EX-12.B 7 cnl-12312012xex12b.htm EXHIBIT 12(B) CNL-12.31.2012-EX 12(b)


CLECO POWER LLC 
EXHIBIT 12(b)
 
 
Computation of Ratios of Earnings to Fixed Charges
UNAUDITED (THOUSANDS, EXCEPT RATIOS)
2012

 
2011

 
2010

 
2009

 
2008

 
Earnings from continuing operations
$
146,848

 
$
142,835

 
$
147,405

 
$
111,166

 
$
113,832

 
Income taxes
68,133

 
69,409

 
75,107

 
15,297

 
27,956

 
Earnings from continuing operations before income taxes
214,981

 
$
212,244

 
$
222,512

 
$
126,463

 
$
141,788

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest
$
81,515

 
$
96,495

 
$
81,015

 
$
82,971

 
$
65,033

 
Amortization of debt expense, premium, net
2,819

 
2,382

 
2,279

 
1,764

 
1,892

 
Portion of rentals representative of an interest factor
489

 
493

 
431

 
536

 
523

 
Interest of capitalized lease
1,618

 
1,787

 
3,972

 
1,545

 
—

 
Total fixed charges
$
86,441

 
$
101,157

 
$
87,697

 
$
86,816

 
$
67,448

 
Earnings from continuing operations before income taxes
$
214,981

 
$
212,244

 
$
222,512

 
$
126,463

 
$
141,788

 
Total fixed charges from above
86,441

 
101,157

 
87,697

 
86,816

 
67,448

 
Earnings from continuing operations before income taxes and fixed charges
$
301,422

 
$
313,401

 
$
310,209

 
$
213,279

 
$
209,236

 
Ratio of earnings to fixed charges
3.49

x
3.10

x
3.54

x
2.46

x
3.10

x