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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating revenue        
Electric operations $ 451,902 $ 341,062 $ 1,130,318 $ 897,486
Other operations 49,780 20,186 131,544 61,067
Affiliate revenue 0 0 0 0
Gross operating revenue 501,682 361,248 1,261,862 958,553
Electric customer credits (13,711) (2,992) (31,832) (24,276)
Operating revenue, net 487,971 358,256 1,230,030 934,277
Operating expenses        
Fuel used for electric generation 141,722 130,987 354,921 275,565
Purchased power 85,176 29,608 213,912 132,921
Other operations and maintenance 82,913 49,321 208,608 154,043
Depreciation and amortization 57,004 43,763 158,395 128,076
Taxes other than income taxes 17,611 12,091 47,081 35,674
Merger transaction and commitment costs 2,006 6,376 7,792 13,445
Total operating expenses 386,432 272,146 990,709 739,724
Operating income 101,539 86,110 239,321 194,553
Interest income 1,690 1,832 4,456 4,043
Allowance for equity funds used during construction 3,619 3,829 14,825 9,416
Other income (expense), net (1,363) (1,164) 292 (7,111)
Interest charges        
Interest charges, net 37,412 33,072 111,426 98,059
Allowance for borrowed funds used during construction (1,580) (1,244) (5,755) (3,165)
Total interest charges 35,832 31,828 105,671 94,894
Income before income taxes 69,653 58,779 153,223 106,007
Federal and state income tax expense 14,088 11,419 32,355 21,947
Net income 55,565 47,360 120,868 84,060
CLECO POWER        
Operating revenue        
Electric operations 339,869 343,482 862,969 904,746
Other operations 18,485 20,186 53,318 61,066
Affiliate revenue 334 223 971 651
Gross operating revenue 358,688 363,891 917,258 966,463
Electric customer credits (13,711) (2,992) (30,565) (24,276)
Operating revenue, net 344,977 360,899 886,693 942,187
Operating expenses        
Fuel used for electric generation 116,831 130,987 297,197 275,565
Purchased power 34,908 29,608 83,048 132,921
Other operations and maintenance 57,718 50,837 148,330 158,170
Depreciation and amortization 44,903 41,687 126,610 121,796
Taxes other than income taxes 12,485 11,717 33,023 34,548
Total operating expenses 266,845 264,836 688,208 723,000
Operating income 78,132 96,063 198,485 219,187
Interest income 1,421 1,606 3,281 3,560
Allowance for equity funds used during construction 3,619 3,829 14,825 9,416
Other income (expense), net (1,231) (2,251) (2,091) (6,422)
Interest charges        
Interest charges, net 19,563 19,139 58,253 56,823
Allowance for borrowed funds used during construction (1,580) (1,244) (5,755) (3,165)
Total interest charges 17,983 17,895 52,498 53,658
Income before income taxes 63,958 81,352 162,002 172,083
Federal and state income tax expense 12,431 18,016 34,407 39,724
Net income $ 51,527 $ 63,336 $ 127,595 $ 132,359