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Cleco Power Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating revenue        
Electric operations $ 492,283 $ 351,936 $ 889,592 $ 718,181
Other operations 53,264 45,330 105,271 95,056
Affiliate revenue 0 0 0 0
Gross operating revenue 545,547 397,266 994,863 813,237
Electric customer credits (129) (18,517) (265) (39,494)
Operating revenue, net 545,418 378,749 994,598 773,743
Operating expenses        
Fuel used for electric generation 168,611 25,482 166,106 81,302
Purchased power 144,797 90,494 260,625 235,196
Other operations and maintenance 74,685 72,583 142,827 144,693
Depreciation and amortization 68,182 54,318 137,270 109,265
Taxes other than income taxes 15,422 11,886 31,870 33,003
Total operating expenses 471,697 254,763 738,698 603,459
Operating income 73,721 123,986 255,900 170,284
Interest income 1,241 829 1,997 1,475
Allowance for equity funds used during construction 808 1,105 1,740 1,991
Other expense, net (8,473) (3,970) (8,663) (7,002)
Interest charges        
Interest charges, net 36,761 33,826 70,664 67,918
Allowance for borrowed funds used during construction (354) (535) (737) (735)
Total interest charges 36,407 33,291 69,927 67,183
Income before income taxes 30,890 88,659 181,047 99,565
Federal and state income tax expense 29,527 9,837 23,940 416
Net income 1,363 78,822 157,107 99,149
CLECO POWER        
Operating revenue        
Electric operations 368,614 262,948 664,711 530,107
Other operations 18,686 16,269 37,771 34,895
Affiliate revenue 1,628 1,224 3,087 2,879
Gross operating revenue 388,928 280,441 705,569 567,881
Electric customer credits (129) (18,762) (265) (39,738)
Operating revenue, net 388,799 261,679 705,304 528,143
Operating expenses        
Fuel used for electric generation 149,658 68,633 250,239 113,843
Purchased power 51,412 34,255 101,822 113,288
Other operations and maintenance 52,277 52,160 101,006 105,726
Depreciation and amortization 44,299 40,933 89,538 83,009
Taxes other than income taxes 11,547 7,314 24,178 23,816
Total operating expenses 309,193 203,295 566,783 439,682
Operating income 79,606 58,384 138,521 88,461
Interest income 1,035 825 1,775 1,468
Allowance for equity funds used during construction 808 1,105 1,740 1,991
Other expense, net (2,225) (5,700) (4,261) (9,958)
Interest charges        
Interest charges, net 21,659 18,772 40,845 37,618
Allowance for borrowed funds used during construction (354) (535) (737) (735)
Total interest charges 21,305 18,237 40,108 36,883
Income before income taxes 57,919 36,377 97,667 45,079
Federal and state income tax expense 3,214 8,956 3,938 (767)
Net income $ 54,705 $ 27,421 $ 93,729 $ 45,846