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, 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 SIX
MONTHS ENDED
   
FOR THE TWELVE MONTHS ENDED
 
(THOUSANDS, EXCEPT RATIOS)
       
JUNE 30, 2011
       
Earnings from continuing operations
  $ 70,348     $ 99,363     $ 169,599  
Undistributed equity income from investees
    (2,775     (3,386     (5,517
Income taxes
    36,520       48,714       93,957  
Earnings from continuing operations before income taxes
  $ 104,093     $ 144,691     $ 258,039  
Fixed charges:
                       
Interest, long-term debt
  $ 21,343     $ 43,260     $ 83,140  
Interest, other (including interest on short-term debt)
    3,894       8,521       16,730  
Amortization of debt expense, premium, net
    698       1,482       3,062  
Portion of rentals representative of an interest factor
    120       231       441  
Interest of capitalized lease
    452       914       1,865  
Total fixed charges
  $ 26,507     $ 54,408     $ 105,238  
Earnings from continuing operations before income taxes
  $ 104,093     $ 144,691     $ 258,039  
Plus:  total fixed charges from above
    26,507       54,408       105,238  
Plus:  amortization of capitalized interest
    77       154       308  
Earnings from continuing operations before income taxes and fixed charges
  $ 130,677     $ 199,253     $ 363,585  
Ratio of earnings to fixed charges
    4.93  x     3.66  x     3.45  x
Total fixed charges from above
    26,507       54,408       105,238  
Preferred stock dividends
    22       39       77  
Total fixed charges and preferred stock dividends
    26,529       54,447       105,315  
Ratio of earnings to combined fixed charges and preferred stock dividends
    4.93  x     3.66  x     3.45  x