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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenue        
Electric operations $ 321,956 $ 365,466 $ 633,113 $ 678,416
Other operations 44,902 42,367 89,810 81,764
Affiliate revenue 0 0 0 0
Gross operating revenue 366,858 407,833 722,923 760,180
Electric customer credits (9,100) (9,960) (17,593) (18,120)
Operating revenue, net 357,758 397,873 705,330 742,060
Operating expenses        
Fuel used for electric generation 67,864 109,145 144,501 213,199
Purchased power 59,505 68,637 125,825 128,736
Other operations and maintenance 71,798 64,964 146,564 125,697
Depreciation and amortization 54,087 51,535 109,960 101,391
Taxes other than income taxes 14,036 15,600 30,572 29,470
Merger transaction and commitment costs 274 796 3,049 5,786
Total operating expenses 267,564 310,677 560,471 604,279
Operating income 90,194 87,196 144,859 137,781
Interest income 898 1,275 2,054 2,767
Allowance for equity funds used during construction 127 5,518 53 11,206
Other income (expense), net 257 (1,122) (12,452) 1,655
Interest charges        
Interest charges, net 35,023 37,898 70,350 74,014
Allowance for borrowed funds used during construction (308) (2,058) (487) (4,175)
Total interest charges 34,715 35,840 69,863 69,839
Income before income taxes 56,761 57,027 64,651 83,570
Federal and state income tax expense 13,593 12,281 15,155 18,267
Net income 43,168 44,746 49,496 65,303
Depreciation and amortization 54,087 51,535 109,960 101,391
CLECO POWER        
Operating revenue        
Electric operations 239,643 265,924 464,073 523,100
Other operations 15,904 15,404 31,668 34,833
Affiliate revenue 1,240 337 2,346 637
Gross operating revenue 256,787 281,665 498,087 558,570
Electric customer credits (9,100) (8,693) (17,440) (16,853)
Operating revenue, net 247,687 272,972 480,647 541,717
Operating expenses        
Fuel used for electric generation 64,064 86,235 125,129 180,366
Purchased power 19,179 18,486 42,641 48,140
Other operations and maintenance 54,667 42,914 111,608 90,614
Depreciation and amortization 41,596 39,330 85,273 81,707
Taxes other than income taxes 9,448 10,561 21,725 20,538
Total operating expenses 188,954 197,526 386,376 421,365
Operating income 58,733 75,446 94,271 120,352
Interest income 755 867 1,709 1,860
Allowance for equity funds used during construction 127 5,518 53 11,206
Other income (expense), net (3,423) (1,127) (6,091) (859)
Interest charges        
Interest charges, net 18,911 19,428 37,671 38,690
Allowance for borrowed funds used during construction (308) (2,058) (487) (4,175)
Total interest charges 18,603 17,370 37,184 34,515
Income before income taxes 37,589 63,334 52,758 98,044
Federal and state income tax expense 9,356 13,978 12,694 21,976
Net income 28,233 49,356 40,064 76,068
Depreciation and amortization $ 41,596 $ 39,330 $ 85,273 $ 81,707