Disclosures about Segments (Tables)

3 Months Ended

Mar. 31, 2021


Segment Information For The Three Months Ended Mar. 31,
2021 (THOUSANDS)	CLECO POWER		CLECO CAJUN			TOTAL SEGMENTS
Revenue
Electric operations	$	267,158	$	101,507		$	368,665
Other operations	18,626		33,039			51,665
Affiliate revenue	1,655		—			1,655
Electric customer credits	(20,976)		—			(20,976)
Operating revenue, net	$	266,463	$	134,546		$	401,009
Net income	$	18,425	$	14,481		$	32,906
Add: Depreciation and amortization	42,076		11,653		(1)	53,729
Less: Interest income	642		3			645
Add: Interest charges	18,646		(152)			18,494
Add: Federal and state income tax (benefit) expense	(9,723)		4,610			(5,113)



EBITDA	$	68,782	$	30,589		$	99,371
Additions to property, plant, and equipment	$	37,150	$	2,313		$	39,463
Equity investment in investee	$	7,322	$	—		$	7,322
Goodwill	$	1,490,797	$	—		$	1,490,797
Total segment assets	$	6,341,061	$	1,031,541		$	7,372,602
(1) Includes $3.1 million of amortization of intangible assets and liabilities related to wholesale power supply agreements and $(2.3) million of deferred lease revenue amortization as a result of the Cleco Cajun Transaction.


2021 (THOUSANDS)	TOTAL SEGMENTS		OTHER			ELIMINATIONS		TOTAL
Revenue
Electric operations	$	368,665	$	(2,420)		$	—	$	366,245
Other operations	51,665		1			(1,940)		49,726
Affiliate revenue	1,655		27,156			(28,811)		—
Electric customer credits	(20,976)		—			—		(20,976)
Operating revenue, net	$	401,009	$	24,737		$	(30,751)	$	394,995
Depreciation and amortization	$	53,729	$	4,435	(1)	$	—	$	58,164
Interest income	$	645	$	43		$	(41)	$	647
Interest charges	$	18,494	$	15,440		$	(43)	$	33,891

Federal and state income tax (benefit)	$	(5,113)	$	(4,307)		$	—	$	(9,420)
Net income (loss)	$	32,906	$	(12,579)		$	—	$	20,327
Additions to property, plant, and equipment	$	39,463	$	(805)		$	—	$	38,658
Equity investment in investee	$	7,322	$	—		$	—	$	7,322
Goodwill	$	1,490,797	$	—		$	—	$	1,490,797
Total segment assets	$	7,372,602	$	586,718		$	(168,044)	$	7,791,276
(1) Includes $2.4 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger.


2020 (THOUSANDS)	CLECO POWER		CLECO CAJUN			TOTAL SEGMENTS
Revenue
Electric operations	$	224,430	$	89,147		$	313,577
Other operations	15,764		30,961			46,725
Affiliate revenue	1,106		161			1,267
Electric customer credits	(8,340)		(153)			(8,493)
Operating revenue, net	$	232,960	$	120,116		$	353,076
Net income	$	11,831	$	19,535		$	31,366

Add: Depreciation and amortization	43,677		10,900		(1)	54,577

Less: Interest income	954		155			1,109
Add: Interest charges	18,581		10			18,591
Add: Federal and state income tax expense	3,338		6,421			9,759
EBITDA	$	76,473	$	36,711		$	113,184
Additions to property, plant, and equipment	$	61,477	$	3,341		$	64,818
Equity investment in investees (2)	$	9,072	$	—		$	9,072
Goodwill (2)	$	1,490,797	$	—		$	1,490,797
Total segment assets (2)	$	6,256,944	$	1,029,812		$	7,286,756
(1) Includes $3.1 million of amortization of intangible assets and liabilities related to wholesale power supply agreements and $(2.3) million of deferred lease revenue amortization as a result of the Cleco Cajun Transaction. (2) Balances as of December 31, 2020.


2020 (THOUSANDS)	TOTAL SEGMENTS		OTHER			ELIMINATIONS		TOTAL
Revenue
Electric operations	$	313,577	$	(2,420)		$	—	$	311,157
Other operations	46,725		1			(1,818)		44,908
Affiliate revenue	1,267		29,278			(30,545)		—
Electric customer credits	(8,493)		—			—		(8,493)
Operating revenue, net	$	353,076	$	26,859		$	(32,363)	$	347,572
Depreciation and amortization	$	54,577	$	4,514	(1)	$	(1)	$	59,090
Interest income	$	1,109	$	100		$	(52)	$	1,157
Interest charges	$	18,591	$	16,610		$	(52)	$	35,149

Federal and state income tax expense (benefit)	$	9,759	$	(8,197)		$	—	$	1,562
Net income (loss)	$	31,366	$	(25,039)		$	1	$	6,328
Additions to property, plant, and equipment	$	64,818	$	806		$	—	$	65,624
Equity investment in investees (2)	$	9,072	$	—		$	—	$	9,072
Goodwill (2)	$	1,490,797	$	—		$	—	$	1,490,797
Total segment assets (2)	$	7,286,756	$	595,217		$	(156,404)	$	7,725,569
(1) Includes $2.4 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger. (2) Balances as of December 31, 2020.


	FOR THE THREE MONTHS ENDED MAR. 31,
(THOUSANDS)	2021		2020
Net income	$	20,327	$	6,328
Add: Depreciation and amortization	58,164		59,090

Less: Interest income	647		1,157
Add: Interest charges	33,891		35,149
Add: Federal and state income tax (benefit) expense	(9,420)		1,562
Add: Other corporate costs and noncash items (1)	(2,944)		12,212

Total segment EBITDA	$	99,371	$	113,184
(1) Adjustments made for Other and Elimination totals not allocated to total segment EBITDA.