Pension Plan and Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2023

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Periodic Pension and Other Benefits Cost

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

	PENSION BENEFITS				OTHER BENEFITS
	FOR THE THREE MONTHS ENDED SEPT. 30,				FOR THE THREE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	1,173	$	2,043	$	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	$	3,909	$	918	$	1,212

	PENSION BENEFITS				OTHER BENEFITS
	FOR THE NINE MONTHS ENDED SEPT. 30,				FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	3,520	$	6,130	$	1,094	$	1,639
Interest cost	19,817		14,881		1,698		1,103
Expected return on plan assets	(22,158)		(18,531)		—		—
Amortizations
Net loss (gain)	—		9,252		(39)		894
Net periodic benefit cost	$	1,179	$	11,732	$	2,753	$	3,636

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

	FOR THE THREE MONTHS ENDED SEPT. 30,				FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2023		2022		2023		2022
Components of periodic benefit costs
Service cost	$	35	$	57	$	106	$	170
Interest cost	901		670		2,703		2,009
Amortizations
Prior period service credit	(54)		(54)		(161)		(161)
Net (gain) loss	(16)		262		(47)		787
Net periodic benefit cost	$	866	$	935	$	2,601	$	2,805

Schedule of Current and Non-Current Portions of Other Benefits Liability

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

Cleco
(THOUSANDS)	AT SEPT. 30, 2023		AT DEC. 31, 2022
Current	$	5,017	$	5,017
Non-current	$	37,236	$	38,366

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

Cleco
(THOUSANDS)	AT SEPT. 30, 2023		AT DEC. 31, 2022
Current	$	4,713	$	4,713
Non-current	$	63,270	$	63,714

Schedule of Expense of the 401(k) Plan

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

	FOR THE THREE MONTHS ENDED SEPT. 30,				FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2023		2022		2023		2022
401(k) Plan expense	$	1,741	$	1,838	$	5,821	$	5,540

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

	FOR THE THREE MONTHS ENDED SEPT. 30,				FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2023		2022		2023		2022
401(k) Plan expense	$	592	$	643	$	2,164	$	2,092

CLECO POWER

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Current and Non-Current Portions of Other Benefits Liability

Cleco Power
(THOUSANDS)	AT SEPT. 30, 2023		AT DEC. 31, 2022
Current	$	4,310	$	4,310
Non-current	$	29,110	$	30,082

Cleco Power
(THOUSANDS)	AT SEPT. 30, 2023		AT DEC. 31, 2022
Current	$	672	$	672
Non-current	$	8,817	$	9,087