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Pension Plan and Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Pension Plans
The employee pension plan and other benefits obligation plan assets and funded status at December 31, 2015, and 2014 are presented in the following table:
 
PENSION BENEFITS
 
 
OTHER BENEFITS
 
(THOUSANDS)
2015

 
2014

 
2015

 
2014

Change in benefit obligation
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
498,372

 
$
392,488

 
$
44,652

 
$
43,840

Service cost
10,419

 
8,050

 
1,635

 
1,542

Interest cost
20,795

 
19,851

 
1,607

 
1,809

Plan participants’ contributions
—

 
—

 
903

 
872

Actuarial (gain) loss
(30,483
)
 
95,576

 
(1,039
)
 
1,228

Expenses paid
(1,995
)
 
(1,671
)
 
—

 
—

Medicare D
—

 
—

 
48

 
132

Other adjustments
—

 
—

 
—

 
(551
)
Benefits paid
(17,046
)
 
(15,922
)
 
(4,736
)
 
(4,220
)
Benefit obligation at end of year
480,062

 
498,372

 
43,070

 
44,652

Change in plan assets
 

 
 

 
 

 
 

Fair value of plan assets at beginning of year
412,803

 
384,555

 
—

 
—

Actual return on plan assets
(10,230
)
 
45,841

 
—

 
—

Employer contributions
—

 
—

 
—

 
—

Expenses paid
(1,995
)
 
(1,671
)
 
—

 
—

Benefits paid
(17,046
)
 
(15,922
)
 
—

 
—

Fair value of plan assets at end of year
383,532

 
412,803

 
—

 
—

Unfunded status
$
(96,530
)
 
$
(85,569
)
 
$
(43,070
)
 
$
(44,652
)
Accumulated Benefit Obligation
The employee pension plan accumulated benefit obligation at December 31, 2015, and 2014 is presented in the following table:
 
PENSION BENEFITS
 
(THOUSANDS)
2015

 
2014

Accumulated benefit obligation
$
440,876

 
$
452,991
Amounts Recognized in Other Comprehensive Income
The following table presents the net actuarial gains/losses, transition obligations/assets, and prior period service costs included in other comprehensive income as a result of being included as a component of net periodic benefit costs for the employee pension plan and other benefits plan at December 31, 2015, and 2014:
 
PENSION BENEFITS
 
 
OTHER BENEFITS
 
(THOUSANDS)
2015

 
2014

 
2015

 
2014

Net actuarial loss (gain) occurring during year
$
3,128

 
$
74,242

 
$
(1,039
)
 
$
1,228

Net actuarial loss amortized during year
$
13,828

 
$
6,743

 
$
866

 
$
670

Transition obligation amortized during year
$
—

 
$
—

 
$
—

 
$
16

Prior service (credit) cost amortized during year
$
(71
)
 
$
(71
)
 
$
119

 
$
119
Amounts Recognized in Accumulated Other Comprehensive Income
The following table presents net gains/losses and prior period service costs/credits in accumulated other comprehensive income for other benefits and in regulatory assets for pension that have not been recognized as components of net periodic benefit costs and the amounts expected to be recognized in 2016 for the employee pension plan and other benefits plans for December 31, 2016, 2015, and 2014:
 
 

 
PENSION BENEFITS
 
 
 

 
OTHER BENEFITS
 
(THOUSANDS)
2016

 
2015

 
2014

 
2016

 
2015

 
2014

Net actuarial loss
$
8,935

 
$
150,620

 
$
161,320

 
$
666

 
$
8,805

 
$
10,710

Prior service (credit) cost
$
(71
)
 
$
(345
)
 
$
(417
)
 
$
119


$
363

 
$
482
Components of Net Periodic Pension and Other Benefit Costs
The components of net periodic pension and other benefits costs for 2015, 2014, and 2013 are as follows:
 
 

 
PENSION BENEFITS
 
 
 

 
OTHER BENEFITS
 
(THOUSANDS)
2015

 
2014

 
2013

 
2015

 
2014

 
2013

Components of periodic benefit costs:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
10,419

 
$
8,050

 
$
9,889

 
$
1,635

 
$
1,542

 
$
1,656

Interest cost
20,795

 
19,851

 
17,940

 
1,607

 
1,809

 
1,568

Expected return on plan assets
(23,382
)
 
(24,507
)
 
(23,446
)
 
—

 
—

 
—

Amortizations:
 

 
 

 
 

 
 

 
 

 
 

Transition obligation
—

 
—

 
—

 
—

 
16

 
20

Prior period service (credit) cost
(71
)
 
(71
)
 
(71
)
 
119

 
119

 
—

Net loss
13,828

 
6,743

 
13,218

 
866

 
670

 
1,131

Net periodic benefit cost
$
21,589

 
$
10,066

 
$
17,530

 
$
4,227

 
$
4,156

 
$
4,375
Weighted-Average Assumptions Used to Determine Benefit Obligation and Net Periodic Costs
The assumptions used to determine the benefit obligation and the periodic costs are as follows:
 
PENSION BENEFITS
 
 
OTHER BENEFITS
 
 
2015

 
2014

 
2015

 
2014

Weighted-average assumptions used to determine the benefit obligation as of Dec. 31:
 
 
 
 
 
 
 
Discount rate
4.62
%
 
4.21
%
 
4.08
%
 
3.76
%
Rate of compensation increase
3.08
%
 
3.17
%
 
N/A

 
N/A

 
 
PENSION BENEFITS
 
 
 

OTHER BENEFITS
 
 
2015

2014

2013

 
2015

2014

2013

Weighted-average assumptions used to determine the net benefit cost for the year ended Dec. 31:
 

 

 

 
 

 

 

Discount rate
4.21
%
5.14
%
4.19
%
 
3.76
%
4.46
%
3.54
%
Expected return on plan assets
6.15
%
6.76
%
6.78
%
 
N/A

N/A

N/A

Rate of compensation increase
3.08
%
3.17
%
3.26
%
 
N/A

N/A

N/A
Fair Value Allocation of Pension Plan Assets
The following tables disclose the pension plan’s fair value of financial assets measured on a recurring basis:
(THOUSANDS)
 
AT DEC. 31, 2015

 
QUOTED PRICES
IN ACTIVE
MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)

 
SIGNIFICANT
OTHER
OBSERVABLE
INPUTS
(LEVEL 2)

 
SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)

Asset Description
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
4,568

 
$
—

 
$
4,568

 
$
—

Common stock
 
13,816

 
13,816

 
—

 
—

Obligations of U.S. Government, U.S. Government Agencies, and state and local governments
 
48,792

 
—

 
48,792

 
—

Mutual funds
 
 
 


 

 

Domestic
 
47,801

 
47,801

 
—

 
—

International
 
22,853

 
22,853

 
—

 
—

Real estate funds
 
17,890

 
—

 
—

 
17,890

Corporate debt
 
182,408

 
—

 
182,408

 
—

Total
 
$
338,128

 
$
84,470

 
$
235,768

 
$
17,890

 
 
 
 
 
 
 
 
 
 
Investments measured at net asset value
42,362

 
 
 
 
 
 
 
Interest accrual
3,042

 
 
 
 
 
 
 
Total net assets
$
383,532

 
 
 
 
 
 

(THOUSANDS)
 
AT DEC. 31, 2014

 
QUOTED PRICES
IN ACTIVE
MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)

 
SIGNIFICANT
OTHER
OBSERVABLE
INPUTS
(LEVEL 2)

 
SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)

Asset Description
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
5,180

 
$
—

 
$
5,180

 
$
—

Common stock
 
13,967

 
13,967

 
—

 
—

Preferred stock
 
968

 
968

 
—

 
—

Obligations of U.S. Government, U.S. Government Agencies, and state and local governments
 
49,942

 
—

 
49,942

 
—

Mutual funds
 
 
 
 
 
 
 
 
Domestic
 
55,005

 
55,005

 
—

 
—

International
 
25,096

 
25,096

 
—

 
—

Real estate funds
 
18,792

 
—

 
—

 
18,792

Corporate debt
 
202,253

 
—

 
202,253

 
—

Total
 
$
371,203

 
$
95,036

 
$
257,375

 
$
18,792

 
 
 
 
 
 
 
 
 
 
Investments measured at net asset value(1)
38,770

 
 
 
 
 
 
 
Interest accrual
2,830

 
 
 
 
 
 
 
Total net assets
$
412,803


 
 
 
 
 
The following chart shows the dynamic asset allocation based on the funded ratio at December 31, 2015:
 
PERCENT OF TOTAL PLAN ASSETS*
 
 
MINIMUM

 
TARGET

 
MAXIMUM

Return-seeking
 

 
 

 
 

Domestic equity
 
 
16
%
 
 
International equity
 
 
16
%
 
 
Real estate
 
 
7
%
 
 
Hedge fund of funds
 
 
1
%
 
 
Total return-seeking
35
%
 
40
%
 
45
%
Liability hedging
 
 
 
 
 
Fixed income- long government/credit
 
 
20
%
 
 
Fixed income - long credit
 
 
40
%
 
 
Total liability hedging
55
%
 
60
%
 
65
%
*Minimums and maximums within subcategories not intended to equal total for category.
Pension Plan Unobservable Input Reconciliation
The following is a reconciliation of the beginning and ending balances of the pension plan’s real estate funds measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2015, and 2014:
(THOUSANDS)
 
Balance, Dec. 31, 2013
$
17,928

Unrealized gains
570

Purchases
294

Balance, Dec. 31, 2014
$
18,792

Realized gains
9

Unrealized gains
(148
)
Purchases
679

Sales
(1,442
)
Balance, Dec. 31, 2015
$
17,890
Assumed Health Care Cost Trend Rates
A one-percentage point change in assumed health care cost trend rates would have the following effects on other benefits:
 
ONE-PERCENTAGE POINT
 
(THOUSANDS)
INCREASE

 
DECREASE

Effect on total of service and interest cost components
$
19

 
$
(22
)
Effect on postretirement benefit obligation
$
258

 
$
(288
)
Projected Benefit Payments and Projected Receipts
The projected benefit payments for the employee pension plan and other benefits obligation plan for each year through 2020 and the next five years thereafter are listed in the following table:
(THOUSANDS)
PENSION BENEFITS

 
OTHER BENEFITS, GROSS

2016
$
18,509

 
$
3,686

2017
$
19,651

 
$
3,714

2018
$
20,787

 
$
3,779

2019
$
22,048

 
$
3,866

2020
$
23,424

 
$
3,897

Next five years
$
136,165

 
$
18,598
401(k) Plan Expense
Cleco’s 401(k) Plan expense for the years ended December 31, 2015, 2014, and 2013 is as follows:
 
FOR THE YEAR ENDED DEC. 31,
 
(THOUSANDS)
2015

 
2014

 
2013

401(k) Plan expense
$
5,029

 
$
4,730

 
$
4,422
United States Postretirement Benefit Plan of US Entity [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
The current and non-current portions of the other benefits liability for Cleco and Cleco Power at December 31, 2015, and 2014 are as follows:
 
OTHER BENEFITS LIABILITY
 
(THOUSANDS)
2015

 
2014

Cleco
 
 
 
Current
$
3,613

 
$
3,470

Non-current
$
39,457

 
$
41,182

Cleco Power
 
 
 
Current
$
3,140

 
$
3,206

Non-current
$
34,300

 
$
31,250
SERP Benefits [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Pension Plans
SERP’s funded status at December 31, 2015, and 2014 is presented in the following table:
 
SERP BENEFITS
 
(THOUSANDS)
2015

 
2014

Change in benefit obligation
 
 
 
Benefit obligation at beginning of year
$
73,902

 
$
57,865

Service cost
2,705

 
2,278

Interest cost
3,056

 
3,028

Actuarial (gain) loss
(4,488
)
 
13,436

Benefits paid
(2,860
)
 
(2,705
)
Benefit obligation at end of year
$
72,315

 
$
73,902
Accumulated Benefit Obligation
SERP’s accumulated benefit obligation at December 31, 2015, and 2014 is presented in the following table:
 
SERP BENEFITS
 
(THOUSANDS)
2015

 
2014

Accumulated benefit obligation
$
65,840

 
$
67,126
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
The current and non-current portions of the SERP liability for Cleco and Cleco Power at December 31, 2015, and 2014 are as follows:
 
SERP LIABILITY
 
(THOUSANDS)
2015

 
2014

Cleco
 
 
 
Current
$
3,238

 
$
3,031

Non-current
$
69,049

 
$
70,871

Cleco Power
 
 
 
Current
$
1,000

 
$
813

Non-current
$
21,321

 
$
19,006
Amounts Recognized in Other Comprehensive Income
The following table presents net actuarial gains/losses and prior period service costs included in other comprehensive income as a result of being amortized as a component of net periodic benefit costs for the SERP at December 31, 2015, and 2014:
 
SERP BENEFITS
 
(THOUSANDS)
2015

 
2014

Net actuarial (gain) loss occurring during year
$
(4,487
)
 
$
13,436

Net actuarial loss amortized during year
$
2,973

 
$
1,876

Prior service cost amortized during year
$
54

 
$
54
Amounts Recognized in Accumulated Other Comprehensive Income
The following table presents net gains/losses and prior period service costs/credit in accumulated other comprehensive income that have not been recognized as components of net periodic benefit costs and the amounts expected to be recognized in 2016 for SERP for December 31, 2016, 2015, and 2014:
 
 
 
SERP BENEFITS
 
(THOUSANDS)
2016

 
2015

 
2014

Net actuarial loss
$
2,033

 
$
23,763

 
$
31,224

Prior service cost
$
59

 
$
120

 
$
173
Components of Net Periodic Pension and Other Benefit Costs
The components of the net SERP costs for 2015, 2014, and 2013 are as follows:
 
 
 
SERP BENEFITS
 
(THOUSANDS)
2015

 
2014

 
2013

Components of periodic benefit costs:
 
 
 
 
 
Service cost
$
2,705

 
$
2,278

 
$
2,055

Interest cost
3,056

 
3,028

 
2,578

Amortizations:
 

 
 

 
 

Prior period service cost
54

 
54

 
54

Net loss
2,973

 
1,875

 
2,305

Net periodic benefit cost
$
8,788

 
$
7,235

 
$
6,992
Weighted-Average Assumptions Used to Determine Benefit Obligation and Net Periodic Costs
The assumptions used to determine the benefit obligation and the periodic costs are as follows:
 
SERP
 
 
2015

 
2014

Weighted-average assumptions used to determine the benefit obligation as of Dec. 31:
 
 
 
Discount rate
4.60
%
 
4.20
%
Rate of compensation increase
5.00
%
 
5.00
%
 
 
 
 
SERP
 
 
2015

 
2014

 
2013

Weighted-average assumptions used to determine the net benefit cost for the year ended Dec. 31:
 
 
 
 
 
Discount rate
4.20
%
 
5.09
%
 
4.17
%
Rate of compensation increase
5.00
%
 
5.00
%
 
5.00
%
Projected Benefit Payments and Projected Receipts
The projected benefit payments for the SERP for each year through 2020 and the next five years thereafter are shown in the following table:
(THOUSANDS)
2016

 
2017

 
2018

 
2019

 
2020

 
NEXT FIVE
YEARS

SERP
$
3,311

 
$
3,366

 
$
3,562

 
$
3,734

 
$
4,061

 
$
23,519