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Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Future Minimum Lease Payments Due Under Long-Term Operating Leases
The following is a schedule by year of future minimum lease payments due under Cleco’s and Cleco Power’s long-term operating leases together with the present value of the net minimum lease payments as of December 31, 2022:

(THOUSANDS)CLECO POWERCLECO
Years ending Dec. 31,
2023$3,534 $3,565 
20243,398 3,422 
20253,275 3,278 
20263,241 3,244 
20273,221 3,221 
Thereafter10,026 10,026 
Total minimum lease payments
26,695 26,756 
Less: amount representing interest
4,002 4,011 
Present value of net minimum operating lease payments
$22,693 $22,745 
Current liabilities
$2,903 $2,926 
Non-current liabilities$19,790 $19,819 
Schedule of Leased Property Under Finance Lease
The following is an analysis of the leased property under the finance lease:

(THOUSANDS)AT DEC. 31, 2022AT DEC. 31, 2021
Barges$16,800 $16,800 
Accumulated amortization(5,320)(4,200)
Net finance lease asset$11,480 $12,600 
Schedule of Future Minimum Lease Payments Due Under Finance Lease
The following is a schedule by year of future minimum lease payments due under the finance lease together with the present value of the net minimum lease payments as of December 31, 2022:

(THOUSANDS)
Years ending Dec. 31,
2023$2,203 
20242,203 
20252,203 
20262,203 
20272,203 
Thereafter11,066 
Total minimum lease payments22,081 
Less: amount representing interest8,274 
Present value of net minimum finance lease payments$13,807 
Current liabilities$836 
Non-current liabilities$12,971 
The principal amounts payable under the finance lease agreement for each year through 2027 and thereafter are as follows:

(THOUSANDS)CLECO POWERCLECO
For the year ending Dec. 31,
2023$836 $836 
2024$925 $925 
2025$1,023 $1,023 
2026$1,133 $1,133 
2027$1,253 $1,253 
Thereafter$8,637 $8,637 
Schedule of Total Lease Costs, Supplemental Cash Flow Information, and Other Supplemental Information The following tables reflect total lease costs for Cleco and Cleco Power for the years ended December 31, 2022, and 2021:
Cleco
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20222021
Finance lease cost
Amortization of ROU assets
$1,120 $1,120 
Interest on lease liabilities
1,448 1,521 
Operating lease cost
3,710 3,985 
Variable lease cost
508 385 
Total lease cost
$6,786 $7,011 
Cleco Power
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20222021
Finance lease cost
Amortization of ROU assets
$1,120 $1,120 
Interest on lease liabilities
1,448 1,521 
Operating lease cost
3,675 3,845 
Variable lease cost
508 385 
Total lease cost
$6,751 $6,871 

The following tables present additional information related to Cleco’s and Cleco Power’s operating and finance leases as of and for the years ended December 31, 2022, and 2021:

Cleco
AT DEC. 31,
(THOUSANDS)BALANCE SHEET LINE ITEM20222021
Supplemental balance sheet information
ROU assets
Operating
Operating lease right of use assets
$22,673 $24,014 
Finance
Property, plant, and equipment
11,480 12,600 
Total ROU assets
$34,153 

$36,614 
Current lease liabilities
Operating
Other current liabilities
$2,926 $2,854 
Finance
Long-term debt and finance leases due within one year
836 755 
Non-current lease liabilities
Operating
Operating lease liabilities
19,819 21,128 
Finance
Long-term debt and finance leases, net
12,971 13,807 
Total lease liabilities
$36,552 $38,544 

Cleco Power
AT DEC. 31,
(THOUSANDS)BALANCE SHEET LINE ITEM20222021
Supplemental balance sheet information
ROU assets
Operating
Operating lease right of use assets
$22,628 $23,970 
Finance
Property, plant, and equipment
11,480 12,600 
Total ROU assets
$34,108 

$36,570 
Current lease liabilities
Operating
Other current liabilities
$2,903 $2,832 
Finance
Long-term debt and finance leases due within one year
836 755 
Non-current lease liabilities
Operating
Operating lease liabilities
19,790 21,100 
Finance
Long-term debt and finance leases, net
12,971 13,807 
Total lease liabilities
$36,500 $38,494 

Cleco
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20222021
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases
$3,720 $3,938 
Operating cash flows from finance leases
$1,448 $1,521 
Financing cash flows from finance leases
$755 $682 
Cleco Power
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20222021
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases
$3,685 $3,800 
Operating cash flows from finance leases
$1,448 $1,521 
Financing cash flows from finance leases
$755 $682 

Cleco
AT DEC. 31,
(THOUSANDS)20222021
Other supplemental information
Operating leases
Weighted-average remaining lease term
12.5 years9.0 years
Weighted-average discount rate
4.36 %4.30 %
Finance leases
Weighted-average remaining lease term
10.3 years11.3 years
Weighted-average discount rate
10.18 %10.18 %

Cleco Power
AT DEC. 31, 2022
(THOUSANDS)20222021
Other supplemental information
Operating leases
Weighted-average remaining lease term
11.4 years9.0 years
Weighted-average discount rate
4.35 %4.30 %
Finance leases
Weighted-average remaining lease term
10.3 years11.3 years
Weighted-average discount rate
10.18 %10.18 %
Schedule of Lease Income Under Cottonwood Sale Leaseback Cleco Cajun is Cleco’s only subsidiary with lessor arrangements. Cleco Cajun’s lease income under the Cottonwood Sale Leaseback is included in Other operations within Cleco’s Consolidated Statement of Income. Cleco Cajun’s lease income under the Cottonwood Sale Leaseback for the years ended December 31, 2022, and 2021 was as follows:
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20222021
Fixed payments$40,000 $40,000 
Variable payments22,359 18,226 
Amortization of deferred lease liability (1)
9,205 9,205 
Total lease income$71,564 $67,431 
(1) Consists of amortization of the deferred lease revenue resulting from the fair value of the lease between Cottonwood Energy and a special-purpose entity that is a subsidiary of NRG Energy.
Schedule of Remaining Minimum Lease Payments to be Received Under Cottonwood Sale Leaseback
The remaining minimum lease payments to be received under the Cottonwood Sale Leaseback are as follows:

(THOUSANDS)
Years ending Dec. 31,
2023$40,000 
202440,000 
202516,667 
Total payments$96,667 
Schedule of Property Associated with Cottonwood Sale Leaseback Property associated with the Cottonwood Sale Leaseback was as follows:
AT DEC. 31,
(THOUSANDS)20222021
Property, plant, and equipment$572,044 $552,659 
Accumulated depreciation(117,981)(84,065)
Net property, plant, and equipment$454,063 $468,594