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asserted, awaiting, BART, CAA, classification, confirming, diversity, downsizing, forfeited, haze, maker, mentioned, Pollution, reconnect, remitted, Retrofit, SIP, Solid, spend, tree, VIE, violation, visibility
Removed:
CERCLA, defending, extension, finalize, northern, region, repaid, unfavorable, unjust, unreasonable
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CLECO POWER | EXHIBIT 12(b) |
Computation of Ratios of Earnings to Fixed Charges (Unaudited) | ||||||||||||||||||||
(THOUSANDS, EXCEPT RATIOS) | FOR THE NINE MONTHS ENDED SEPT. 30, 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 income | $ | 12,222 | $ | 141,350 | $ | 154,316 | $ | 150,410 | $ | 146,848 | ||||||||||
Income tax expense | 2,965 | 79,294 | 76,974 | 79,381 | 68,133 | |||||||||||||||
Total fixed charges (from below) | 59,130 | 78,364 | 77,230 | 85,103 | 84,901 | |||||||||||||||
Total earnings | $ | 74,317 | $ | 299,008 | $ | 308,520 | $ | 314,894 | $ | 299,882 | ||||||||||
Fixed charges | ||||||||||||||||||||
Interest | $ | 56,181 | $ | 74,394 | $ | 73,140 | $ | 80,905 | $ | 79,975 | ||||||||||
Amortization of debt expense, premium, net | 2,406 | 3,052 | 3,113 | 3,088 | 2,819 | |||||||||||||||
Portion of rentals representative of an interest factor** | 382 | 572 | 489 | 488 | 489 | |||||||||||||||
Interest of capitalized lease | 161 | 346 | 488 | 622 | 1,618 | |||||||||||||||
Total fixed charges | $ | 59,130 | $ | 78,364 | $ | 77,230 | $ | 85,103 | $ | 84,901 | ||||||||||
Ratio of earnings to fixed charges | 1.26 | x | 3.82 | x | 3.99 | x | 3.70 | x | 3.53 | x | ||||||||||
**Interest portion of rental expense is estimated to equal 11% of such expense, which is considered a reasonable approximation of the interest factor. |