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 NINE MONTHS ENDED | FOR THE TWELVE MONTHS ENDED | ||||||||||||
| (THOUSANDS, EXCEPT RATIOS) | SEPTEMBER 30, 2006 | |||||||||||||
| Earnings from continuing operations | $ | 27,980 | $ | 63,535 | $ | 65,783 | ||||||||
| Less: undistributed equity income (loss) from investees | (1,453 | ) | 7,650 | (109,103 | ) | |||||||||
| Plus: income taxes | 19,350 | 38,923 | 46,762 | |||||||||||
| Earnings from continuing operations before income taxes | $ | 48,783 | $ | 94,808 | $ | 221,648 | ||||||||
| Fixed charges: | ||||||||||||||
Interest, long-term debt | $ | 9,934 | $ | 30,272 | $ | 38,706 | ||||||||
Interest, other (including interest on short-term debt) | 679 | 2,017 | 1,879 | |||||||||||
Amortization of debt expense, premium, net | 481 | 1,384 | 1,941 | |||||||||||
Portion of rentals representative of an interest factor | 85 | 252 | 341 | |||||||||||
| Total fixed charges | $ | 11,179 | $ | 33,925 | $ | 42,867 | ||||||||
| Earnings from continuing operations before income taxes | $ | 48,783 | $ | 94,808 | $ | 221,648 | ||||||||
Plus: total fixed charges from above | 11,179 | 33,925 | 42,867 | |||||||||||
Plus: amortization of capitalized interest | 102 | 305 | 407 | |||||||||||
| Earnings from continuing operations before income taxes and fixed charges | $ | 60,064 | $ | 129,038 | $ | 264,922 | ||||||||
| Ratio of earnings to fixed charges | 5.37 | x | 3.80 | x | 6.18 | x | ||||||||
| Total fixed charges from above | 11,179 | 33,925 | 42,867 | |||||||||||
| Preferred stock dividends | 432 | 1,342 | 1,817 | |||||||||||
| Total fixed charges and preferred stock dividends | 11,611 | 35,267 | 44,684 | |||||||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends | 5.17 | x | 3.66 | x | 5.93 | x | ||||||||