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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 194,966 $ 122,300 $ 152,665
Adjustment to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 273,392 249,494 245,682
Provision for credit losses 5,471 5,488 2,348
Unearned compensation expense 6,678 5,715 5,409
Allowance for equity funds used during construction (9,905) (998) (15,397)
(Gain) loss on risk management assets and liabilities, net (80,314) (13,261) 10,180
Deferred lease revenue (9,205) (9,205) (8,439)
Deferred income taxes 13,954 35,876 40,081
Cash surrender value of company-/trust-owned life insurance (9,438) (3,042) (5,705)
Changes in assets and liabilities      
Accounts receivable (25,865) (8,772) (9,532)
Accounts receivable - affiliate (1,379) (621) (1,041)
Unbilled revenue 2,464 (6,920) 2,107
Fuel inventory and materials and supplies 30,254 (39,602) 18,463
Prepayments (12,097) (20,117) (14,479)
Accounts payable (2,379) (19,612) 13,507
Accounts payable - affiliate 10,014 1,470 3,175
Customer deposits 11,241 6,663 5,888
Provision for merger commitments (2,620) 560 (1,848)
Postretirement benefit obligations 7,106 (9,588) (10,981)
Regulatory assets and liabilities, net (163,788) (76,428) 90
Deferred fuel recoveries (29,405) (4,142) 11,132
Other deferred accounts (13,032) (17,392) (7,436)
Taxes accrued (10,145) 4,633 (3,619)
Interest accrued (380) (3,417) 3,173
Deferred compensation 1,180 1,125 1,316
Other operating (4,128) 5,612 (6,620)
Net cash provided by operating activities 182,640 205,819 430,119
Investing activities      
Additions to property, plant, and equipment (311,141) (389,015) (308,394)
Proceeds from sale of property, plant, and equipment 1,654 451 739
Return of equity investment in investee 7,000 8,000 1,100
Return of investment in company-owned life insurance 820 1,912 3,761
Return of equity investment in tax credit fund 0 0 1,625
Payment to acquire business, net of cash received 0 0 (814,969)
Other investing 834 745 715
Net cash used in investing activities (300,833) (377,907) (1,115,423)
Financing activities      
Draws on revolving credit facilities 185,000 238,000 108,000
Payments on revolving credit facilities (260,000) (163,000) (108,000)
Issuances of long-term debt 325,000 125,000 700,000
Repayments of long-term debt (66,000) (75,055) (390,571)
Payment of financing costs (4,408) (4,570) (5,959)
Contribution from member 0 0 384,900
Other financing (682) (617) (557)
Net cash provided by financing activities 178,910 119,758 687,813
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 60,717 (52,330) 2,509
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 90,265 [1] 142,595 140,086
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 150,982 [2] 90,265 [1] 142,595
Supplementary cash flow information      
Interest paid, net of amount capitalized 126,061 130,544 130,988
Income taxes paid (refunded), net 72 (2,777) (19)
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment 10,369 7,943 16,124
CLECO POWER      
Operating activities      
Net income 134,088 96,655 148,262
Adjustment to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 182,373 172,452 178,245
Provision for credit losses 5,471 5,100 2,348
Unearned compensation expense 1,548 1,150 974
Allowance for equity funds used during construction (9,905) (998) (15,397)
Deferred income taxes (9,211) 6,165 21,799
Cash surrender value of company-/trust-owned life insurance (76) 1,390 2,923
Changes in assets and liabilities      
Accounts receivable (19,707) (21,289) (4,740)
Accounts receivable - affiliate 5,531 3,403 728
Unbilled revenue 2,464 (6,920) 2,107
Fuel inventory and materials and supplies 11,767 (16,609) 21,121
Prepayments (2,370) (1,414) 386
Accounts payable 1,135 (27,401) 14,659
Accounts payable - affiliate (2,071) (276) 5,912
Customer deposits 11,241 6,663 5,888
Provision for merger commitments (2,120) (1,752) (1,848)
Postretirement benefit obligations 5,586 (12,321) (10,078)
Regulatory assets and liabilities, net (165,775) (78,416) (1,897)
Deferred fuel recoveries (29,405) (4,142) 11,132
Other deferred accounts (6,199) (17,710) (6,782)
Taxes accrued (7,647) 23,442 (20,881)
Interest accrued (277) (2,614) (280)
Other operating (3,923) 3,221 (2,097)
Net cash provided by operating activities 102,518 127,779 352,484
Investing activities      
Additions to property, plant, and equipment (300,957) (377,044) (298,565)
Proceeds from sale of property, plant, and equipment 1,558 451 739
Return of equity investment in investee 7,000 8,000 1,100
Return of investment in company-owned life insurance 820 1,912 3,761
Other investing 834 745 715
Net cash used in investing activities (290,745) (365,936) (292,250)
Financing activities      
Draws on revolving credit facilities 185,000 150,000 33,000
Payments on revolving credit facilities (260,000) (75,000) (33,000)
Issuances of long-term debt 325,000 125,000 0
Repayments of long-term debt 0 (11,055) (20,571)
Payment of financing costs (3,141) (1,732) (31)
Distributions to member 0 0 (20,000)
Other financing (682) (617) (557)
Net cash provided by financing activities 246,177 186,596 (41,159)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 57,950 (51,561) 19,075
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 29,391 [3] 80,952 61,877
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 87,341 [4] 29,391 [3] 80,952
Supplementary cash flow information      
Interest paid, net of amount capitalized 68,373 67,799 67,391
Supplementary non-cash investing and financing activities      
Accrued additions to property, plant, and equipment $ 9,696 $ 6,824 $ 14,894
[1] Includes cash and cash equivalents of $84,976, current restricted cash and cash equivalents of $4,545, and non-current restricted cash and cash equivalents of $744.
[2] Includes cash and cash equivalents of $148,563, current restricted cash and cash equivalents of $1,674, and non-current restricted cash and cash equivalents of $745.
[3] (1) Includes cash and cash equivalents of $24,846 and current restricted cash and cash equivalents of $4,545.
[4] (2) Includes cash and cash equivalents of $85,667, and current restricted cash and cash equivalents of $1,674.