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- AND TWELVE-MONTH PERIODS ENDED MARCH 31, 2011, 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, 2011
  
Earnings from continuing operations
   $ 29,016     $ 134,437  
Undistributed equity gain from investees
     (611 )     (1,613 )
Income taxes
     12,195       74,827  
Earnings from continuing operations before income taxes
   $ 40,600     $ 207,651  
Fixed charges:
                
Interest, long-term debt
   $ 21,916     $ 81,128  
Interest, other (including interest on short-term debt)
     4,628       17,423  
Amortization of debt expense, premium, net
     784       3,110  
Portion of rentals representative of an interest factor
     113       431  
Interest of capitalized lease
     462       1,903  
Total fixed charges
   $ 27,903     $ 103,995  
Earnings from continuing operations before income taxes
   $ 40,600     $ 207,651  
Plus:  total fixed charges from above
     27,903       103,995  
Plus:  amortization of capitalized interest
     128       512  
Earnings from continuing operations before income taxes and fixed charges
   $ 68,631     $ 312,158  
Ratio of earnings to fixed charges
     2.46  x     3.00  x
Total fixed charges from above
     27,903       103,995  
Preferred stock dividends
     16       72  
Total fixed charges and preferred stock dividends
     27,919       104,067  
Ratio of earnings to combined fixed charges and preferred stock dividends
     2.46  x     3.00  x