Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2011

Variable Interest Entities [Abstract]

Equity Income (Loss) from Investments Accounted for Using the Equity Method

The following table presents the equity income (loss) from each investment accounted for using the equity method.   

	FOR THE THREE MONTHS ENDED JUNE 30,
(THOUSANDS)	2011		2010
Cajun	$	61,440	$	(1,129	)
Subsidiaries less than 100% owned by Cleco Innovations		-		-
Total equity income	$	61,440	$	(1,129	)

	FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2011			2010
Cajun	$	62,053		$	36,717
Subsidiaries less than 100% owned by Cleco Innovations		(1	)		1
Total equity income	$	62,052		$	36,718

Components of Equity Investments

The table below presents the components of Cleco Power’s equity investment in Oxbow.

INCEPTION TO DATE (THOUSANDS)	AT JUNE 30, 2011		AT DECEMBER 31, 2010
Purchase price	$	12,873	$	12,873
Cash contributions		200		200
Total equity investment in investee	$	13,073	$	13,073

Comparison of Investee's Assets and Liabilities with Maximum Exposure to Loss

The following table compares the carrying amount of Oxbow’s assets and liabilities with Cleco’s maximum exposure to loss related to its investment in Oxbow.

(THOUSANDS)	AT JUNE 30, 2011		AT DECEMBER 31, 2010
Oxbow’s net assets/liabilities	$	26,146	$	26,146
Cleco Power’s 50% equity	$	13,073	$	13,073
Cleco’s maximum exposure to loss	$	13,073	$	13,073

Summarized Financial Information for Equity Method Investments

The following tables contain summarized financial information for Oxbow.

(THOUSANDS)	AT JUNE 30, 2011		AT DECEMBER 31, 2010
Current assets	$	521	$	583
Property, plant and equipment, net		23,498		23,597
Other assets		2,152		2,141
Total assets	$	26,171	$	26,321
Current liabilities	$	25	$	175
Partners’ capital		26,146		26,146
Total liabilities and partners’ capital	$	26,171	$	26,321

	FOR THE THREE MONTHS ENDED JUNE 30,
(THOUSANDS)	2011		2010
Operating revenue	$	293	$	225
Operating expenses		293		225
Income before taxes	$	-	$	-

	FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2011		2010
Operating revenue	$	498	$	319
Operating expenses		498		319
Income before taxes	$	-	$	-

The following tables contain summarized financial information for Cajun prior to the disposition of Acadia Unit 2.

(THOUSANDS)	AT DECEMBER 31, 2010
Current assets	$	7,133
Property, plant and equipment, net		203,793
Total assets	$	210,926
Current liabilities	$	1,950
Other liabilities		9,429
Partners’ (deficit) capital		199,547
Total liabilities and partners’ capital	$	210,926

	FOR THE THREE MONTHS ENDED JUNE 30,
(THOUSANDS)		2011	*		2010
Operating revenue	$	50		$	10,861
Operating expenses		1,133			13,291
Gain on sale of assets		71,465			-
Other income		57			172
Operating net income (loss)	$	70,439		$	(2,258	)
* The 2011 income statement includes activity prior to the April 29, 2011, reconsolidation.

	FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)		2011	*		2010
Operating revenue	$	5,227		$	14,625
Operating expenses		5,914			23,454
Gain on sale of assets		71,422			82,033
Other income		929			229
Operating net income	$	71,664		$	73,433
* The 2011 income statement includes activity prior to the April 29, 2011, reconsolidation.