We consider the Q-state Potts model in the random-cluster formulation, defined on finite two-dimensional lattices of size L × N with toroidal boundary conditions. Due to the non-locality of the clusters, the partition function Z ( L , N ) cannot be written simply as a trace of the transfer matrix T L . Using a combinatorial method, we establish the decomposition Z ( L , N ) = ∑ l , D k b ( l , D k ) K l , D k , where the characters K l , D k = ∑ i ( λ i ) N are simple traces. In this decomposition, the amplitudes b ( l , D k ) of the eigenvalues λ i of T L are labelled by the number l = 0 , 1 , … , L of clusters which are non-contractible with respect to the transfer ( N) direction, and a representation D k of the cyclic group C l . We obtain rigorously a general expression for b ( l , D k ) in terms of the characters of C l , and, using number theoretic results, show that it coincides with an expression previously obtained in the continuum limit by Read and Saleur.