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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating revenue        
Electric operations $ 351,936 $ 321,956 $ 718,181 $ 633,113
Other operations 45,330 44,902 95,056 89,810
Affiliate revenue 0 0 0 0
Gross operating revenue 397,266 366,858 813,237 722,923
Electric customer credits (18,517) (9,100) (39,494) (17,593)
Operating revenue, net 378,749 357,758 773,743 705,330
Operating expenses        
Fuel used for electric generation 25,482 67,864 81,302 144,501
Purchased power 90,494 59,505 235,196 125,825
Other operations and maintenance 72,815 71,798 144,978 146,564
Depreciation and amortization 54,318 54,087 109,265 109,960
Taxes other than income taxes 11,886 14,036 33,003 30,572
Merger transaction and commitment costs (232) 274 (285) 3,049
Total operating expenses 254,763 267,564 603,459 560,471
Operating income 123,986 90,194 170,284 144,859
Interest income 829 898 1,475 2,054
Allowance for equity funds used during construction 1,105 127 1,991 53
Other (expense) income, net (3,970) 257 (7,002) (12,452)
Interest charges        
Interest charges, net 33,826 35,023 67,918 70,350
Allowance for borrowed funds used during construction (535) (308) (735) (487)
Total interest charges 33,291 34,715 67,183 69,863
Income before income taxes 88,659 56,761 99,565 64,651
Federal and state income tax expense 9,837 13,593 416 15,155
Net income 78,822 43,168 99,149 49,496
CLECO POWER        
Operating revenue        
Electric operations 262,948 239,643 530,107 464,073
Other operations 16,269 15,904 34,895 31,668
Affiliate revenue 1,224 1,240 2,879 2,346
Gross operating revenue 280,441 256,787 567,881 498,087
Electric customer credits (18,762) (9,100) (39,738) (17,440)
Operating revenue, net 261,679 247,687 528,143 480,647
Operating expenses        
Fuel used for electric generation 68,633 64,064 113,843 125,129
Purchased power 34,255 19,179 113,288 42,641
Other operations and maintenance 52,160 54,667 105,726 111,608
Depreciation and amortization 40,933 41,596 83,009 85,273
Taxes other than income taxes 7,314 9,448 23,816 21,725
Total operating expenses 203,295 188,954 439,682 386,376
Operating income 58,384 58,733 88,461 94,271
Interest income 825 755 1,468 1,709
Allowance for equity funds used during construction 1,105 127 1,991 53
Other (expense) income, net (5,700) (3,423) (9,958) (6,091)
Interest charges        
Interest charges, net 18,772 18,911 37,618 37,671
Allowance for borrowed funds used during construction (535) (308) (735) (487)
Total interest charges 18,237 18,603 36,883 37,184
Income before income taxes 36,377 37,589 45,079 52,758
Federal and state income tax expense 8,956 9,356 (767) 12,694
Net income $ 27,421 $ 28,233 $ 45,846 $ 40,064