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Variable Interest Entities (Tables)
9 Months Ended
Sep. 30, 2012
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 SEPT. 30,
 
 
FOR THE NINE MONTHS
ENDED SEPT. 30,
 
(THOUSANDS)
2012

 
2011

 
2012

 
2011

Cajun
$

 
$

 
$

 
$
62,053

Subsidiaries less than 100% owned by Cleco Innovations

 
(1
)
 
1

 
(2
)
Total equity (loss) income
$

 
$
(1
)
 
$
1

 
$
62,051

Equity Method Investments - Summarized Financial Information
The following table contains summarized financial information for Cajun prior to the disposition of Acadia Unit 2.
(THOUSANDS)
FOR THE NINE MONTHS
ENDED SEPT. 30, 2011
*
 
Operating revenue
 
$
5,227

Operating expenses
 
5,914

Gain on sale of assets
 
71,422

Other income
 
929

Income before taxes
 
$
71,664

*The 2011 income statement includes only activity through the April 29, 2011, reconsolidation.
The following tables contain summarized financial information for Oxbow.
(THOUSANDS)
AT SEPT. 30, 2012

 
AT DEC. 31, 2011

Current assets
$
1,753

 
$
1,711

Property, plant, and equipment, net
23,119

 
23,339

Other assets
4,247

 
4,128

Total assets
$
29,119

 
$
29,178

Current liabilities
$
24

 
$
40

Other liabilities
30

 
73

Partners’ capital
29,065

 
29,065

Total liabilities and partners’ capital
$
29,119

 
$
29,178


 
FOR THE THREE MONTHS
ENDED SEPT. 30,
 
 
FOR THE NINE MONTHS
ENDED SEPT. 30,
 
(THOUSANDS)
2012

 
2011

 
2012

 
2011

Operating revenue
$
450

 
$
382

 
$
1,125

 
$
880

Operating expenses
450

 
382

 
1,125

 
880

Income before taxes
$

 
$

 
$

 
$

Components of Equity Investments
The following table presents the components of Cleco Power’s equity investment in Oxbow.
INCEPTION TO DATE (THOUSANDS)
AT SEPT. 30, 2012

 
AT DEC. 31, 2011

Purchase price
$
12,873

 
$
12,873

Cash contributions
1,659

 
1,659

Total equity investment in investee
$
14,532

 
$
14,532

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 SEPT. 30, 2012

 
AT DEC. 31, 2011

Oxbow’s net assets/liabilities
$
29,065

 
$
29,065

Cleco Power’s 50% equity
$
14,532

 
$
14,532

Cleco’s maximum exposure to loss
$
14,532

 
$
14,532