EX-12.B 9 exhibit12b.htm EXHIBIT 12(B) - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit12b.htm
 


 
CLECO POWER LLC
EXHIBIT 12(b)
 
Computation of Ratios of Earnings to Fixed Charges
UNAUDITED (THOUSANDS, EXCEPT RATIOS)
 
2010
   
2009
   
2008
   
2007
   
2006
 
Earnings from continuing operations
  $ 147,405     $ 111,166     $ 113,832     $ 84,673     $ 64,828  
Income taxes
    75,107       15,297       27,956       29,613       33,059  
Earnings from continuing operations before income taxes
  $ 222,512     $ 126,463     $ 141,788     $ 114,286     $ 97,887  
Fixed charges:
                                       
Interest, long-term debt
  $ 73,926     $ 65,636     $ 51,636     $ 32,903     $ 33,138  
Interest, other (including interest on short-term debt)
    7,089       17,335       13,397       8,408       4,662  
Amortization of debt expense, premium, net
    2,279       1,764       1,892       1,399       1,295  
Portion of rentals representative of an interest factor
    431       536       523       558       506  
Interest of capitalized lease
    3,972       1,545       -       -       -  
Total fixed charges
  $ 87,697     $ 86,816     $ 67,448     $ 43,268     $ 39,601  
Earnings from continuing operations before income taxes
  $ 222,512     $ 126,463     $ 141,788     $ 114,286     $ 97,887  
Total fixed charges from above
    87,697       86,816       67,448       43,268       39,601  
Earnings from continuing operations before income taxes and fixed charges
  $ 310,209     $ 213,279     $ 209,236     $ 157,554     $ 137,488  
Ratio of earnings to fixed charges
    3.54  X     2.46  X     3.10  X     3.64  X     3.47  X