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Common Stock (Tables)
 12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Non-Vested Stock Activity
A summary of non-vested stock activity during 2016 is presented in the following table:
 
PREDECESSOR
 
 
SHARES

 
WEIGHTED-AVERAGE
GRANT-DATE
FAIR VALUE

Non-vested at Jan. 1, 2016
269,988

 
$
48.11

Vested
(217,588
)
 
$
46.53

Forfeited
(52,400
)
 
$
54.64

Non-vested at Apr. 12, 2016
—

 
$
—
Fair Value Assumptions of Non-Vested Stock
The fair value of shares of non-vested stock granted during 2015 and 2014 under the LTIP was estimated on the date of grant and the expense was calculated using the Monte Carlo simulation model with the assumptions listed in the following table:
 
 
PREDECESSOR
 
 
 
FOR THE
YEAR ENDED
DEC. 31, 2015

 
FOR THE
YEAR ENDED
DEC. 31, 2014

Expected term (in years) (1)
 
3.0

 
3.0

Volatility of Cleco stock (2)
 
15.8
%
 
17.3
%
Correlation between Cleco stock volatility and peer group
 
63.1
%
 
66.5
%
Expected dividend yield
 
2.9
%
 
3.0
%
Weighted average fair value (Monte Carlo model)
 
$
45.60

 
$
54.58

(1) The expected term was based on the service period of the award.
(2) The volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term.
Stock Based Compensation
Cleco and Cleco Power reported pretax compensation expense for their share-based compensation plans as shown in the following tables:
Cleco
 
 
 
 
 
 
 
 
SUCCESSOR
 
PREDECESSOR
(THOUSANDS)
APR. 13, 2016 -
DEC. 31, 2016

 
JAN. 1, 2016 -
APR. 12, 2016

 
FOR THE
YEAR ENDED
DEC. 31, 2015

 
FOR THE
YEAR ENDED
DEC. 31, 2014

Equity classification
 
 
 
 
 
 
 
Non-vested stock (1)
$
—

 
$
3,241

 
$
6,110

 
$
6,308

Tax benefit
$
—

 
$
1,247

 
$
2,351

 
$
2,427

(1) For each of the years ended December 31, 2015, and 2014, compensation expense included in Cleco’s Consolidated Statements of Income related to non-forfeitable dividends paid on non-vested stock that was not expected to vest was $0.1 million. For the predecessor period January 1, 2016, through April 12, 2016, compensation expense included in Cleco’s Consolidated Statements of Income related to non-forfeitable dividends paid on non-vested stock that was not expected to vest was less than $0.1 million.
Cleco Power [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Based Compensation
Cleco Power
 
 
 
 
 
 
 
 
FOR THE YEAR ENDED DEC. 31,
 
(THOUSANDS)
2016

 
2015

 
2014

Equity classification
 
 
 
 
 
Non-vested stock
$
997

 
$
2,000

 
$
2,004

Tax benefit
$
384

 
$
770

 
$
771