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
1991 1992 1993 1994 1995
Fixed charges, as defined:
Interest on long-term debt $158,816 $128,672 $124,633 $124,820 $124,507
Interest on notes payable -- 150 898 1,948 1,932
Other interest charges 5,924 5,591 5,706 4,546 5,278
Amortization of expense and premium on debt - net(cr) 3,282 7,100 5,720 5,130 5,184
Interest applicable to rentals 11,381 9,363 8,519 8,332 9,332
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Total fixed charges, as defined 179,403 150,876 145,476 144,776 146,233
Preferred dividends, as defined (a) 41,212 42,026 40,779 29,171 32,847
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Combined fixed charges and preferred dividends, as defined $220,615 $192,902 $186,255 $173,947 $179,080
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Earnings as defined:
Net Income $166,572 $182,989 $188,808 $213,839 $201,537
Add:
Provision for income taxes:
Federal and State 8,684 36,465 70,552 79,260 114,665
Deferred Federal and State - net 67,792 51,889 43,017 21,580 8,148
Investment tax credit adjustment - net 8,244 (1,317) (2,756) (37,552) (5,699)
Fixed charges as above 179,403 150,876 145,476 144,776 146,233
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Total earnings, as defined $430,695 $420,902 $445,097 $421,903 $464,884
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Ratio of earnings to fixed charges, as defined 2.40 2.79 3.06 2.91 3.18
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Ratio of earnings to combined fixed charges and
preferred dividends, as defined 1.95 2.18 2.39 2.43 2.60
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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.