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CLECO CORPORATION
COMPUTATION OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(Unaudited)
<TABLE>
<CAPTION>
(In thousands,
except ratios)
FOR THE TWELVE
MONTHS ENDED
SEPTEMBER 30, 2000
<S> <C>
Earnings $ 65,649
Income taxes 30,806
------------
Earnings from continuing operations before income taxes $ 96,455
============
Fixed charges:
Interest, long-term debt $ 31,758
Interest, other (including interest on short-term debt) 9,431
Amortization of debt expense, premium, net 1,309
Portion of rentals representative of an interest factor 709
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Total fixed charges $ 43,207
============
Earnings from continuing operations before
income taxes and fixed charges $ 139,662
============
Ratio of earnings to fixed charges 3.23x
============
Fixed charges from above $ 43,207
Preferred stock dividends* 2,992
------------
Total fixed charges and preferred stock dividends $ 46,199
============
Ratio of earnings to combined fixed charges and
preferred stock dividends 3.02x
============
</TABLE>
* Preferred stock dividends multiplied by the ratio of pretax income to net
income.
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