EX-12.B 3 cnl-93012xq3ex12b.htm EXHIBIT 12(B) CNL-9.30.12-Q3 EX 12B


CLECO POWER
EXHIBIT 12(b)
 
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
 
 
 
FOR THE THREE MONTHS ENDED

 
FOR THE NINE MONTHS ENDED

 
FOR THE TWELVE MONTHS ENDED

 
(THOUSANDS, EXCEPT RATIOS)
SEPT. 30, 2012
Earnings from continuing operations
$
57,783

 
$
121,873

 
$
145,151

 
Income taxes
19,740

 
54,748

 
62,222

 
Earnings from continuing operations before income taxes
$
77,523

 
$
176,621

 
$
207,373

 
Fixed charges:
 
 
 
 
 
 
Interest
$
21,931

 
$
60,612

 
$
83,516

 
Amortization of debt expense, premium, net
675

 
2,107

 
2,694

 
Portion of rentals representative of an interest factor
126

 
368

 
498

 
Interest of capitalized lease
399

 
1,230

 
1,662

 
Total fixed charges
$
23,131

 
$
64,317

 
$
88,370

 
Earnings from continuing operations before income taxes
$
77,523

 
$
176,621

 
$
207,373

 
Plus:  total fixed charges from above
23,131

 
64,317

 
88,370

 
Earnings from continuing operations before income taxes and fixed charges
$
100,654

 
$
240,938

 
$
295,743

 
Ratio of earnings to fixed charges
4.35

X
3.75

X
3.35

X