Debt (Tables)

12 Months Ended

Dec. 31, 2015

Cleco

Cleco’s total indebtedness as of December 31, 2015, and 2014 was as follows:



	AT DEC. 31,
(THOUSANDS)	2015			2014
Bonds
Cleco Power’s senior notes, 4.95%, due 2015	$	—		$	50,000
Cleco Power’s senior notes, 6.65%, due 2018	250,000			250,000
Cleco Power’s senior notes, 3.68%, due 2025	75,000			—
Cleco Power’s senior notes, 4.33%, due 2027	50,000			50,000
Cleco Power’s senior notes, 6.50%, due 2035	295,000			295,000
Cleco Power’s senior notes, 6.00%, due 2040	250,000			250,000
Cleco Power’s senior notes, 5.12%, due 2041	100,000			100,000
Cleco Power’s Series A GO Zone bonds, 2.00%, due 2038, mandatory tender in 2020	50,000			50,000
Cleco Power’s Series B GO Zone bonds, 4.25%, due 2038	50,000			50,000
Cleco Power’s solid waste disposal facility bonds, 4.70%, due 2036, callable after November 1, 2016	60,000			60,000
Cleco Katrina/Rita’s storm recovery bonds, 4.41%, due 2020	17,929			33,754
Cleco Katrina/Rita’s storm recovery bonds, 5.61%, due 2023	67,600			67,600
Total bonds	1,265,529			1,256,354
Other long-term debt
Cleco Corporation’s credit facility draws	34,000			57,000
Cleco Power’s credit facility draws	—			20,000
Cleco Power’s bank term loan, due 2015	—			35,000
Barge lease obligations, ending 2017	4,425			6,873
Gross amount of long-term debt	1,303,954			1,375,227
Less: long-term debt due within one year	16,814			15,824
Less: lease obligations classified as long-term debt due within one year	2,607			2,448
Unamortized debt discount	(6,885		)	(7,302		)
Unamortized debt issuance costs	(9,945		)	(10,655		)	⁽¹⁾
Total long-term debt, net	$	1,267,703		$	1,338,998

Future Amounts Payable Under Long-Term Debt Agreements

The principal amounts payable under long-term debt agreements for each year through 2020 and thereafter are as follows:



YEAR ENDING DEC. 31,	(THOUSANDS)
Amounts payable under long-term debt agreements
2016	$	16,814
2017	$	17,896
2018	$	303,193
2019	$	20,571
2020	$	11,055
Thereafter	$	930,000

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The principal amounts payable under the capital lease agreements for each year through 2017 are as follows:



YEAR ENDING DEC. 31,	(THOUSANDS)
Amounts payable under capital lease agreements
2016	$	2,607
2017	$	1,818

Cleco Power [Member]

Total Indebtedness

Cleco Power

Cleco Power’s total indebtedness as of December 31, 2015, and 2014 was as follows:



	AT DEC. 31,
(THOUSANDS)	2015			2014
Bonds
Senior notes, 4.95%, due 2015	$	—		$	50,000
Senior notes, 6.65%, due 2018	250,000			250,000
Senior notes, 3.68%, due 2025	75,000			—
Senior notes, 4.33%, due 2027	50,000			50,000
Senior notes, 6.50%, due 2035	295,000			295,000
Senior notes, 6.00%, due 2040	250,000			250,000
Senior notes, 5.12%, due 2041	100,000			100,000
Series A GO Zone bonds, 2.00%, due 2038, mandatory tender in 2020	50,000			50,000
Series B GO Zone bonds, 4.25%, due 2038	50,000			50,000
Solid waste disposal facility bonds, 4.70%, due 2036, callable after November 1, 2016	60,000			60,000
Cleco Katrina/Rita’s storm recovery bonds, 4.41%, due 2020	17,929			33,754
Cleco Katrina/Rita’s storm recovery bonds, 5.61%, due 2023	67,600			67,600
Total bonds	1,265,529			1,256,354
Other long-term debt
Bank term loan, due 2015	—			35,000
Credit facility draws	—			20,000
Barge lease obligations, ending 2017	4,425			6,873
Gross amount of long-term debt	1,269,954			1,318,227
Less: long-term debt due within one year	16,814			15,824
Less: lease obligations classified as long-term debt due within one year	2,607			2,448
Unamortized debt discount	(6,885		)	(7,302		)
Unamortized debt issuance costs	(9,609		)	(10,044		)	⁽¹⁾
Total long-term debt, net	$	1,234,039		$	1,282,609

Future Amounts Payable Under Long-Term Debt Agreements

The principal amounts payable under long-term debt agreements for each year through 2020 and thereafter are as follows:



YEAR ENDING DEC. 31,	(THOUSANDS)
Amounts payable under long-term debt agreements
2016	$	16,814
2017	$	17,896
2018	$	269,193
2019	$	20,571
2020	$	11,055
Thereafter	$	930,000

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The principal amounts payable under the capital lease agreements for each year through 2017 are as follows:



YEAR ENDING DEC. 31,	(THOUSANDS)
Amounts payable under capital lease agreements
2016	$	2,607
2017	$	1,818

The following is a schedule by years of future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of December 31, 2015:



(THOUSANDS)
Years ending December 31,
2016	$	3,735
2017	2,480
Total minimum lease payments	$	6,215
Less: executory costs	1,554
Net minimum lease payments	$	4,661
Less: amount representing interest	236
Present value of net minimum lease payments	$	4,425
Current liabilities	$	2,607
Non-current liabilities	$	1,818