CLECO POWER LLC - FORM 10-Q - EX-12.B - EXHIBIT 12.B - August 11, 2016

Attached files

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EX-31.3 - EXHIBIT 31.3 - CLECO POWER LLCcnl-63016xq2ex313.htm
10-Q - 10-Q - CLECO POWER LLCcnl-6302016xq2.htm
EX-95 - EXHIBIT 95 - CLECO POWER LLCcnl-63016xq2ex95.htm
EX-32.4 - EXHIBIT 32.4 - CLECO POWER LLCcnl-63016xq2ex324.htm
EX-32.3 - EXHIBIT 32.3 - CLECO POWER LLCcnl-63016xq2ex323.htm
EX-32.2 - EXHIBIT 32.2 - CLECO POWER LLCcnl-63016xq2ex322.htm
EX-32.1 - EXHIBIT 32.1 - CLECO POWER LLCcnl-63016xq2ex321.htm
EX-31.4 - EXHIBIT 31.4 - CLECO POWER LLCcnl-63016xq2ex314.htm
EX-31.2 - EXHIBIT 31.2 - CLECO POWER LLCcnl-63016xq2ex312.htm
EX-31.1 - EXHIBIT 31.1 - CLECO POWER LLCcnl-63016xq2ex311.htm
EX-12.A - EXHIBIT 12.A - CLECO POWER LLCcnl-63016xq2ex12a.htm
EX-10.2 - EXHIBIT 10.2 - CLECO POWER LLCcnl-63016xq2ex102.htm


CLECO POWER
EXHIBIT 12(b)
 
Computation of Ratios of Earnings to Fixed Charges (Unaudited)
 
 
 
 
 
 
 
 
 
 
(THOUSANDS, EXCEPT RATIOS)
FOR THE SIX MONTHS ENDED JUNE 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 (loss) income
$
(40,350
)
 
$
141,350

 
$
154,316

 
$
150,410

 
$
146,848

 
Income tax (benefit) expense
(26,463
)
 
79,294

 
76,974

 
79,381

 
68,133

 
Total fixed charges (from below)
39,403

 
78,364

 
77,230

 
85,103

 
84,901

 
Total (losses) earnings
$
(27,410
)
 
$
299,008

 
$
308,520

 
$
314,894

 
$
299,882

 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest
$
37,475

 
$
74,394

 
$
73,140

 
$
80,905

 
$
79,975

 
Amortization of debt expense, premium, net
1,559

 
3,052

 
3,113

 
3,088

 
2,819

 
Portion of rentals representative of an interest factor**
252

 
572

 
489

 
488

 
489

 
Interest of capitalized lease
117

 
346

 
488

 
622

 
1,618

 
Total fixed charges
$
39,403

 
$
78,364

 
$
77,230

 
$
85,103

 
$
84,901

 
Ratio of earnings to fixed charges
*

 
3.82

x
3.99

x
3.70

x
3.53

x
*Earnings for the six months ended June 30, 2016, 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.