XML 60 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating activities    
Net income $ 30,031 $ 29,016
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,445 47,662
Income from equity investments (1) (611)
Unearned compensation expense 1,329 2,487
Allowance for other funds used during construction (1,017) (1,978)
Net deferred income taxes 889 (13,144)
Deferred fuel costs 7,433 3,030
Cash surrender value of company-/trust-owned life insurance (1,806) (1,141)
Changes in assets and liabilities:    
Accounts receivable 6,253 (13,958)
Unbilled revenue 4,302 12,269
Fuel, materials and supplies inventory (4,187) 23,920
Prepayments 1,820 2,520
Accounts payable (53,174) (35,617)
Customer deposits 2,952 3,205
Postretirement benefit obligations 2,831 (58,370)
Regulatory assets and liabilities, net (4,436) (12,266)
Other deferred accounts (5,835) 2,313
Taxes accrued 12,112 2,958
Interest accrued 4,511 12,555
Energy risk management assets and liabilities, net (174) 749
Other operating (905) (3,297)
Net cash provided by operating activities 41,373 2,302
Investing activities    
Additions to property, plant, and equipment (39,380) (21,883)
Allowance for other funds used during construction 1,017 1,978
Return of equity investment in tax credit fund 10,215 0
Contributions to tax credit fund (18,540) (9,239)
Transfer of cash from restricted accounts 5,248 9,391
Other investing 615 216
Net cash provided by (used in) investing activities (40,825) (19,537)
Financing activities    
Payments on credit facility (10,000) (15,000)
Retirement of long-term debt (17,847) (6,283)
Dividends paid on preferred stock 0 (12)
Dividends paid on common stock (18,905) (15,171)
Other financing (123) (236)
Net cash (used in) provided by financing activities (46,875) (36,702)
Net (decrease) increase in cash and cash equivalents (46,327) (53,937)
Cash and cash equivalents at beginning of period 93,576 191,128
Cash and cash equivalents at end of period 47,249 137,191
Supplementary cash flow information    
Interest paid (net of amount capitalized) 8,251 9,619
Income taxes paid (refunded), net 6 11,068
Supplementary non-cash investing and financing activities    
Accrued additions to property, plant, and equipment 6,974 23,245
Non-cash additions to property, plant, and equipment 619 124
Issuance of treasury stock - LTICP 16 23
Issuance of common stock - LTICP/ESPP 86 77
Cleco Power [Member]
   
Operating activities    
Net income 26,805 30,030
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,049 31,082
Income from equity investments 0 0
Unearned compensation expense 297 753
Allowance for other funds used during construction (1,017) (1,978)
Net deferred income taxes 14,052 4,326
Deferred fuel costs 7,433 3,030
Cash surrender value of company-/trust-owned life insurance (107) 11
Changes in assets and liabilities:    
Accounts receivable 5,767 (10,720)
Accounts and notes receivable, affiliate 286 (725)
Unbilled revenue 4,302 12,269
Fuel, materials and supplies inventory (4,105) 24,038
Prepayments 1,085 1,927
Accounts payable (43,623) (34,966)
Accounts and notes payable, affiliate 11,055 9,032
Customer deposits 2,952 3,205
Postretirement benefit obligations 1,673 (58,893)
Regulatory assets and liabilities, net (4,436) (12,266)
Other deferred accounts (8,747) 1,379
Taxes accrued (2,171) (9,080)
Interest accrued 5,330 12,833
Energy risk management assets and liabilities, net (174) 749
Other operating (2,193) (737)
Net cash provided by operating activities 47,513 5,299
Investing activities    
Additions to property, plant, and equipment (38,507) (20,720)
Allowance for other funds used during construction 1,017 1,978
Transfer of cash from restricted accounts 5,248 9,391
Other investing 1,483 396
Net cash provided by (used in) investing activities (30,759) (8,955)
Financing activities    
Retirement of long-term debt (17,847) (6,283)
Distribution to parent (30,000) (50,000)
Other financing (480) (533)
Net cash (used in) provided by financing activities (48,327) (56,816)
Net (decrease) increase in cash and cash equivalents (31,573) (60,472)
Cash and cash equivalents at beginning of period 67,458 184,912
Cash and cash equivalents at end of period 35,885 124,440
Supplementary cash flow information    
Interest paid (net of amount capitalized) 8,180 8,481
Income taxes paid (refunded), net 0 (229)
Supplementary non-cash investing and financing activities    
Accrued additions to property, plant, and equipment 11,262 23,246
Non-cash additions to property, plant, and equipment $ 619 $ 124