CLECO CORPORATE HOLDINGS LLC | EXHIBIT 12(a) |
Computation of Ratios of Earnings to Fixed Charges (Unaudited) | ||||||||||||||||||||||||
SUCCESSOR | PREDECESSOR | |||||||||||||||||||||||
(THOUSANDS, EXCEPT RATIOS) | FOR THE SIX MONTHS ENDED JUNE 30, 2017 | APR. 13, 2016 - DEC. 31, 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 | ||||||||||||||||||
Net income (loss) | $ | 31,736 | $ | (24,113 | ) | $ | (3,960 | ) | $ | 133,669 | $ | 154,739 | $ | 160,685 | ||||||||||
Income tax expense (benefit) | 19,327 | (22,822 | ) | 3,468 | 77,704 | 67,116 | 79,575 | |||||||||||||||||
Undistributed equity loss from investees | — | — | — | 7 | — | — | ||||||||||||||||||
Amortization of capitalized interest | — | — | — | — | 77 | 308 | ||||||||||||||||||
Total fixed charges (from below) | 63,272 | 91,338 | 22,547 | 79,795 | 76,163 | 86,680 | ||||||||||||||||||
Total earnings | $ | 114,335 | $ | 44,403 | $ | 22,055 | $ | 291,175 | $ | 298,095 | $ | 327,248 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest | $ | 59,480 | $ | 87,315 | $ | 21,491 | $ | 75,535 | $ | 71,959 | $ | 81,173 | ||||||||||||
Amortization of debt expense, premium, net | 3,487 | 3,537 | 839 | 3,342 | 3,227 | 4,397 | ||||||||||||||||||
Portion of rentals representative of an interest factor** | 267 | 362 | 146 | 572 | 489 | 488 | ||||||||||||||||||
Interest of capitalized lease | 38 | 124 | 71 | 346 | 488 | 622 | ||||||||||||||||||
Total fixed charges | $ | 63,272 | $ | 91,338 | $ | 22,547 | $ | 79,795 | $ | 76,163 | $ | 86,680 | ||||||||||||
Ratio of earnings to fixed charges | 1.81 | x | * | * | 3.65 | x | 3.91 | x | 3.78 | 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. |