Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024, 2023, and 2022:

	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2024		2023		2022
Operating revenue, net
Electric operations	$	207,555	$	543,519	$	496,042
Other operations	50,992		125,816		148,823
Operating revenue, net	258,547		669,335		644,865
Operating expenses
Fuel used for electric generation	21,061		126,130		169,195
Purchased power	93,074		230,284		380,233
Other operations and maintenance	37,685		87,599		70,611
Depreciation and amortization	4,336		15,891		69,999
Taxes other than income taxes	—		13,160		12,330
Total operating expenses	156,156		473,064		702,368
Operating income (loss)	102,391		196,271		(57,503)
Other income, net	240		47		127
Interest, net	1,396		(6,919)		(6,079)
Loss - Cleco Cajun Divestiture(1)	(43,715)		(173,000)		—
Income (loss) from discontinued operations before income taxes	60,312		16,399		(63,455)
Federal and state income tax expense (benefit)	14,795		1,757		(19,118)
Income (loss) from discontinued operations, net of income taxes	$	45,517	$	14,642	$	(44,337)

(1) This represents the loss on the classification as held for sale until the closing of the Cleco Cajun Divestiture. After the closing of the Cleco Cajun Divestiture, this represents the loss on the sale of the Cleco Cajun Sale Group.

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

(THOUSANDS)	AT DEC. 31, 2023
Cash, cash equivalents, and restricted cash equivalents	$	4,100
Accounts receivable	70,001
Fuel inventory, at average cost	47,243
Materials and supplies, at average cost	36,283
Energy risk management assets	1,066
Property, plant, and equipment, net	648,676
Prepayments	18,587
Intangible assets - other	32,569
Other assets	20,207
Accumulated loss recognized on classification as held for sale	(173,000)
Total assets held for sale - discontinued operations	$	705,732
Accounts payable	$	30,442
Deferred lease revenue	19,945
Intangible liabilities	12,695
Asset retirement obligations	46,165
Other liabilities	5,705
Total liabilities held for sale - discontinued operations	$	114,952

The following table presents the cash flows from discontinued operations related to the Cleco Cajun Sale Group for the years ended December 31, 2024, 2023, and 2022:

	FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)	2024		2023		2022
Net cash (used in) provided by operating activities - discontinued operations	$	(822)	$	8,778	$	6,878
Net cash used in investing activities - discontinued operations	$	(3,278)	$	(8,745)	$	(6,867)