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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenue        
Electric operations $ 365,466 $ 294,213 $ 678,416 $ 556,424
Other operations 42,367 18,685 81,764 40,881
Affiliate revenue 0 0 0 0
Gross operating revenue 407,833 312,898 760,180 597,305
Electric customer credits (9,960) (13,637) (18,120) (21,284)
Operating revenue, net 397,873 299,261 742,060 576,021
Operating expenses        
Fuel used for electric generation 109,145 77,562 213,199 144,578
Power purchased for utility customers 68,637 50,154 128,736 103,313
Other operations and maintenance 64,970 49,580 125,705 104,718
Depreciation and amortization 51,535 41,807 101,391 84,314
Taxes other than income taxes 15,600 11,326 29,470 23,584
Merger transaction and commitment costs 796 5,123 5,786 7,070
Gain on sale of asset (6) 0 (8) 0
Total operating expenses 310,677 235,552 604,279 467,577
Operating income 87,196 63,709 137,781 108,444
Interest income 1,275 1,427 2,767 2,211
Allowance for equity funds used during construction 5,518 3,224 11,206 5,587
Other expense, net (1,122) (2,947) 1,655 (5,947)
Interest charges        
Interest charges, net 37,898 32,957 74,014 64,988
Allowance for borrowed funds used during construction (2,058) (1,048) (4,175) (1,921)
Total interest charges 35,840 31,909 69,839 63,067
Income before income taxes 57,027 33,504 83,570 47,228
Federal and state income tax expense 12,281 7,665 18,267 10,528
Net income 44,746 25,839 65,303 36,700
CLECO POWER        
Operating revenue        
Electric operations 265,924 296,633 523,100 561,264
Other operations 15,404 18,685 34,833 40,880
Affiliate revenue 337 220 637 428
Gross operating revenue 281,665 315,538 558,570 602,572
Electric customer credits (8,693) (13,637) (16,853) (21,284)
Operating revenue, net 272,972 301,901 541,717 581,288
Operating expenses        
Fuel used for electric generation 86,235 77,562 180,366 144,578
Power purchased for utility customers 18,486 50,154 48,140 103,313
Other operations and maintenance 42,914 50,950 90,614 107,332
Depreciation and amortization 39,330 39,720 81,707 80,109
Taxes other than income taxes 10,561 10,913 20,538 22,831
Total operating expenses 197,526 229,299 421,365 458,163
Operating income 75,446 72,602 120,352 123,125
Interest income 867 1,313 1,860 1,953
Allowance for equity funds used during construction 5,518 3,224 11,206 5,587
Other expense, net (1,127) (2,302) (859) (4,171)
Interest charges        
Interest charges, net 19,428 19,155 38,690 37,684
Allowance for borrowed funds used during construction (2,058) (1,048) (4,175) (1,921)
Total interest charges 17,370 18,107 34,515 35,763
Income before income taxes 63,334 56,730 98,044 90,731
Federal and state income tax expense 13,978 13,710 21,976 21,707
Net income $ 49,356 $ 43,020 $ 76,068 $ 69,024