EX-12.A 5 exhibit12a.htm Exhibit 12(a)

CLECO CORPORATION  

EXHIBIT 12(a)

Computation of Ratios of Earnings to Fixed Charges and of Earnings to Combined
Fixed Charges and Preferred Stock Dividends

   FOR THE THREE
MONTHS ENDED

       FOR THE SIX
MONTHS ENDED

 

FOR THE TWELVE
MONTHS ENDED

 

(THOUSANDS, EXCEPT RATIOS)

JUNE 30, 2005

 

 

 

Earnings from continuing operations

 $  20,699

  $    30,273

 

  $    71,768

 

Income taxes

      12,548

       18,543

 

       40,957

 

Earnings from continuing operations before income taxes

 $  33,247

  $    48,816

 

  $  112,725

 

Fixed charges:

 

 

 

 

     Interest, long-term debt

 $    8,807

  $    19,541

 

  $    41,107

 

     Interest, other (including interest on short-term debt)

        1,334

         2,094

 

         3,415

 

     Amortization of debt expense, premium, net

           789

         1,414

 

         2,964

 

     Portion of rentals representative of an interest factor

           110

             153

 

             296

 

Total fixed charges

 $  11,040

  $    23,202

 

  $    47,782

 

Earnings from continuing operations before income taxes

 $  33,247

  $    48,816

 

  $  112,725

 

     Plus:  total fixed charges from above

      11,040

       23,202

 

       47,782

 

     Plus:  amortization of capitalized interest

           102

             204

 

             407

 

Earnings from continuing operations before income taxes and fixed charges

 $  44,389

  $    72,222

 

  $  160,914

 

Ratio of earnings to fixed charges

          4.02

x

            3.11

x

            3.37

x

Total fixed charges from above

     11,040

       23,202

       47,782

Preferred stock dividends

           470

             982

         1,987

Total fixed charges and preferred stock dividends

      11,510

       24,184

       49,769

Ratio of earnings to combined fixed charges and preferred stock dividends

          3.86

x

            2.99

x

            3.23

x