EX-12.A 2 cnl-93014xq3ex12a.htm EXHIBIT 12(A) CNL-9.30.14-Q3 EX 12A


CLECO CORPORATION
EXHIBIT 12(a)
 
 
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
(THOUSANDS, EXCEPT RATIOS)
FOR THE NINE MONTHS ENDED SEPT. 30, 2014

 
FOR THE TWELVE MONTHS ENDED DEC. 31, 2013

 
Earnings from continuing operations
$
133,392

 
$
160,685

 
Income taxes
52,649

 
79,575

 
Earnings from continuing operations before income taxes
$
186,041

 
$
240,260

 
Fixed charges:
 
 
 
 
Interest
$
52,346

 
$
81,173

 
Amortization of debt expense, premium, net
2,421

 
4,397

 
Portion of rentals representative of an interest factor
279

 
488

 
Interest of capitalized lease
379

 
622

 
Total fixed charges
$
55,425

 
$
86,680

 
Earnings from continuing operations before income taxes
$
186,041

 
$
240,260

 
Plus:  total fixed charges from above
55,425

 
86,680

 
Plus:  amortization of capitalized interest
384

 
511

 
Earnings from continuing operations before income taxes and fixed charges
$
241,850

 
$
327,451

 
Ratio of earnings to fixed charges
4.36

X
3.78

X