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Disclosures about Segments
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Disclosures about Segments
Note 11 — Disclosures about Segments
Cleco
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. On December 29, 2017, Cleco sold the transmission assets owned by Attala and Perryville, the two subsidiaries that owned and operated the transmission interconnection facilities.
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.
SEGMENT INFORMATION
 
 
 
 
 
 
 
 
SUCCESSOR
FOR THE YEAR ENDED DEC. 31, 2017
(THOUSANDS)
CLECO POWER

 
OTHER

 
ELIMINATIONS

 
TOTAL

Revenue
 
 
 
 
 
 
 
Electric operations
$
1,108,389

 
$
(10,757
)
 
$

 
$
1,097,632

Other operations
77,522

 
2,058

 

 
79,580

Electric customer credits
(1,566
)
 

 

 
(1,566
)
Affiliate revenue
851

 
57,168

 
(58,019
)
 

Operating revenue, net
$
1,185,196

 
$
48,469

 
$
(58,019
)
 
$
1,175,646

Depreciation and amortization
$
157,999

 
$
8,439

 
$
1

 
$
166,439

Merger transaction and commitment costs
$

 
$
287

 
$

 
$
287

Interest charges
$
69,362

 
$
53,725

 
$
(174
)
 
$
122,913

Interest income
$
1,283

 
$
316

 
$
(175
)
 
$
1,424

Federal and state income tax expense (benefit)
$
67,331

 
$
(60,252
)
 
$

 
$
7,079

Net income (loss)
$
150,738

 
$
(12,659
)
 
$
1

 
$
138,080

Additions to property, plant, and equipment
$
235,252

 
$
1,680

 
$

 
$
236,932

Equity investment in investee
$
18,172

 
$

 
$

 
$
18,172

Goodwill
$
1,490,797

 
$

 
$

 
$
1,490,797

Total segment assets
$
5,679,538

 
$
619,943

 
$
(21,099
)
 
$
6,278,382

 
SUCCESSOR
APR. 13, 2016 - DEC. 31, 2016
 
PREDECESSOR
JAN. 1, 2016 - APR. 12, 2016
(THOUSANDS)
CLECO POWER

 
OTHER

 
ELIMINATIONS

 
TOTAL

 
CLECO POWER

 
OTHER

 
ELIMINATIONS

 
TOTAL

Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Electric operations
$
810,075

 
$
(7,482
)
 
$
(1
)
 
$
802,592

 
$
281,154

 
$

 
$

 
$
281,154

Other operations
50,080

 
1,482

 

 
51,562

 
18,493

 
587

 

 
19,080

Electric customer credits
(1,149
)
 

 

 
(1,149
)
 
(364
)
 

 

 
(364
)
Affiliate revenue
621

 
35,602

 
(36,223
)
 

 
263

 
15,024

 
(15,287
)
 

Operating revenue, net
$
859,627

 
$
29,602

 
$
(36,224
)
 
$
853,005

 
$
299,546

 
$
15,611

 
$
(15,287
)
 
$
299,870

Depreciation and amortization
$
102,444

 
$
7,296

 
$
(1
)
 
$
109,739

 
$
43,698

 
$
377

 
$
1

 
$
44,076

Merger transaction and commitment costs
$
151,501

 
$
23,195

 
$

 
$
174,696

 
$

 
$
34,928

 
$
(16
)
 
$
34,912

Interest charges
$
54,606

 
$
35,246

 
$
(86
)
 
$
89,766

 
$
21,840

 
$
295

 
$
(12
)
 
$
22,123

Interest income
$
652

 
$
275

 
$
(87
)
 
$
840

 
$
208

 
$
69

 
$
(12
)
 
$
265

Federal and state income tax expense (benefit)
$
5,376

 
$
(28,198
)
 
$

 
$
(22,822
)
 
$
12,993

 
$
(9,525
)
 
$

 
$
3,468

Net income (loss)
$
17,580

 
$
(41,692
)
 
$
(1
)
 
$
(24,113
)
 
$
21,548

 
$
(25,508
)
 
$

 
$
(3,960
)
Additions to property, plant, and equipment
$
143,790

 
$
654

 
$

 
$
144,444

 
$
42,353

 
$
39

 
$

 
$
42,392

Equity investment in investee
$
18,672

 
$

 
$

 
$
18,672

 
 
 
 
 
 
 
 
Goodwill
$
1,490,797

 
$

 
$

 
$
1,490,797

 
 
 
 
 
 
 
 
Total segment assets
$
5,758,245

 
$
614,959

 
$
(30,060
)
 
$
6,343,144

 
 
 
 
 
 
 
 
 
PREDECESSOR
FOR THE YEAR ENDED DEC. 31, 2015
(THOUSANDS)
CLECO POWER

 
OTHER

 
ELIMINATIONS

 
TOTAL

Revenue
 
 
 
 
 
 
 
Electric operations
$
1,142,389

 
$

 
$

 
$
1,142,389

Other operations
67,109

 
2,078

 
(1
)
 
69,186

Electric customer credits
(2,173
)
 

 

 
(2,173
)
Affiliate revenue
1,142

 
57,323

 
(58,465
)
 

Operating revenue, net
$
1,208,467

 
$
59,401

 
$
(58,466
)
 
$
1,209,402

Depreciation and amortization
$
147,839

 
$
1,739

 
$
1

 
$
149,579

Merger transaction costs
$

 
$
4,592

 
$
(1
)
 
$
4,591

Interest charges
$
76,560

 
$
1,149

 
$
282

 
$
77,991

Interest income
$
725

 
$
(111
)
 
$
281

 
$
895

Federal and state income tax expense (benefit)
$
79,294

 
$
(1,590
)
 
$

 
$
77,704

Net income (loss)
$
141,350

 
$
(7,681
)
 
$

 
$
133,669

Additions to property, plant, and equipment
$
156,357

 
$
462

 
$

 
$
156,819

Equity investment in investee
$
16,822

 
$

 
$

 
$
16,822

Total segment assets
$
4,233,337

 
$
21,471

 
$
68,546

 
$
4,323,354


Cleco Power
Cleco Power is a vertically integrated, regulated electric utility operating within Louisiana and Mississippi and is viewed as one unit by management. Discrete financial reports are prepared only at the company level.