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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating revenue    
Electric operations $ 312,949 $ 262,211
Other operations 39,397 22,196
Affiliate revenue 0 0
Gross operating revenue 352,346 284,407
Electric customer credits (8,160) (7,647)
Operating revenue, net 344,186 276,760
Operating expenses    
Fuel used for electric generation 104,054 67,016
Power purchased for utility customers 60,099 53,159
Other operations and maintenance 60,733 55,139
Depreciation and amortization 49,856 42,507
Taxes other than income taxes 13,870 12,258
Merger transaction and commitment costs 4,990 1,947
Gain on sale of asset (2) 0
Total operating expenses 293,600 232,026
Operating income 50,586 44,734
Interest income 1,491 783
Allowance for equity funds used during construction 5,688 2,363
Other income 5,108 554
Other expense (2,331) (3,554)
Interest charges    
Interest charges, net 36,115 32,030
Allowance for borrowed funds used during construction (2,116) (873)
Total interest charges 33,999 31,157
Income before income taxes 26,543 13,723
Federal and state income tax expense 5,986 2,862
Net income 20,557 10,861
CLECO POWER    
Operating revenue    
Electric operations 257,175 264,631
Other operations 19,430 22,195
Affiliate revenue 300 208
Gross operating revenue 276,905 287,034
Electric customer credits (8,160) (7,647)
Operating revenue, net 268,745 279,387
Operating expenses    
Fuel used for electric generation 94,131 67,016
Power purchased for utility customers 29,654 53,159
Other operations and maintenance 47,700 56,385
Depreciation and amortization 42,377 40,388
Taxes other than income taxes 9,978 11,918
Total operating expenses 223,840 228,866
Operating income 44,905 50,521
Interest income 994 641
Allowance for equity funds used during construction 5,688 2,363
Other income 4,596 740
Other expense (4,328) (2,608)
Interest charges    
Interest charges, net 19,261 18,529
Allowance for borrowed funds used during construction (2,116) (873)
Total interest charges 17,145 17,656
Income before income taxes 34,710 34,001
Federal and state income tax expense 7,998 7,997
Net income $ 26,712 $ 26,004