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Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Instrument [Line Items]  
Schedule of Total Indebtedness
Cleco’s total long-term indebtedness as of December 31, 2023, and 2022 was as follows:

Cleco
AT DEC. 31,
(THOUSANDS)20232022
Total Cleco Power long-term debt and finance leases, net
$1,697,152 $1,786,447 
Cleco Holdings’ long-term debt, net
Senior notes, 3.250%, due 2025
165,000 165,000 
Senior notes, 3.743%, due 2026
535,000 535,000 
Senior notes, 3.375%, due 2029
300,000 300,000 
Senior notes, 4.973%, due 2046
350,000 350,000 
Bank term loan, variable rate, due 202466,700 132,300 
Long-term debt due within one year(66,497)(230,524)
Unamortized debt issuance costs(1)
(2,776)(3,877)
Fair value adjustment97,345 104,748 
Total Cleco long-term debt and finance leases, net
$3,141,924 $3,139,094 
(1) For December 31, 2023, and 2022, this amount includes unamortized debt issuance costs for Cleco Holdings of $7.0 million and $8.5 million, respectively, partially offset by deferred debt issuance costs eliminated as a result of the 2016 Merger of $4.3 million and $4.6 million, respectively. For more information, see Note 6 — “Regulatory Assets and Liabilities — Cleco Holdings’ 2016 Merger Adjustments.”
Schedule of Future Amounts Payable Under Long-Term Debt Agreements
The principal amounts payable under long-term debt agreements for each year through 2028 and thereafter are as follows:

(THOUSANDS)CLECO POWERCLECO
For the year ending Dec. 31,
2024$189,499 $256,199 
2025 (1)
$90,087 $255,087 
2026$245,699 $780,699 
2027$66,336 $66,336 
2028$216,999 $216,999 
Thereafter$1,081,806 $1,731,806 
(1) Does not include Series A GO Zone bonds that have a maturity date of December 2038 but a mandatory tender in May 2025.
The cumulative minimum principal amounts committed to be repaid for each year through 2024 are as follows:
(THOUSANDS)
For the year ending Dec. 31,
2019$66,700 
2020$133,300 
2021$200,000 
2022$267,700 
2023$333,300 
2024$400,000 
Schedule of Principal Amounts Payable Under Finance Lease Agreement
The principal amounts payable under the finance lease agreement for each year through 2028 and thereafter are as follows:

(THOUSANDS)
For the year ending Dec. 31,
2024$925 
2025$1,023 
2026$1,133 
2027$1,253 
2028$1,388 
Thereafter$7,249 
CLECO POWER  
Debt Instrument [Line Items]  
Schedule of Total Indebtedness
Cleco Power’s total long-term indebtedness as of December 31, 2023, and 2022 was as follows:

Cleco Power
AT DEC. 31,
(THOUSANDS)20232022
Bonds  
Senior notes, 3.08%, due 2023
$— $100,000 
Senior notes, 3.17%, due 2024
50,000 50,000 
Senior notes, 3.68%, due 2025
75,000 75,000 
Senior notes, 3.47%, due 2026
130,000 130,000 
Senior notes, 5.96%, due 2026
100,000 — 
Senior notes, 4.33%, due 2027
50,000 50,000 
Senior notes, 3.57%, due 2028
200,000 200,000 
Senior notes, 6.50%, due 2035
295,000 295,000 
Senior notes, 6.00%, due 2040
250,000 250,000 
Senior notes, 5.12%, due 2041
100,000 100,000 
Series A GO Zone bonds, 2.50%, due 2038, mandatory tender in 2025
50,000 50,000 
Series B GO Zone bonds, 4.25%, due 2038
50,000 50,000 
Cleco Securitization I’s storm recovery bonds, 4.016%, due 2033
115,426 125,000 
Cleco Securitization I’s storm recovery bonds, 4.646%, due 2044
300,000 300,000 
Total bonds1,765,426 1,775,000 
Bank term loan, variable rate, due 2024125,000 125,000 
Finance leases  
Barge lease obligations
12,971 13,807 
Gross amount of long-term debt and finance leases
1,903,397 1,913,807 
Long-term debt due within one year(189,389)(109,508)
Finance leases classified as long-term debt due within one year(925)(836)
Unamortized debt discount(4,178)(4,492)
Unamortized debt issuance costs(11,753)(12,524)
Total long-term debt and finance leases, net$1,697,152 $1,786,447 
Schedule of Principal Amounts Payable Under Finance Lease Agreement
The following is a schedule by year of future minimum lease payments due under the finance lease together with the present value of the net minimum lease payments as of December 31, 2023:

(THOUSANDS)
Years ending Dec. 31,
2024$2,203 
20252,203 
20262,203 
20272,203 
20282,203 
Thereafter8,863 
Total minimum lease payments19,878 
Less: amount representing interest6,907 
Present value of net minimum finance lease payments$12,971 
Current liabilities$925 
Non-current liabilities$12,046 
The principal amounts payable under the finance lease agreement for each year through 2028 and thereafter are as follows:

(THOUSANDS)
For the year ending Dec. 31,
2024$925 
2025$1,023 
2026$1,133 
2027$1,253 
2028$1,388 
Thereafter$7,249