EX-12.A 3 cnl-63013xq2ex12a.htm EXHIBIT 12(A) CNL-6.30.13-Q2 EX 12A


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

 
FOR THE SIX MONTHS ENDED

 
FOR THE TWELVE MONTHS ENDED

 
(THOUSANDS, EXCEPT RATIOS)
JUNE 30, 2013
 
Earnings from continuing operations
$
42,032

 
$
69,166

 
$
156,096

 
Undistributed equity loss from investees
—

 
—

 
1

 
Income taxes
19,422

 
32,503

 
63,899

 
Earnings from continuing operations before income taxes
$
61,454

 
$
101,669

 
$
219,996

 
Fixed charges:
 
 
 
 
 
 
Interest
$
20,120

 
$
41,174

 
$
84,005

 
Amortization of debt expense, premium, net
897

 
1,674

 
3,229

 
Portion of rentals representative of an interest factor
127

 
246

 
490

 
Interest of capitalized lease
160

 
327

 
1,114

 
Total fixed charges
$
21,304

 
$
43,421

 
$
88,838

 
Earnings from continuing operations before income taxes
$
61,454

 
$
101,669

 
$
219,996

 
Plus:  total fixed charges from above
21,304

 
43,421

 
88,838

 
Plus:  amortization of capitalized interest
128

 
256

 
511

 
Earnings from continuing operations before income taxes and fixed charges
$
82,886

 
$
145,346

 
$
309,345

 
Ratio of earnings to fixed charges
3.89

X
3.35

X
3.48

X