EX-12.B 4 cnl-12312013xex12b.htm EXHIBIT 12(B) CNL-12.31.2013-EX 12(b)


CLECO POWER LLC 
EXHIBIT 12(b)
 
 
Computation of Ratios of Earnings to Fixed Charges
UNAUDITED (THOUSANDS, EXCEPT RATIOS)
2013

 
2012

 
2011

 
2010

 
2009

 
Earnings from continuing operations
$
150,410

 
$
146,848

 
$
142,835

 
$
147,405

 
$
111,166

 
Income taxes
79,381

 
68,133

 
69,409

 
75,107

 
15,297

 
Earnings from continuing operations before income taxes
229,791

 
$
214,981

 
$
212,244

 
$
222,512

 
$
126,463

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest
$
80,905

 
$
81,515

 
$
96,495

 
$
81,015

 
$
82,971

 
Amortization of debt expense, premium, net
3,088

 
2,819

 
2,382

 
2,279

 
1,764

 
Portion of rentals representative of an interest factor
488

 
489

 
493

 
431

 
536

 
Interest of capitalized lease
622

 
1,618

 
1,787

 
3,972

 
1,545

 
Total fixed charges
$
85,103

 
$
86,441

 
$
101,157

 
$
87,697

 
$
86,816

 
Earnings from continuing operations before income taxes
$
229,791

 
$
214,981

 
$
212,244

 
$
222,512

 
$
126,463

 
Plus: total fixed charges from above
85,103

 
86,441

 
101,157

 
87,697

 
86,816

 
Plus: amortization of capitalized interest
204

 
—

 
—

 
—

 
—

 
Earnings from continuing operations before income taxes and fixed charges
$
315,098

 
$
301,422

 
$
313,401

 
$
310,209

 
$
213,279

 
Ratio of earnings to fixed charges
3.70

x
3.49

x
3.10

x
3.54

x
2.46

x