Disclosures about Segments

9 Months Ended

Sep. 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 SEPT. 30,
2013 (THOUSANDS)	CLECO POWER			MIDSTREAM		OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	314,766		$	—	$	—		$	—		$	314,766
Tolling operations	—			12,339		—			(12,339		)	—
Other operations	14,301			1		541			—			14,843
Electric customer credits	(846		)	—		—			—			(846		)
Affiliate revenue	335			—		13,313			(13,648		)	—
Operating revenue, net	$	328,556		$	12,340	$	13,854		$	(25,987	)	$	328,763
Depreciation	$	39,962		$	1,522	$	272		$	—		$	41,756
Interest charges	$	18,656		$	312	$	(110	)	$	156		$	19,014
Interest income	$	331		$	—	$	(156	)	$	157		$	332
Federal and state income tax expense (benefit)	$	33,355		$	4,083	$	(3,048	)	$	(1	)	$	34,389
Net income	$	61,885		$	1,164	$	3,358		$	—		$	66,407
Additions to long-lived assets	$	38,585		$	337	$	358		$	—		$	39,280
Equity investment in investees	$	14,532		$	—	$	8		$	1		$	14,541
Total segment assets	$	3,881,391		$	219,028	$	106,158		$	(79,060	)	$	4,127,517

2012 (THOUSANDS)	CLECO POWER			MIDSTREAM			OTHER			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
Net income	$	57,783		$	3,429		$	2,606		$	—		$	63,818
Additions to long-lived assets	$	65,073		$	799		$	503		$	—		$	66,375
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 NINE MONTHS ENDED SEPT. 30,
2013 (THOUSANDS)	CLECO POWER			MIDSTREAM			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	796,957		$	—		$	—		$	—		$	796,957
Tolling operations	—			26,483			—			(26,483		)	—
Other operations	36,366			2			1,550			(1		)	37,917
Electric customer credits	(1,270		)	—			—			—			(1,270		)
Affiliate revenue	1,005			—			40,406			(41,411		)	—
Operating revenue	$	833,058		$	26,485		$	41,956		$	(67,895	)	$	833,604
Depreciation	$	105,251		$	4,523		$	755		$	—		$	110,529
Interest charges	$	60,882		$	(338	)	$	334		$	480		$	61,358
Interest income	$	784		$	—		$	(474	)	$	479		$	789
Federal and state income tax expense (benefit)	$	65,558		$	7,221		$	(5,887	)	$	—		$	66,892
Net income	$	124,142		$	6,180		$	5,251		$	(1	)	$	135,572
Additions to long-lived assets	$	124,731		$	2,664		$	1,629		$	—		$	129,024
Equity investment in investees	$	14,532		$	—		$	8		$	1		$	14,541
Total segment assets	$	3,881,391		$	219,028		$	106,158		$	(79,060	)	$	4,127,517

2012 (THOUSANDS)	CLECO POWER		MIDSTREAM		OTHER			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
Net income	$	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 (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