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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income $ 152,665 $ 94,437 $ 138,080
Adjustment to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 245,682 187,426 186,326
Provision for doubtful accounts 2,348 797 2,778
Unearned compensation expense 5,409 5,837 3,745
Allowance for equity funds used during construction (15,397) (14,159) (8,320)
Loss on risk management assets and liabilities, net 10,180 0 0
Deferred lease revenue (8,439) 0 0
Deferred income taxes 40,081 6,543 (41,966)
Deferred fuel costs 11,132 (18,549) 11,909
Cash surrender value of company-/trust-owned life insurance (5,705) 2,726 (5,892)
Changes in assets and liabilities      
Accounts receivable (9,532) 3,123 (25,584)
Accounts receivable, affiliate (1,041) 635 (622)
Unbilled revenue 2,107 1,084 (2,129)
Fuel inventory and materials and supplies 18,463 (2,981) (44,995)
Prepayments (14,479) 153 2,852
Accounts payable 13,507 18,898 14,705
Accounts payable, affiliate 3,175 0 0
Customer deposits 5,888 13,757 12,381
Provision for merger commitments (1,848) (3,273) (12,971)
Postretirement benefit obligations (10,981) 4,646 4,884
Regulatory assets and liabilities, net 90 3,032 12,531
Other deferred accounts (7,147) (9,748) (8,380)
Taxes accrued (3,619) 20,976 23,118
Interest accrued 3,173 1,124 (582)
Deferred compensation 1,316 (1,521) 308
Other operating (6,909) 2,798 3,252
Net cash provided by operating activities 430,119 317,761 265,428
Investing activities      
Additions to property, plant, and equipment (323,791) (291,061) (236,932)
Allowance for equity funds used during construction 15,397 14,159 8,320
Proceeds from sale of property, plant, and equipment 739 995 17,499
Reimbursement for property loss 141 1,375 187
Issuance of note receivable 0 (16,800) 0
Return of equity investment in investee 1,100 0 500
Return of investment in company-owned life insurance 3,761 0 0
Return of equity investment in tax credit fund 1,625 2,775 7,502
Payment to acquire business, net of cash received (814,969) 0 0
Other investing 574 397 (630)
Net cash (used in) provided by investing activities (1,115,423) (288,160) (203,554)
Financing activities      
Draws on credit facilities 108,000 0 179,000
Payments on credit facilities (108,000) 0 (179,000)
Issuances of long-term debt 700,000 50,000 125,000
Repayments of long-term debt (390,571) (19,193) (17,896)
Payment of financing costs (5,959) (791) (463)
Contribution from member 384,900 0 0
Distributions to member 0 (71,350) (84,065)
Other financing (557) (383) (1,819)
Net cash provided by (used in) financing activities 687,813 (41,717) 20,757
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 2,509 (12,116) 82,631
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 140,086 [1] 152,202 69,571
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 142,595 [2] 140,086 [1] 152,202
Supplementary cash flow information      
Interest paid, net of amount capitalized 130,988 124,154 118,009
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment 16,124 56,450 31,083
Non-cash additions to property, plant, and equipment 52 1,224 3,015
Incurrence of finance lease obligation - barges 0 16,800 0
CLECO POWER      
Operating activities      
Net income 148,262 162,257 150,738
Adjustment to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 178,245 168,248 165,200
Provision for doubtful accounts 2,348 797 2,677
Unearned compensation expense 974 1,873 1,972
Allowance for equity funds used during construction (15,397) (14,159) (8,320)
Deferred income taxes 21,799 (11,545) (34,191)
Deferred fuel costs 11,132 (18,549) 11,909
Cash surrender value of company-/trust-owned life insurance 2,923 (219) (260)
Changes in assets and liabilities      
Accounts receivable (4,740) 3,967 (25,696)
Accounts receivable, affiliate 728 426 1,865
Unbilled revenue 2,107 1,084 (2,129)
Fuel inventory and materials and supplies 21,121 (2,981) (44,995)
Prepayments 386 107 2,745
Accounts payable 14,659 22,419 11,005
Accounts payable, affiliate 5,912 (4,700) 1,349
Customer deposits 5,888 13,757 12,381
Provision for merger commitments (1,848) (3,273) (12,971)
Postretirement benefit obligations (10,078) 4,252 4,849
Regulatory assets and liabilities, net (1,897) 1,044 10,544
Other deferred accounts (6,338) (5,421) (8,137)
Taxes accrued (20,881) 16,566 44,101
Interest accrued (280) 1,169 (59)
Other operating (2,541) 2,569 2,501
Net cash provided by operating activities 352,484 339,688 287,078
Investing activities      
Additions to property, plant, and equipment (313,962) (289,153) (235,252)
Allowance for equity funds used during construction 15,397 14,159 8,320
Proceeds from sale of property, plant, and equipment 739 995 4,078
Reimbursement for property loss 141 1,375 187
Issuance of note receivable 0 (16,800) 0
Return of equity investment in investee 1,100 0 500
Return of investment in company-owned life insurance 3,761 0 0
Other investing 574 397 0
Net cash (used in) provided by investing activities (292,250) (289,027) (222,167)
Financing activities      
Draws on credit facilities 33,000 0 106,000
Payments on credit facilities (33,000) 0 (106,000)
Issuances of long-term debt 0 50,000 125,000
Repayments of long-term debt (20,571) (19,193) (17,896)
Distributions to member (20,000) (121,400) (135,000)
Other financing (588) (1,148) (2,013)
Net cash provided by (used in) financing activities (41,159) (91,741) (29,909)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 19,075 (41,080) 35,002
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 61,877 [3] 102,957 67,955
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 80,952 [4] 61,877 [3] 102,957
Supplementary cash flow information      
Interest paid, net of amount capitalized 67,391 70,357 65,984
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment 14,894 55,718 30,883
Non-cash additions to property, plant, and equipment 52 1,224 3,015
Incurrence of finance lease obligation - barges $ 0 $ 16,800 $ 0
[1] Includes cash and cash equivalents of $116,292, current restricted cash and cash equivalents of $11,100, and non-current restricted cash and cash equivalents of $15,203.
[2] Includes cash and cash equivalents of $110,175, current restricted cash and cash equivalents of $11,241, and non-current restricted cash and cash equivalents of $18,670.
[3] (1) Includes cash and cash equivalents of $31,987, current restricted cash and cash equivalents of $11,241, and non-current restricted cash and cash equivalents of $18,649.
[4] (2) Includes cash and cash equivalents of $55,489, current restricted cash and cash equivalents of $11,100, and non-current restricted cash and cash equivalents of $14,363.