EX-12.(A) 3 cnl-33116xq1ex12a.htm EXHIBIT 12.(A) Exhibit


CLECO HOLDINGS
EXHIBIT 12(a)
 
 
Computation of Ratios of Earnings to Fixed Charges (Unaudited)
 
 
 
 
(THOUSANDS, EXCEPT RATIOS)
FOR THE THREE MONTHS ENDED MAR. 31, 2016

 
FOR THE TWELVE MONTHS ENDED DEC. 31, 2015

 
Net income
$
19,368

 
$
133,669

 
Income tax expense
12,137

 
77,704

 
Undistributed equity loss from investees
—

 
7

 
Total fixed charges (from below)
19,930

 
79,795

 
Total earnings
$
51,435

 
$
291,175

 
Fixed charges:
 
 
 
 
Interest
$
18,996

 
$
75,535

 
Amortization of debt expense, premium, net
742

 
3,342

 
Portion of rentals representative of an interest factor
129

 
572

 
Interest of capitalized lease
63

 
346

 
Total fixed charges
$
19,930

 
$
79,795

 
Ratio of earnings to fixed charges
2.58

X
3.65

X