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Cleco Power Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating revenue        
Electric operations $ 619,500 $ 462,164 $ 1,509,093 $ 1,180,345
Other operations 61,771 55,721 167,042 150,777
Affiliate revenue 0 0 0 0
Gross operating revenue 681,271 517,885 1,676,135 1,331,122
Electric customer credits (6,728) (691) (6,992) (40,185)
Operating revenue, net 674,543 517,194 1,669,143 1,290,937
Operating expenses        
Fuel used for electric generation 167,068 69,318 333,174 150,620
Purchased power 221,103 101,377 481,728 336,573
Other operations and maintenance 79,830 76,540 222,657 221,234
Depreciation and amortization 58,369 60,628 195,639 169,892
Taxes other than income taxes 18,722 17,766 50,592 50,769
Regulatory disallowance 13,841 0 13,841 0
Total operating expenses 558,933 325,629 1,297,631 929,088
Operating income 115,610 191,565 371,512 361,849
Interest income 2,238 941 4,236 2,416
Allowance for equity funds used during construction 965 711 2,704 2,703
Other expense, net (4,940) (8,109) (13,604) (15,112)
Interest charges        
Interest charges, net 40,353 35,174 111,018 103,092
Allowance for borrowed funds used during construction (463) (545) (1,200) (1,280)
Total interest charges 39,890 34,629 109,818 101,812
Income before income taxes 73,983 150,479 255,030 250,044
Federal and state income tax expense 5,611 30,569 29,551 30,985
Net income 68,372 119,910 225,479 219,059
CLECO POWER        
Operating revenue        
Electric operations 481,153 357,084 1,145,864 887,191
Other operations 24,757 22,779 62,528 57,674
Affiliate revenue 1,657 1,380 4,744 4,259
Gross operating revenue 507,567 381,243 1,213,136 949,124
Electric customer credits (6,728) (691) (6,992) (40,429)
Operating revenue, net 500,839 380,552 1,206,144 908,695
Operating expenses        
Fuel used for electric generation 192,010 149,127 442,249 262,970
Purchased power 111,764 38,211 213,586 151,499
Other operations and maintenance 58,581 56,720 159,588 162,448
Depreciation and amortization 44,368 43,526 133,907 126,534
Taxes other than income taxes 14,940 12,891 39,117 36,707
Regulatory disallowance 13,841 0 13,841 0
Total operating expenses 435,504 300,475 1,002,288 740,158
Operating income 65,335 80,077 203,856 168,537
Interest income 1,726 936 3,501 2,404
Allowance for equity funds used during construction 965 711 2,704 2,703
Other expense, net (1,591) (6,106) (5,852) (16,064)
Interest charges        
Interest charges, net 24,303 19,054 65,147 56,672
Allowance for borrowed funds used during construction (463) (545) (1,200) (1,280)
Total interest charges 23,840 18,509 63,947 55,392
Income before income taxes 42,595 57,109 140,262 102,188
Federal and state income tax expense 1,862 548 5,800 (219)
Net income $ 40,733 $ 56,561 $ 134,462 $ 102,407