EX-12.A 3 cnl-93013xq3ex12a.htm EXHIBIT 12(A) CNL-9.30.13-Q3 EX 12A


CLECO CORPORATION
EXHIBIT 12(a)
 
 
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, 2013
 
Earnings from continuing operations
$
66,407

 
$
135,572

 
$
158,684

 
Undistributed equity loss from investees
—

 
—

 
1

 
Income taxes
34,389

 
66,892

 
78,109

 
Earnings from continuing operations before income taxes
$
100,796

 
$
202,464

 
$
236,794

 
Fixed charges:
 
 
 
 
 
 
Interest
$
18,553

 
$
59,727

 
$
80,708

 
Amortization of debt expense, premium, net
883

 
2,557

 
3,353

 
Portion of rentals representative of an interest factor
129

 
381

 
504

 
Interest of capitalized lease
152

 
479

 
1,108

 
Total fixed charges
$
19,717

 
$
63,144

 
$
85,673

 
Earnings from continuing operations before income taxes
$
100,796

 
$
202,464

 
$
236,794

 
Plus:  total fixed charges from above
19,717

 
63,144

 
85,673

 
Plus:  amortization of capitalized interest
128

 
384

 
511

 
Earnings from continuing operations before income taxes and fixed charges
$
120,641

 
$
265,992

 
$
322,978

 
Ratio of earnings to fixed charges
6.12

X
4.21

X
3.77

X