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Cleco Power Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenue        
Electric operations $ 361,838 $ 478,733 $ 916,554 $ 1,138,604
Other operations 31,984 24,759 84,030 62,533
Affiliate revenue 0 0 0 0
Gross operating revenue 393,822 503,492 1,000,584 1,201,137
Electric customer credits 24 (6,728) (1,362) (6,992)
Operating revenue, net 393,846 496,764 999,222 1,194,145
Operating expenses        
Fuel used for electric generation 125,372 107,633 389,216 191,985
Purchased power 44,803 111,764 126,086 213,586
Other operations and maintenance 62,985 62,213 181,260 170,233
Depreciation and amortization 50,055 46,323 148,612 139,774
Taxes other than income taxes 16,746 15,611 48,782 41,288
Regulatory disallowance 0 13,841 0 13,841
Total operating expenses 299,961 357,385 893,956 770,707
Operating income 93,885 139,379 105,266 423,438
Interest income 1,283 1,766 3,223 3,575
Allowance for equity funds used during construction 1,617 965 4,423 2,704
Other (expense) income , net (2,404) (4,952) (2,656) (13,699)
Interest charges        
Interest charges, net 42,212 38,169 123,533 106,694
Allowance for borrowed funds used during construction (178) (463) (1,244) (1,200)
Total interest charges 42,034 37,706 122,289 105,494
Income (loss) from continuing operations before income taxes 52,347 99,452 (12,033) 310,524
Federal and state income tax (benefit) expense (246,494) 9,220 (121,160) 30,472
Net income 156,112 68,372 99,420 225,479
CLECO POWER        
Operating revenue        
Electric operations 364,161 481,153 923,685 1,145,864
Other operations 31,984 24,757 84,028 62,528
Affiliate revenue 1,645 1,657 4,967 4,744
Gross operating revenue 397,790 507,567 1,012,680 1,213,136
Electric customer credits 24 (6,728) (1,362) (6,992)
Operating revenue, net 397,814 500,839 1,011,318 1,206,144
Operating expenses        
Fuel used for electric generation 117,175 192,010 298,586 442,249
Purchased power 44,803 111,764 126,086 213,586
Other operations and maintenance 59,452 58,581 170,827 159,588
Depreciation and amortization 48,012 44,368 142,467 133,907
Taxes other than income taxes 15,818 14,940 46,155 39,117
Regulatory disallowance 0 13,841 0 13,841
Total operating expenses 285,260 435,504 784,121 1,002,288
Operating income 112,554 65,335 227,197 203,856
Interest income 1,215 1,726 2,979 3,501
Allowance for equity funds used during construction 1,617 965 4,423 2,704
Other (expense) income , net (103) (1,591) 198 (5,852)
Interest charges        
Interest charges, net 25,099 24,303 74,686 65,147
Allowance for borrowed funds used during construction (178) (463) (1,244) (1,200)
Total interest charges 24,921 23,840 73,442 63,947
Income (loss) from continuing operations before income taxes 90,362 42,595 161,355 140,262
Federal and state income tax (benefit) expense (552) 1,862 4,185 5,800
Net income $ 90,914 $ 40,733 $ 157,170 $ 134,462