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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating revenue        
Electric operations $ 462,164 $ 386,388 $ 1,180,345 $ 1,019,501
Other operations 55,721 47,597 150,777 137,407
Affiliate revenue 0 0 0 0
Gross operating revenue 517,885 433,985 1,331,122 1,156,908
Electric customer credits (691) (16,534) (40,185) (34,126)
Operating revenue, net 517,194 417,451 1,290,937 1,122,782
Operating expenses        
Fuel used for electric generation 69,318 74,142 150,620 218,643
Purchased power 101,377 82,690 336,573 208,515
Other operations and maintenance 76,506 71,131 221,486 217,693
Depreciation and amortization 60,628 52,892 169,892 162,852
Taxes other than income taxes 17,766 14,660 50,769 45,233
Merger transaction and commitment costs 34 184 (252) 3,234
Total operating expenses 325,629 295,699 929,088 856,170
Operating income 191,565 121,752 361,849 266,612
Interest income 941 910 2,416 2,964
Allowance for equity funds used during construction 711 144 2,703 197
Other expense, net (8,109) (3,374) (15,112) (15,827)
Interest charges        
Interest charges, net 35,174 34,349 103,092 104,700
Allowance for borrowed funds used during construction (545) (289) (1,280) (777)
Total interest charges 34,629 34,060 101,812 103,923
Income before income taxes 150,479 85,372 250,044 150,023
Federal and state income tax expense 30,569 25,075 30,985 40,230
Net income 119,910 60,297 219,059 109,793
CLECO POWER        
Operating revenue        
Electric operations 357,084 288,852 887,191 752,925
Other operations 22,779 17,775 57,674 49,443
Affiliate revenue 1,380 1,506 4,259 3,852
Gross operating revenue 381,243 308,133 949,124 806,220
Electric customer credits (691) (16,534) (40,429) (33,974)
Operating revenue, net 380,552 291,599 908,695 772,246
Operating expenses        
Fuel used for electric generation 149,127 80,148 262,970 205,276
Purchased power 38,211 32,096 151,499 74,737
Other operations and maintenance 56,720 52,595 162,448 164,207
Depreciation and amortization 43,526 40,268 126,534 125,541
Taxes other than income taxes 12,891 11,408 36,707 33,132
Total operating expenses 300,475 216,515 740,158 602,893
Operating income 80,077 75,084 168,537 169,353
Interest income 936 789 2,404 2,498
Allowance for equity funds used during construction 711 144 2,703 197
Other expense, net (6,106) (3,408) (16,064) (9,498)
Interest charges        
Interest charges, net 19,054 18,730 56,672 56,401
Allowance for borrowed funds used during construction (545) (289) (1,280) (777)
Total interest charges 18,509 18,441 55,392 55,624
Income before income taxes 57,109 54,168 102,188 106,926
Federal and state income tax expense 548 18,076 (219) 30,770
Net income $ 56,561 $ 36,092 $ 102,407 $ 76,156