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Segment Disclosures (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information The financial results in the following tables are presented on an accrual basis. EBITDA is a key non-GAAP financial measure used by the CEO to assess the operating performance of Cleco’s segment. Management evaluates the performance of Cleco’s segment and allocates resources to it based on segment profit and the requirements to implement strategic initiatives and projects to meet current business objectives. EBITDA is defined as net income adjusted for interest, income taxes, depreciation, and amortization. Depreciation and amortization in the following tables includes amortization of intangible assets recorded for the fair value adjustment of wholesale power supply agreements as a result of the 2016 Merger. Material intercompany transactions occur on a regular basis. These intercompany transactions relate primarily to joint and common administrative support services.
Segment Information
FOR THE THREE MONTHS ENDED JUNE 30, 2023 (THOUSANDS)
CLECO POWER
Revenue 
Electric operations$263,176 
Other operations24,741 
Affiliate revenue1,635 
Electric customer credits(736)
Operating revenue, net$288,816 
Net income $43,439 
Add: Depreciation and amortization43,722 
Less: Interest income579 
Add: Interest charges24,183 
Add: Federal and state income tax expense 3,247 
EBITDA$114,012 
FOR THE THREE MONTHS ENDED JUNE 30, 2023 (THOUSANDS)
CLECO POWEROTHERELIMINATIONSTOTAL
Revenue
Electric operations$263,176 $(2,387)$— $260,789 
Other operations24,741 1 — 24,742 
Affiliate revenue1,635 28,902 (30,537)— 
Electric customer credits(736)— — (736)
Operating revenue, net$288,816 $26,516 $(30,537)$284,795 
Depreciation and amortization$43,722 $4,433 
(1)
$— $48,155 
Interest income$579 $133 $(39)$673 
Interest charges$24,183 $16,624 $(39)$40,768 
Federal and state income tax expense (benefit)$3,247 $(6,236)$— $(2,989)
Income (loss) from continuing operations, net of income taxes$43,439 $(20,380)$(1)$23,058 
Income from discontinued operations, net of income taxes— 24,272 — 24,272 
Net income $43,439 $3,892 $(1)$47,330 
(1) Includes $2.4 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger.
FOR THE THREE MONTHS ENDED JUNE 30, 2022 (THOUSANDS)
CLECO POWER
Revenue
Electric operations$368,614 
Other operations18,686 
Affiliate revenue1,628 
Electric customer credits(129)
Operating revenue, net$388,799 
Net income$54,705 
Add: Depreciation and amortization44,299 
Less: Interest income1,035 
Add: Interest charges21,305 
Add: Federal and state income tax expense3,214 
EBITDA$122,488 

FOR THE THREE MONTHS ENDED JUNE 30, 2022 (THOUSANDS)
CLECO POWEROTHERELIMINATIONSTOTAL
Revenue
Electric operations$368,614 $(2,420)$— $366,194 
Other operations18,686 2 — 18,688 
Affiliate revenue1,628 25,752 (27,380)— 
Electric customer credits(129)— — (129)
Operating revenue, net$388,799 $23,334 $(27,380)$384,753 
Depreciation and amortization$44,299 $4,373 
(1)
$1 $48,673 
Interest income $1,035 $53 $(22)$1,066 
Interest charges$21,305 $13,863 $(21)$35,147 
Federal and state income tax expense (benefit)$3,214 $(6,791)$— $(3,577)
Income (loss) from continuing operations, net of income taxes$54,705 $(23,603)$(1)$31,101 
Loss from discontinued operations, net of income taxes— (29,738)— (29,738)
Net income $54,705 $(53,341)$(1)$1,363 
(1) Includes $2.4 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger.
Segment Information
FOR THE SIX MONTHS ENDED JUNE 30, 2023 (THOUSANDS)
CLECO POWER
Revenue 
Electric operations$559,524 
Other operations52,044 
Affiliate revenue3,323 
Electric customer credits(1,386)
Operating revenue, net$613,505 
Net income$66,256 
Add: Depreciation and amortization94,454 
Less: Interest income1,764 
Add: Interest charges48,521 
Add: Federal and state income tax expense4,737 
EBITDA$212,204 
FOR THE SIX MONTHS ENDED JUNE 30, 2023 (THOUSANDS)
CLECO POWEROTHERELIMINATIONSTOTAL
Revenue
Electric operations$559,524 $(4,807)$— $554,717 
Other operations52,044 2 — 52,046 
Affiliate revenue3,323 56,416 (59,739)— 
Electric customer credits(1,386)— — (1,386)
Operating revenue, net$613,505 $51,611 $(59,739)$605,377 
Depreciation and amortization$94,454 $8,910 
(2)
$— $103,364 
Interest income$1,764 $277 $(101)$1,940 
Interest charges$48,521 $31,836 $(101)$80,256 
Federal and state income tax expense (benefit)$4,737 $(7,891)$— $(3,154)
Income (loss) from continuing operations, net of income taxes$66,256 $(45,047)$(2)$21,207 
Loss from discontinued operations, net of income taxes— (77,899)— (77,899)
Net income (loss)$66,256 $(122,946)$(2)$(56,692)
Additions to property, plant, and equipment$110,480 $4,679 $— $115,159 
Equity investment in investees (1)
$2,072 $(345,348)$345,348 $2,072 
Goodwill (1)
$1,490,797 $— $— $1,490,797 
Total segment assets (1)
$6,893,458 $1,081,729 $196,360 $8,171,547 
(1) Balances as of June 30, 2023.
(2) Includes $4.8 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger.
FOR THE SIX MONTHS ENDED JUNE 30, 2022 (THOUSANDS)
CLECO POWER
Revenue
Electric operations$664,711 
Other operations37,771 
Affiliate revenue3,087 
Electric customer credits(265)
Operating revenue, net$705,304 
Net income$93,729 
Add: Depreciation and amortization89,538 
Less: Interest income1,775 
Add: Interest charges40,108 
Add: Federal and state income tax expense3,938 
EBITDA$225,538 
FOR THE SIX MONTHS ENDED JUNE 30, 2022 (THOUSANDS)
CLECO POWEROTHERELIMINATIONSTOTAL
Revenue
Electric operations$664,711 $(4,840)$— $659,871 
Other operations37,771 3 — 37,774 
Affiliate revenue3,087 53,145 (56,232)— 
Electric customer credits(265)— — (265)
Operating revenue, net$705,304 $48,308 $(56,232)$697,380 
Depreciation and amortization$89,538 $8,752 
(2)
$1 $98,291 
Interest income$1,775 $83 $(49)$1,809 
Interest charges$40,108 $27,730 $(50)$67,788 
Federal and state income tax expense (benefit)$3,938 $(15,048)$— $(11,110)
Income (loss) from continuing operations, net of income taxes$93,729 $(37,436)$— $56,293 
Loss from discontinued operations, net of income taxes— 100,814 — 100,814 
Net income$93,729 $63,378 $— $157,107 
Additions to property, plant, and equipment$98,162 $3,511 $— $101,673 
Equity investment in investees (1)
$2,072 $(320,348)$320,348 $2,072 
Goodwill (1)
$1,490,797 $— $— $1,490,797 
Total segment assets (1)
$6,834,970 $1,237,096 $181,683 $8,253,749 
(1) Balances as of December 31, 2022.
(2) Includes $4.8 million of amortization of intangible assets related to Cleco Power’s wholesale power supply agreements as a result of the 2016 Merger.
FOR THE THREE MONTHS ENDED JUNE 30,FOR THE SIX MONTHS ENDED JUNE 30,
(THOUSANDS)2023202220232022
Net income (loss)$47,330 $1,363 $(56,692)$157,107 
Less: income (loss) from discontinued operations, net of income taxes24,272 (29,738)(77,899)100,814 
Income (loss) from continuing operations, net of income taxes$23,058 $31,101 $21,207 $56,293 
Add: Depreciation and amortization48,155 48,673 103,364 98,291 
Less: Interest income673 1,066 1,940 1,809 
Add: Interest charges40,768 35,147 80,256 67,788 
Add: Federal and state income tax benefit(2,989)(3,577)(3,154)(11,110)
Add: Other corporate costs and noncash items (1)
5,693 12,210 12,471 16,085 
Total segment EBITDA$114,012 $122,488 $212,204 $225,538 
(1) Adjustments made for Other and Elimination totals not allocated to total segment EBITDA.