XML 52 R37.htm IDEA: XBRL DOCUMENT v3.25.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2025
Restricted Cash and Cash Equivalent Item [Line Items]  
Schedule of Revisions Previously Issued Financial Statements
A summary of the revisions to the comparative periods presented in this Quarterly Report on Form 10-Q is shown below.
CLECOCLECO POWER
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024
(THOUSANDS)AS REPORTED
REVISION
AS REVISED
AS REPORTED
REVISION
AS REVISED
Unearned compensation expense$5,875 $23,588 $29,463 $1,236 $13,101 $14,337 
Accounts receivable$1,612 $4,896 $6,508 $(17,405)$4,896 $(12,509)
Customer deposits$5,768 $(4,896)$872 $5,768 $(4,896)$872 
Other deferred accounts(1)
$(10,824)$(9,623)$(20,447)$(5,128)$(9,082)$(14,210)
Accounts payable(2)
$(30,560)$(18,514)$(49,074)$(20,575)$(10,540)$(31,115)
Taxes accrued$60,424 $526 $60,950 $23,473 $81 $23,554 
Other operating(3)
$(12,684)$(3,398)$(16,082)$(2,030)$(981)$(3,011)
Net cash provided by operating activities$265,136 $(7,421)$257,715 $248,855 $(7,421)$241,434 
Additions to property, plant, and equipment$(172,513)$(18,163)$(190,676)$(168,528)$(18,163)$(186,691)
Customer advances for construction$— $17,834 $17,834 $— $17,834 $17,834 
Net cash provided by (used in) investing activities
$293,291 $(329)$292,962 $(166,493)$(329)$(166,822)
Credit deposits$— $7,750 $7,750 $— $7,750 $7,750 
Net cash used in financing activities$(439,911)$7,750 $(432,161)$(85,706)$7,750 $(77,956)
Accrued additions to property, plant, and equipment$4,488 $3,044 $7,532 $4,486 $3,044 $7,530 
Amounts presented as revised differ from those in Part I, Item 1, “Condensed Consolidated Financial Statements (Unaudited) — Cleco — Condensed Consolidated Statements of Cash Flows (Unaudited)” and “— Cleco Power — Condensed Consolidated Statements of Cash Flows (Unaudited)” due to the following:
(1) For Cleco and Cleco Power, includes $15.4 million previously reported in Other deferred accounts that was reclassified to Storm reserves.
(2) For Cleco, includes $26.2 million that was reclassified to Incentive compensation payable. For Cleco Power, includes $7.9 million that was reclassified to Incentive compensation payable.
(3) For Cleco, includes $8.2 million that was reclassified to Incentive compensation payable. For Cleco Power, includes $1.5 million that was reclassified to Incentive compensation payable and $0.2 million that was reclassified to Prepayments.
Schedule of Restricted Cash and Cash Equivalents
Cleco’s and Cleco Power’s restricted cash and cash equivalents consisted of the following:
Cleco
(THOUSANDS)AT SEPT. 30, 2025AT DEC. 31, 2024
Current
Cleco Securitization I and Cleco Securitization II operating expenses and debt service
$19,748 $15,918 
Cleco Securitization II energy transition costs
10,620 — 
Total current30,368 15,918 
Non-current
Cleco Securitization II energy transition costs
31,919 1 
Diversified Lands’ mitigation escrow25 24 
Cleco Power’s future storm restoration costs107,904 116,468 
Total non-current139,848 116,493 
Total restricted cash and cash equivalents$170,216 $132,411 
Schedule of Changes in Allowance for Credit Losses, Other
The tables below present the changes in the allowance for credit losses by receivable for Cleco and Cleco Power:
Cleco
FOR THE THREE MONTHS ENDED SEPT. 30, 2025FOR THE NINE MONTHS ENDED SEPT. 30, 2025
(THOUSANDS)ACCOUNTS
RECEIVABLE
OTHER
TOTALACCOUNTS
RECEIVABLE
OTHER
TOTAL
Balances, beginning of period
$845 $1,638 $2,483 $1,337 $1,638 $2,975 
Current period provision1,026 — 1,026 1,407 — 1,407 
Charge-offs(752)— (752)(2,102)— (2,102)
Recovery236 — 236 713 — 713 
Balances, Sept. 30, 2025$1,355 $1,638 $2,993 $1,355 $1,638 $2,993 
FOR THE THREE MONTHS ENDED SEPT. 30, 2024FOR THE NINE MONTHS ENDED SEPT. 30, 2024
(THOUSANDS)ACCOUNTS
RECEIVABLE
OTHER
TOTALACCOUNTS
RECEIVABLE
OTHER
TOTAL
Balances, beginning of period
$1,368 $1,638 $3,006 $3,012 $1,638 $4,650 
Current period provision401 — 401 911 — 911 
Charge-offs(854)— (854)(3,614)— (3,614)
Recovery217 — 217 823 — 823 
Balances, Sept. 30, 2024$1,132 $1,638 $2,770 $1,132 $1,638 $2,770 
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
FOR THE THREE MONTHS ENDED SEPT. 30, 2025FOR THE NINE MONTHS ENDED SEPT. 30, 2025
(THOUSANDS)ACCOUNTS
RECEIVABLE
OTHER
TOTALACCOUNTS
RECEIVABLE
OTHER
TOTAL
Balances, beginning of period
$845 $1,638 $2,483 $1,337 $1,638 $2,975 
Current period provision1,026 — 1,026 1,407 — 1,407 
Charge-offs(752)— (752)(2,102)— (2,102)
Recovery236 — 236 713 — 713 
Balances, Sept. 30, 2025$1,355 $1,638 $2,993 $1,355 $1,638 $2,993 
FOR THE THREE MONTHS ENDED SEPT. 30, 2024FOR THE NINE MONTHS ENDED SEPT. 30, 2024
(THOUSANDS)ACCOUNTS
RECEIVABLE
OTHER
TOTALACCOUNTS
RECEIVABLE
OTHER
TOTAL
Balances, beginning of period
$1,368 $1,638 $3,006 $3,012 $1,638 $4,650 
Current period provision401 — 401 911 — 911 
Charge-offs(854)— (854)(3,614)— (3,614)
Recovery217 — 217 823 — 823 
Balances, Sept. 30, 2024$1,132 $1,638 $2,770 $1,132 $1,638 $2,770 
CLECO POWER  
Restricted Cash and Cash Equivalent Item [Line Items]  
Schedule of Restricted Cash and Cash Equivalents
Cleco Power
(THOUSANDS)AT SEPT. 30, 2025AT DEC. 31, 2024
Current
Cleco Securitization I and Cleco Securitization II operating expenses and debt service
$19,748 $15,918 
Cleco Securitization II energy transition costs
10,620 — 
Total current30,368 15,918 
Non-current
Cleco Securitization II energy transition costs
31,919 1 
Future storm restoration costs107,904 116,468 
Total non-current139,823 116,469 
Total restricted cash and cash equivalents$170,191 $132,387 
Schedule of Changes in Allowance for Credit Losses, Accounts Receivable
Cleco Power
FOR THE THREE MONTHS ENDED SEPT. 30, 2025
FOR THE NINE MONTHS ENDED SEPT. 30, 2025
(THOUSANDS)ACCOUNTS RECEIVABLE
Balances, beginning of period
$845 $1,337 
Current period provision1,026 1,407 
Charge-offs(752)(2,102)
Recovery236 713 
Balances, Sept. 30, 2025$1,355 $1,355 

FOR THE THREE MONTHS ENDED SEPT. 30, 2024
FOR THE NINE MONTHS ENDED SEPT. 30, 2024
(THOUSANDS)ACCOUNTS RECEIVABLE
Balances, beginning of period
$1,368 $3,012 
Current period provision401 911 
Charge-offs(854)(3,614)
Recovery217 823 
Balances, Sept. 30, 2024$1,132 $1,132