EX-12.B 3 cnl-63014xq2ex12b.htm EXHIBIT 12(B) CNL-6.30.14-Q2 EX 12B


CLECO POWER
EXHIBIT 12(b)
 
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
(THOUSANDS, EXCEPT RATIOS)
FOR THE SIX MONTHS ENDED JUNE 30, 2014

 
FOR THE TWELVE MONTHS ENDED DEC. 31, 2013

 
Earnings from continuing operations
$
58,965

 
$
150,410

 
Income taxes
30,281

 
79,381

 
Earnings from continuing operations before income taxes
$
89,246

 
$
229,791

 
Fixed charges:
 
 
 
 
Interest
$
39,901

 
$
80,905

 
Amortization of debt expense, premium, net
1,557

 
3,088

 
Portion of rentals representative of an interest factor
245

 
488

 
Interest of capitalized lease
261

 
622

 
Total fixed charges
$
41,964

 
$
85,103

 
Earnings from continuing operations before income taxes
$
89,246

 
$
229,791

 
Plus:  total fixed charges from above
41,964

 
85,103

 
Plus:  amortization of capitalized interest
192

 
204

 
Earnings from continuing operations before income taxes and fixed charges
$
131,402

 
$
315,098

 
Ratio of earnings to fixed charges
3.13

X
3.70

X