CLECO CORPORATE HOLDINGS LLC Financial Statements (2024 and earlier)
Company Profile
Business Address |
2030 DONAHUE FERRY ROAD PINEVILLE, LA 71360-5226 |
State of Incorp. | LA |
Fiscal Year End | December 31 |
Industry (SIC) | 4911 - Electric Services (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 58 | 149 | 85 | 116 | 110 | 119 | |||
Cash and cash equivalents | 58 | 149 | 85 | 116 | 110 | 119 | |||
Restricted cash and investments | 24 | 2 | 5 | 11 | 11 | 13 | |||
Receivables | 229 | 161 | 155 | 153 | 113 | 127 | |||
Inventory, net of allowances, customer advances and progress billings | 90 | 69 | 109 | 83 | 83 | 88 | |||
Inventory | 90 | 69 | 109 | 83 | 83 | 88 | |||
Prepaid expense | 17 | 13 | 15 | 8 | 8 | 9 | |||
Deferred costs | 58 | 57 | 28 | 23 | 20 | 14 | |||
Derivative instruments and hedges, assets | 50 | 43 | 13 | 7 | 23 | 7 | |||
Regulatory asset | 47 | 29 | 21 | 20 | 22 | 25 | |||
Disposal group, including discontinued operation | |||||||||
Other current assets | 7 | 13 | 13 | 13 | 1 | 1 | |||
Other undisclosed current assets | 204 | 232 | 222 | 205 | 173 | 169 | |||
Total current assets: | 784 | 768 | 665 | 638 | 565 | 572 | |||
Noncurrent Assets | |||||||||
Finance lease, right-of-use asset, after accumulated amortization | 11 | ✕ | ✕ | ||||||
Operating lease, right-of-use asset | 23 | 24 | 26 | 29 | ✕ | ✕ | |||
Property, plant and equipment | 4,615 | 4,816 | 4,790 | 4,645 | 3,779 | 3,589 | |||
Long-term investments and receivables | 15 | 16 | 24 | 32 | 34 | 18 | |||
Long-term investments | 2 | 2 | 9 | 17 | 18 | 18 | |||
Accounts and financing receivable, after allowance for credit loss | 13 | 14 | 15 | 15 | 16 | ||||
Intangible assets, net (including goodwill) | 1,491 | 1,573 | 1,603 | 1,629 | 1,575 | 1,606 | |||
Goodwill | 1,491 | 1,491 | 1,491 | 1,491 | 1,491 | 1,491 | |||
Intangible assets, net (excluding goodwill) | 82 | 112 | 138 | 84 | 115 | ||||
Prepaid expense | 25 | 22 | 23 | 26 | 2 | 2 | |||
Derivative instruments and hedges | 59 | 51 | |||||||
Regulated entity, other noncurrent assets | 612 | 811 | 555 | 422 | 425 | 432 | |||
Restricted cash and investments | 110 | 1 | 1 | 15 | 19 | 20 | |||
Disposal group, including discontinued operation, noncurrent assets | |||||||||
Other noncurrent assets | 42 | 44 | 40 | 40 | 38 | 35 | |||
Other undisclosed noncurrent assets | 467 | 4 | |||||||
Total noncurrent assets: | 7,470 | 7,357 | 7,061 | 6,838 | 5,872 | 5,707 | |||
TOTAL ASSETS: | 8,254 | 8,125 | 7,726 | 7,476 | 6,437 | 6,278 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 235 | 189 | 184 | 187 | 216 | 185 | |||
Interest and dividends payable | ✕ | ✕ | 15 | 16 | 19 | 16 | 15 | ||
Taxes payable | ✕ | ✕ | 6 | 8 | 9 | 44 | 23 | ||
Accounts payable | 192 | 168 | 161 | 159 | 157 | 148 | |||
Accrued liabilities | 43 | ||||||||
Deferred revenue | 58 | 61 | 59 | 58 | ✕ | ✕ | |||
Debt | 450 | 93 | 142 | 4 | 21 | 19 | |||
Deferred compensation liability | 12 | 14 | 13 | 12 | 11 | 12 | |||
Derivative instruments and hedges, liabilities | 9 | 1 | 2 | 4 | 0 | 0 | |||
Regulatory liability | 43 | 44 | 24 | 7 | 2 | ||||
Disposal group, including discontinued operation | |||||||||
Customer refund liability | 3 | 6 | 9 | 39 | 36 | 4 | |||
Due to related parties | ✕ | 13 | 51 | 41 | 34 | ||||
Customer advances and deposits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 59 | ||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 62 | ✕ | ||
Other liabilities | 40 | 53 | 50 | 45 | 31 | 18 | |||
Other undisclosed current liabilities | 9 | 122 | 3 | ||||||
Total current liabilities: | 873 | 513 | 525 | 511 | 379 | 300 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation, including: | 3,139 | 3,390 | 3,165 | 15 | 2,874 | 2,836 | |||
Finance lease, liability | 13 | 14 | 15 | 15 | ✕ | ✕ | |||
Other undisclosed long-term debt and lease obligation | 3,126 | 3,355 | 3,127 | 2,874 | 2,836 | ||||
Liabilities, other than long-term debt, including: | 1,149 | 1,145 | 1,033 | 1,257 | 1,059 | 1,046 | |||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2 | ||
Deferred revenue | ✕ | ✕ | |||||||
Accumulated deferred investment tax credit | 2 | ✕ | |||||||
Asset retirement obligations | 74 | 70 | 28 | 23 | |||||
Deferred income tax liabilities | 820 | 756 | 661 | 657 | ✕ | ✕ | |||
Liability, pension and other postretirement and postemployment benefits | 201 | 292 | 315 | 283 | 249 | 242 | |||
Disposal group, including discontinued operation, liabilities | |||||||||
Other liabilities | 35 | 28 | 29 | 27 | 26 | 32 | |||
Operating lease, liability | 20 | 21 | 23 | ✕ | ✕ | ||||
Other undisclosed liabilities, other than long-term debt | 267 | 782 | 770 | ||||||
Other undisclosed noncurrent liabilities | 146 | 123 | 246 | 3,049 | |||||
Total noncurrent liabilities: | 4,434 | 4,658 | 4,444 | 4,322 | 3,933 | 3,882 | |||
Total liabilities: | 5,307 | 5,171 | 4,969 | 4,833 | 4,312 | 4,182 | |||
Equity | |||||||||
Equity, attributable to parent | 55 | 27 | |||||||
Accumulated other comprehensive income (loss) | 2 | (3) | |||||||
Retained earnings | 54 | 30 | |||||||
Other undisclosed equity | 2,947 | 2,954 | 2,757 | 2,643 | 2,069 | 2,069 | |||
Total equity: | 2,947 | 2,954 | 2,757 | 2,643 | 2,125 | 2,096 | |||
TOTAL LIABILITIES AND EQUITY: | 8,254 | 8,125 | 7,726 | 7,476 | 6,437 | 6,278 |
Income Statement (P&L) ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Revenues | 2,239 | 1,746 | 1,498 | 1,640 | 1,231 | |||
Cost of revenue (Provision for Loan, Lease, and Other Losses) | (0) | |||||||
Gross profit: | 2,239 | 1,746 | 1,498 | 1,640 | 1,231 | |||
Operating expenses | (1,897) | (1,401) | (1,193) | (1,325) | (7) | (10) | ||
Other undisclosed operating income | 0 | |||||||
Operating income (loss): | 342 | 345 | 305 | 315 | 1,224 | (10) | ||
Nonoperating income (expense) | (1) | (2) | (9) | 22 | ||||
Investment income, nonoperating | 6 | 3 | 4 | 6 | ||||
Public utilities, allowance for funds used during construction, capitalized cost of equity | 4 | 10 | 1 | 15 | ||||
Other nonoperating income (expense) | (11) | (16) | (14) | 1 | ||||
Interest and debt expense | (151) | (134) | (138) | (141) | ||||
Income (loss) from continuing operations before income taxes: | 190 | 208 | 158 | 196 | 1,224 | (10) | ||
Income tax expense (benefit) | (1) | (13) | (36) | (43) | ||||
Income (loss) from continuing operations: | 189 | 195 | 122 | 153 | 1,224 | (10) | ||
Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 195 | 122 | 153 | 1,224 | (10) | |
Loss from discontinued operations | ||||||||
Net income (loss) available to common stockholders, diluted: | 189 | 195 | 122 | 153 | 1,224 | (10) |
Comprehensive Income ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Net income (loss): | 189 | 195 | 122 | 153 | 1,224 | (10) | ||
Other comprehensive income (loss) | 24 | 2 | (8) | (19) | ||||
Comprehensive income (loss), net of tax, attributable to parent: | 212 | 197 | 114 | 133 | 1,224 | (10) |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.