Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Accounting Policies [Abstract]

Reclassifications

The corrections to the December 31, 2010, and 2009 Consolidated Statements of Cash Flows are presented in the following tables.

Cleco
	FOR THE YEAR ENDED
				2009						2010
(THOUSANDS)	AS REPORTED			AS ADJUSTED			AS REPORTED			AS ADJUSTED
Accounts receivable	$	8,310		$	8,310		$	(35,156	)	$	(16,156	)
Accounts payable	$	11,231		$	18,593		$	3,459		$	8,167
Retainage payable	$	(11,921	)	$	(13,011	)	$	1,913		$	(27	)
Net cash provided by operating activities	$	135,179		$	141,452		$	193,405		$	215,173
Additions to property, plant, and equipment	$	(250,286	)	$	(256,558	)	$	(283,389	)	$	(305,157	)
Net cash used in investing activities	$	(177,176	)	$	(183,449	)	$	(285,137	)	$	(306,905	)
Net increase in cash and cash equivalents	$	47,710		$	47,710		$	45,935		$	45,935
Cash and cash equivalents at the beginning of the period	$	97,483		$	97,483		$	145,193		$	145,193
Cash and cash equivalents at the end of the period	$	145,193		$	145,193		$	191,128		$	191,128
Accrued additions to property, plant, and equipment	$	3,069		$	11,396		$	17,765		$	6,032

Cleco Power
	FOR THE YEAR ENDED
				2009						2010
(THOUSANDS)	AS REPORTED			AS ADJUSTED			AS REPORTED			AS ADJUSTED
Accounts receivable	$	9,646		$	9,646		$	(35,261	)	$	(16,261	)
Accounts payable	$	10,831		$	18,254		$	3,936		$	8,934
Retainage payable	$	(11,921	)	$	(13,011	)	$	1,913		$	(27	)
Net cash provided by operating activities	$	141,726		$	148,059		$	148,701		$	170,759
Additions to property, plant, and equipment	$	(249,252	)	$	(255,585	)	$	(127,153	)	$	(149,211	)
Net cash used in investing activities	$	(141,998	)	$	(148,331	)	$	(112,614	)	$	(134,672	)
Net increase in cash and cash equivalents	$	46,571		$	46,571		$	46,799		$	46,799
Cash and cash equivalents at the beginning of the period	$	91,542		$	91,542		$	138,113		$	138,113
Cash and cash equivalents at the end of the period	$	138,113		$	138,113		$	184,912		$	184,912
Accrued additions to property, plant, and equipment	$	3,069		$	11,335		$	17,765		$	5,697

Useful Lives of Property, Plant and Equipment

Depreciation on property, plant, and equipment is calculated primarily on a straight-line basis over the useful lives of the assets, as follows:

	YEARS
Utility plant	5-58
Other	5-44

Property, Plant and Equipment

Property, plant, and equipment consist of:

	AT DECEMBER 31,
(THOUSANDS)	2011			2010
Regulated utility plants	$	3,759,541		$	3,552,054
Other	264,114			258,842
Total property, plant, and equipment	4,023,655			3,810,896
Accumulated depreciation	(1,230,783		)	(1,162,456		)
Net property, plant, and equipment	$	2,792,872		$	2,648,440

Plant Acquisition Adjustments

The following table discloses the amounts of plant acquisition adjustments reported in Cleco Power’s property, plant, and equipment and the associated accumulated amortization reported in accumulated depreciation at December 31, 2011, and December 31, 2010.

(THOUSANDS)	AT DECEMBER 31, 2011		AT DECEMBER 31, 2010
Acadia Unit 1
Plant acquisition adjustment	$	95,578	$	95,578
Less:  accumulated amortization	5,836		2,653
Net plant acquisition adjustment	$	89,742	$	92,925
Teche
Plant acquisition adjustment	5,359		$	5,359
Less:  accumulated amortization	3,724		3,470
Net plant acquisition adjustment	$	1,635	$	1,889

Restricted Cash

Cleco’s restricted cash consisted of:

	AT DECEMBER 31,
(THOUSANDS)	2011		2010
Diversified Lands’ mitigation escrow	$	97	$	97
Cleco Katrina/Rita’s storm recovery bonds	8,761		8,822
Cleco Power’s future storm restoration costs	24,876		25,992
Cleco Power’s renewable energy grant	381		—
Cleco Power’s GO Zone bonds	—		6,137
Cleco Power’s NOx allowance escrow	1,713		—
Total restricted cash	$	35,828	$	41,048

Earnings Per Average Common Share

The following table shows the calculation of basic and diluted earnings per share.

	FOR THE YEAR ENDED DECEMBER 31,
				2011					2010					2009
(THOUSANDS, EXCEPT SHARES AND PER SHARE AMOUNTS)	INCOME		SHARES	PER SHARE AMOUNT		INCOME		SHARES	PER SHARE AMOUNT		INCOME		SHARES	PER SHARE AMOUNT
Income from continuing operations	$	195,848				$	255,391				$	106,307
Deduct:  non-participating stock dividends (4.5% preferred stock)	26					46					46
Deduct:  non-participating stock redemption costs (4.5% preferred stock)	112					—					—
Basic net income applicable to common stock	$	195,710	60,488,740	$3.24		$	255,345	60,431,142	$	4.23	$	106,261	60,187,894	$	1.77
Effect of dilutive securities
Add:  stock option grants			20,647					32,080					32,050
Add:  restricted stock (LTICP)			324,177					291,367					278,261
Diluted net income applicable to common stock	$	195,710	60,833,564	$	3.22	$	255,345	60,754,589	$	4.20	$	106,261	60,498,205	$	1.76

Stock Option Grants Excluded From Calculation of Diluted Earnings Per Share

Stock option grants excluded from the computation of 2009 diluted earnings per share are presented in the following table. These stock option grants were excluded from the computation of 2009 diluted earnings per share because they had exercise prices higher than the average market price. There were no stock option grants excluded from the computation of 2011 or 2010 diluted earnings per share.

	FOR THE YEAR ENDED DECEMBER 31, 2009
	STRIKE PRICE	AVERAGE MARKET  PRICE	SHARES
Stock option grants excluded	$ 23.31 - $ 24.25	$23.28	57,766