EX-99 2 a17004991.htm Power Point Presentation

 

 

Appendices: Reg G Reconciliatons

Appendix 1: Earnings

1999-2004 Guidance - Reconciliation of GAAP vs. Non-GAAP Measures

Guidance

($/share)

1999

2000

2001

2002

2003

TTM 3Q04

2004

AS-REPORTED EARNINGS - CONSOLIDATED

(A)

2.25

2.97

3.23

2.64

4.01

3.07

3.65 - 3.75

AS-REPORTED EARNINGS - NUCLEAR

(B)

0.06

0.22

0.57

0.88

1.30

0.83

1.06 - 1.10

AS-REPORTED EARNINGS - UTILITY, PARENT & OTHER

(C)

1.89

2.51

2.19

2.40

1.93

2.31

2.70 - 2.75

UTILITY SPECIAL ITEMS

  River Bend loss provision

-

-

-

-

(0.29)

-

-

  SFAS 143 implementation

-

-

-

-

(0.09)

-

-

  Voluntary severance plan

-

-

-

-

(0.30)

(0.30)

-

  Merger expenses

-

-

(0.01)

-

-

-

-

  Regulatory and reserve adjustments

(0.27)

(0.09)

-

-

-

-

-

  Change in unbilled revenue estimate

0.13

-

-

-

-

-

-

  Depreciation adjustment

0.04

-

-

-

-

-

-

  SERI refund adjustments

(0.08)

-

-

-

-

-

-

Total Utility Special Items

(D)

(0.18)

(0.09)

(0.01)

-

(0.68)

(0.30)

-

PARENT & OTHER SPECIAL ITEMS

  Voluntary severance plan

-

-

-

-

(0.01)

-

-

  Merger expenses

-

-

(0.05)

-

-

-

-

  Write-down of MyHomeKey investment

-

-

(0.03)

-

-

-

-

  Write-down of Latin American assets

-

(0.12)

-

-

-

-

-

Total Parent & Other Special Items

(E)

-

(0.12)

(0.08)

-

(0.01)

-

-

COMPETITIVE BUSINESS SPECIAL ITEMS

  Entergy Nuclear

    SFAS 143 implementation

-

-

-

-

0.67

(0.03)

-

    Voluntary severance plan

-

-

-

-

(0.22)

(0.22)

-

Total Nuclear Special Items

(F)

-

-

-

-

0.45

(0.25)

-

  Energy Commodity Services

-

-

-

-

-

-

-

    Gain (loss) on disposition of assets

0.27

0.06

0.01

0.23

-

-

-

    Asset and contract impairments

-

-

-

(0.62)

-

-

-

    Turbine commitment

-

-

-

(0.52)

-

-

-

    Development costs

-

-

-

(0.09)

-

-

-

    Restructuring costs

-

-

(0.02)

(0.17)

-

-

-

    Damhead Creek mark to market gas contract

-

-

0.10

-

-

-

-

    Write-off of start-up costs per new acct standard

(0.01)

-

-

-

-

-

-

    Earnings from Entergy-Koch Trading

-

-

-

-

-

(0.14)

(0.14)

    Earnings from Gulf South Pipeline

0.07

0.07

    Non-nuclear wholesale assets - adjustment to sales reserves

0.02

0.02

  Total Competitive Business Special Items

0.26

0.06

0.09

(1.17)

0.45

(0.05)

(0.05)

  TOTAL SPECIAL ITEMS

(G)

0.08

(0.15)

-

(1.17)

(0.24)

(0.60)

(0.05)

OPERATIONAL EARNINGS - CONSOLIDATED

(A-G)

2.17

3.12

3.23

3.81

4.25

3.67

3.70 - 3.80

OPERATIONAL EARNINGS - NUCLEAR

(B-F)

0.06

0.22

0.57

0.88

0.85

1.08

1.06 - 1.10

OPERATIONAL EARNINGS - UTILITY, PARENT & OTHER

(C-D-E)

2.07

2.72

2.28

2.40

2.62

2.61

2.70 - 2.75

 

 

Appendices: Reg G Reconciliatons

Appendix 2: Earnings

1999-2004 - Reconciliation of GAAP vs. Non-GAAP Measures

($ millions)

1999

2000

2001

2002

2003

TTM 3Q04

AS-REPORTED EARNINGS (A)

552

679

726

599

927

715

  Preferred Dividends

43

32

24

24

24

23

  Tax Effected Interest Expense

338

332

440

353

332

292

AS-REPORTED EARNINGS (including preferred dividends & tax effected
   interest expense) (B)

933

1042

1191

976

1262

1031

UTILITY SPECIAL ITEMS

  River Bend loss provision

-

-

-

-

-66

  SFAS 143 implementation

-

-

-

-

-21

  Voluntary severance plan

-

-

-

-

-70

-70

  Merger expenses

-

-

-2

-

-

  Regulatory and reserve adjustments

-65

-22

-

-

-

  Change in unbilled revenue estimate

32

-

-

-

-

  Depreciation adjustment

11

-

-

-

-

  SERI refund adjustments

-20

-

-

-

-

Total Utility Special Items (C)

-42

-22

-2

-

-157

-70

PARENT & OTHER SPECIAL ITEMS

  Voluntary severance plan

-

-

-

-

-1

-

  Merger expenses

-

-

-12

-

-

-

  Write-down of MyHomeKey investment

-

-

-7

-

-

-

  Write-down of Latin American assets

-

-28

-

-

-

-

Total Parent & Other Special Items

-

-28

-19

-

-1

-

COMPETITIVE BUSINESS SPECIAL ITEMS

  Entergy Nuclear

    SFAS 143 implementation

-

-

-

-

154

-6

    Voluntary severance plan

-

-

-

-

-52

-52

  Energy Commodity Services

-

-

-

-

-

-

    Gain (loss) on disposition of assets

68

13

1

52

1

-

    Asset and contract impairments

-

-

-

-142

-

-

    Turbine commitment

-

-

-

-117

-

-

    Development costs

-

-

-

-21

-

-

    Restructuring costs

-

-

-4

-39

-

-

    Damhead Creek mark to market gas contract

-

-

24

-

-

-

    Write-off of start-up costs per new acct standard

-3

-

-

-

-

-

    Earnings from Entergy-Koch Trading

-32

    Earnings from Gulf South Pipeline

15

    Non-nuclear wholesale assets - adjustment to sales reserves

6

Total Competitive Business Special Items

65

13

21

-267

103

-69

TOTAL SPECIAL ITEMS (D)

23

-36

1

-267

-55

-139

OPERATIONAL EARNINGS (A-D)

530

715

726

866

982

854

 

Appendices: Reg G Reconciliatons

 

Appendix 3: Return Metrics and Net Margin (refer to Appendix 2 for A-D statistics)

1999-2004 - Reconciliation of GAAP vs. Non-GAAP Measures

($ millions)

1999

2000

2001

2002

2003

TTM 3Q04

OPERATIONAL EARNINGS (including preferred dividends & tax effected interest
  expense) (B-D)

910

1,078

1,190

1,243

1,317

1,170

AVERAGE INVESTED CAPITAL (E)

15,364

15,883

16,640

16,862

17,114

17,462

AS-REPORTED ROIC (B)/E

6.1%

6.6%

7.2%

5.8%

7.4%

5.9%

OPERATIONAL ROIC (B-D)/E

5.9%

6.8%

7.2%

7.4%

7.7%

6.7%

OPERATING REVENUES (F)

8,766

10,022

9,621

8,305

9,195

9,803

AS-REPORTED NET MARGIN (A/F)

6.3%

6.8%

7.5%

7.2%

10.1%

7.3%

OPERATIONAL NET MARGIN (A-D/F)

6.0%

7.1%

7.5%

10.4%

10.7%

8.7%

UTILITY AS-REPORTED EARNINGS (G)

511

587

550

583

469

UTILITY OPERATIONAL EARNINGS (G-C)

553

609

552

583

626

UTILITY - AVERAGE SHAREHOLDER'S EQUITY (excluding preferred stock without
   sinking fund) (H)

5,168

5,299

5,490

5,470

5,422

UTILITY AS-REPORTED ROE (G)/H

9.9%

11.1%

10.0%

10.7%

8.7%

UTILITY OPERATIONAL ROE (G-C)/H

10.7%

11.5%

10.1%

10.7%

11.5%