,470  
Preferred stock dividends
    18       63  
Total fixed charges and preferred stock dividends
    26,634       84,533  
Ratio of earnings to combined fixed charges and preferred stock dividends
    8.21  X     4.64  X