Exhibit 12(c) Louisiana Power and Light Company Computation of Ratios of Earnings to Fixed Charges and Ratios of Earnings to Combined Fixed Charges and Preferred Dividends Twelve Months Ended December 31, 1990 1991 1992 1993 1994 Fixed charges, as defined: Interest on mortgage bonds $101,996 $97,324 $68,247 $60,939 $58,338 Interest on long-term debt - other 52,361 61,492 60,425 63,694 66,482 Interest on notes payable 87 -- 150 898 1,948 Other interest charges 6,378 5,924 5,591 5,706 4,546 Amortization of expense and premium on debt - net(cr) 3,397 3,282 7,100 5,720 5,130 Interest applicable to rentals 12,906 11,381 9,363 8,519 8,332 ------------------------------------------------ Total fixed charges, as defined 177,125 179,403 150,876 145,476 144,776 Preferred dividends, as defined (a) 42,365 41,212 42,026 40,779 29,171 ------------------------------------------------ Combined fixed charges and preferred dividends, as defined $219,490 $220,615 $192,902 $186,255 $173,947 ================================================ Earnings as defined: Net Income $155,049 $166,572 $182,989 $188,808 $213,839 Add: Provision for income taxes: Federal and State 62,236 8,684 36,465 70,552 79,260 Deferred Federal and State - net (9,655) 67,792 51,889 43,017 21,580 Investment tax credit adjustment - net 26,646 8,244 (1,317) (2,756) (37,552) Fixed charges as above 177,125 179,403 150,876 145,476 144,776 ------------------------------------------------ Total earnings, as defined $411,401 $430,695 $420,902 $445,097 $421,903 ================================================ Ratio of earnings to fixed charges, as defined 2.32 2.40 2.79 3.06 2.91 ================================================ Ratio of earnings to combined fixed charges and preferred dividends, as defined 1.87 1.95 2.18 2.39 2.43 ================================================ ------------------------ (a) "Preferred dividends," as defined by SEC regulation S-K, are computed by dividing the preferred dividend requirement by one hundred percent (100%) minus the income tax rate.