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Pension Plan and Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2023

The components of net periodic pension and Other Benefits cost for the three and six months ended June 30, 2023, and 2022 were as follows:


	PENSION BENEFITS				OTHER BENEFITS
	FOR THE THREE MONTHS ENDED JUNE 30,				FOR THE THREE MONTHS ENDED JUNE 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	1,173	$	2,040	$	365	$	546
Interest cost	6,606		4,960		566		368
Expected return on plan assets	(7,386)		(6,177)		—		—
Amortizations

Net loss (gain)	—		3,083		(13)		298
Net periodic benefit cost	$	393	$	3,906	$	918	$	1,212



	PENSION BENEFITS				OTHER BENEFITS
	FOR THE SIX MONTHS ENDED JUNE 30,				FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	2,347	$	4,086	$	729	$	1,092
Interest cost	13,211		9,920		1,132		736
Expected return on plan assets	(14,772)		(12,354)		—		—
Amortizations

Net loss (gain)	—		6,168		(25)		596
Net periodic benefit cost	$	786	$	7,820	$	1,836	$	2,424

The components of the net periodic benefit cost related to SERP for the three and six months ended June 30, 2023, and 2022 were as follows:


	FOR THE THREE MONTHS ENDED JUNE 30,				FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	35	$	57	$	71	$	113
Interest cost	901		670		1,802		1,340
Amortizations
Prior period service credit	(54)		(54)		(107)		(107)
Net (gain) loss	(15)		262		(32)		524
Net periodic benefit cost	$	867	$	935	$	1,734	$	1,870

The current and non-current portions of

the Other Benefits liability for Cleco and Cleco Power at June 30, 2023, and December 31, 2022, were as follows:

The current and non-current portions of the SERP liability for Cleco and Cleco Power at June 30, 2023, and December 31, 2022, were as follows:

Cleco’s 401(k) Plan expense for the three and six months ended June 30, 2023, and 2022 was as follows:


	FOR THE THREE MONTHS ENDED JUNE 30,				FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2023		2022		2023		2022
401(k) Plan expense	$	1,926	$	1,522	$	4,080	$	3,702

The expense of the 401(k) Plan related to Cleco’s other subsidiaries for the three and six months ended June 30, 2023, and 2022 was as follows:


	FOR THE THREE MONTHS ENDED JUNE 30,				FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)	2023		2022		2023		2022
401(k) Plan expense	$	670	$	539	$	1,572	$	1,449