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-, SIX-, AND TWELVE-MONTH PERIODS ENDED JUNE 30, 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 SIX MONTHS ENDED
   
FOR THE TWELVE MONTHS ENDED
 
(THOUSANDS, EXCEPT RATIOS)
       
JUNE 30, 2010
       
Earnings from continuing operations
  $ 35,186     $ 185,155     $ 257,788  
Equity loss (income) and dividends from investees
    1,129       (36,718 )     (33,421 )
Income taxes
    17,389       97,256       98,560  
Earnings from continuing operations before income taxes
  $ 53,704     $ 245,693     $ 322,927  
Fixed charges:
                       
Interest, long-term debt
  $ 19,332     $ 40,130     $ 73,265  
Interest, other (including interest on short-term debt)
    4,586       9,107       11,006  
Amortization of debt expense, premium, net
    745       1,433       2,161  
Portion of rentals representative of an interest factor
    106       218       472  
Interest of capitalized lease
    490       988       2,011  
Total fixed charges
  $ 25,259     $ 51,876     $ 88,915  
Earnings from continuing operations before income taxes
  $ 53,704     $ 245,693     $ 322,927  
Plus:  total fixed charges from above
    25,259       51,876       88,915  
Plus:  amortization of capitalized interest
    162       341       544  
Earnings from continuing operations before income taxes and fixed charges
  $ 79,125     $ 297,910     $ 412,386  
Ratio of earnings to fixed charges
    3.13  x     5.74  x     4.64  x
Total fixed charges from above
    25,259       51,876       88,915  
Preferred stock dividends
    17       35       64  
Total fixed charges and preferred stock dividends
    25,276       51,911       88,979  
Ratio of earnings to combined fixed charges and preferred stock dividends
    3.13  x     5.74  x     4.63  x