Disclosures about Segments

9 Months Ended

Sep. 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 SEPTEMBER 30,
2012 (THOUSANDS)	CLECO POWER			MIDSTREAM			RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	282,894		$	—		$	—		$	—		$	282,894
Tolling operations	—			13,890			—			(13,890		)	—
Other operations	14,905			1			502			—			15,408
Electric customer credits	(930		)	—			—			—			(930		)
Affiliate revenue	343			—			12,343			(12,686		)	—
Operating revenue, net	$	297,212		$	13,891		$	12,845		$	(26,576	)	$	297,372
Depreciation	$	33,199		$	1,499		$	233		$	—		$	34,931
Interest charges	$	21,962		$	(69	)	$	(124	)	$	197		$	21,966
Interest income	$	129		$	—		$	(194	)	$	197		$	132
Federal and state income tax expense (benefit)	$	19,740		$	2,489		$	(2,050	)	$	—		$	20,179
Segment profit	$	57,783		$	3,429		$	2,606		$	—		$	63,818
Additions to long-lived assets	$	65,073		$	799		$	503		$	—		$	66,375
Equity investment in investees	$	14,532		$	—		$	9		$	—		$	14,541
Total segment assets	$	3,840,131		$	221,503		$	194,996		$	(149,737	)	$	4,106,893

2011 (THOUSANDS)	CLECO POWER		MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	324,532	$	—	$	—		$	—		$	324,532
Tolling operations	—		9,133		—			—			9,133
Other operations	15,565		1		500			(2		)	16,064
Electric customer credits	1,852		—		—			—			1,852
Affiliate revenue	347		—		13,448			(13,795		)	$	—
Operating revenue, net	$	342,296	$	9,134	$	13,948		$	(13,797	)	$	351,581
Depreciation	$	29,539	$	1,457	$	241		$	—		$	31,237
Interest charges	$	25,306	$	752	$	(308	)	$	29		$	25,779
Interest income	$	276	$	5	$	199		$	29		$	509
Equity loss from investees, before tax	$	—	$	—	$	(1	)	$	—		$	(1	)
Federal and state income tax expense (benefit)	$	31,656	$	444	$	(7,363	)	$	—		$	24,737
Segment profit	$	53,833	$	5,946	$	6,063		$	—		$	65,842
Additions to long-lived assets	$	76,213	$	4,074	$	81		$	—		$	80,368
Equity investment in investees (1)	$	14,532	$	—	$	8		$	—		$	14,540
Total segment assets  (1)	$	3,726,471	$	233,891	$	201,074		$	(111,234	)	$	4,050,202
(1) Balances as of December 31, 2011

SEGMENT INFORMATION FOR THE NINE MONTHS ENDED SEPTEMBER 30,
2012 (THOUSANDS)	CLECO POWER		MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	720,776	$	—	$	—		$	—		$	720,776
Tolling operations	—		21,434		—			(21,434		)	—
Other operations	36,967		2		1,496			(1		)	38,464
Electric customer credits	1,025		—		—			—			1,025
Affiliate revenue	1,030		—		37,540			(38,570		)	—
Operating revenue	$	759,798	$	21,436	$	39,036		$	(60,005	)	$	760,265
Depreciation	$	93,847	$	4,491	$	689		$	1		$	99,028
Interest charges	$	61,253	$	244	$	1,320		$	388		$	63,205
Interest income	$	153	$	—	$	(379	)	$	389		$	163
Equity income from investees, before tax	$	—	$	—	$	1		$	—		$	1
Federal and state income tax expense (benefit)	$	54,748	$	7,278	$	(7,916	)	$	—		$	54,110
Segment profit	$	121,873	$	11,053	$	7,610		$	—		$	140,536
Additions to long-lived assets	$	159,836	$	6,811	$	1,371		$	—		$	168,018
Equity investment in investees	$	14,532	$	—	$	9		$	—		$	14,541
Total segment assets	$	3,840,131	$	221,503	$	194,996		$	(149,737	)	$	4,106,893

2011 (THOUSANDS)	CLECO POWER			MIDSTREAM		RECONCILING ITEMS			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	823,484		$	—	$	—		$	—		$	823,484
Tolling operations	—			16,137		—			—			16,137
Other operations	40,261			8		1,511			(5		)	41,775
Electric customer credits	(3,405		)	—		—			—			(3,405		)
Affiliate revenue	1,041			45		37,544			(38,428		)	202
Operating revenue	$	861,381		$	16,190	$	39,055		$	(38,433	)	$	878,193
Depreciation	$	86,650		$	4,370	$	728		$	1		$	91,749
Interest charges	$	74,029		$	1,963	$	1,891		$	128		$	78,011
Interest income	$	557		$	6	$	103		$	128		$	794
Equity income (loss) from investees, before tax	$	—		$	62,053	$	(2	)	$	—		$	62,051
Federal and state income tax expense (benefit)	$	61,935		$	21,296	$	(9,781	)	$	1		$	73,451
Segment profit (1)	$	119,557		$	39,274	$	6,374		$	—		$	165,205
Additions to long-lived assets	$	152,082		$	5,202	$	749		$	—		$	158,033
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								$	165,205
(2) Balances as of December 31, 2011	Unallocated items:
	Preferred dividends requirements								26
	Preferred stock redemption costs								112
	Net income applicable to common stock								$	165,067