EX-12.A 3 cnl-93015xq3ex12a.htm EXHIBIT 12(A) Exhibit


CLECO CORPORATION
EXHIBIT 12(a)
 
 
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
(THOUSANDS, EXCEPT RATIOS)
FOR THE NINE MONTHS ENDED SEPT. 30, 2015

 
FOR THE TWELVE MONTHS ENDED DEC. 31, 2014

 
Earnings from continuing operations
$
111,819

 
$
154,739

 
Income taxes
65,448

 
67,116

 
Total earnings from continuing operations before income taxes
$
177,267

 
$
221,855

 
Fixed charges:
 
 
 
 
Interest
$
56,960

 
$
71,959

 
Amortization of debt expense, premium, net
2,304

 
3,227

 
Portion of rentals representative of an interest factor
391

 
489

 
Interest of capitalized lease
273

 
488

 
Total fixed charges
$
59,928

 
$
76,163

 
Total earnings from continuing operations before income taxes and fixed charges
$
237,195

 
$
298,018

*
Ratio of earnings to fixed charges
3.96

X
3.91

X
* The amortization of capitalized interest of $511 thousand was removed.