Disclosures about Segments

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Disclosures about Segments

Note 9 — Disclosures about Segments

Cleco’s reportable segment is based on its method of internal reporting, which disaggregates business units by its first-tier subsidiary.

Cleco Power, the 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 and Cleco Power’s Boards of Managers. The reportable segment prepares budgets that are presented to and approved by Cleco and Cleco Power’s Boards of Managers. The column shown as Other in the chart below includes the holding company, a shared services subsidiary, two transmission interconnection facility subsidiaries, and an investment subsidiary.

The financial results of Cleco’s segment is presented on an accrual basis. Management evaluates the performance of its segment and allocates resources to it 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 joint and common administrative support services provided by Support Group.

SEGMENT INFORMATION FOR THE THREE MONTHS ENDED SEPT. 30,
	SUCCESSOR
2016 (THOUSANDS)	CLECO POWER		OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	326,281	$	(2,574	)	$	—		$	323,707
Other operations	18,460		517			(1		)	18,976
Electric customer credits	177		—			—			177
Affiliate revenue	213		13,060			(13,273		)	—
Operating revenue, net	$	345,131	$	11,003		$	(13,274	)	$	342,860
Depreciation and amortization	$	40,353	$	2,182		$	—		$	42,535
Merger transaction and commitment costs	$	—	$	1,869		$	—		$	1,869
Interest charges	$	19,177	$	12,709		$	(28	)	$	31,858
Interest income	$	264	$	82		$	(28	)	$	318
Federal and state income tax expense (benefit)	$	29,427	$	(5,728	)	$	1		$	23,700
Net income (loss)	$	52,572	$	(12,952	)	$	1		$	39,621

	PREDECESSOR
2015 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	325,994		$	—		$	—		$	325,994
Other operations	19,418			519			—			19,937
Electric customer credits	(463		)	—			—			(463		)
Affiliate revenue	240			15,036			(15,276		)	—
Operating revenue, net	$	345,189		$	15,555		$	(15,276	)	$	345,468
Depreciation and amortization	$	38,376		$	744		$	—		$	39,120
Merger transaction costs	$	—		$	831		$	—		$	831
Interest charges	$	18,309		$	195		$	89		$	18,593
Interest income (expense)	$	303		$	(47	)	$	90		$	346
Federal and state income tax expense	$	27,638		$	123		$	—		$	27,761
Net income (loss)	$	58,661		$	(3,998	)	$	—		$	54,663

SEGMENT INFORMATION FOR THE NINE MONTHS ENDED SEPT. 30,
	SUCCESSOR APR. 13, 2016 - SEPT. 30, 2016												PREDECESSOR JAN. 1, 2016 - APR. 12, 2016
2016 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED			CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	558,439		$	(4,805	)	$	—		$	553,634		$	281,154		$	—		$	—		$	281,154
Other operations	32,145			965			—			33,110			18,493			587			—			19,080
Electric customer credits	(381		)	—			—			(381		)	(364		)	—			—			(364		)
Affiliate revenue	406			23,823			(24,229		)	—			263			15,024			(15,287		)	—
Operating revenue, net	$	590,609		$	19,983		$	(24,229	)	$	586,363		$	299,546		$	15,611		$	(15,287	)	$	299,870
Depreciation and amortization	$	71,498		$	5,198		$	(1	)	$	76,695		$	43,698		$	377		$	1		$	44,076
Merger transaction and commitment costs	$	151,501		$	21,671		$	—		$	173,172		$	—		$	34,928		$	(16	)	$	34,912
Interest charges	$	35,937		$	22,430		$	(44	)	$	58,323		$	21,840		$	295		$	(12	)	$	22,123
Interest income	$	382		$	177		$	(44	)	$	515		$	208		$	69		$	(12	)	$	265
Federal and state income tax (benefit) expense	$	(10,028	)	$	(18,474	)	$	—		$	(28,502	)	$	12,993		$	(9,525	)	$	—		$	3,468
Net (loss) income	$	(9,326	)	$	(32,968	)	$	—		$	(42,294	)	$	21,548		$	(25,508	)	$	—		$	(3,960	)
Additions to property, plant, and equipment	$	102,284		$	393		$	—		$	102,677		$	42,353		$	39		$	—		$	42,392
Equity investment in investees (1)	$	19,272		$	—		$	—		$	19,272
Goodwill (1)	$	1,491,519		$	—		$	—		$	1,491,519
Total segment assets (1)	$	4,279,856		$	1,930,739		$	213,917		$	6,424,512
(1) Balances as of September 30, 2016

	PREDECESSOR FOR THE NINE MONTHS ENDED SEPT. 30, 2015
2015 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	880,169		$	—		$	—		$	880,169
Other operations	51,913			1,559			—			53,472
Electric customer credits	(3,642		)	—			—			(3,642		)
Affiliate revenue	904			42,790			(43,694		)	—
Operating revenue, net	$	929,344		$	44,349		$	(43,694	)	$	929,999
Depreciation and amortization	$	111,485		$	1,381		$	—		$	112,866
Merger transaction costs	$	—		$	2,561		$	—		$	2,561
Interest charges	$	57,612		$	720		$	292		$	58,624
Interest income (expense)	$	607		$	(166	)	$	293		$	734
Federal and state income tax expense (benefit)	$	65,906		$	(458	)	$	—		$	65,448
Net income (loss)	$	119,080		$	(7,261	)	$	—		$	111,819
Additions to property, plant, and equipment	$	116,360		$	318		$	—		$	116,678
Equity investment in investees (1)	$	16,822		$	—		$	—		$	16,822
Total segment assets (1)	$	4,233,731		$	21,800		$	68,547		$	4,324,078
(1) Balances as of December 31, 2015