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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Amortization of Computer Software

Amortization of capitalized computer software costs charged to expense in Cleco’s and Cleco Power’s Consolidated Statements of Income for the years ending December 31, 2024, 2023, and 2022 is shown in the following tables:


Cleco
	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2024		2023		2022
Amortization	$	19,981	$	11,092	$	11,881

The following table presents the amortization expense recognized of other intangible assets in Cleco’s Consolidated Statements of Income:


Cleco
	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2024		2023		2022
Amortization expense


Power supply agreement	$	2,881	$	9,454	$	9,680

Schedule of Property, Plant, and Equipment

Depreciation on property, plant, and equipment is calculated primarily on a straight-line basis over the useful lives of the assets. The following table presents the useful lives of depreciable assets for Cleco and Cleco Power:


CATEGORY (YEARS)	YEARS
Utility Plants
Generation	10	–	55
Distribution	15	–	50
Transmission	5	–	55
Other utility plant	5	–	45
Other property, plant, and equipment	5	–	45

At December 31, 2024, and 2023, Cleco’s and Cleco Power’s property, plant, and equipment consisted of the following:


Cleco
	AT DEC. 31,
(THOUSANDS)	2024		2023
Utility plants
Generation	$	1,914,812	$	1,944,260
Distribution	1,693,668		1,585,742
Transmission	878,833		844,897
Other utility plant	490,975		454,329
Other property, plant, and equipment	13,286		9,766
Total property, plant, and equipment	4,991,574		4,838,994
Accumulated depreciation	(1,050,376)		(924,624)
Net property, plant, and equipment	$	3,941,198	$	3,914,370

The plant acquisition adjustment and accumulated amortization are reported in Property, plant, and equipment and Accumulated depreciation, respectively, on Cleco’s and Cleco Power’s Consolidated Balance Sheets at December 31, 2024, and 2023, and are shown in the following tables:


Cleco
	AT DEC. 31,
(THOUSANDS)	2024		2023
Acadia Unit 1
Plant acquisition adjustment	$	76,116	$	76,116
Accumulated amortization	(27,749)		(24,566)
Net plant acquisition adjustment	$	48,367	$	51,550

Schedule of Changes in Allowance for Credit Losses, Accounts Receivable

The tables below present the changes in the allowance for credit losses by receivable for Cleco and Cleco Power:


Cleco
(THOUSANDS)	ACCOUNTS RECEIVABLE		OTHER		TOTAL
Balances, Dec. 31, 2022	$	1,147	$	1,638	$	2,785

Current period provision	5,506		—		5,506
Charge-offs	(4,939)		—		(4,939)
Recovery	1,298		—		1,298
Balances, Dec. 31, 2023	3,012		1,638		4,650

Current period provision	2,048		—		2,048
Charge-offs	(4,815)		—		(4,815)
Recovery	1,092		—		1,092
Balances, Dec. 31, 2024	$	1,337	$	1,638	$	2,975

Schedule of Restricted Cash and Cash Equivalents

Cleco’s and Cleco Power’s restricted cash and cash equivalents consisted of the following:


Cleco
	AT DEC. 31,
(THOUSANDS)	2024		2023
Current

Cleco Securitization I operating expenses and storm recovery bond issuance costs and debt service	$	15,918	$	15,818
Total current	15,918		15,818
Non-current
Cleco Securitization II operating expenses	1		—
Diversified Lands’ mitigation escrow	24		24
Cleco Power’s future storm restoration costs	116,468		113,549


Total non-current	116,493		113,573
Total restricted cash and cash equivalents	$	132,411	$	129,391

Schedule of Composite AFUDC Rates and Capitalized Interest Rates

The following tables show the composite AFUDC rates, including borrowed and other funds for the years ended December 31, 2024, 2023, and 2022:


							FOR THE YEAR ENDED DEC. 31,
	2024				2023				2022
	PRETAX BASIS		NET OF TAX		PRETAX BASIS		NET OF TAX		PRETAX BASIS		NET OF TAX
AFUDC composite rate	8.65	%	7.62	%	8.11	%	6.50	%	9.06	%	7.09	%

CLECO POWER

Accounting Policies [Line Items]