Variable Interest Entities (Tables)

9 Months Ended

Sep. 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 SEPTEMBER 30,
(THOUSANDS)	2011			2010
Cajun	$	-		$	2,494
Subsidiaries less than 100% owned by Cleco Innovations		(1	)		-
Total equity (loss) income	$	(1	)	$	2,494

	FOR THE NINE MONTHS ENDED SEPTEMBER 30,
(THOUSANDS)	2011			2010
Cajun	$	62,053		$	39,211
Subsidiaries less than 100% owned by Cleco Innovations		(2	)		1
Total equity income	$	62,051		$	39,212

Components of Equity Investments

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

INCEPTION TO DATE (THOUSANDS)	AT SEPTEMBER 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 SEPTEMBER 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 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’ capital		199,547
Total liabilities and partners’ capital	$	210,926

(THOUSANDS)	FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2010
Operating revenue		$	31,883
Operating expenses			30,566
Other income			3,671
Income before taxes		$	4,988

	FOR THE NINE MONTHS ENDED SEPTEMBER 30,
(THOUSANDS)		2011	*		2010
Operating revenue	$	5,227		$	46,508
Operating expenses		5,914			54,011
Gain on sale of assets		71,422			82,023
Other income		929			3,902
Income before taxes	$	71,664		$	78,422
* The 2011 income statement includes only activity prior to the April 29, 2011, reconsolidation.

The following tables contain summarized financial information for Oxbow.

(THOUSANDS)	AT SEPTEMBER 30, 2011		AT DECEMBER 31, 2010
Current assets	$	685	$	583
Property, plant and equipment, net		23,422		23,597
Other assets		2,148		2,141
Total assets	$	26,255	$	26,321
Current liabilities	$	36	$	175
Other liabilities		73		-
Partners’ capital		26,146		26,146
Total liabilities and partners’ capital	$	26,255	$	26,321

	FOR THE THREE MONTHS ENDED SEPTEMBER 30,
(THOUSANDS)	2011		2010
Operating revenue	$	382	$	245
Operating expenses		382		245
Income before taxes	$	-	$	-

	FOR THE NINE MONTHS ENDED SEPTEMBBER 30,
(THOUSANDS)	2011		2010
Operating revenue	$	880	$	564
Operating expenses		880		564
Income before taxes	$	-	$	-