Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Property, Plant, and Equipment

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

(THOUSANDS)	AT MAR. 31, 2016			AT DEC. 31, 2015
Regulated utility plants	$	4,675,788		$	4,645,698
Other	15,657			15,514
Total property, plant, and equipment	4,691,445			4,661,212
Accumulated depreciation	(1,562,348		)	(1,536,158		)
Net property, plant, and equipment	$	3,129,097		$	3,125,054

Restricted Cash and Cash Equivalents

Cleco’s restricted cash and cash equivalents consisted of:

(THOUSANDS)	AT MAR. 31, 2016		AT DEC. 31, 2015
Current:
Cleco Katrina/Rita’s storm recovery bonds	$	3,580	$	9,263
Cleco Power’s sale of property	1,299		—
Total current	4,879		9,263
Non-current:
Diversified Lands’ mitigation escrow	21		21
Cleco Power’s future storm restoration costs	16,469		16,174
Total non-current	16,490		16,195
Total restricted cash and cash equivalents	$	21,369	$	25,458

Earnings per Average Common Share

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

						FOR THE THREE MONTHS ENDED MAR. 31,
				2016					2015
(THOUSANDS, EXCEPT SHARES AND PER SHARE AMOUNTS)	INCOME		SHARES	PER SHARE AMOUNT		INCOME		SHARES	PER SHARE AMOUNT
Basic net income applicable to common stock	$	19,368	60,528,489	$	0.32	$	26,922	60,463,693	$	0.45
Effect of dilutive securities
Add: restricted stock (LTIP)			103,021					236,392
Diluted net income applicable to common stock	$	19,368	60,631,510	$	0.32	$	26,922	60,700,085	$	0.44

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 MAR. 31,
	2016		2015		2016		2015
(THOUSANDS)	CLECO				CLECO POWER
Equity classification
Non-vested stock	$	969	$	1,785	$	352	$	444
Tax benefit	$	373	$	687	$	135	$	171