Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table presents the amounts that have been reclassified from continuing operations and included in discontinued operations within Cleco’s Consolidated Statements of Income for the years ended December 31, 2023, 2022, and 2021:

	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2023		2022		2021
Operating revenue, net
Electric operations	$	543,519	$	496,042	$	398,226
Other operations	125,816		148,823		128,750
Gross operating revenue	669,335		644,865		526,976
Electric customer credits	—		—		244
Operating revenue, net	669,335		644,865		527,220
Operating expenses
Fuel used for electric generation	126,130		169,195		87,091
Purchased power	230,284		380,233		257,703
Other operations and maintenance	87,599		70,611		65,786
Depreciation and amortization	15,891		69,999		52,102
Taxes other than income taxes	13,160		12,330		11,666
Total operating expenses	473,064		702,368		474,348
Operating income (loss)	196,271		(57,503)		52,872
Other income (expense), net	47		127		(618)
Interest, net	(6,919)		(6,079)		(5,523)
Loss on classification as held for sale	(173,000)		—		—
Income (loss) from discontinued operations before income taxes	16,399		(63,455)		46,731
Federal and state income tax expense (benefit)	1,757		(19,118)		11,778
Income (loss) from discontinued operations, net of income taxes	$	14,642	$	(44,337)	$	34,953

The following table presents the assets and liabilities of the Cleco Cajun Sale Group that have been reclassified as held for sale within Cleco’s Consolidated Balance Sheets as of December 31, 2023, and 2022:

(THOUSANDS)	AT DEC. 31, 2023		AT DEC. 31, 2022
Cash, cash equivalents, and restricted cash equivalents	$	4,100	$	4,067
Accounts receivable	70,001		57,822
Fuel inventory, at average cost	47,243		33,153
Materials and supplies, at average cost	36,283		34,195
Energy risk management assets	1,066		518
Property, plant, and equipment, net	648,676		649,067
Prepayments	18,587		23,601
Intangible assets - other	32,569		36,548
Other assets	20,207		23,619
Loss recognized on classification as held for sale	(173,000)		—
Total assets held for sale - discontinued operations	$	705,732	$	862,590
Accounts payable	$	30,442	$	56,609
Deferred lease revenue	19,945		22,246
Intangible liabilities	12,695		13,956
Asset retirement obligations	46,165		63,725
Other liabilities	5,705		6,508
Total liabilities held for sale - discontinued operations	$	114,952	$	163,044

The following table presents the cash flows from discontinued operations related to the Cleco Cajun Sale Group for the years ended December 31, 2023, 2022, and 2021:

	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2023		2022		2021
Net cash provided by operating activities - discontinued operations	$	8,778	$	6,878	$	9,082
Net cash used in investing activities - discontinued operations	$	(8,745)	$	(6,867)	$	(9,081)