Disclosures about Segments

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Disclosures about Segments

Note 8 — Disclosures about Segments

Cleco’s reportable segments are based on its method of internal reporting, which disaggregates business units by first-tier subsidiary. Cleco’s reportable segments are Cleco Power and Midstream. The reconciling items in the following tables consist of the holding company, a shared services subsidiary, two transmission interconnection facilities, and an investment subsidiary.

Each reportable segment engages in business activities from which it earns revenue and incurs expenses. Segment managers report periodically to Cleco’s Chief Executive Officer (the chief operating decision-maker) with discrete financial information and, at least quarterly, present discrete financial information to Cleco Corporation’s Board of Directors. Each reportable segment prepared budgets for 2012 that were presented to and approved by Cleco Corporation’s Board of Directors.

The financial results of Cleco’s segments are presented on an accrual basis. Management evaluates the performance of its segments and allocates resources to them based on segment profit and the requirements to implement new strategic initiatives and projects to meet current business objectives. Material intercompany transactions occur on a regular basis. These intercompany transactions relate primarily to joint and common administrative support services provided by Support Group.

SEGMENT INFORMATION FOR THE THREE MONTHS ENDED JUNE 30,
2012 (THOUSANDS)	CLECO POWER			MIDSTREAM			RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	228,293		$	—		$	—		$	—		$	228,293
Tolling operations	—			6,309			—			(6,309		)	—
Other operations	11,613			1			497			—			12,111
Electric customer credits	(281		)	—			—			—			(281		)
Affiliate revenue	342			—			13,590			(13,932		)	—
Operating revenue, net	$	239,967		$	6,310		$	14,087		$	(20,241	)	$	240,123
Depreciation	$	30,559		$	1,460		$	232		$	(1	)	$	32,250
Interest charges	$	20,805		$	(1,159	)	$	824		$	146		$	20,616
Interest income	$	(6	)	$	—		$	(141	)	$	144		$	(3	)
Federal and state income tax expense (benefit)	$	20,501		$	4,051		$	(4,031	)	$	(1	)	$	20,520
Segment profit	$	37,284		$	6,534		$	2,868		$	—		$	46,686
Additions to long-lived assets	$	55,614		$	6,025		$	482		$	—		$	62,121
Equity investment in investees	$	14,532		$	—		$	9		$	—		$	14,541
Total segment assets	$	3,704,786		$	218,073		$	189,000		$	(108,351	)	$	4,003,508

2011 (THOUSANDS)	CLECO POWER			MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	260,485		$	—	$	—		$	—		$	260,485
Tolling operations	—			4,222		—			—			4,222
Other operations	12,453			7		526			(3		)	12,983
Electric customer credits	(4,822		)	—		—			—			(4,822		)
Affiliate revenue	348			12		13,075			(13,380		)	$	55
Operating revenue, net	$	268,464		$	4,241	$	13,601		$	(13,383	)	$	272,923
Depreciation	$	28,996		$	1,457	$	246		$	—		$	30,699
Interest charges	$	24,322		$	628	$	631		$	38		$	25,619
Interest income	$	168		$	—	$	(35	)	$	37		$	170
Equity income from investees, before tax	$	—		$	61,440	$	—		$	—		$	61,440
Federal and state income tax expense (benefit)	$	15,879		$	21,536	$	(895	)	$	—		$	36,520
Segment profit (1)	$	35,694		$	34,425	$	229		$	—		$	70,348
Additions to long-lived assets	$	35,185		$	122	$	611		$	—		$	35,918
Equity investment in investees (2)	$	14,532		$	—	$	8		$	—		$	14,540
Total segment assets (2)	$	3,726,471		$	233,891	$	201,074		$	(111,234	)	$	4,050,202
(1) Reconciliation of segment profit to consolidated profit:	Segment profit								$	70,348
(2) Balances as of December 31, 2011	Unallocated items:
	Preferred dividends requirements								15
	Preferred stock redemption costs								112
	Net income applicable to common stock								$	70,221

SEGMENT INFORMATION FOR THE SIX MONTHS ENDED JUNE 30,
2012 (THOUSANDS)	CLECO POWER		MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	437,883	$	—	$	—		$	—		$	437,883
Tolling operations	—		7,543		—			(7,543		)	—
Other operations	22,062		1		994			(1		)	23,056
Electric customer credits	1,955		—		—			—			1,955
Affiliate revenue	687		—		25,197			(25,884		)	—
Operating revenue	$	462,587	$	7,544	$	26,191		$	(33,428	)	$	462,894
Depreciation	$	60,648	$	2,992	$	456		$	1		$	64,097
Interest charges	$	39,291	$	313	$	1,444		$	192		$	41,240
Interest income	$	23	$	—	$	(185	)	$	193		$	31
Equity income from investees, before tax	$	—	$	—	$	1		$	—		$	1
Federal and state income tax expense (benefit)	$	35,008	$	4,789	$	(5,866	)	$	(1	)	$	33,930
Segment profit	$	64,089	$	7,624	$	5,004		$	1		$	76,718
Additions to long-lived assets	$	106,002	$	2,223	$	869		$	—		$	109,094
Equity investment in investees	$	14,532	$	—	$	9		$	—		$	14,541
Total segment assets	$	3,704,786	$	218,073	$	189,000		$	(108,351	)	$	4,003,508

2011 (THOUSANDS)	CLECO POWER			MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	498,953		$	—	$	—		$	—		$	498,953
Tolling operations	—			7,003		—			—			7,003
Other operations	24,696			7		1,010			(2		)	25,711
Electric customer credits	(5,256		)	—		—			—			(5,256		)
Affiliate revenue	694			45		24,096			(24,633		)	202
Operating revenue	$	519,087		$	7,055	$	25,106		$	(24,635	)	$	526,613
Depreciation	$	57,111		$	2,913	$	487		$	1		$	60,512
Interest charges	$	48,723		$	1,211	$	2,198		$	100		$	52,232
Interest income	$	281		$	1	$	(96	)	$	99		$	285
Equity income (loss) from investees, before tax	$	—		$	62,053	$	(1	)	$	—		$	62,052
Federal and state income tax expense (benefit)	$	30,279		$	20,853	$	(2,417	)	$	(1	)	$	48,714
Segment profit (loss) (1)	$	65,724		$	33,328	$	311		$	—		$	99,363
Additions to long-lived assets	$	75,914		$	1,128	$	671		$	—		$	77,713
Equity investment in investees (2)	$	14,532		$	—	$	8		$	—		$	14,540
Total segment assets (2)	$	3,726,471		$	233,891	$	201,074		$	(111,234	)	$	4,050,202
(1) Reconciliation of segment profit to consolidated profit:	Segment profit								$	99,363
(2) Balances as of December 31, 2011	Unallocated items:
	Preferred dividends requirements								26
	Preferred stock redemption costs								112
	Net income applicable to common stock								$	99,225