Cleco Corporate 10-Q 2016 Q3 Quarterly report

CLECO HOLDINGS EXHIBIT 12(a)

Computation of Ratios of Earnings to Fixed Charges (Unaudited)
	SUCCESSOR			PREDECESSOR
(THOUSANDS, EXCEPT RATIOS)	APR. 13, 2016 - SEPT. 30, 2016			JAN. 1, 2016 - APR. 12, 2016			FOR THE TWELVE MONTHS ENDED DEC. 31, 2015			FOR THE TWELVE MONTHS ENDED DEC. 31, 2014			FOR THE TWELVE MONTHS ENDED DEC. 31, 2013			FOR THE TWELVE MONTHS ENDED DEC. 31, 2012
Net (loss) income	$	(42,294	)	$	(3,960	)	$	133,669		$	154,739		$	160,685		$	163,648
Income tax (benefit) expense	(28,502		)	3,468			77,704			67,116			79,575			65,327
Undistributed equity loss from investees	—			—			7			—			—			—
Amortization of capitalized interest	—			—			—			77			308			308
Total fixed charges (from below)	59,252			22,547			79,795			76,163			86,680			88,556
Total (losses) earnings	$	(11,544	)	$	22,055		$	291,175		$	298,095		$	327,248		$	317,839
Fixed charges
Interest	$	56,596		$	21,491		$	75,535		$	71,959		$	81,173		$	83,293
Amortization of debt expense, premium, net	2,330			839			3,342			3,227			4,397			3,156
Portion of rentals representative of an interest factor**	236			146			572			489			488			489
Interest of capitalized lease	90			71			346			488			622			1,618
Total fixed charges	$	59,252		$	22,547		$	79,795		$	76,163		$	86,680		$	88,556
Ratio of earnings to fixed charges	*			*			3.65		x	3.91		x	3.78		x	3.59		x
*Earnings were inadequate to cover fixed charges.
**Interest portion of rental expense is estimated to equal 11% of such expense, which is considered a reasonable approximation of the interest factor.