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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2011

The following table summarizes the effective income tax rates for Cleco Corporation and Cleco Power for the three- and nine-month periods ended September 30, 2011, and 2010.

	FOR THE THREE MONTHS ENDED SEPTEMBER 30,		FOR THE NINE MONTHS ENDED SEPTEMBER 30,
	2011	2010	2011	2010
Cleco Corporation	27.3%	37.8%	30.8%	35.2%
Cleco Power	37.0%	33.7%	34.1%	32.1%

Liability for Unrecognized Tax Benefits

The total amounts of uncertain tax positions and related interest payable and interest expense, as reflected on Cleco Corporation and Cleco Power’s Condensed Consolidated Balance Sheets and Statements of Income, are shown in the following tables:

(THOUSANDS)	AT SEPTEMBER 30, 2011		AT DECEMBER 31, 2010
Interest payable
Cleco Corporation	$	43,972	$	41,018
Cleco Power	$	16,567	$	15,211

	FOR THE THREE MONTHS ENDED SEPTEMBER 30,						FOR THE NINE MONTHS ENDED SEPTEMBER 30,
(THOUSANDS)	2011			2010			2011		2010
Interest charges
Cleco Corporation	$	93		$	2,518		$	2,954	$	6,504
Cleco Power	$	(420	)	$	(5,091	)	$	1,356	$	(2,613	)

The total liability for unrecognized tax benefits for Cleco Corporation and Cleco Power at September 30, 2011, and December 31, 2010, are shown in the following tables:

Cleco

(THOUSANDS)	LIABILITY FOR UNRECOGNIZED TAX BENEFITS
Balance at December 31, 2010	$	102,785
Reduction for tax positions of current period		(3,116	)
Additions for tax positions of prior periods		10,585
Reduction for tax positions of prior periods		(9,546	)
Reduction for settlement with taxing authority		-
Reduction for lapse of statute of limitations		-
Balance at September 30, 2011	$	100,708

Cleco Power

(THOUSANDS)	LIABILITY FOR UNRECOGNIZED TAX BENEFITS
Balance at December 31, 2010	$	60,975
Reduction for tax positions of current period		(3,032	)
Additions for tax positions of prior periods		3,634
Reduction for tax positions of prior periods		(8,670	)
Reduction for settlement with taxing authority		-
Reduction for lapse of statute of limitations		-
Balance at September 30, 2011	$	52,907

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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