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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, 2012 | |||||||||||
Earnings from continuing operations | $ | 46,686 | $ | 76,718 | $ | 173,203 | ||||||
Undistributed equity income from investees | — | (1 | ) | 1 | ||||||||
Income taxes | 20,520 | 33,930 | 88,113 | |||||||||
Earnings from continuing operations before income taxes | $ | 67,206 | $ | 110,647 | $ | 261,317 | ||||||
Fixed charges: | ||||||||||||
Interest | $ | 20,175 | $ | 40,461 | $ | 58,108 | ||||||
Amortization of debt expense, premium, net | 919 | 1,601 | 3,136 | |||||||||
Portion of rentals representative of an interest factor | 124 | 242 | 498 | |||||||||
Interest of capitalized lease | 410 | 831 | 1,705 | |||||||||
Total fixed charges | $ | 21,628 | $ | 43,135 | $ | 63,447 | ||||||
Earnings from continuing operations before income taxes | $ | 67,206 | $ | 110,647 | $ | 261,317 | ||||||
Plus: total fixed charges from above | 21,628 | 43,135 | 63,447 | |||||||||
Plus: amortization of capitalized interest | 128 | 256 | 512 | |||||||||
Earnings from continuing operations before income taxes and fixed charges | $ | 88,962 | $ | 154,038 | $ | 325,276 | ||||||
Ratio of earnings to fixed charges | 4.11 | X | 3.57 | X | 5.13 | X |