Debt (Tables)

12 Months Ended

Dec. 31, 2018

Cleco’s total indebtedness as of December 31, 2018, and 2017 was as follows:



Cleco
	AT DEC. 31,
(THOUSANDS)	2018			2017
Total Cleco Power long-term debt and capital leases, net	$	1,387,774		$	1,341,475
Cleco Holdings’ long-term debt, net
Senior notes, 3.250%, due 2023	165,000			165,000
Senior notes, 3.743%, due 2026	535,000			535,000
Senior notes, 4.973%, due 2046	350,000			350,000
Bank term loan, variable rate, due 2021	300,000			300,000
Unamortized debt issuance costs⁽¹⁾	(1,989		)	(2,516		)
Fair value adjustment	138,700			147,146
Total Cleco long-term debt and capital leases, net	$	2,874,485		$	2,836,105

⁽¹⁾For December 31, 2018, and 2017, this amount includes unamortized debt issuance costs for Cleco Holdings of $8.2 million and $9.2 million, respectively, partially offset by deferred debt issuance costs eliminated as a result of the 2016 Merger of $6.3 million and $6.7 million, respectively. For more information, see Note 5 — “Regulatory Assets and Liabilities — Cleco Holdings’ 2016 Merger Adjustments.”

Future Amounts Payable Under Long-Term Debt Agreements

The principal amounts payable under long-term debt agreements for each year through 2023 and thereafter are as follows:



(THOUSANDS)	CLECO		CLECO POWER
For the year ending Dec. 31,
2019	$	20,571	$	20,571
2020	$	11,054	$	11,054
2021	$	300,000	$	—
2022	$	25,000	$	25,000
2023	$	265,000	$	100,000
Thereafter	$	2,135,000	$	1,250,000

Schedule of Future Minimum Lease Payments for Capital Leases

The amounts payable under the capital lease agreements for each year through 2023 and thereafter are as follows:



(THOUSANDS)	CLECO		CLECO POWER
For the year ending Dec. 31,
2019	$	557	$	557
2020	$	617	$	617
2021	$	682	$	682
2022	$	755	$	755
2023	$	836	$	836
Thereafter	$	12,971	$	12,971

CLECO POWER

Debt Instrument [Line Items]

Total Indebtedness

Cleco Power’s total indebtedness as of December 31, 2018, and 2017 was as follows:



Cleco Power
	AT DEC. 31,
(THOUSANDS)	2018			2017
Bonds
Senior notes, 2.94%, due 2022	$	25,000		$	25,000
Senior notes, 3.08%, due 2023	100,000			100,000
Senior notes, 3.17%, due 2024	50,000			—
Senior notes, 3.68%, due 2025	75,000			75,000
Senior notes, 3.47%, due 2026	130,000			130,000
Senior notes, 4.33%, due 2027	50,000			50,000
Senior notes, 3.57%, due 2028	200,000			200,000
Senior notes, 6.50%, due 2035	295,000			295,000
Senior notes, 6.00%, due 2040	250,000			250,000
Senior notes, 5.12%, due 2041	100,000			100,000
Series A GO Zone bonds, 2.00%, due 2038, mandatory tender in 2020	50,000			50,000
Series B GO Zone bonds, 4.25%, due 2038	50,000			50,000
Cleco Katrina/Rita’s storm recovery bonds, 5.61%, due 2023	31,625			50,819
Total bonds	1,406,625			1,375,819
Other long-term debt
Barge lease obligations	16,418			—
Gross amount of long-term debt	1,423,043			1,375,819
Less: long-term debt due within one year	20,571			19,193
Less: capital lease obligations classified as long-term debt due within one year	557			—
Unamortized debt discount	(5,695		)	(6,010		)
Unamortized debt issuance costs	(8,446		)	(9,141		)
Total long-term debt and capital leases, net	$	1,387,774		$	1,341,475

Schedule of Future Minimum Lease Payments for Capital Leases

The following is a schedule by years of future minimum lease payments under the capital lease together with the present value of the net minimum lease payments as of December 31, 2018:



	(THOUSANDS)
Years ending Dec. 31,
2019	$	2,611
2020	2,611
2021	2,611
2022	2,611
2023	2,611
Thereafter	23,655
Total minimum lease payments	36,710
Less: executory costs	5,817
Net minimum lease payments	30,893
Less: amount representing interest	14,475
Present value of net minimum lease payments	$	16,418
Current liabilities	$	557
Non-current liabilities	$	15,861