EX-12.B 5 cnl-12312016xex12b.htm EXHIBIT 12.B Exhibit


CLECO POWER LLC
EXHIBIT 12(b)
 
 
Computation of Ratios of Earnings to Fixed Charges (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS, EXCEPT RATIOS)
2016

 
2015

 
2014

 
2013

 
2012

 
Net income
$
39,128

 
$
141,350

 
$
154,316

 
$
150,410

 
$
146,848

 
Income tax expense
18,369

 
79,294

 
76,974

 
79,381

 
68,133

 
Total fixed charges (from below)
78,442

 
78,364

 
77,230

 
85,103

 
84,901

 
Total earnings
$
135,939

 
$
299,008

 
$
308,520

 
$
314,894

 
$
299,882

 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest
$
74,450

 
$
74,394

 
$
73,140

 
$
80,905

 
$
79,975

 
Amortization of debt expense, premium, net
3,289

 
3,052

 
3,113

 
3,088

 
2,819

 
Portion of rentals representative of an interest factor**
508

 
572

 
489

 
488

 
489

 
Interest of capitalized lease
195

 
346

 
488

 
622

 
1,618

 
Total fixed charges
$
78,442

 
$
78,364

 
$
77,230

 
$
85,103

 
$
84,901

 
Ratio of earnings to fixed charges
1.73

x
3.82

x
3.99

x
3.70

x
3.53

x
**Interest portion of rental expense is estimated to equal 11% of such expense, which is considered a reasonable approximation of the interest factor.