XML 144 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities      
Net income $ 163,648 $ 195,848 $ 255,391
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 162,430 160,765 168,363
Gain on forgiveness of debt 0 0 (129,870)
Return on equity investment in investees 0 58,665 0
(Income) loss from equity investments 0 (62,050) (38,849)
Unearned compensation expense 6,180 7,416 5,587
Allowance for other funds used during construction (6,711) (4,947) (12,413)
Net deferred income taxes 19,930 23,618 54,873
Deferred fuel costs (12,222) 653 21,086
Cash surrender value of company-owned life insurance (3,300) 1,687 (2,759)
Changes in assets and liabilities:      
Accounts receivable (11,543) (19,146) (12,503)
Unbilled revenue 1,468 14,520 (22,675)
Fuel, materials and supplies inventory (9,539) 35,442 (7,465)
Prepayments (59) 1,520 (2,316)
Accounts payable (23,016) (3,618) 8,140
Customer deposits 11,167 12,693 12,313
Long-term receivable 0 0 27,976
Postretirement benefit obligations 7,485 (55,529) 2,975
Regulatory assets and liabilities, net (31,043) (43,131) (88,333)
Contingent sale obligations 0 10,900 4,714
Other deferred accounts (15,695) 4,305 (114)
Taxes accrued 9,786 5,171 (34,266)
Interest accrued (6,676) (38,103) 2,466
Energy risk management assets and liabilities, net 38 4,646 7,885
Other operating 777 (1,264) (3,307)
Net cash provided by operating activities 263,105 310,061 216,899
Investing activities      
Additions to property, plant, and equipment (245,033) (202,405) (306,883)
Allowance for other funds used during construction 6,711 4,947 12,413
Property plant and equipment grants 16,647 2,788 0
Insurance reimbursement for property loss 5,454 4,482 0
Return of equity investment in investees 0 89,654 0
Equity investment in investees 0 (1,460) (8,700)
Return of equity investment in tax credit fund 37,652 33,430 0
Contributions to tax credit fund (59,645) (43,921) (35,871)
Repayment of company-owned life insurance loan 0 0 (14,355)
Transfer of cash from restricted accounts 21,607 5,220 45,535
Purchase of restricted investments (11,966) 0 0
Sale of restricted investments 1,348 0 0
Other investing (1,939) 3,549 (770)
Net cash provided by (used in) investing activities (229,164) (103,716) (308,631)
Financing activities      
Issuance of short-term debt 0 0 150,000
Retirement of short-term debt 0 (150,000) 0
Draws on credit facility 25,000 95,000 20,000
Payments on credit facility (10,000) (100,000) (100,000)
Issuance of long-term debt 50,000 100,000 247,245
Retirement of long-term debt (74,368) (12,269) (120,867)
Repurchase of long-term debt 0 (132,000) 0
Repurchase of common stock (8,007) (13,009) 0
Settlement of treasury rate lock 0 (18,636) 5,675
Dividends paid on common stock (78,844) (68,023) (58,988)
Other financing (278) (4,960) (5,398)
Net cash (used in) provided by financing activities (96,497) (303,897) 137,667
Net (decrease) increase in cash and cash equivalents (62,556) (97,552) 45,935
Cash and cash equivalents at beginning of period 93,576 191,128 145,193
Cash and cash equivalents at end of period 31,020 93,576 191,128
Supplementary cash flow information      
Interest paid (net of amount capitalized) 80,823 87,359 90,773
Interest paid on treasury rate lock settlement 0 8,128 0
Income taxes paid (refunded), net (624) 46,636 75,498
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment 16,102 17,525 6,032
Issuance of common stock - ESPP 340 328 299
Non-cash additions to property, plant, and equipment 21,559 7,824 152,067
Non-cash return of investment 0 0 152,067
Non-cash contribution to subsidiary, net of tax 0 0 225,732
Cleco Power [Member]
     
Operating activities      
Net income 146,848 142,835 147,405
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 137,053 127,109 119,940
(Income) loss from equity investments   0 0
Unearned compensation expense 1,587 1,796 1,846
Allowance for other funds used during construction (6,711) (4,947) (12,413)
Net deferred income taxes 57,364 45,608 34,555
Deferred fuel costs (12,222) 653 21,086
Cash surrender value of company-owned life insurance (409) (383) (345)
Changes in assets and liabilities:      
Accounts receivable (12,290) (18,206) (12,608)
Unbilled revenue 1,468 14,520 (22,675)
Fuel, materials and supplies inventory (9,361) 35,673 (7,202)
Prepayments 249 1,294 (2,016)
Accounts payable (22,874) (4,498) 8,907
Accounts and notes payable, affiliate (122) 600 (18,598)
Customer deposits 11,167 12,693 12,313
Postretirement benefit obligations 5,947 (57,531) 647
Regulatory assets and liabilities, net (31,043) (43,131) (88,333)
Other deferred accounts (19,989) (2,399) (10,009)
Taxes accrued 4,503 926 (7,561)
Interest accrued (5,431) (5,609) 1,594
Energy risk management assets and liabilities, net 38 4,646 7,885
Other operating (1,672) 109 (1,933)
Net cash provided by operating activities 244,100 251,758 172,485
Investing activities      
Additions to property, plant, and equipment (238,943) (184,615) (150,937)
Allowance for other funds used during construction 6,711 4,947 12,413
Property plant and equipment grants 16,647 2,788 0
Equity investment in investees 0 (1,460) (200)
Repayment of company-owned life insurance loan 0 0 (14,355)
Transfer of cash from restricted accounts 21,607 5,220 15,404
Purchase of restricted investments (11,966) 0 0
Sale of restricted investments 1,348 0 0
Other investing 1,039 886 1,277
Net cash provided by (used in) investing activities (203,557) (172,234) (136,398)
Financing activities      
Draws on credit facility 0 60,000 0
Payments on credit facility 0 (60,000) 0
Issuance of long-term debt 50,000 100,000 247,245
Retirement of long-term debt (74,368) (12,269) (85,704)
Repurchase of long-term debt 0 (132,000) 0
Settlement of treasury rate lock 0 (18,636) 5,675
Distribution to parent (58,000) (130,000) (150,000)
Other financing (2,265) (4,073) (6,504)
Net cash (used in) provided by financing activities (84,633) (196,978) 10,712
Net (decrease) increase in cash and cash equivalents (44,090) (117,454) 46,799
Cash and cash equivalents at beginning of period 67,458 184,912 138,113
Cash and cash equivalents at end of period 23,368 67,458 184,912
Supplementary cash flow information      
Interest paid (net of amount capitalized) 80,729 85,607 79,044
Interest paid on treasury rate lock settlement 0 8,128 0
Income taxes paid (refunded), net (711) 2,233 (5,425)
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment 15,547 21,007 5,697
Non-cash additions to property, plant, and equipment $ 21,559 $ 7,824 $ 304,134