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CLECO POWER | EXHIBIT 12(b) |
Computation of Ratios of Earnings to Fixed Charges | ||||||||
(THOUSANDS, EXCEPT RATIOS) | FOR THE SIX MONTHS ENDED JUNE 30, 2015 | FOR THE TWELVE MONTHS ENDED DEC. 31, 2014 | ||||||
Earnings from continuing operations | $ | 60,418 | $ | 154,316 | ||||
Income taxes | 38,268 | 76,974 | ||||||
Total earnings from continuing operations before income taxes | $ | 98,686 | $ | 231,290 | ||||
Fixed charges: | ||||||||
Interest | $ | 38,243 | $ | 73,140 | ||||
Amortization of debt expense, premium, net | 1,512 | 3,113 | ||||||
Portion of rentals representative of an interest factor | 247 | 489 | ||||||
Interest of capitalized lease | 191 | 488 | ||||||
Total fixed charges | $ | 40,193 | $ | 77,230 | ||||
Total earnings from continuing operations before income taxes and fixed charges | $ | 138,879 | $ | 308,520 | * | |||
Ratio of earnings to fixed charges | 3.46 | X | 3.99 | X | ||||
* The amortization of capitalized interest of $447 thousand was removed. |