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Pension Plan and Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2024

The components of net periodic pension and Other Benefits cost for the three months ended March 31, 2024, and 2023 were as follows:


	PENSION BENEFITS				OTHER BENEFITS
	FOR THE THREE MONTHS ENDED MAR. 31,				FOR THE THREE MONTHS ENDED MAR. 31,
(THOUSANDS)	2024		2023		2024		2023
Components of periodic benefit costs
Service cost	$	1,189	$	1,173	$	479	$	365
Interest cost	6,535		6,606		583		566
Expected return on plan assets	(7,607)		(7,386)		—		—
Amortizations

Net loss (gain)	—		—		164		(13)
Net periodic benefit cost	$	117	$	393	$	1,226	$	918

The components of the net periodic benefit cost related to SERP for the three months ended March 31, 2024, and 2023, were as follows:


	FOR THE THREE MONTHS ENDED MAR. 31,
(THOUSANDS)	2024		2023
Components of periodic benefit costs
Service cost	$	34	$	35
Interest cost	836		901
Amortizations
Prior period service credit	(54)		(54)
Net gain	(21)		(15)
Net periodic benefit cost	$	795	$	867

The current and non-current portions of the pension benefits liability for Cleco and Cleco Power at December 31, 2023, and 2022 are as follows:

The current and non-current portions of the Other Benefits liability for Cleco and

Cleco Power at March 31, 2024, and December 31, 2023, were as follows:

The current and non-current portions of the SERP liability for Cleco and Cleco Power at March 31, 2024, and December 31, 2023, were as follows:

Cleco’s 401(k) Plan

expense for the three months ended March 31, 2024, and 2023, was as follows:


	FOR THE THREE MONTHS ENDED MAR. 31,
(THOUSANDS)	2024		2023
401(k) Plan expense	$	3,075	$	2,154

The expense of the 401(k) Plan related to Cleco’s other subsidiaries for the three months ended March 31, 2024, and 2023, was as follows:


	FOR THE THREE MONTHS ENDED MAR. 31,
(THOUSANDS)	2024		2023
401(k) Plan expense	$	1,601	$	902