Exhibit 99(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, September 30,
1990 1991 1992 1993 1994 1995
Fixed charges, as defined:
Interest on long-term debt $154,357 $158,816 $128,672 $124,633 $124,820 $124,992
Interest on notes payable 87 -- 150 898 1,948 1,729
Other interest charges 6,378 5,924 5,591 5,706 4,546 5,230
Amortization of expense and premium on debt - net(cr) 3,397 3,282 7,100 5,720 5,130 5,387
Interest applicable to rentals 12,906 11,381 9,363 8,519 8,332 9,088
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Total fixed charges, as defined 177,125 179,403 150,876 145,476 144,776 146,426
Preferred dividends, as defined (a) 42,365 41,212 42,026 40,779 29,171 28,777
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Combined fixed charges and preferred dividends, as defined $219,490 $220,615 $192,902 $186,255 $173,947 $175,203
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Earnings as defined:
Net Income $155,049 $166,572 $182,989 $188,808 $213,839 $243,325
Add:
Provision for income taxes:
Federal and State 62,236 8,684 36,465 70,552 79,260 152,648
Deferred Federal and State - net (9,655) 67,792 51,889 43,017 21,580 (27,948)
Investment tax credit adjustment - net 26,646 8,244 (1,317) (2,756) (37,552) (36,721)
Fixed charges as above 177,125 179,403 150,876 145,476 144,776 146,426
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Total earnings, as defined $411,401 $430,695 $420,902 $445,097 $421,903 $477,730
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Ratio of earnings to fixed charges, as defined 2.32 2.40 2.79 3.06 2.91 3.26
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.87 1.95 2.18 2.39 2.43 2.73
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(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.