Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Property, Plant, and Equipment

Cleco’s property, plant, and equipment consisted of:

(THOUSANDS)	AT SEPT. 30, 2015			AT DEC. 31, 2014
Regulated utility plants	$	4,601,293		$	4,495,490
Other	15,515			13,470
Total property, plant, and equipment	4,616,808			4,508,960
Accumulated depreciation	(1,512,711		)	(1,442,960		)
Net property, plant, and equipment	$	3,104,097		$	3,066,000

Restricted Cash and Cash Equivalents

Cleco’s restricted cash and cash equivalents consisted of:

(THOUSANDS)	AT SEPT. 30, 2015		AT DEC. 31, 2014
Current:
Cleco Katrina/Rita’s storm recovery bonds	$	3,702	$	8,986
Non-current:
Diversified Lands’ mitigation escrow	21		21
Cleco Power’s future storm restoration costs	15,857		14,915
Cleco Power’s building renovation escrow	—		194
Total non-current	15,878		15,130
Total restricted cash and cash equivalents	$	19,580	$	24,116

Earnings per Average Common Share

The following tables show the calculation of basic and diluted earnings per share:

						FOR THE THREE MONTHS ENDED SEPT. 30,
				2015					2014
(THOUSANDS, EXCEPT SHARES AND PER SHARE AMOUNTS)	INCOME		SHARES	PER SHARE AMOUNT		INCOME		SHARES	PER SHARE AMOUNT
Basic net income applicable to common stock	$	54,663	60,481,584	$	0.90	$	70,835	60,372,569	$	1.17
Effect of dilutive securities
Add: restricted stock (LTICP)			311,807					317,027
Diluted net income applicable to common stock	$	54,663	60,793,391	$	0.90	$	70,835	60,689,596	$	1.17

						FOR THE NINE MONTHS ENDED SEPT. 30,
				2015					2014
(THOUSANDS, EXCEPT SHARES AND PER SHARE AMOUNTS)	INCOME		SHARES	PER SHARE AMOUNT		INCOME		SHARES	PER SHARE AMOUNT
Basic net income applicable to common stock	$	111,819	60,474,228	$	1.85	$	133,392	60,410,122	$	2.21
Effect of dilutive securities
Add: restricted stock (LTICP)			285,711					301,421
Diluted net income applicable to common stock	$	111,819	60,759,939	$	1.84	$	133,392	60,711,543	$	2.20

Stock-Based Compensation

Cleco and Cleco Power reported pretax compensation expense for their share-based compensation plans as shown in the following table:

	FOR THE THREE MONTHS ENDED SEPT. 30,								FOR THE NINE MONTHS ENDED SEPT. 30,
	2015		2014		2015		2014		2015		2014		2015		2014
(THOUSANDS)	CLECO CORPORATION				CLECO POWER				CLECO CORPORATION				CLECO POWER
Equity classification
Non-vested stock	$	1,419	$	1,344	$	519	$	528	$	4,644	$	4,798	$	1,465	$	1,461
Tax benefit	$	546	$	517	$	200	$	203	$	1,787	$	1,846	$	564	$	562