Disclosures about Segments

6 Months Ended

Jun. 30, 2017

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 CEO 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 are 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 JUNE 30,
	SUCCESSOR
2017 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	289,855		$	(2,420	)	$	—		$	287,435
Other operations	20,950			515			—			21,465
Electric customer credits	(239		)	—			—			(239		)
Affiliate revenue	221			13,631			(13,852		)	—
Operating revenue, net	$	310,787		$	11,726		$	(13,852	)	$	308,661
Depreciation and amortization	$	39,473		$	2,079		$	—		$	41,552
Interest charges	$	17,411		$	13,285		$	(75	)	$	30,621
Interest income	$	328		$	127		$	(74	)	$	381
Federal and state income tax expense (benefit)	$	23,063		$	(6,843	)	$	—		$	16,220
Net income (loss)	$	35,733		$	(10,289	)	$	—		$	25,444

	SUCCESSOR APR. 13, 2016 - JUNE 30, 2016												PREDECESSOR APR. 1, 2016 - APR. 12, 2016
2016 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED			CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	232,158		$	(2,231	)	$	—		$	229,927		$	30,997		$	—		$	—		$	30,997
Other operations	13,685			448			—			14,133			1,879			70			—			1,949
Electric customer credits	(558		)	—			—			(558		)	(43		)	—			—			(43		)
Affiliate revenue	194			10,763			(10,957		)	—			31			2,000			(2,031		)	—
Operating revenue, net	$	245,479		$	8,980		$	(10,957	)	$	243,502		$	32,864		$	2,070		$	(2,031	)	$	32,903
Depreciation and amortization	$	31,145		$	3,016		$	(1	)	$	34,160		$	5,095		$	42		$	—		$	5,137
Merger transaction and commitment costs	$	151,501		$	19,802		$	—		$	171,303		$	—		$	33,390		$	—		$	33,390
Interest charges	$	16,759		$	9,721		$	(15	)	$	26,465		$	2,554		$	17		$	(2	)	$	2,569
Interest income	$	117		$	95		$	(15	)	$	197		$	29		$	14		$	(2	)	$	41
Federal and state income tax (benefit) expense	$	(39,456	)	$	(12,746	)	$	—		$	(52,202	)	$	430		$	(9,099	)	$	—		$	(8,669	)
Net (loss) income	$	(61,898	)	$	(20,016	)	$	—		$	(81,914	)	$	669		$	(23,997	)	$	—		$	(23,328	)

SEGMENT INFORMATION FOR THE SIX MONTHS ENDED JUNE 30,
	SUCCESSOR
2017 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	527,408		$	(5,917	)	$	—		$	521,491
Other operations	37,315			1,030			—			38,345
Electric customer credits	(674		)	—			—			(674		)
Affiliate revenue	440			28,365			(28,805		)	—
Operating revenue, net	$	564,489		$	23,478		$	(28,805	)	$	559,162
Depreciation and amortization	$	78,230		$	4,172		$	—		$	82,402
Merger transaction and commitment costs	$	—		$	2		$	—		$	2
Interest charges	$	35,515		$	26,966		$	(142	)	$	62,339
Interest income	$	594		$	240		$	(141	)	$	693
Federal and state income tax expense (benefit)	$	32,918		$	(13,591	)	$	—		$	19,327
Net income (loss)	$	53,587		$	(21,851	)	$	—		$	31,736
Additions to property, plant, and equipment	$	127,297		$	1,396		$	—		$	128,693
Equity investment in investees (1)	$	18,172		$	—		$	—		$	18,172
Goodwill (1)	$	1,490,797		$	—		$	—		$	1,490,797
Total segment assets (1)	$	5,823,640		$	601,977		$	(14,351	)	$	6,411,266
(1) Balances as of June 30, 2017

	SUCCESSOR APR. 13, 2016 -JUNE 30, 2016												PREDECESSOR JAN. 1, 2016 - APR. 12, 2016
2016 (THOUSANDS)	CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED			CLECO POWER			OTHER			ELIMINATIONS			CONSOLIDATED
Revenue
Electric operations	$	232,158		$	(2,231	)	$	—		$	229,927		$	281,154		$	—		$	—		$	281,154
Other operations	13,685			448			—			14,133			18,493			587			—			19,080
Electric customer credits	(558		)	—			—			(558		)	(364		)	—			—			(364		)
Affiliate revenue	194			10,763			(10,957		)	—			263			15,024			(15,287		)	—
Operating revenue, net	$	245,479		$	8,980		$	(10,957	)	$	243,502		$	299,546		$	15,611		$	(15,287	)	$	299,870
Depreciation and amortization	$	31,145		$	3,016		$	(1	)	$	34,160		$	43,698		$	377		$	1		$	44,076
Merger transaction and commitment costs	$	151,501		$	19,802		$	—		$	171,303		$	—		$	34,928		$	(16	)	$	34,912
Interest charges	$	16,759		$	9,721		$	(15	)	$	26,465		$	21,840		$	295		$	(12	)	$	22,123
Interest income	$	117		$	95		$	(15	)	$	197		$	208		$	69		$	(12	)	$	265
Federal and state income tax (benefit) expense	$	(39,456	)	$	(12,746	)	$	—		$	(52,202	)	$	12,993		$	(9,525	)	$	—		$	3,468
Net (loss) income	$	(61,898	)	$	(20,016	)	$	—		$	(81,914	)	$	21,548		$	(25,508	)	$	—		$	(3,960	)
Additions to property, plant, and equipment	$	43,583		$	40		$	—		$	43,623		$	42,353		$	39		$	—		$	42,392
Equity investment in investees (1)	$	18,672		$	—		$	—		$	18,672
Goodwill (1)	$	1,490,797		$	—		$	—		$	1,490,797
Total segment assets (1)	$	5,758,245		$	614,959		$	(30,060	)	$	6,343,144
(1) Balances as of December 31, 2016