Disclosures about Segments

6 Months Ended

Jun. 30, 2013

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 its first-tier subsidiary. Cleco’s reportable segments are Cleco Power and Midstream. The holding company, a shared services subsidiary, two transmission interconnection facility subsidiaries, and an investment subsidiary are shown as Other in the following tables.

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 2013 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 the power purchase agreement between Cleco Power and Evangeline that began in 2012 and joint and common administrative support services provided by Support Group.

SEGMENT INFORMATION FOR THE THREE MONTHS ENDED JUNE 30,
2013 (THOUSANDS)	CLECO POWER			MIDSTREAM			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	252,765		$	—		$	—		$	—		$	252,765
Tolling operations	—			9,307			—			(9,307		)	—
Other operations	11,027			—			504			—			11,531
Electric customer credits	(402		)	—			—			—			(402		)
Affiliate revenue	335			—			15,168			(15,503		)	—
Operating revenue, net	$	263,725		$	9,307		$	15,672		$	(24,810	)	$	263,894
Depreciation	$	32,959		$	1,501		$	280		$	—		$	34,740
Interest charges	$	20,878		$	(411	)	$	281		$	140		$	20,888
Interest income	$	255		$	—		$	(138	)	$	140		$	257
Federal and state income tax expense (benefit)	$	17,965		$	3,979		$	(2,521	)	$	(1	)	$	19,422
Net income	$	34,464		$	6,350		$	1,218		$	—		$	42,032
Additions to long-lived assets	$	44,588		$	497		$	710		$	—		$	45,795
Equity investment in investees	$	14,532		$	—		$	8		$	1		$	14,541
Total segment assets	$	3,871,862		$	212,595		$	146,538		$	(114,859	)	$	4,116,136

2012 (THOUSANDS)	CLECO POWER			MIDSTREAM			OTHER			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
Net income	$	37,284		$	6,534		$	2,868		$	—		$	46,686
Additions to long-lived assets	$	55,785		$	6,025		$	482		$	—		$	62,292
Equity investment in investees (1)	$	14,532		$	—		$	8		$	—		$	14,540
Total segment assets  (1)	$	3,871,729		$	215,342		$	201,678		$	(141,400	)	$	4,147,349
(1) Balances as of December 31, 2012

SEGMENT INFORMATION FOR THE SIX MONTHS ENDED JUNE 30,
2013 (THOUSANDS)	CLECO POWER			MIDSTREAM			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	482,191		$	—		$	—		$	—		$	482,191
Tolling operations	—			14,144			—			(14,144		)	—
Other operations	22,064			1			1,008			1			23,074
Electric customer credits	(424		)	—			—			—			(424		)
Affiliate revenue	670			—			27,093			(27,763		)	—
Operating revenue	$	504,501		$	14,145		$	28,101		$	(41,906	)	$	504,841
Depreciation	$	65,288		$	3,001		$	483		$	1		$	68,773
Interest charges	$	42,227		$	(649	)	$	444		$	322		$	42,344
Interest income	$	453		$	—		$	(318	)	$	322		$	457
Federal and state income tax expense (benefit)	$	32,203		$	3,139		$	(2,839	)	$	—		$	32,503
Net income	$	62,257		$	5,016		$	1,893		$	—		$	69,166
Additions to long-lived assets	$	86,147		$	2,326		$	1,271		$	—		$	89,744
Equity investment in investees	$	14,532		$	—		$	8		$	1		$	14,541
Total segment assets	$	3,871,862		$	212,595		$	146,538		$	(114,859	)	$	4,116,136

2012 (THOUSANDS)	CLECO POWER		MIDSTREAM		OTHER			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
Net income	$	64,089	$	7,624	$	5,004		$	1		$	76,718
Additions to long-lived assets	$	94,762	$	6,012	$	869		$	—		$	101,643
Equity investment in investees (1)	$	14,532	$	—	$	8		$	—		$	14,540
Total segment assets (1)	$	3,871,729	$	215,342	$	201,678		$	(141,400	)	$	4,147,349
(1) Balances as of December 31, 2012