EX-12.B 4 cnl-93013xq3ex12b.htm EXHIBIT 12(B) CNL-9.30.13-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, 2013
Earnings from continuing operations
$
61,885

 
$
124,142

 
$
149,117

 
Income taxes
33,355

 
65,558

 
78,942

 
Earnings from continuing operations before income taxes
$
95,240

 
$
189,700

 
$
228,059

 
Fixed charges:
 
 
 
 
 
 
Interest
$
18,279

 
$
59,504

 
$
78,867

 
Amortization of debt expense, premium, net
799

 
2,304

 
3,016

 
Portion of rentals representative of an interest factor
129

 
381

 
504

 
Interest of capitalized lease
152

 
479

 
1,108

 
Total fixed charges
$
19,359

 
$
62,668

 
$
83,495

 
Earnings from continuing operations before income taxes
$
95,240

 
$
189,700

 
$
228,059

 
Plus:  total fixed charges from above
19,359

 
62,668

 
83,495

 
Plus:  amortization of capitalized interest
51

 
153

 
204

 
Earnings from continuing operations before income taxes and fixed charges
$
114,650

 
$
252,521

 
$
311,758

 
Ratio of earnings to fixed charges
5.92

X
4.03

X
3.73

X