-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FjmixQG8FsAUroS1I/LOyfH8X/ZDkW4KbbkABTrWXutmYy7wCzM/HISt8JiYIrih rjEdqaj/6gajnQ19Wf8FvA== 0000065984-09-000179.txt : 20090904 0000065984-09-000179.hdr.sgml : 20090904 20090904151057 ACCESSION NUMBER: 0000065984-09-000179 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 29 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090904 DATE AS OF CHANGE: 20090904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY CORP /DE/ CENTRAL INDEX KEY: 0000065984 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 721229752 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-11299 FILM NUMBER: 091056047 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045764000 MAIL ADDRESS: STREET 1: PO BOX 61000 CITY: NEW ORLEANS STATE: LA ZIP: 70161 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY CORP /FL/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY GSU HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH UTILITIES INC DATE OF NAME CHANGE: 19890521 10-Q/A 1 a04509.htm FORM 10-Q/A FOR THE 2ND QUARTER OF 2009 a04509.htm
__________________________________________________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q/A
Amendment No. 1

(Mark One)
  
X
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
   
 
For the Quarterly Period Ended June 30, 2009
 
OR
 
TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
 
For the transition period from ____________ to ____________

 
Commission
File Number
Registrant, State of Incorporation or Organization,
Address of Principal Executive Offices, Telephone
Number, and IRS Employer Identification No.
  
1-11299
ENTERGY CORPORATION
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 576-4000
72-1229752
  
     

__________________________________________________________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit and post such files).  Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Securities Exchange Act of 1934.

 
Large
accelerated
filer
  
 
Accelerated
filer
  
Non-
accelerated
filer
    
Smaller
reporting
company
Entergy Corporation
Ö
              

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes o  No þ

Common Stock Outstanding
  
Outstanding at July 31, 2009
Entergy Corporation
($0.01 par value)
195,792,216

 

 
EXPLANATORY NOTE

This Amendment No.1 to the Quarterly Report on Form 10-Q of Entergy Corporation for the quarter ended June 30, 2009 (the "Form 10-Q") is being filed solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405(a)(2) of Regulation S-T.

 
Exhibit 101 to this report provides the following items from the Form 10-Q of Entergy Corporation formatted in eXtensible Business Reporting Language: (i) the unaudited Consolidated Statements of Income; (ii) the unaudited Consolidated Statements of Cash Flows; (iii) the unaudited Consolidated Balance Sheets; (iv) the unaudited Consolidated Statements of Retained Earnings, Comprehensive Income, and Paid-in Capital; and (v) the unaudited Notes to Financial Statements, tagged as blocks of text.  No changes are being made to any other portion of the Form 10-Q as originally filed on August 7, 2009.

Users of this data are advised that pursuant to Rule 406T of Regulation S-T, these interactive data files shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


 
1
 

PART II. OTHER INFORMATION


Item 6.  Exhibits *

 
4(a) -
Officer's Certificate No. 2-B-2 dated May 14, 2009 supplemented to the Entergy Texas, Inc. Indenture of Trust and Security Agreement dated as of October 1, 2008, establishing the form and certain terms of the Mortgage Bonds, 7.875% Series due June 1, 2039.**
     
 
4(b) -
Twenty-sixth Supplemental Indenture, dated as of June 1, 2009, to the Entergy Mississippi, Inc. Mortgage and Deed of Trust, dated as of February 1, 1988.**
     
 
31(a) -
Rule 13a-14(a)/15d-14(a) Certification for Entergy Corporation.**
     
 
31(b) -
Rule 13a-14(a)/15d-14(a) Certification for Entergy Corporation.**
     
 
32(a) -
Section 1350 Certification for Entergy Corporation.**
     
 
32(b) -
Section 1350 Certification for Entergy Corporation.**
     
 
101 INS -
XBRL Instance Document.***
     
 
101 SCH -
XBRL Taxonomy Extension Schema Document.***
     
 
101 PRE -
XBRL Taxonomy Presentation Linkbase Document.***
     
 
101 LAB -
XBRL Taxonomy Label Linkbase Document.***
     
 
101 CAL -
XBRL Taxonomy Calculation Linkbase Document.***
     
 
101 DEF -
XBRL Definition Linkbase Document.***
     

___________________________


*
Reference is made to a duplicate list of exhibits being filed as a part of this report on Form 10-Q/A for the quarter ended June 30, 2009, which list, prepared in accordance with Item 102 of Regulation S-T of the SEC, immediately precedes the exhibits being filed with this report on Form 10-Q/A for the quarter ended June 30, 2009.
   
**
Previously filed.
   
***
Furnished herewith.

 
2
 

SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ENTERGY CORPORATION
 
 
 
/s/ Theodore H. Bunting, Jr. 
Theodore H. Bunting, Jr
Senior Vice President and Chief Accounting Officer
(For the Registrant and as
Principal Accounting Officer)


Date:           September 3, 2009







 
3
 






















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LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT Entergy Corporation has in place a credit facility that expires in August 2012 and has a borrowing capacity of $3.5 billion. Entergy Corporation also has the ability to issue letters of credit against the total borrowing capacity of the credit facility. The facility fee is currently 0.09% of the commitment amount. Facility fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate as of June 30, 2009 was 1.597% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of June 30, 2009. Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $2,435 $28 $1,037 Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy Texas each had credit facilities available as of June 30, 2009 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of June 30, 2009 Entergy Arkansas April 2010 $88 million (b) 5.0% -Entergy Gulf States Louisiana August 2012 $100 million (c) 0.785% -Entergy Louisiana August 2012 $200 million (d) 0.72% -Entergy Mississippi May 2010 $35 million (e) 2.06% -Entergy Mississippi May 2010 $25 million (e) 2.06% -Entergy Texas August 2012 $100 million (f) 0.785% - (a) The interest rate is the weighted average interest rate as of June 30, 2009 that would be applied to the outstanding borrowings under the facility.(b) The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization and contains an interest rate floor of 5%. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable.(c) The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. Pursuant to the terms of the credit agreement, the amount of debt assumed by Entergy Texas ($699 million as of June 30, 2009 and $770 million as of December 31, 2008) is excluded from debt and capitalization in calculating the debt ratio.(d) The credi t facility allows Entergy Louisiana to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization.(e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. Entergy Mississippi is required to maintain a consolidated debt ratio of 65% or less of its total capitalization.(f) The credit facility allows Entergy Texas to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. Pursuant to the terms of the credit agreement, the transition bonds issued by Entergy Gulf States Reconstruction Funding I, LLC, a subsidiary of Entergy Texas, are exclude d from debt and capitalization in calculating the debt ratio. The facility fees on the credit facilities range from 0.09% to 0.15% of the commitment amount. The short-term borrowings of the Registrant Subsidiaries and certain other Entergy subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through March 31, 2010 (except Entergy Gulf States Louisiana and Entergy Texas, which are effective through November 8, 2009). In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external borrowings combined may not exceed the FERC-authorized limits. As of June 30, 2009, Entergy's subsidiaries' aggregate money pool and external short-term borrowings authorized limit was $2.2 billion, the aggregate outstanding borrowing from the money pool was $415 million, and Entergy's subsidiaries had no outstanding short-term borrowing from external sources. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries as of June 30, 2009: Authorized Borrowings (In Millions) Entergy Arkansas $250 -Entergy Gulf States Louisiana $200 -Entergy Louisiana $250 -Entergy Mississippi $175 -Entergy New Orleans $100 -Entergy Texas $200 -System Energy (a) $200 - (a) In May 2009, 364-day letters of credit in the aggregate amount of approximately $179 million were issued pursuant to System Energy's short-term borrowing authority to the owner participants in System Energy's 1988 sale and leaseback of interests in Grand Gulf. Entergy Texas Note Payable to Entergy Corporation In December 2008, Entergy Texas borrowed $160 million from its parent company, Entergy Corporation, under a $300 million revolving credit facility pursuant to an Inter-Company Credit Agreement between Entergy Corporation and Entergy Texas. The note had a December 3, 2013 maturity date. Entergy Texas used the proceeds, together with other available corporate funds, to pay at maturity the portion of the $350 million Floating Rate series of First Mortgage Bonds due December 2008 that had been assumed by Entergy Texas, and that bond series is no longer outstanding. In January 2009, Entergy Texas repaid its $160 million note payable to Entergy Corporation with the proceeds from the bond issuance discussed below. Debt Issuances (Entergy Mississippi) In June 2009, Entergy Mississippi issued $150 million of 6.64% Series First Mortgage Bonds due July 2019. Entergy Mississippi used the proceeds to repay outstanding borrowings on its credit facilities, to repay short-term borrowings under the Entergy System money pool, and for other general corporate purposes. (Entergy Texas) In January 2009, Entergy Texas issued $500 million of 7.125% Series Mortgage Bonds due February 2019. Entergy Texas used a portion of the proceeds to repay its $160 million note payable to Entergy Corporation, to repay the $100 million outstanding on its credit facility, to repay short-term borrowings under the Entergy System money pool, and to repay prior to maturity the following obligations that had been assumed by Entergy Texas under the debt assumption agreement with Entergy Gulf States Louisiana: Governmental Bonds share assumed under debt assumption agreement: Amount (In Thousands) 6.75% Series due 2012, Calcasieu Parish $22,1156.7% Series due 2013, Point Coupee Parish $7,9907.0% Series due 2015, West Feliciana Parish $22,4006.6% Series due 2028, West Feliciana Parish $18,320 Entergy Texas used the remaining proceeds for other general corporate purposes. In May 2009, Entergy Texas issued $150 million of 7.875% Series Mortgage Bonds due June 2039. Entergy Texas intends to use the proceeds to repay on or prior to maturity $100,509,000 of the Floating Rate Series Mortgage Bonds due December 2009 that had been assumed by Entergy Texas under the debt assumption agreement with Entergy Gulf States Louisiana and for other general corporate purposes. A portion of the net proceeds were used to repay borrowings from the Entergy System money pool and invested in temporary cash investments and the Entergy System money pool. Fair Value In the second quarter 2009, Entergy adopted FSP FAS 107-1 and APB 28-1, "Interim Disclosures about Fair Value of Financial Instruments" (FSP 107-1 and APB 28-1). FSP 107-1 and APB 28-1 relates to fair value disclosures for all financial instruments not measured on the balance sheet at fair value, and requires these disclosures on a quarterly basis. The book value and the fair value of the long-term debt for Entergy Corporation and the Registrant Subsidiaries as of June 30, 2009 are as follows: Book Value of Long-Term Debt (a) Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $10,101,963 $10,096,781Entergy Arkansas $1,437,814 $1,430,055Entergy Gulf States Louisiana $1,976,642 $1,960,959Entergy Louisiana $1,139,764 $1,170,861Entergy Mississippi $845,267 $834,847Entergy New Orleans $198,019 $188,392Entergy Texas $1,651,379 $1,681,609System Energy $478,074 $445,194 (a) The values exclude lease obligations of $241 million at Entergy Louisiana and $267 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, affiliate notes payable of $74 million at Entergy New Orleans, and the note payable to NYPA of $200 million at Entergy, and include debt due within one year. (b) The fair value is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. 499934000 0 70275000 -21223000 44858000 -53773000 70275000 -21223000 44858000 -53773000 -41000 2247000 -898000 -1889000 -41000 2247000 -898000 -1889000 -639584000 -167307000 0 150000000 -157092000 -218001000 266062000 -555444000 1758000 3501000 -164702000 -162393000 671209000 636813000 206245000 206627000 198243169 197864459 198150768 198101863 -8483000 -4937000 -18294000 -10053000 69203000 24404000 84939000 28060000 true 279663000 -27880000 580593000 70398000 279663000 -27880000 783304000 1800543000 -23906477000 -24573303000 239028000 231115000 1.14 1.37 2.35 2.93 122401000 125942000 256798000 234513000 Yes 0 369612000 249448000 365337000 616591000 585774000 23000000000 10-Q 254772087 248174087 1920491000 1253728000 1280907000 1086421000 2691000 27862000 -1630000 -2808000 622227000 581719000 424076000 465374000 566540000 734204000 196105002 191326928 194359001 191983266 15782000 9085000 32730000 18371000 49307000 46816000 98050000 92812000 0000065984 Yes 0 0 -4921000 0 -3139000 127856000 -535949000 -72802000 -129603000 -147452000 -80403000 -75210000 -318115000 -302303000 1566268000 1712761000 69139000 7307000 0.75 0.75 1.5 1.5 2520789000 3264271000 5309901000 6129005000 1918446000 2524222000 3945363000 4570449000 --12-31 Entergy Corp 74927000 -7901000 38950000 -34531000 468513000 579703000 146555000 143669000 288645000 288038000 -37043000 -48799000 -8766474000 -7966592000 -949758000 -1475745000 799180000 776170000 -14723000 3916000 -24895000 -7640000 58892000 47803000 105278000 105740000 474496000 568109000 981023000 1174342000 NOTE 1. COMMITMENTS AND CONTINGENCIES Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. Employment Litigation The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these suits and proceedings and deny liability to the claimants. Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. Subsequent Events Entergy evaluated events of which its management was aware subsequent to June 30, 2009, through the date that this quarterly report was issued, August 7, 2009. -14567000 -160474000 42619000 -259574000 7482329000 6900345000 7382719000 6735965000 7562587000 7027630000 208544000 -191306000 120830000 -12540000 184816000 -476586000 -233089000 -111281000 -232232000 -107145000 -233130000 -109034000 -36184000 89061000 -4402000 121611000 34091000 67838000 2263000 6377000 3106000 6394000 3609000 6824000 -58466000 -207149000 -10614000 -510958000 -112698000 8320000 5370446000 4853837000 4869303000 4850769000 5375265000 4860481000 -149568000 -217487000 377172000 377172000 16425279000 15930513000 245336000 221803000 31220000 25610000 696345000 710309000 1341389000 1321577000 XBRL exhibits NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities; fixed-rate, fixed-income securities; and cash and cash equivalents. Entergy applies the provisions of SFAS 115, "Accounting for Investments for Certain Debt and Equity Securities," in accounting for investments in decommissioning trust funds. As a result, Entergy records the decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits/debits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not receive regulatory treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulat ed other comprehensive income component of common shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of common shareholders' equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. Entergy records realized gains and losses on its debt and equity securities generally using the specific identification method to determine the cost basis of its securities. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $1,487 $106 $88Debt Securities 1,407 54 12 Total $2,894 $160 $100 2008 Equity Securities $1,436 $85 $177Debt Securities 1,396 77 21 Total $2,832 $162 $198 The amortized cost of debt securities was $1,365 million and $1,340 million at June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.89%, an average duration of approximately 5.12 years, and an average maturity of approximately 8.4 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value GrossUnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $302 $49 $278 $7More than 12 months 77 39 67 5 Total $379 $88 $345 $12 The unrealized losses in excess of twelve months above relate to Entergy's Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $11 $21 1 year - 5 years 634 5265 years - 10 years 435 49010 years - 15 years 107 14615 years - 20 years 54 5220 years+ 166 161 Total $1,407 $1,396 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $699 million and $491 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $16 million and $8 million, respectively, and gross losses of $10 million and $3 million, respectively, were either reclassified out of other comprehensive income into earnings or recorded into earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $1,282 million and $748 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $30 million and $14 million, respectively, and gross losses of $26 million and $5 million, respectively, were either reclassified out of other comprehensive income into earnings or recorded into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $163.8 $32.4 $11.2Debt Securities 233.1 10.8 1.8 Total $396.9 $43.2 $13.0 2008 Equity Securities $165.6 $31.7 $13.7Debt Securities 224.9 12.8 2.4 Total $390.5 $44.5 $16.1 The amortized cost of debt securities was $224.1 million and $214.5 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.77%, an average duration of approximately 4.93 years, and an average maturity of approximately 6.1 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $44.1 $6.7 $23.0 $1.3More than 12 months 9.6 4.5 18.8 0.5 Total $53.7 $11.2 $41.8 $1.8 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $2.1 $2.01 year - 5 years 122.3 127.05 years - 10 years 95.6 93.910 years - 15 years 2.6 2.015 years - 20 years 4.0 -20 years+ 6.5 - Total $233.1 $224.9 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $21.9 million and $81.5 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.1 million and $2.4 million, respectively, and gross losses of $0.4 million and $0.1 million, respectively, were recorded in earnings.During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $51.7 million and $104.9 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $0.2 million and $2.7 million, respectively, and gross losses of $1.2 million and $0.4 million, respectively, were recorded in earnings. Entergy Gulf States Louisiana Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: FairValue TotalUnrealizedGains TotalUnrealizedLosses (In Millions)2009 Equity Securities $131.6 $5.3 $22.6Debt Securities 180.4 8.1 1.0 Total $312.0 $13.4 $23.6 2008 Equity Securities $132.3 $4.6 $24.5Debt Securities 170.9 8.7 3.3 Total $303.2 $13.3 $27.8 The amortized cost of debt securities was $173.3 million and $165.5 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.92%, an average duration of approximately 6.09 years, and an average maturity of approximately 9.4 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities FairValue GrossUnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $93.2 $17.0 $8.4 $0.3More than 12 months 11.0 5.6 11.6 0.7 Total $104.2 $22.6 $20.0 $1.0 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $5.7 $6.51 year - 5 years 37.3 36.55 years - 10 years 73.3 75.710 years - 15 years 43.9 36.015 years - 20 years 12.0 8.720 years+ 8.2 7.5 Total $180.4 $170.9 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $9.9 million and $15.3 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.1 million and $0.2 million, respectively, and gross losses of $0.4 million and $0.09 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $33.7 million and $26.3 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $0.9 million and $0.4 million, respectively, and gross losses of $0.5 million and $0.1 million, respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: FairValue TotalUnrealizedGains TotalUnrealizedLosses (In Millions)2009 Equity Securities $96.1 $5.2 $15.5Debt Securities 89.0 3.7 1.6 Total $185.1 $8.9 $17.1 2008 Equity Securities $93.3 $3.9 $17.2Debt Securities 87.6 7.1 1.6 Total $180.9 $11.0 $18.8 The amortized cost of debt securities was $87.0 million and $82.1 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.07%, an average duration of approximately 4.97 years, and an average maturity of approximately 10.0 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $43.8 $8.6 $25.5 $1.0More than 12 months 13.5 6.9 4.2 0.6 Total $57.3 $15.5 $29.7 $1.6 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $0.3 $1.21 year - 5 years 32.9 33.45 years - 10 years 23.8 21.410 years - 15 years 11.5 10.515 years - 20 years 5.2 6.820 years+ 15.3 14.3 Total $89.0 $87.6 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $23.3 million and $4.3 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $1.1 million and $0.01 million, respectively, and gross losses of $0.3 million and $0.08 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $33.5 million and $9.3 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $1.5 million and $0.02 million, respectively, and gross losses of $0.4 million and $0.1 million, respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $147.7 $4.5 $34.0Debt Securities 133.2 2.0 1.6 Total $280.9 $6.5 $35.6 2008 Equity Securities $127.8 $2.0 $36.3Debt Securities 141.0 6.9 3.9 Total $268.8 $8.9 $40.2 The amortized cost of debt securities was $132.7 million and $138.0 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.40%, an average duration of approximately 4.67 years, and an average maturity of approximately 7.7 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $59.8 $12.6 $46.6 $0.8More than 12 months 43.1 21.4 7.1 0.8 Total $102.9 $34.0 $53.7 $1.6 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $0.2 $2.01 year - 5 years 83.5 48.05 years - 10 years 30.2 44.010 years - 15 years 0.4 10.015 years - 20 years 0.8 1.220 years+ 18.1 35.8 Total $133.2 $141.0 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $170.1 million and $141.5 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.7 million and $1.5 million, respectively, and gross losses of $3.9 million and $0.7 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $322.0 million and $176.5 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $3.7 million and $2.3 million, respectively, and gross losses of $6.3 million and $1.3 million, respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate these unrealized losses at the end of each period to determine whether an other than temporary impairment has occurred. Effective January 1, 2009, Entergy adopted FSP FAS 115-2, "Recognition and Presentation of Other-Than-Temporary Impairments". The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary-impairment shall have been considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). For debt securities held as of January 1, 2009 for which an other-than-temporary impairment had previously been recognized but for which assessment under the new guidance indicates this impairment is temporary, Entergy recorded an adjustment to its opening balance of retained earnings of $11.3 million ($6.4 million net-of-tax). Entergy did not have any material other than temporary impairments relating to credit losses on debt securities for the six months ended June 30, 2009. The assessment of whether an investment in an equity security has suffered an other than temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Non-Utility Nuclear recorded charges to other income of $69 million and $85 million in the three and six months ended June 30, 2009, respectively, resulting from the recognition of the other than temporary impairment of certain equity securities held in its decommissioning trust funds. 4819000 6644000 505962000 9712000 500000000 0 1330730000 809653000 1282206000 748181000 8654000 30725000 1016349000 913569000 1888000 -216810000 -757406000 -880998000 -10184849000 -11174289000 67775000 66247000 220108000 216145000 4998000 4975000 9996000 9973000 260689000 247977000 518541000 492962000 4819000 6644000 6028000 9712000 32730000 18371000 932056000 778818000 -2761435000 -2677495000 -805684000 -544460000 172202000 168122000 39244449000 38359627000 4430066000 5160389000 1095384000 1198135000 NOTE 8. RISK MANAGEMENT AND FAIR VALUES Market and Commodity Risks In the normal course of business, Entergy is exposed to a number of market and commodity risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk. Entergy is subject to a number of commodity and market risks, including: Type of Risk Affected Businesses Power price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsFuel price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsForeign currency exchange rate risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsEquity price and interest rate risk - investments Utility, Non-Utility Nuclear Entergy manages a portion of these risks using derivative instruments, some of which are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sales transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include long-term power purchase and sales agreements and fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity futures, forwards, swaps, and options; foreign currency forwards; and interest rate swaps. Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. Entergy manages fuel price risk for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term swaps. These swaps are marked-to-market with offsetting regulatory assets or liabilities. The notional volumes of these swaps are based on a portion of projected annual purchases of gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness g iven Entergy's objectives. Hedging Derivatives Effective January 1, 2009, Entergy adopted Statement of Financial Accounting Standards No. 161 "Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133" (SFAS 161), which requires enhanced disclosures about an entity's derivative and hedging activities. The fair values of Entergy's derivative instruments in the consolidated balance sheet as of June 30, 2009 are as follows: Instrument Balance Sheet Location Fair Value Business Derivatives designated as hedging instruments under FASB 133 Assets: Electricity futures, forwards, and swaps Prepayments and other (current portion) $208 million Non-Utility Nuclear Electricity futures, forwards, and swaps Other deferred debits and other assets (non-current portion) $105 million Non-Utility Nuclear Derivatives not designated as hedging instruments under FASB 133 Liabilities: Natural gas futures, forwards, and swaps Other current liabilities $53 million Utility The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated statements of income for the three months ended June 30, 2009 is as follows: Instrument Amount of gain (loss) recognized in OCI (effective portion) Statement of Income location Amount of gain (loss) reclassified from accumulated OCI into income (effective portion) Electricity futures, forwards, and swaps $36 million Competitive businesses operating revenues $76 million The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated statements of income for the six months ended June 30, 2009 is as follows: Instrument Amount of gain (loss) recognized in OCI (effective portion) Statement of Income location Amount of gain (loss) reclassified from accumulated OCI into income (effective portion) Electricity futures, forwards, and swaps $237 million Competitive businesses operating revenues $133 million Electricity over-the-counter swaps that financially settle against day-ahead power pool prices are used to manage price exposure for Non-Utility Nuclear generation. Based on market prices as of June 30, 2009, cash flow hedges relating to power sales totaled $313 million of gross gains, of which approximately $208 million are expected to be reclassified from accumulated other comprehensive income (OCI) to operating revenues in the next twelve months. The actual amount reclassified from accumulated OCI, however, could vary due to future changes in market prices. Gains totaling approximately $76 million and $133 million were realized on the maturity of cash flow hedges for the three months ended June 30, 2009 and for the six months ended June 30, 2009, respectively. Unrealized gains or losses recorded in OCI result from hedging power output at the Non-Utility Nuclear power plants. The related gains or losses from hedging power are included in operating revenues when realized. The maximum length of time ov er which Entergy is currently hedging the variability in future cash flows for forecasted power transactions at June 30, 2009 is approximately four years. Planned generation sold forward from Non-Utility Nuclear power plants as of June 30, 2009 is 87% for the remaining two quarters of 2009 of which approximately one-third is sold under financial hedges and the remainder under normal purchase/sale contracts. The ineffective portion of the change in the value of Entergy's cash flow hedges during the three and six months ended June 30, 2009 and 2008 was insignificant. Credit support for these power cash flow hedges are covered by diverse master agreements, some of which require collateralization based on mark-to-market value while others do not require such collateralization. As of June 30, 2009, Non-Utility Nuclear was not required to post any collateral due to the fact that these cash flow hedges were in-the-money and were thus recorded as assets. Natural gas over-the-counter swaps that financially settle against NYMEX futures are used to manage fuel price risk for the Utility's Louisiana and Mississippi customers. All benefits or costs of the program are recorded in fuel costs. The total volume of natural gas swaps outstanding as of June 30, 2009 is 37,490,000 MMBtu for Entergy, 9,180,000 MMBtu for Entergy Gulf States Louisiana, 15,290,000 MMBtu for Entergy Louisiana, 9,150,000 MMBtu for Entergy Mississippi, and 3,870,000 for Entergy New Orleans. Credit support for these natural gas swaps are covered by master agreements that do not require collateralization based on mark-to-market value but do carry material adverse change clauses that may lead to collateralization requests. The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated statements of income for the three months ended June 30, 2009 is as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $38 million The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated statements of income for the six months ended June 30, 2009 is as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $14 million Due to regulatory treatment, the natural gas swaps are marked to market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as offsetting regulatory assets or liabilities. The fair values of the Registrant Subsidiaries' derivative instruments in their balance sheets as of June 30, 2009 are as follows: Instrument Balance Sheet Location Fair Value Registrant Derivatives not designated as hedging instruments under FASB 133 Liabilities: Natural gas swaps Gas hedge contracts $12.2 million Entergy Gulf States LouisianaNatural gas swaps Gas hedge contracts $23.5 million Entergy LouisianaNatural gas swaps Gas hedge contracts $15.4 million Entergy MississippiNatural gas swaps Other current liabilities $1.6 million Entergy New Orleans The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their statements of income for the three months ended June 30, 2009 are as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Registrant Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $10.7 million Entergy Gulf States Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $16.4 million Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $11.6 million Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) million Entergy New Orleans The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their statements of income for the six months ended June 30, 2009 are as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Registrant Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.0 million Entergy Gulf States Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 million Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.2 million Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $2.7 million Entergy New Orleans Fair Values The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices and market quotes. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Effective January 1, 2008, Entergy and the Registrant Subsidiaries adopted Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (SFAS 157), which defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair valu e measurements. SFAS 157 generally does not require any new fair value measurements. However, in some cases, the application of SFAS 157 in the future may change Entergy's and the Registrant Subsidiaries' practice for measuring and disclosing fair values under other accounting pronouncements that require or permit fair value measurements. SFAS 157 defines fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. SFAS 157 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of fair value hierarchy defined in SFAS 157 are as follows: - - Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents, debt instruments, and gas hedge contracts. - - Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Level 2 inputs include the following: - - quoted prices for similar assets or liabilities in active markets;- quoted prices for identical assets or liabilities in inactive markets;- inputs other than quoted prices that are observable for the asset or liability; or- inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually owned debt instruments or shares in common trusts. - - Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for the cash flow hedges that are recorded as derivative contract assets or liabilities are based on both observable inputs including public market prices and unobservable inputs such as model-generated prices for longer-term markets and are classified as Level 3 assets and liabilities. The amounts reflected as the fair value of derivative assets or liabilities are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from Entergy's Non-Utility Nuclear business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from a combination of quoted forward powe r market prices for the period for which such curves are available, and model-generated prices using quoted forward gas market curves and estimates regarding heat rates to convert gas to power and the costs associated with the transportation of the power from the plants' bus bar to the contract's point of delivery, generally a power market hub, for the period thereafter. The difference between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. All of the $313 million of cash flow hedges at June 30, 2009 are in-the-money contracts with counterparties who are all currently investment grade. Effective January 1, 2009, Entergy adopted FSP No. FAS 157-4, "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly" (FSP 157-4), which provides additional guidance for estimating fair value in accordance with SFAS 157 when the volume and level of activity for the asset and liability have significantly decreased and includes guidance on identifying circumstances that indicate a transaction is not orderly. The adoption of FSP 157-4 had no impact on net income or total equity. The following table sets forth, by level within the fair value hierarchy established by SFAS 157, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of June 30, 2009. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,206 $- $- $1,206Decommissioning trust funds: Equity securities 182 1,304 - 1,486Debt securities 382 1,026 - 1,408Power contracts - - 313 313Securitization recovery trust account 9 - - 9Other investments 39 - - 39 $1,818 $2,330 $313 $4,461 Liabilities: Gas hedge contracts $53 $- $- $53 The following table sets forth a reconciliation of changes in the assets (liabilities) for the fair value of derivatives classified as Level 3 in the SFAS 157 fair value hierarchy for the three months ended June 30, 2009: 2009 2008 (In Millions) Balance as of beginning of period $351 ($288) Price changes (unrealized gains/losses) 36 (480)Originated 2 (3)Settlements (76) 37 Balance as of June 30 $313 ($734)The following table sets forth a reconciliation of changes in the assets (liabilities) for the fair value of derivatives classified as Level 3 in the SFAS 157 fair value hierarchy for the six months ended June 30, 2009: 2009 2008 (In Millions) Balance as of January 1 $207 ($12) Price changes (unrealized gains/losses) 237 (676)Originated 2 (77)Settlements (133) 31 Balance as of June 30 $313 ($734) The following table sets forth, by level within the fair value hierarchy established by SFAS 157, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of June 30, 2009. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. Level 1 Level 2 Level 3 Total (In Millions) Entergy Arkansas: Assets: Temporary cash investments $79.7 $- $- $79.7Decommissioning trust funds: Equity securities 3.3 160.6 - 163.9Debt securities 19.3 213.8 - 233.1 $102.3 $374.4 $- $476.7 Entergy Gulf States Louisiana: Assets: Temporary cash investments $67.0 $- $- $67.0Decommissioning trust funds: Equity securities 1.5 130.2 - 131.7Debt securities 21.5 158.8 - 180.3 $90.0 $289.0 $- $379.0 Liabilities: Gas hedge contracts $12.2 $- $- $12.2 Entergy Louisiana: Assets: Temporary cash investments $72.5 $- $- $72.5Decommissioning trust funds: Equity securities 7.1 89.0 - 96.1Debt securities 43.9 45.1 - 89.0Other investments 0.8 - - 0.8 $124.3 $134.1 $- $258.4 Liabilities: Gas hedge contracts $23.5 $- $- $23.5 Entergy Mississippi: Assets: Temporary cash investments $42.0 $- $- $42.0Other investments 31.9 - - 31.9 $73.9 $- $- $73.9 Liabilities: Gas hedge contracts $15.4 $- $- $15.4 Entergy New Orleans: Assets: Temporary cash investments $121.6 $- $- $121.6Other investments 6.2 - - 6.2 $127.8 $- $- $127.8 Liabilities: Gas hedge contracts $1.6 $- $- $1.6 Entergy Texas: Assets: Temporary cash investments $75.3 $- $- $75.3Securitization recovery trust account 9.1 - - 9.1 $84.4 $- $- $84.4 System Energy: Assets: Temporary cash investments $91.1 $- $- $91.1Decommissioning trust funds: Equity securities 2.1 143.9 - 146.0Debt securities 56.5 78.4 - 134.9 $149.7 $222.3 $- $372.0 NOTE 2. RATE AND REGULATORY MATTERS Regulatory Assets See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business reflected on the balance sheets of Entergy and the Registrant Subsidiaries. Following are updates to that discussion. Fuel and purchased power cost recovery See Note 2 to the financial statements in the Form 10-K for information regarding fuel proceedings involving the Utility operating companies. Following are updates to that information. Entergy Arkansas Energy Cost Recovery Rider In March 2009, Entergy Arkansas filed with the APSC its annual energy cost rate for the period April 2009 through March 2010. The filed energy cost rate decreased from $0.02456/kWh to $0.01552/kWh. The decrease was caused by the following: 1) all three of the nuclear power plants from which Entergy Arkansas obtains power, ANO 1 and 2 and Grand Gulf, had refueling outages in 2008, and the previous energy cost rate had been adjusted to account for the replacement power costs that would be incurred while these units were down; 2) Entergy Arkansas has a deferred fuel cost liability from over-recovered fuel costs at December 31, 2008, as compared to a deferred fuel cost asset from under-recovered fuel costs at December 31, 2007; offset by 3) an increase in the fuel and purchased power prices included in the calculation. Entergy Mississippi On June 30, 2009, the MPSC issued an order stating that it may hire an independent audit firm to audit Entergy Mississippi's fuel adjustment clause or other mechanism directly related to the purchase of fuel or energy for the period October 2007 through September 2009. Entergy Texas In January 2008, Entergy Texas made a compliance filing with the PUCT describing how its 2007 Rough Production Cost Equalization receipts under the System Agreement were allocated between Entergy Gulf States, Inc.'s Texas and Louisiana jurisdictions. A hearing was held at the end of July 2008, and in October 2008 the ALJ issued a proposal for decision recommending an additional $18.6 million allocation to Texas retail customers. The PUCT adopted the ALJ's proposal for decision in December 2008. Because the PUCT allocation to Texas retail customers is inconsistent with the LPSC allocation to Louisiana retail customers, adoption of the proposal for decision by the PUCT could result in trapped costs between the Texas and Louisiana jurisdictions with no mechanism for recovery. The PUCT denied Entergy Texas' motion for rehearing and Entergy Texas commenced proceedings in both state and federal district courts seeking to reverse the PUCT's decision. On May 12, 2009, certain defendants, in their official capa cities as Commissioners of the PUCT, filed a motion to dismiss Entergy Texas' pending complaint before the U.S. District Court for the Western District of Texas. The federal proceeding, including a ruling on the motion to dismiss, has been abated pending further action by the FERC in the proceeding discussed below. Entergy Texas also filed with the FERC a proposed amendment to the System Agreement bandwidth formula to specifically calculate the payments to Entergy Gulf States Louisiana and Entergy Texas of Entergy Gulf States, Inc.'s rough production cost equalization receipts for 2007. On May 8, 2009, the FERC issued an order rejecting the proposed amendment, stating, among other things, that the FERC does not have jurisdiction over the allocation of an individual utility's receipts/payments among or between its retail jurisdictions and that this was a matter for the courts to review in the pending proceedings noted above. Because of the FERC's order, Entergy Texas recorded the effects of the PUCT's allocation of the additional $18.6 million to retail customers in the second quarter of 2009. On an after-tax basis, the charge to earnings was approximately $13.0 million (including interest). Entergy requested rehearing of the FERC's order, and on July 8, 2009, the FERC granted the request for rehearing for the limi ted purpose of affording more time for consideration of Entergy's request. In May 2009, Entergy Texas filed with the PUCT a request to refund $46.1 million, including interest, of fuel cost recovery over-collections through February 2009. Entergy Texas requested that the proposed refund be made over a four-month period beginning June 2009. Pursuant to a stipulation among the various parties, in June 2009 the PUCT issued an order approving a refund of $59.2 million, including interest, of fuel cost recovery overcollections through March 2009. The refund will be made over a three-month period beginning July 2009. Storm Cost Recovery Filings Entergy Arkansas Storm Reserve Accounting The APSC's June 2007 order in Entergy Arkansas' base rate proceeding, which is discussed in the Form 10-K, eliminated storm reserve accounting for Entergy Arkansas. In March 2009 a law was enacted in Arkansas that requires the APSC to permit storm reserve accounting for utilities that request it. Entergy Arkansas filed its request with the APSC, and has reinstated storm reserve accounting effective January 1, 2009. Entergy Arkansas January 2009 Ice Storm In January 2009 a severe ice storm caused significant damage to Entergy Arkansas' transmission and distribution lines, equipment, poles, and other facilities. The current cost estimate for the damage caused by the ice storm is approximately $120 million to $140 million, of which approximately $65 million to $80 million is estimated to be operating and maintenance type costs and the remainder is estimated to be capital investment. On January 30, 2009, the APSC issued an order inviting and encouraging electric public utilities to file specific proposals for the recovery of extraordinary storm restoration expenses associated with the ice storm. Although Entergy Arkansas has not yet filed a proposal for the method of recovery of its costs, on February 16, 2009, it did file a request with the APSC for an accounting order authorizing deferral of the operating and maintenance cost portion of Entergy Arkansas' ice storm restoration costs pending their recovery. The APSC issued such an order in March 2009 subjec t to certain conditions, including that if Entergy Arkansas seeks to recover the deferred costs, those costs will be subject to investigation for whether they are incremental, prudent, and reasonable. Entergy Arkansas is still analyzing its options for the method of recovery of the ice storm restoration costs. One option is securitization, and in April 2009 a law was enacted in Arkansas that authorizes securitization of storm damage restoration costs. Entergy Gulf States Louisiana and Entergy Louisiana Hurricane Gustav and Hurricane Ike Filing See the Form 10-K for a discussion of Hurricane Gustav and Hurricane Ike, which caused catastrophic damage to portions of Entergy's service territories in Louisiana in September 2008. Entergy Gulf States Louisiana and Entergy Louisiana filed their Hurricane Gustav and Hurricane Ike storm cost recovery case with the LPSC in May 2009. Entergy Gulf States Louisiana seeks a determination that $150.7 million of storm restoration costs are recoverable and seeks to replenish its storm reserve in the amount of $90 million. Entergy Louisiana seeks a determination that $261.9 million of storm restoration costs are recoverable and seeks to replenish its storm reserve in the amount of $200 million. The storm restoration costs are net of costs that have already been paid from previously funded storm reserves. Entergy Gulf States Louisiana and Entergy Louisiana expect to make a supplemental filing to, among other things, recommend a recovery method for costs approved by the LPSC. The parties have agreed to a proced ural schedule that includes March 2010 hearing dates for both the recoverability and the method of recovery proceedings. Recovery options include traditional base rate recovery, Louisiana Act 64 (passed in 2006) financing, or Louisiana Act 55 (passed in 2007) financing. Entergy Gulf States Louisiana and Entergy Louisiana recovered their costs from Hurricane Katrina and Hurricane Rita primarily by Act 55 financing. Entergy Texas Hurricane Ike and Hurricane Gustav Filing See the Form 10-K for a discussion of Hurricane Gustav and Hurricane Ike, which caused catastrophic damage to portions of Entergy's service territory in Texas in September 2008. In April 2009 a law was enacted in Texas that authorizes recovery of these types of costs by securitization. Entergy Texas filed its storm cost recovery case in April 2009 seeking a determination that $577.5 million of Hurricane Ike and Hurricane Gustav restoration costs are recoverable, including estimated costs for work to be completed. On August 5, 2009, Entergy Texas submitted to the ALJ an unopposed settlement agreement that will, if approved, resolve all issues in the storm cost recovery case. Under the terms of the agreement $566.4 million, plus carrying costs, are eligible for recovery. In addition, $70 million in anticipated insurance proceeds will be credited as an offset to the securitized amount, subject to true-up based on actual proceeds received. Of the $11.1 million difference between Entergy Texas' request and the amount agreed to, which is part of the black box agreement and not directly attributable to any specific individual issues raised, $6.8 million is operation and maintenance expense for which Entergy Texas has recorded a charge in the second quarter 2009. The remaining $4.3 million will be recorded as utility plant. The PUCT is expected to consider the agreement at its August 13, 2009, meeting. On July 16, 2009, Entergy Texas also made its financing request filing seeking approval to recover its approved costs, plus carrying costs, by securitization. A prehearing conference was held on August 4, 2009, and the ALJ ordered a procedural schedule that includes a September 25, 2009, hearing date. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to the Form 10-K. Filings with the APSC Retail Rates See the Form 10-K for a discussion of the rate filing made by Entergy Arkansas and the proceedings regarding that filing. On April 23, 2009, the Arkansas Supreme Court denied Entergy Arkansas' petition for review of the Court of Appeals decision. On July 2, 2009, Entergy Arkansas filed a notice with the APSC of its intention to file within 60 to 90 days for a general change in rates, charges, and tariffs. Entergy Arkansas plans to file the rate case in September 2009. Filings with the LPSC Retail Rates - Electric (Entergy Gulf States Louisiana and Entergy Louisiana) In July 2009 the LPSC issued an order noting that the LPSC Staff and Entergy are continuing in negotiations that could result in the recommendation for the adoption of new Formula Rate Plans for Entergy Gulf States Louisiana and Entergy Louisiana, and the LPSC Staff will report to the LPSC on the progress of those negotiations at the LPSC's September meeting. In the interim Entergy Gulf States Louisiana's and Entergy Louisiana's base rates will remain unchanged. Entergy Gulf States Louisiana and Entergy Louisiana will both implement previously approved capacity cost adjustments. Entergy Gulf States Louisiana's net increase in capacity costs of $5 million will be deferred for future recovery. Entergy Louisiana's net decrease in capacity costs of $17 million will be used to increase the storm reserve accrual. (Entergy Louisiana) In May 2007, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2006 test year, indicating a 7.6% earned return on common equity. That filing included Entergy Louisiana's request to recover $39.8 million in unrecovered fixed costs associated with the loss of customers that resulted from Hurricane Katrina, a request that was reduced to $31.7 million. In September 2007, Entergy Louisiana modified its formula rate plan filing to reflect its implementation of certain adjustments proposed by the LPSC Staff in its review of Entergy Louisiana's original filing with which Entergy Louisiana agreed, and to reflect its implementation of an $18.4 million annual formula rate plan increase comprised of (1) a $23.8 million increase representing 60% of Entergy Louisiana's revenue deficiency, and (2) a $5.4 million decrease for reduced incremental and deferred capacity costs. The LPSC authorized Entergy Louisiana to defer for accounting purposes the difference between its $39.8 million claim, now a t $31.7 million, for unrecovered fixed cost and 60% of the revenue deficiency to preserve Entergy Louisiana's right to pursue that claim in full during the formula rate plan proceeding. In October 2007, Entergy Louisiana implemented a $7.1 million formula rate plan decrease that was due primarily to the reclassification of certain franchise fees from base rates to collection via a line item on customer bills pursuant to an LPSC Order. The LPSC staff and intervenors recommended disallowance of certain costs included in Entergy Louisiana's filing. Entergy Louisiana disagrees with the majority of the proposed disallowances and a hearing on the disputed issues was held in late-September/early-October 2008. In March 2009 the ALJ issued a proposed recommendation, which does not allow recovery of the unrecovered fixed costs and also disallows recovery of all costs associated with Entergy's stock option plan. Entergy Louisiana has filed exceptions to the ALJ's proposed recommendation. Retail Rates - Gas (Entergy Gulf States Louisiana) In January 2009, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2008. The filing showed a revenue deficiency of $529 thousand based on a return on common equity mid-point of 10.5%. In April 2009, Entergy Gulf States Louisiana implemented a $255 thousand rate increase pursuant to an uncontested settlement with the LPSC staff. Filings with the MPSC In March 2009, Entergy Mississippi made with the MPSC its annual scheduled formula rate plan filing for the 2008 test year. The filing reported a $27.0 million revenue deficiency and an earned return on common equity of 7.41%. Entergy Mississippi requested a $14.5 million increase in annual electric revenues, which is the maximum increase allowed under the terms of the formula rate plan. The MPSC issued an order on June 30, 2009, finding that Entergy Mississippi's earned return was sufficiently below the lower bandwidth limit set by the formula rate plan to require a $14.5 million increase in annual revenues, effective for bills rendered on or after June 30, 2009. In March 2008, Entergy Mississippi made its annual scheduled formula rate plan filing for the 2007 test year with the MPSC. The filing showed that a $10.1 million increase in annual electric revenues is warranted. In June 2008, Entergy Mississippi reached a settlement with the Mississippi Public Utilities Staff that would result in a $3.8 million rate increase. In January 2009 the MPSC rejected the settlement and left the current rates in effect. Entergy Mississippi appealed the MPSC's decision to the Mississippi Supreme Court. After the decision of the MPSC regarding the formula rate plan filing for the 2008 test year, Entergy Mississippi filed a motion to dismiss its appeal to the Mississippi Supreme Court. Filings with the City Council Retail Rates As discussed in the Form 10-K, on July 31, 2008, Entergy New Orleans filed an electric and gas base rate case with the City Council. On April 2, 2009, the City Council approved a comprehensive settlement. The settlement provides for a net $35.3 million reduction in combined fuel and non-fuel revenue requirement, including conversion of the $10.6 million voluntary recovery credit to a permanent reduction and complete realignment of Grand Gulf cost recovery from fuel to base rates, and a $4.95 million gas rate increase, both effective June 1, 2009. A new three-year formula rate plan was also adopted, with terms including an 11.1% electric return on common equity (ROE) with a +/- 40 basis point bandwidth and a 10.75% gas ROE with a +/- 50 basis point bandwidth. Earnings outside the bandwidth reset to the midpoint ROE, with the difference flowing prospectively to customers or Entergy New Orleans depending on whether Entergy New Orleans is over- or under-earning. The formula rate plan also includes a recove ry mechanism for City Council-approved capacity additions, plus provisions for extraordinary cost changes and force majeure. Fuel Adjustment Clause Litigation See the Form 10-K for a discussion of the lawsuit filed by a group of ratepayers in April 1999 against Entergy New Orleans, Entergy Corporation, Entergy Services, and Entergy Power in state court in Orleans Parish purportedly on behalf of all Entergy New Orleans ratepayers. In February 2004, the City Council approved a resolution that resulted in a refund to customers of $11.3 million, including interest, during the months of June through September 2004. In May 2005 the Civil District Court for the Parish of Orleans affirmed the City Council resolution, finding no support for the plaintiffs' claim that the refund amount should be higher. In June 2005, the plaintiffs appealed the Civil District Court decision to the Louisiana Fourth Circuit Court of Appeal. On February 25, 2008, the Fourth Circuit Court of Appeal issued a decision affirming in part, and reversing in part, the Civil District Court's decision. Although the Fourth Circuit Court of Appeal did not reverse any of the substantive findings and c onclusions of the City Council or the Civil District Court, the Fourth Circuit found that the amount of the refund was arbitrary and capricious and increased the amount of the refund to $34.3 million. In April 2009 the Louisiana Supreme Court reversed the decision of the Louisiana Fourth Circuit Court of Appeal and reinstated the decision of the Civil District Court. On April 17, 2009, the plaintiffs requested rehearing by the Louisiana Supreme Court. On May 29, 2009, the Louisiana Supreme Court denied the request for rehearing. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates As discussed in the Form 10-K, Entergy Texas made a rate filing in September 2007 with the PUCT requesting an annual rate increase totaling $107.5 million, including a base rate increase of $64.3 million and riders totaling $43.2 million. On December 16, 2008, Entergy Texas filed a term sheet that reflected a settlement agreement that included the PUCT Staff and the other active participants in the rate case. On December 19, 2008, the ALJs approved Entergy Texas' request to implement interim rates reflecting the agreement. The agreement includes a $46.7 million base rate increase, among other provisions. Under the ALJs' interim order, Entergy Texas implemented interim rates, subject to refund and surcharge, reflecting the rates established through the settlement. These rates became effective with bills rendered on and after January 28, 2009, for usage on and after December 19, 2008. In addition, the existing recovery mechanism for incremental purchased power capacity costs ceased as of Ja nuary 28, 2009, with purchased power capacity costs then subsumed within the base rates set in this proceeding. Certain Texas municipalities exercised their original jurisdiction and took final action to approve rates consistent with the interim rates approved by the ALJs. In March 2009, the PUCT approved the settlement, which made the interim rates final, and this PUCT decision is now final and non-appealable. Electric Industry Restructuring in Texas See Note 2 to the financial statements in the Form 10-K for a discussion of electric restructuring activity that involves Entergy Texas. In June 2009, a law was enacted in Texas that requires Entergy Texas to cease all activities relating to Entergy Texas' transition to competition. The law allows Entergy Texas to remain a part of the SERC Region, although it does not prevent Entergy Texas from joining the Southwest Power Pool. The law provides that any further proceedings to certify a power region that Entergy Texas belongs to as a qualified power region can be initiated by the PUCT, or on motion by another party, when the conditions supporting such a proceeding exist. Under the new law, the PUCT may not approve a transition to competition plan for Entergy Texas until the expiration of four years from the PUCT's certification of Entergy Texas' power region. In response to the new law, Entergy Texas in June 2009 gave notice to the PUCT of the withdrawal of its transition to competition plan, and reques ted that its transition to competition proceeding be dismissed. In July 2009 the ALJ dismissed the proceeding. The new law also contains provisions that allow Entergy Texas to be included in a cost recovery mechanism that permits annual filings for the recovery of reasonable and necessary expenditures for transmission infrastructure improvement and changes in wholesale transmission charges. This mechanism was previously available to other non ERCOT Texas utility companies, but not to Entergy Texas. The new law further amends already existing law that had required Entergy Texas to propose for PUCT approval a tariff to allow eligible customers the ability to contract for competitive generation. The amending language in the new law provides, among other things, that: 1) the tariff shall not be implemented in a manner that harms the sustainability or competitiveness of manufacturers who choose not to participate in the tariff; 2) Entergy Texas shall "purchase competitive generation service, selected by the customer, and provide the generation at retail to the customer"; and 3) Entergy Texas shall provide and price transmission service and ancillary services under that tariff at a rate that is unbundled from its cost of service. The new law directs that the PUCT may not issue an order on the tariff that is contrary to an applicable decision, rule, or policy statement of a federal regulatory agency having jurisdiction. Entergy Texas has thus far not made a filing with the PUCT in response to the newl y adopted law addressing the tariff. The new law provides that the PUCT shall approve, reject, or modify the proposed tariff not later than September 1, 2010. 4998000 4975000 9996000 9973000 4998000 4975000 321186000 340077000 1022790000 1383393000 -8860474000 -8060592000 -217050000 -217029000 -316982000 -325570000 -311325000 -183539000 -55034000 -55034000 1.16 1.42 2.38 3.02 -7883000 33828000 26416000 84910000 521071000 726836000 1367060000 1267337000 2009-06-30 NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $22,412 $22,598 Interest cost on projected benefit obligation 54,543 51,646 Expected return on assets (62,305) (57,640) Amortization of prior service cost 1,249 1,266 Amortization of loss 5,600 6,482 Net pension costs $21,499 $24,352 Entergy's qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $44,824 $45,196 Interest cost on projected benefit obligation 109,086 103,293 Expected return on assets (124,610) (115,279) Amortization of prior service cost 2,498 2,532 Amortization of loss 11,200 13,416 Net pension costs $42,998 $49,158 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,400 $1,748 $1,974 $995 $425 $917 $880 Interest cost on projected benefit obligation 11,761 5,279 6,940 3,676 1,470 3,935 2,139 Expected return on assets (12,187) (7,516) (8,197) (4,236) (1,815) (5,185) (2,766)Amortization of prior service cost 212 110 119 85 52 80 9 Amortization of loss 1,764 79 703 324 305 43 109 Net pension cost/(income) $4,950 ($300) $1,539 $844 $437 ($210) $371 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,584 $1,841 $2,058 $1,063 $445 $968 $930 Interest cost on projected benefit obligation 11,616 5,047 6,784 3,627 1,415 3,882 1,937 Expected return on assets (11,765) (7,165) (8,134) (4,075) (1,839) (5,047) (2,452)Amortization of prior service cost 223 110 119 90 52 80 9 Amortization of loss 2,303 115 920 485 319 156 90 Net pension cost/(income) $5,961 ($52) $1,747 $1,190 $392 $39 $514 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $6,800 $3,496 $3,948 $1,990 $850 $1,834 $1,760 Interest cost on projected benefit obligation 23,522 10,558 13,880 7,352 2,940 7,870 4,278 Expected return on assets (24,374) (15,032) (16,394) (8,472) (3,630) (10,370) (5,532)Amortization of prior service cost 424 220 238 170 104 160 18 Amortization of loss 3,528 158 1,406 648 610 86 218 Net pension cost/(income) $9,900 ($600) $3,078 $1,688 $874 ($420) $742 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $7,168 $3,682 $4,116 $2,126 $890 $1,936 $1,860 Interest cost on projected benefit obligation 23,232 10,094 13,568 7,254 2,830 7,764 3,874 Expected return on assets (23,530) (14,330) (16,268) (8,150) (3,678) (10,094) (4,904)Amortization of prior service cost 446 220 238 180 104 160 18 Amortization of loss 4,606 230 1,840 970 638 312 180 Net pension cost/(income) $11,922 ($104) $3,494 $2,380 $784 $78 $1,028 Entergy recognized $4.4 million and $4.3 million in pension cost for its non-qualified pension plans in the second quarters of 2009 and 2008, respectively. Entergy recognized $8.8 million and $8.5 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2009 and 2008, respectively. The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans in the second quarters of 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Second Quarter 2009 $99 $97 $6 $43 $20 $185 Non-Qualified Pension Cost Second Quarter 2008 $133 $78 $7 $54 $12 $227 The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans for the six months ended June 30, 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Six Months Ended June 30, 2009 $198 $194 $12 $86 $40 $370 Non-Qualified Pension Cost Six Months Ended June 30, 2008 $266 $156 $14 $108 $24 $454 Components of Net Other Postretirement Benefit Cost Entergy's other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $11,691 $11,800 Interest cost on APBO 18,816 17,824 Expected return on assets (5,871) (7,027)Amortization of transition obligation 933 957 Amortization of prior service cost (4,024) (4,104)Amortization of loss 4,743 3,890 Net other postretirement benefit cost $26,288 $23,340 Entergy's other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $23,382 $23,600 Interest cost on APBO 37,632 35,648 Expected return on assets (11,742) (14,054)Amortization of transition obligation 1,866 1,914 Amortization of prior service cost (8,048) (8,208)Amortization of loss 9,486 7,780 Net other postretirement benefit cost $52,576 $46,680 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,765 $1,196 $1,147 $530 $311 $619 $513 Interest cost on APBO 3,759 2,005 2,297 1,173 967 1,490 605 Expected return on assets (2,143) - - (757) (684) (1,556) (414)Amortization of transition obligation 205 60 96 88 416 66 2 Amortization of prior service cost (197) (77) 117 (62) 90 19 (245)Amortization of loss 2,087 494 553 657 381 799 320 Net other postretirement benefit cost $5,476 $3,678 $4,210 $1,629 $1,481 $1,437 $781 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,706 $1,251 $1,099 $514 $295 $606 $513 Interest cost on APBO 3,443 1,917 2,187 1,141 953 1,440 531 Expected return on assets (2,492) - - (905) (789) (1,885) (511)Amortization of transition obligation 205 84 96 88 415 66 2 Amortization of prior service cost (197) 146 117 (62) 90 72 (283)Amortization of loss 1,440 494 677 534 291 357 177 Net other postretirement benefit cost $4,105 $3,892 $4,176 $1,310 $1,255 $656 $429 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,530 $2,392 $2,294 $1,060 $622 $1,238 $1,026 Interest cost on APBO 7,518 4,010 4,594 2,346 1,934 2,980 1,210 Expected return on assets (4,286) - - (1,514) (1,368) (3,112) (828)Amortization of transition obligation 410 120 192 176 832 132 4 Amortization of prior service cost (394) (154) 234 (124) 180 38 (490)Amortization of loss 4,174 988 1,106 1,314 762 1,598 640 Net other postretirement benefit cost $10,952 $7,356 $8,420 $3,258 $2,962 $2,874 $1,562 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,412 $2,502 $2,198 $1,028 $590 $1,212 $1,026 Interest cost on APBO 6,886 3,834 4,374 2,282 1,906 2,880 1,062 Expected return on assets (4,984) - - (1,810) (1,578) (3,770) (1,022)Amortization of transition obligation 410 168 192 176 830 132 4 Amortization of prior service cost (394) 292 234 (124) 180 144 (566)Amortization of loss 2,880 988 1,354 1,068 582 714 354 Net other postretirement benefit cost $8,210 $7,784 $8,352 $2,620 $2,510 $1,312 $858 Employer Contributions Based on current assumptions, Entergy expects to contribute $132 million to its qualified pension plans in 2009. Guidance pursuant to the Pension Protection Act of 2006 rules, effective for the 2009 plan year and beyond, may affect the level of Entergy's pension contributions in the future. As of the end of July 2009, Entergy had contributed $95 million to its pension plans. Therefore, Entergy presently anticipates contributing an additional $37 million to fund its qualified pension plans in 2009. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans in 2009: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Expected 2009 pension contributions $24,635 $6,279 $7,623 $5,806 $1,107 $3,577 $4,734Pension contributions made through July 2009 $16,194 $3,428 $4,370 $3,731 $509 $2,325 $3,226Remaining estimated pension contributions to be made in 2009 $8,441 $2,851 $3,253 $2,075 $598 $1,252 $1,508 Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Medicare Act) Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 Accumulated Postretirement Benefit Obligation (APBO) by $187 million, and reduced the second quarter 2009 and 2008 other postretirement benefit cost by $6.0 million and $6.2 million, respectively. It reduced the six months ended June 30, 2009 and 2008 other postretirement benefit cost by $12.0 million and $12.4 million, respectively. In the second quarter 2009, Entergy received $0.1 million in Medicare subsidies for prescription drug claims. In the six months ended June 30, 2009, Entergy received $1.1 million in Medicare subsidies for prescription drug claims. Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 APBO and the second quarters 2009 and 2008 other postretirement benefit cost and the six months ended June 30, 2009 and 2008 other postretirement benefit cost for the Registrant Subsidiaries as follows: Entergy Entergy Entergy Gulf States Entergy Entergy New Entergy System Arkansas Louisiana Louisiana Mississippi Orleans Texas Energy (In Thousands)Reduction in 12/31/2008 APBO ($40,610) ($19,650) ($22,222) ($13,280) ($9,135) ($14,961) ($6,628)Reduction in second quarter 2009 other postretirement benefit cost ($1,235) ($814) ($695) ($391) ($261) ($240) ($231)Reduction in second quarter 2008 other postretirement benefit cost ($1,266) ($876) ($706) ($406) ($279) ($263) ($236)Reduction in six months ended June 30, 2009 other postretirement benefit cost ($2,470) ($1,628) ($1,390) ($782) ($522) ($480) ($462)Reduction in six months ended June 30, 2008 other postretirement benefit cost ($2,532) ($1,752) ($1,412) ($812) ($558) ($526) ($472)Medicare subsidies received in the second quarter 2009 $30 $ 18 $19 $11 $11 $14 $2 Medicare subsidies received in the six months ended June 30, 2009 $256 $162 $168 $84 $97 $105 $25 For further information on the Medicare Act refer to Note 11 to the financial statements in the Form 10-K. -493000 348000 -628000 4325000 -503000 -430000 9995000 10030000 -1119481000 -1007644000 2962000 9171000 -5375265000 -4869303000 -2548000 -2482000 -300025000 -343093000 3666893000 3615104000 307232000 303769000 2046293000 2696162000 4328878000 4954663000 NOTE 11. NEW ACCOUNTING PRONOUNCEMENTS In December 2008 the FASB issued FSP FAS 132(R)-1 "Employers' Disclosures about Postretirement Benefit Plan Assets" (FSP 132(R)-1) which requires enhanced disclosures about plan assets of defined benefit pension and other postretirement plans including disclosure of each major category of plan assets using the fair value hierarchy and concentrations of risk within plan assets. FSP 132(R)-1 is effective for fiscal years ending after December 15, 2009. In June 2009 the FASB issued Statement of Financial Accounting Standards 167, "Amendments to FASB Interpretation No. 46R (FIN 46R)" (SFAS 167). FIN 46R is entitled "Consolidation of Variable Interest Entities". SFAS 167 amends FIN 46R to replace the quantitative-based risks and rewards calculation for determining which enterprise, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which enterprise has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. SFAS 167 also requires additional disclosures on an interim and annual basis about an enterprise's involvement in variable interest entities. The standard will be effective for Entergy in the first quarter of 2010. Entergy does not expect the adoption of SFAS 167 to have a material effect on its financial posi tion, results of operations, or cash flows. NOTE 5. STOCK-BASED COMPENSATION Entergy grants stock options, which are described more fully in Note 12 to the financial statements in the Form 10-K. Awards under Entergy's plans generally vest over three years. The following table includes financial information for stock options for the second quarter and six months ended June 30 for each of the years presented: 2009 2008 (In Millions) Compensation expense included in Entergy's Net Income for the second quarter $4.2 $4.7Tax benefit recognized in Entergy's Net Income for the second quarter $1.6 $1.8 Compensation expense included in Entergy's Net Income for the six months ended June 30, $8.5 $9.1Tax benefit recognized in Entergy's Net Income for the six months ended June 30, $3.3 $3.5Compensation cost capitalized as part of fixed assets and inventory as of June 30, $1.6 $1.7 Entergy granted 1,084,800 stock options during the first quarter 2009 with a weighted-average fair value of $12.47. At June 30, 2009, there were 12,028,511 stock options outstanding with a weighted-average exercise price of $67.65. The aggregate intrinsic value of the stock options outstanding at June 30, 2009 was $118.7 million. -94000000 -94000000 -208442000 -273297000 5921841000 5789771000 1083347000 1047654000 125157000 119903000 253123000 243047000 322919000 748203000 646174000 1368845000 NOTE 10. INCOME TAXES Income Tax Audits and Litigation See Note 3 to the financial statements in the Form 10-K for a discussion of tax proceedings. 725000 241000 271000 232000 500000000 500000000 0.01 0.01 -500000000 0 151536000 -54266000 -58177000 357503000 -4163312000 -4175214000 -7562587000 -7382719000 3314143000 3237544000 334286000 394000000 24736000 167092000 353819000 282914000 9100000 12062000 144161000 142996000 281609000 293561000 -27487000 -28030000 -46780000 -60567000 NOTE 3. EQUITY Common Stock Common Stock Issuances In February 2009, Entergy Corporation was unable to remarket successfully $500 million of notes associated with its equity units. The note holders therefore put the notes to Entergy, Entergy retired the notes, and Entergy issued 6,598,000 shares of common stock to the note holders. Earnings per Share The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statement: For the Three Months Ended June 30, 2009 2008 (In Millions, Except Per Share Data)Basic earnings per share Income Shares $/share Income Shares $/shareNet income attributable to Entergy Corporation $226.8 196.1 $1.16 $271.0 191.3 $1.42 Average dilutive effect of: Stock options - 2.1 (0.012) - 5.0 (0.036) Equity units - - - - 1.6 (0.011) Diluted earnings per share $226.8 198.2 $1.14 $271.0 197.9 $1.37 For the Six Months Ended June 30, 2009 2008 (In Millions, Except Per Share Data)Basic earnings per share Income Shares $/share Income Shares $/shareNet income attributable to Entergy Corporation $462.1 194.4 $2.38 $579.7 192.0 $3.02 Average dilutive effect of: Stock options - 2.1 (0.025) - 4.8 (0.073) Equity units $3.2 1.7 (0.005) - 1.3 (0.021) Deferred units - - - - (0.001) Diluted earnings per share $465.3 198.2 $2.35 $579.7 198.1 $2.93 Entergy's stock option and other equity compensation plans are discussed in Note 12 to the financial statements in the Form 10-K.Treasury Stock During the six months ended June 30, 2009, Entergy Corporation issued 166,334 shares of its previously repurchased common stock to satisfy stock option exercises and other stock-based awards. Retained Earnings On July 31, 2009, Entergy Corporation's Board of Directors declared a common stock dividend of $0.75 per share, payable on September 1, 2009 to holders of record as of August 12, 2009. Presentation of Non-Controlling Interests In 2007, the FASB issued SFAS 160, "Non-Controlling Interests in Consolidated Financial Statements, an amendment of ARB No. 51," which requires generally that the ownership interests in subsidiaries held by parties other than the parent (non-controlling interests) be clearly identified, labeled, and presented in the consolidated balance sheet within equity, but separate from the parent's equity, and that the amount of consolidated net income attributable to the parent and to the non-controlling interests be clearly identified and presented on the face of the consolidated income statement. SFAS 160 became effective for Entergy in the first quarter of 2009 and applies to preferred securities issued by Entergy subsidiaries to third parties. Presentation of Preferred Stock without Sinking Fund In connection with the adoption of SFAS 160 Entergy evaluated the requirements of EITF Topic No. 98, Classification and Measurement of Redeemable Securities (Topic D-98). Topic D-98 requires the classification of securities between liabilities and shareholders' equity if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company's preferred securities may elect a majority of the respective company's board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. In accordance with Topic D-98, Entergy Arkansas, Entergy Mississippi and Entergy New Orl eans present their preferred securities outstanding between liabilities and shareholders' equity. Entergy Gulf States Louisiana and Entergy Louisiana, both organized as limited liability companies, have outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provide for the election of board members that would not constitute a majority of the board; and their preferred securities are therefore classified for all periods presented as a component of members' equity in accordance with SFAS 160. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Asset Management (whose preferred holders also have protective rights as described in Note 6 to the financial statements in the Form 10-K) are similarly presented between liabilities and shareholders' equity in Entergy's consolidated financial statements and the outstanding preferred securities of Entergy Gulf States Louisiana and Entergy Louisiana are presented within total equity in Entergy's consolidated financial statements. The preferred dividends paid by all subsidiaries are reflected for all periods presented outside of consolidated net income in accordance with SFAS 160. The accompanying financial statements do not separately reconcile the beginning and ending balances of preferred securities because there is not a significant net change in the balance of the securities between periods. 6365000 0 -6365000 0 0 0 1346000 447000 503000 430000 1346000 447000 503000 430000 -23728000 -285280000 63986000 -464046000 -23728000 -285280000 63986000 -464046000 58649184 58815518 0 63088000 -2140471000 -2177993000 -150267000 -187310000 744794000 745504000 226813000 270954000 462148000 579703000 226813000 270954000 462148000 579703000 226813000 270954000 462148000 579703000 322452000 458941000 725830000 965691000 1369000 -2572000 -1758000 -3501000 NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $22,412 $22,598 Interest cost on projected benefit obligation 54,543 51,646 Expected return on assets (62,305) (57,640) Amortization of prior service cost 1,249 1,266 Amortization of loss 5,600 6,482 Net pension costs $21,499 $24,352 Entergy's qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $44,824 $45,196 Interest cost on projected benefit obligation 109,086 103,293 Expected return on assets (124,610) (115,279) Amortization of prior service cost 2,498 2,532 Amortization of loss 11,200 13,416 Net pension costs $42,998 $49,158 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,400 $1,748 $1,974 $995 $425 $917 $880 Interest cost on projected benefit obligation 11,761 5,279 6,940 3,676 1,470 3,935 2,139 Expected return on assets (12,187) (7,516) (8,197) (4,236) (1,815) (5,185) (2,766)Amortization of prior service cost 212 110 119 85 52 80 9 Amortization of loss 1,764 79 703 324 305 43 109 Net pension cost/(income) $4,950 ($300) $1,539 $844 $437 ($210) $371 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,584 $1,841 $2,058 $1,063 $445 $968 $930 Interest cost on projected benefit obligation 11,616 5,047 6,784 3,627 1,415 3,882 1,937 Expected return on assets (11,765) (7,165) (8,134) (4,075) (1,839) (5,047) (2,452)Amortization of prior service cost 223 110 119 90 52 80 9 Amortization of loss 2,303 115 920 485 319 156 90 Net pension cost/(income) $5,961 ($52) $1,747 $1,190 $392 $39 $514 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $6,800 $3,496 $3,948 $1,990 $850 $1,834 $1,760 Interest cost on projected benefit obligation 23,522 10,558 13,880 7,352 2,940 7,870 4,278 Expected return on assets (24,374) (15,032) (16,394) (8,472) (3,630) (10,370) (5,532)Amortization of prior service cost 424 220 238 170 104 160 18 Amortization of loss 3,528 158 1,406 648 610 86 218 Net pension cost/(income) $9,900 ($600) $3,078 $1,688 $874 ($420) $742 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $7,168 $3,682 $4,116 $2,126 $890 $1,936 $1,860 Interest cost on projected benefit obligation 23,232 10,094 13,568 7,254 2,830 7,764 3,874 Expected return on assets (23,530) (14,330) (16,268) (8,150) (3,678) (10,094) (4,904)Amortization of prior service cost 446 220 238 180 104 160 18 Amortization of loss 4,606 230 1,840 970 638 312 180 Net pension cost/(income) $11,922 ($104) $3,494 $2,380 $784 $78 $1,028 Entergy recognized $4.4 million and $4.3 million in pension cost for its non-qualified pension plans in the second quarters of 2009 and 2008, respectively. Entergy recognized $8.8 million and $8.5 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2009 and 2008, respectively. The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans in the second quarters of 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Second Quarter 2009 $99 $97 $6 $43 $20 $185 Non-Qualified Pension Cost Second Quarter 2008 $133 $78 $7 $54 $12 $227 The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans for the six months ended June 30, 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Six Months Ended June 30, 2009 $198 $194 $12 $86 $40 $370 Non-Qualified Pension Cost Six Months Ended June 30, 2008 $266 $156 $14 $108 $24 $454 Components of Net Other Postretirement Benefit Cost Entergy's other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $11,691 $11,800 Interest cost on APBO 18,816 17,824 Expected return on assets (5,871) (7,027)Amortization of transition obligation 933 957 Amortization of prior service cost (4,024) (4,104)Amortization of loss 4,743 3,890 Net other postretirement benefit cost $26,288 $23,340 Entergy's other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $23,382 $23,600 Interest cost on APBO 37,632 35,648 Expected return on assets (11,742) (14,054)Amortization of transition obligation 1,866 1,914 Amortization of prior service cost (8,048) (8,208)Amortization of loss 9,486 7,780 Net other postretirement benefit cost $52,576 $46,680 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,765 $1,196 $1,147 $530 $311 $619 $513 Interest cost on APBO 3,759 2,005 2,297 1,173 967 1,490 605 Expected return on assets (2,143) - - (757) (684) (1,556) (414)Amortization of transition obligation 205 60 96 88 416 66 2 Amortization of prior service cost (197) (77) 117 (62) 90 19 (245)Amortization of loss 2,087 494 553 657 381 799 320 Net other postretirement benefit cost $5,476 $3,678 $4,210 $1,629 $1,481 $1,437 $781 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,706 $1,251 $1,099 $514 $295 $606 $513 Interest cost on APBO 3,443 1,917 2,187 1,141 953 1,440 531 Expected return on assets (2,492) - - (905) (789) (1,885) (511)Amortization of transition obligation 205 84 96 88 415 66 2 Amortization of prior service cost (197) 146 117 (62) 90 72 (283)Amortization of loss 1,440 494 677 534 291 357 177 Net other postretirement benefit cost $4,105 $3,892 $4,176 $1,310 $1,255 $656 $429 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,530 $2,392 $2,294 $1,060 $622 $1,238 $1,026 Interest cost on APBO 7,518 4,010 4,594 2,346 1,934 2,980 1,210 Expected return on assets (4,286) - - (1,514) (1,368) (3,112) (828)Amortization of transition obligation 410 120 192 176 832 132 4 Amortization of prior service cost (394) (154) 234 (124) 180 38 (490)Amortization of loss 4,174 988 1,106 1,314 762 1,598 640 Net other postretirement benefit cost $10,952 $7,356 $8,420 $3,258 $2,962 $2,874 $1,562 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,412 $2,502 $2,198 $1,028 $590 $1,212 $1,026 Interest cost on APBO 6,886 3,834 4,374 2,282 1,906 2,880 1,062 Expected return on assets (4,984) - - (1,810) (1,578) (3,770) (1,022)Amortization of transition obligation 410 168 192 176 830 132 4 Amortization of prior service cost (394) 292 234 (124) 180 144 (566)Amortization of loss 2,880 988 1,354 1,068 582 714 354 Net other postretirement benefit cost $8,210 $7,784 $8,352 $2,620 $2,510 $1,312 $858 Employer Contributions Based on current assumptions, Entergy expects to contribute $132 million to its qualified pension plans in 2009. Guidance pursuant to the Pension Protection Act of 2006 rules, effective for the 2009 plan year and beyond, may affect the level of Entergy's pension contributions in the future. As of the end of July 2009, Entergy had contributed $95 million to its pension plans. Therefore, Entergy presently anticipates contributing an additional $37 million to fund its qualified pension plans in 2009. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans in 2009: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Expected 2009 pension contributions $24,635 $6,279 $7,623 $5,806 $1,107 $3,577 $4,734Pension contributions made through July 2009 $16,194 $3,428 $4,370 $3,731 $509 $2,325 $3,226Remaining estimated pension contributions to be made in 2009 $8,441 $2,851 $3,253 $2,075 $598 $1,252 $1,508 Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Medicare Act) Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 Accumulated Postretirement Benefit Obligation (APBO) by $187 million, and reduced the second quarter 2009 and 2008 other postretirement benefit cost by $6.0 million and $6.2 million, respectively. It reduced the six months ended June 30, 2009 and 2008 other postretirement benefit cost by $12.0 million and $12.4 million, respectively. In the second quarter 2009, Entergy received $0.1 million in Medicare subsidies for prescription drug claims. In the six months ended June 30, 2009, Entergy received $1.1 million in Medicare subsidies for prescription drug claims. Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 APBO and the second quarters 2009 and 2008 other postretirement benefit cost and the six months ended June 30, 2009 and 2008 other postretirement benefit cost for the Registrant Subsidiaries as follows: Entergy Entergy Entergy Gulf States Entergy Entergy New Entergy System Arkansas Louisiana Louisiana Mississippi Orleans Texas Energy (In Thousands)Reduction in 12/31/2008 APBO ($40,610) ($19,650) ($22,222) ($13,280) ($9,135) ($14,961) ($6,628)Reduction in second quarter 2009 other postretirement benefit cost ($1,235) ($814) ($695) ($391) ($261) ($240) ($231)Reduction in second quarter 2008 other postretirement benefit cost ($1,266) ($876) ($706) ($406) ($279) ($263) ($236)Reduction in six months ended June 30, 2009 other postretirement benefit cost ($2,470) ($1,628) ($1,390) ($782) ($522) ($480) ($462)Reduction in six months ended June 30, 2008 other postretirement benefit cost ($2,532) ($1,752) ($1,412) ($812) ($558) ($526) ($472)Medicare subsidies received in the second quarter 2009 $30 $ 18 $19 $11 $11 $14 $2 Medicare subsidies received in the six months ended June 30, 2009 $256 $162 $168 $84 $97 $105 $25 For further information on the Medicare Act refer to Note 11 to the financial statements in the Form 10-K. 289159000 288172000 5193000 0 -3963000 -12257000 - 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net of amount capitalized Deferred fuel Increase Decrease In Deferred Fuel Costs Fuel inventory Taxes accrued Interest accrued Increase Decrease In Interest Payable Net Receivables Changes in other regulatory assets Increase Decrease In Regulatory Assets And Liabilities Changes in credit line borrowings - net Accounts payable COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES [Text Block] Common stock, $.01 par value, authorized 500,000,000 shares; issued 254,772,087 shares in 2009 and 248,174,087 shares in 2008 Purchased power CURRENT LIABILITIES TOTAL Liabilities Current Customer deposits LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT [Text Block] Decommissioning trust funds Deferred fuel costs Deferred Fuel Cost Depreciation, amortization, and decommissioning RISK MANAGEMENT AND FAIR VALUES RISK MANAGEMENT AND FAIR VALUES [Text Block] Diluted Equity in earnings (loss) of unconsolidated equity affiliates Effect of exchange rates on cash and cash equivalents Electric Electric Utility Revenue Investment in affiliates - 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net Other interest - net OTHER INCOME TOTAL Nonoperating Income Expense Other Other Noncash Expense OTHER PROPERTY AND INVESTMENTS TOTAL Assets Noncurrent NON-CURRENT LIABILITIES TOTAL Liabilities Noncurrent Total OPERATING INCOME Operating Income Loss Other working capital accounts Net derivative instrument fair value changes arising during the period Pension and other postretirement liabilities Total Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Net unrealized investment gains (losses) Prepayments and other System agreement cost equalization Increase (decrease) in other investments Increase (decrease) in other investments Other Other, property and investments Miscellaneous - net Payment for purchase of plant Payment for purchase of plant Other Other Receivables Common stock Common stock Preferred stock Preferred stock RETIREMENT AND OTHER POSTRETIREMENT BENEFITS RETIREMENT AND OTHER POSTRETIREMENT BENEFITS [Text Block] Pension and other postretirement liabilities Pension and other postretirement current liabilities Insurance proceeds received for property damages Common stock and treasury stock Long-term debt Proceeds from nuclear decommissioning trust fund sales Proceeds from sale of assets and businesses Non-utility property - 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net Costs incurred for income taxes that would otherwise be charged to expense. These costs represent probable future revenues and are expected to be recovered from customers through the ratemaking process. Deferred fuel costs Carrying amount as of the balance sheet date of capitalized fuel costs of a regulated entity that are not expected to be recovered from customers within one year. Deferred fuel costs Carrying amount as of the balance sheet date of capitalized fuel costs of a regulated entity that are expected to be returned to customers through rate adjustments within one year. Deferred Fuel Costs Current Liabilities DEFERRED DEBITS AND OTHER ASSETS Deferred Debits And Other Assets [Abstract] Nuclear refueling outage expenses Amortization of costs deferred during nuclear refueling outages over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Other regulatory charges (credits) - net Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in the future. Proceeds from sale/leaseback of nuclear fuel The net cash inflow from any material that is commonly used in the generation of nuclear energy. Proceeds from sale/leaseback of nuclear fuel Changes in transition charge account Changes in the account in which recoveries from customers through a transition charge are deposited and and from which payments are made to service the securitization bonds issued by Entergy Gulf States Reconstruction Funding. NYPA value sharing payment Payments made under amended value sharing agreements with NYPA. SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Noncash financing activities: Total after additions Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: Retained Earnings Total After Additions Reserve for regulatory adjustments The provision recorded in the period the offset to which is either a reduction or an increase in a regulatory asset or liability. Consolidated net income Adjustments to reconcile consolidated net income to net cash flow Changes in working capital: Nuclear fuel purchases The net cash outflow from any material that is commonly used in the generation of nuclear energy. Proceeds from the issuance of: Dividends paid: Deferred nuclear refueling outage costs Costs deferred during a nuclear refueling outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Cash and cash equivalents [Abstract] Cash and cash equivalents: Accounts receivable [Abstract] Accounts receivable: System agreement cost equalization assets System agreement cost equalization Carrying amount as of the balance sheet date of the System Agreement cost equalization payments that are expected to be recovered through Entergy Arkansas' production cost allocation rider within one year. Natural gas Period end amount of property, plant and equipment (PPE) related to transmission and distribution of natural gas for resale owned by public utility. Regulatory asset [Abstract] Regulatory assets: Other regulatory assets Carrying amount as of the balance sheet date of capitalized costs of regulated entities that are not expected to be recovered through revenue sources within one year or the normal operating cycle if longer and are not specifically broken out elsewhere in the balance sheet. Common Shareholders' Equity: PAID-IN CAPITAL TOTAL Total Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders COMMITMENTS AND CONTINGENCIES Commitments and Contingencies [Abstract] Notes RATE AND REGULATORY MATTERS EQUITY LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT STOCK-BASED COMPENSATION RETIREMENT AND OTHER POSTRETIREMENT BENEFITS BUSINESS SEGMENT INFORMATION RISK MANAGEMENT AND FAIR VALUES DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Decommissioning Trust Asset Description DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Describes decommissioning trust assets. May include disclosures such as the purpose of the funds, funding requirements, regulatory authorities and related cost recovery aspects. INCOME TAXES NEW ACCOUNTING PRONOUNCEMENTS New Accounting Pronouncements [Text Block] NEW ACCOUNTING PRONOUNCEMENTS Description of New Accounting Pronouncements Not yet Adopted PARENTHETICAL DATA FOR CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID-IN CAPITAL Accrued unbilled revenues Unbilled amounts due for services rendered or products shipped. This element is distinct from unbilled contracts receivables because this is based on noncontract transactions. Fuel inventory - at average cost Fossil fuel inventory held for consumption in the production of energy. Statement [Table] Statement [Line Items] Common stock, par value Common stock, shares authorized Common stock, shares issued Treasury stock, shares Utility Plant [Domain] Electricity Generation Plant, Non-Nuclear [Member] Natural Gas Processing Plant [Member] Cash Goodwill Commitments and Contingencies Regulatory Asset [Axis] Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle Other Comprehensive Income, Foreign Currency Translation Adjustment, Tax Other Comprehensive Income, Available-for-sale Securities, Tax Other Comprehensive Income, Defined Benefit Plans, Tax Other Comprehensive Income, Derivatives Qualifying as Hedges, Tax Effect Statement, Equity Components [Axis] Equity Component [Domain] Retained Earnings [Member] Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] Accumulated Defined Benefit Plans Adjustment [Member] Accumulated Net Unrealized Investment Gain (Loss) [Member] Accumulated Translation Adjustment [Member] Accumulated Other Comprehensive Income [Member] Additional Paid-in Capital [Member] Comprehensive Income [Member] Other operation and maintenance Increase (Decrease) in Regulatory Liabilities Accumulated change in equity for balance sheet purposes from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. 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STOCK-BASED COMPENSATION Entergy grants stock options, which are described more fully in Note 12 to the financial statements in the Form 10-K. Awards under Entergy's plans generally vest over three years. The following table includes financial information for stock options for the second quarter and six months ended June 30 for each of the years presented: 2009 2008 (In Millions) Compensation expense included in Entergy's Net Income for the second quarter $4.2 $4.7Tax benefit recognized in Entergy's Net Income for the second quarter $1.6 $1.8 Compensation expense included in Entergy's Net Income for the six months ended June 30, $8.5 $9.1Tax benefit recognized in Entergy's Net Income for the six months ended June 30, $3.3 $3.5Compensation cost capitalized as part of fixed assets and inventory as of June 30, $1.6 $1.7 Entergy granted 1,084,800 stock options during the first quarter 2009 with a weighted-average fair value of $12.47. 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LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT Entergy Corporation has in place a credit facility that expires in August 2012 and has a borrowing capacity of $3.5 billion. Entergy Corporation also has the ability to issue letters of credit against the total borrowing capacity of the credit facility. The facility fee is currently 0.09% of the commitment amount. Facility fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation. The weighted average interest rate as of June 30, 2009 was 1.597% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of June 30, 2009. Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $2,435 $28 $1,037 Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization. Entergy is in compliance with this covenant. If Entergy fails to meet this ratio, or if Entergy or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy Texas each had credit facilities available as of June 30, 2009 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of June 30, 2009 Entergy Arkansas April 2010 $88 million (b) 5.0% -Entergy Gulf States Louisiana August 2012 $100 million (c) 0.785% -Entergy Louisiana August 2012 $200 million (d) 0.72% -Entergy Mississippi May 2010 $35 million (e) 2.06% -Entergy Mississippi May 2010 $25 million (e) 2.06% -Entergy Texas August 2012 $100 million (f) 0.785% - (a) The interest rate is the weighted average interest rate as of June 30, 2009 that would be applied to the outstanding borrowings under the facility.(b) The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization and contains an interest rate floor of 5%. Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable.(c) The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization. Pursuant to the terms of the credit agreement, the amount of debt assumed by Entergy Texas ($699 million as of June 30, 2009 and $770 million as of December 31, 2008) is excluded from debt and capitalization in calculating the debt ratio.(d) The credi t facility allows Entergy Louisiana to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Louisiana to maintain a consolidated debt ratio of 65% or less of its total capitalization.(e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable. Entergy Mississippi is required to maintain a consolidated debt ratio of 65% or less of its total capitalization.(f) The credit facility allows Entergy Texas to issue letters of credit against the borrowing capacity of the facility. As of June 30, 2009, no letters of credit were outstanding. The credit facility requires Entergy Texas to maintain a consolidated debt ratio of 65% or less of its total capitalization. Pursuant to the terms of the credit agreement, the transition bonds issued by Entergy Gulf States Reconstruction Funding I, LLC, a subsidiary of Entergy Texas, are exclude d from debt and capitalization in calculating the debt ratio. The facility fees on the credit facilities range from 0.09% to 0.15% of the commitment amount. The short-term borrowings of the Registrant Subsidiaries and certain other Entergy subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through March 31, 2010 (except Entergy Gulf States Louisiana and Entergy Texas, which are effective through November 8, 2009). In addition to borrowings from commercial banks, these companies are authorized under a FERC order to borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries' dependence on external short-term borrowings. Borrowings from the money pool and external borrowings combined may not exceed the FERC-authorized limits. As of June 30, 2009, Entergy's subsidiaries' aggregate money pool and external short-term borrowings authorized limit was $2.2 billion, the aggregate outstanding borrowing from the money pool was $415 million, and Entergy's subsidiaries had no outstanding short-term borrowing from external sources. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries as of June 30, 2009: Authorized Borrowings (In Millions) Entergy Arkansas $250 -Entergy Gulf States Louisiana $200 -Entergy Louisiana $250 -Entergy Mississippi $175 -Entergy New Orleans $100 -Entergy Texas $200 -System Energy (a) $200 - (a) In May 2009, 364-day letters of credit in the aggregate amount of approximately $179 million were issued pursuant to System Energy's short-term borrowing authority to the owner participants in System Energy's 1988 sale and leaseback of interests in Grand Gulf. Entergy Texas Note Payable to Entergy Corporation In December 2008, Entergy Texas borrowed $160 million from its parent company, Entergy Corporation, under a $300 million revolving credit facility pursuant to an Inter-Company Credit Agreement between Entergy Corporation and Entergy Texas. The note had a December 3, 2013 maturity date. Entergy Texas used the proceeds, together with other available corporate funds, to pay at maturity the portion of the $350 million Floating Rate series of First Mortgage Bonds due December 2008 that had been assumed by Entergy Texas, and that bond series is no longer outstanding. In January 2009, Entergy Texas repaid its $160 million note payable to Entergy Corporation with the proceeds from the bond issuance discussed below. Debt Issuances (Entergy Mississippi) In June 2009, Entergy Mississippi issued $150 million of 6.64% Series First Mortgage Bonds due July 2019. Entergy Mississippi used the proceeds to repay outstanding borrowings on its credit facilities, to repay short-term borrowings under the Entergy System money pool, and for other general corporate purposes. (Entergy Texas) In January 2009, Entergy Texas issued $500 million of 7.125% Series Mortgage Bonds due February 2019. Entergy Texas used a portion of the proceeds to repay its $160 million note payable to Entergy Corporation, to repay the $100 million outstanding on its credit facility, to repay short-term borrowings under the Entergy System money pool, and to repay prior to maturity the following obligations that had been assumed by Entergy Texas under the debt assumption agreement with Entergy Gulf States Louisiana: Governmental Bonds share assumed under debt assumption agreement: Amount (In Thousands) 6.75% Series due 2012, Calcasieu Parish $22,1156.7% Series due 2013, Point Coupee Parish $7,9907.0% Series due 2015, West Feliciana Parish $22,4006.6% Series due 2028, West Feliciana Parish $18,320 Entergy Texas used the remaining proceeds for other general corporate purposes. In May 2009, Entergy Texas issued $150 million of 7.875% Series Mortgage Bonds due June 2039. Entergy Texas intends to use the proceeds to repay on or prior to maturity $100,509,000 of the Floating Rate Series Mortgage Bonds due December 2009 that had been assumed by Entergy Texas under the debt assumption agreement with Entergy Gulf States Louisiana and for other general corporate purposes. A portion of the net proceeds were used to repay borrowings from the Entergy System money pool and invested in temporary cash investments and the Entergy System money pool. Fair Value In the second quarter 2009, Entergy adopted FSP FAS 107-1 and APB 28-1, "Interim Disclosures about Fair Value of Financial Instruments" (FSP 107-1 and APB 28-1). FSP 107-1 and APB 28-1 relates to fair value disclosures for all financial instruments not measured on the balance sheet at fair value, and requires these disclosures on a quarterly basis. The book value and the fair value of the long-term debt for Entergy Corporation and the Registrant Subsidiaries as of June 30, 2009 are as follows: Book Value of Long-Term Debt (a) Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $10,101,963 $10,096,781Entergy Arkansas $1,437,814 $1,430,055Entergy Gulf States Louisiana $1,976,642 $1,960,959Entergy Louisiana $1,139,764 $1,170,861Entergy Mississippi $845,267 $834,847Entergy New Orleans $198,019 $188,392Entergy Texas $1,651,379 $1,681,609System Energy $478,074 $445,194 (a) The values exclude lease obligations of $241 million at Entergy Louisiana and $267 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, affiliate notes payable of $74 million at Entergy New Orleans, and the note payable to NYPA of $200 million at Entergy, and include debt due within one year. (b) The fair value is determined using bid prices reported by dealer markets and by nationally recognized investment banking firms. NOTE 4. LINES OF CREDIT, RELATED SHORT-TERM BORROWINGS, AND LONG-TERM DEBT Entergy Corporation has in place a credit facility that expires in August 2012 and false false No definition available. 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RATE AND REGULATORY MATTERS Regulatory Assets See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets in the Utility business reflected on the balance sheets of Entergy and the Registrant Subsidiaries. Following are updates to that discussion. Fuel and purchased power cost recovery See Note 2 to the financial statements in the Form 10-K for information regarding fuel proceedings involving the Utility operating companies. Following are updates to that information. Entergy Arkansas Energy Cost Recovery Rider In March 2009, Entergy Arkansas filed with the APSC its annual energy cost rate for the period April 2009 through March 2010. The filed energy cost rate decreased from $0.02456/kWh to $0.01552/kWh. The decrease was caused by the following: 1) all three of the nuclear power plants from which Entergy Arkansas obtains power, ANO 1 and 2 and Grand Gulf, had refueling outages in 2008, and the previous energy cost rate had been adjusted to account for the replacement power costs that would be incurred while these units were down; 2) Entergy Arkansas has a deferred fuel cost liability from over-recovered fuel costs at December 31, 2008, as compared to a deferred fuel cost asset from under-recovered fuel costs at December 31, 2007; offset by 3) an increase in the fuel and purchased power prices included in the calculation. Entergy Mississippi On June 30, 2009, the MPSC issued an order stating that it may hire an independent audit firm to audit Entergy Mississippi's fuel adjustment clause or other mechanism directly related to the purchase of fuel or energy for the period October 2007 through September 2009. Entergy Texas In January 2008, Entergy Texas made a compliance filing with the PUCT describing how its 2007 Rough Production Cost Equalization receipts under the System Agreement were allocated between Entergy Gulf States, Inc.'s Texas and Louisiana jurisdictions. A hearing was held at the end of July 2008, and in October 2008 the ALJ issued a proposal for decision recommending an additional $18.6 million allocation to Texas retail customers. The PUCT adopted the ALJ's proposal for decision in December 2008. Because the PUCT allocation to Texas retail customers is inconsistent with the LPSC allocation to Louisiana retail customers, adoption of the proposal for decision by the PUCT could result in trapped costs between the Texas and Louisiana jurisdictions with no mechanism for recovery. The PUCT denied Entergy Texas' motion for rehearing and Entergy Texas commenced proceedings in both state and federal district courts seeking to reverse the PUCT's decision. On May 12, 2009, certain defendants, in their official capa cities as Commissioners of the PUCT, filed a motion to dismiss Entergy Texas' pending complaint before the U.S. District Court for the Western District of Texas. The federal proceeding, including a ruling on the motion to dismiss, has been abated pending further action by the FERC in the proceeding discussed below. Entergy Texas also filed with the FERC a proposed amendment to the System Agreement bandwidth formula to specifically calculate the payments to Entergy Gulf States Louisiana and Entergy Texas of Entergy Gulf States, Inc.'s rough production cost equalization receipts for 2007. On May 8, 2009, the FERC issued an order rejecting the proposed amendment, stating, among other things, that the FERC does not have jurisdiction over the allocation of an individual utility's receipts/payments among or between its retail jurisdictions and that this was a matter for the courts to review in the pending proceedings noted above. Because of the FERC's order, Entergy Texas recorded the effects of the PUCT's allocation of the additional $18.6 million to retail customers in the second quarter of 2009. On an after-tax basis, the charge to earnings was approximately $13.0 million (including interest). Entergy requested rehearing of the FERC's order, and on July 8, 2009, the FERC granted the request for rehearing for the limi ted purpose of affording more time for consideration of Entergy's request. In May 2009, Entergy Texas filed with the PUCT a request to refund $46.1 million, including interest, of fuel cost recovery over-collections through February 2009. Entergy Texas requested that the proposed refund be made over a four-month period beginning June 2009. Pursuant to a stipulation among the various parties, in June 2009 the PUCT issued an order approving a refund of $59.2 million, including interest, of fuel cost recovery overcollections through March 2009. The refund will be made over a three-month period beginning July 2009. Storm Cost Recovery Filings Entergy Arkansas Storm Reserve Accounting The APSC's June 2007 order in Entergy Arkansas' base rate proceeding, which is discussed in the Form 10-K, eliminated storm reserve accounting for Entergy Arkansas. In March 2009 a law was enacted in Arkansas that requires the APSC to permit storm reserve accounting for utilities that request it. Entergy Arkansas filed its request with the APSC, and has reinstated storm reserve accounting effective January 1, 2009. Entergy Arkansas January 2009 Ice Storm In January 2009 a severe ice storm caused significant damage to Entergy Arkansas' transmission and distribution lines, equipment, poles, and other facilities. The current cost estimate for the damage caused by the ice storm is approximately $120 million to $140 million, of which approximately $65 million to $80 million is estimated to be operating and maintenance type costs and the remainder is estimated to be capital investment. On January 30, 2009, the APSC issued an order inviting and encouraging electric public utilities to file specific proposals for the recovery of extraordinary storm restoration expenses associated with the ice storm. Although Entergy Arkansas has not yet filed a proposal for the method of recovery of its costs, on February 16, 2009, it did file a request with the APSC for an accounting order authorizing deferral of the operating and maintenance cost portion of Entergy Arkansas' ice storm restoration costs pending their recovery. The APSC issued such an order in March 2009 subjec t to certain conditions, including that if Entergy Arkansas seeks to recover the deferred costs, those costs will be subject to investigation for whether they are incremental, prudent, and reasonable. Entergy Arkansas is still analyzing its options for the method of recovery of the ice storm restoration costs. One option is securitization, and in April 2009 a law was enacted in Arkansas that authorizes securitization of storm damage restoration costs. Entergy Gulf States Louisiana and Entergy Louisiana Hurricane Gustav and Hurricane Ike Filing See the Form 10-K for a discussion of Hurricane Gustav and Hurricane Ike, which caused catastrophic damage to portions of Entergy's service territories in Louisiana in September 2008. Entergy Gulf States Louisiana and Entergy Louisiana filed their Hurricane Gustav and Hurricane Ike storm cost recovery case with the LPSC in May 2009. Entergy Gulf States Louisiana seeks a determination that $150.7 million of storm restoration costs are recoverable and seeks to replenish its storm reserve in the amount of $90 million. Entergy Louisiana seeks a determination that $261.9 million of storm restoration costs are recoverable and seeks to replenish its storm reserve in the amount of $200 million. The storm restoration costs are net of costs that have already been paid from previously funded storm reserves. Entergy Gulf States Louisiana and Entergy Louisiana expect to make a supplemental filing to, among other things, recommend a recovery method for costs approved by the LPSC. The parties have agreed to a proced ural schedule that includes March 2010 hearing dates for both the recoverability and the method of recovery proceedings. Recovery options include traditional base rate recovery, Louisiana Act 64 (passed in 2006) financing, or Louisiana Act 55 (passed in 2007) financing. Entergy Gulf States Louisiana and Entergy Louisiana recovered their costs from Hurricane Katrina and Hurricane Rita primarily by Act 55 financing. Entergy Texas Hurricane Ike and Hurricane Gustav Filing See the Form 10-K for a discussion of Hurricane Gustav and Hurricane Ike, which caused catastrophic damage to portions of Entergy's service territory in Texas in September 2008. In April 2009 a law was enacted in Texas that authorizes recovery of these types of costs by securitization. Entergy Texas filed its storm cost recovery case in April 2009 seeking a determination that $577.5 million of Hurricane Ike and Hurricane Gustav restoration costs are recoverable, including estimated costs for work to be completed. On August 5, 2009, Entergy Texas submitted to the ALJ an unopposed settlement agreement that will, if approved, resolve all issues in the storm cost recovery case. Under the terms of the agreement $566.4 million, plus carrying costs, are eligible for recovery. In addition, $70 million in anticipated insurance proceeds will be credited as an offset to the securitized amount, subject to true-up based on actual proceeds received. Of the $11.1 million difference between Entergy Texas' request and the amount agreed to, which is part of the black box agreement and not directly attributable to any specific individual issues raised, $6.8 million is operation and maintenance expense for which Entergy Texas has recorded a charge in the second quarter 2009. The remaining $4.3 million will be recorded as utility plant. The PUCT is expected to consider the agreement at its August 13, 2009, meeting. On July 16, 2009, Entergy Texas also made its financing request filing seeking approval to recover its approved costs, plus carrying costs, by securitization. A prehearing conference was held on August 4, 2009, and the ALJ ordered a procedural schedule that includes a September 25, 2009, hearing date. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for information regarding retail rate proceedings involving the Utility operating companies. The following are updates to the Form 10-K. Filings with the APSC Retail Rates See the Form 10-K for a discussion of the rate filing made by Entergy Arkansas and the proceedings regarding that filing. On April 23, 2009, the Arkansas Supreme Court denied Entergy Arkansas' petition for review of the Court of Appeals decision. On July 2, 2009, Entergy Arkansas filed a notice with the APSC of its intention to file within 60 to 90 days for a general change in rates, charges, and tariffs. Entergy Arkansas plans to file the rate case in September 2009. Filings with the LPSC Retail Rates - Electric (Entergy Gulf States Louisiana and Entergy Louisiana) In July 2009 the LPSC issued an order noting that the LPSC Staff and Entergy are continuing in negotiations that could result in the recommendation for the adoption of new Formula Rate Plans for Entergy Gulf States Louisiana and Entergy Louisiana, and the LPSC Staff will report to the LPSC on the progress of those negotiations at the LPSC's September meeting. In the interim Entergy Gulf States Louisiana's and Entergy Louisiana's base rates will remain unchanged. Entergy Gulf States Louisiana and Entergy Louisiana will both implement previously approved capacity cost adjustments. Entergy Gulf States Louisiana's net increase in capacity costs of $5 million will be deferred for future recovery. Entergy Louisiana's net decrease in capacity costs of $17 million will be used to increase the storm reserve accrual. (Entergy Louisiana) In May 2007, Entergy Louisiana made its formula rate plan filing with the LPSC for the 2006 test year, indicating a 7.6% earned return on common equity. That filing included Entergy Louisiana's request to recover $39.8 million in unrecovered fixed costs associated with the loss of customers that resulted from Hurricane Katrina, a request that was reduced to $31.7 million. In September 2007, Entergy Louisiana modified its formula rate plan filing to reflect its implementation of certain adjustments proposed by the LPSC Staff in its review of Entergy Louisiana's original filing with which Entergy Louisiana agreed, and to reflect its implementation of an $18.4 million annual formula rate plan increase comprised of (1) a $23.8 million increase representing 60% of Entergy Louisiana's revenue deficiency, and (2) a $5.4 million decrease for reduced incremental and deferred capacity costs. The LPSC authorized Entergy Louisiana to defer for accounting purposes the difference between its $39.8 million claim, now a t $31.7 million, for unrecovered fixed cost and 60% of the revenue deficiency to preserve Entergy Louisiana's right to pursue that claim in full during the formula rate plan proceeding. In October 2007, Entergy Louisiana implemented a $7.1 million formula rate plan decrease that was due primarily to the reclassification of certain franchise fees from base rates to collection via a line item on customer bills pursuant to an LPSC Order. The LPSC staff and intervenors recommended disallowance of certain costs included in Entergy Louisiana's filing. Entergy Louisiana disagrees with the majority of the proposed disallowances and a hearing on the disputed issues was held in late-September/early-October 2008. In March 2009 the ALJ issued a proposed recommendation, which does not allow recovery of the unrecovered fixed costs and also disallows recovery of all costs associated with Entergy's stock option plan. Entergy Louisiana has filed exceptions to the ALJ's proposed recommendation. Retail Rates - Gas (Entergy Gulf States Louisiana) In January 2009, Entergy Gulf States Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2008. The filing showed a revenue deficiency of $529 thousand based on a return on common equity mid-point of 10.5%. In April 2009, Entergy Gulf States Louisiana implemented a $255 thousand rate increase pursuant to an uncontested settlement with the LPSC staff. Filings with the MPSC In March 2009, Entergy Mississippi made with the MPSC its annual scheduled formula rate plan filing for the 2008 test year. The filing reported a $27.0 million revenue deficiency and an earned return on common equity of 7.41%. Entergy Mississippi requested a $14.5 million increase in annual electric revenues, which is the maximum increase allowed under the terms of the formula rate plan. The MPSC issued an order on June 30, 2009, finding that Entergy Mississippi's earned return was sufficiently below the lower bandwidth limit set by the formula rate plan to require a $14.5 million increase in annual revenues, effective for bills rendered on or after June 30, 2009. In March 2008, Entergy Mississippi made its annual scheduled formula rate plan filing for the 2007 test year with the MPSC. The filing showed that a $10.1 million increase in annual electric revenues is warranted. In June 2008, Entergy Mississippi reached a settlement with the Mississippi Public Utilities Staff that would result in a $3.8 million rate increase. In January 2009 the MPSC rejected the settlement and left the current rates in effect. Entergy Mississippi appealed the MPSC's decision to the Mississippi Supreme Court. After the decision of the MPSC regarding the formula rate plan filing for the 2008 test year, Entergy Mississippi filed a motion to dismiss its appeal to the Mississippi Supreme Court. Filings with the City Council Retail Rates As discussed in the Form 10-K, on July 31, 2008, Entergy New Orleans filed an electric and gas base rate case with the City Council. On April 2, 2009, the City Council approved a comprehensive settlement. The settlement provides for a net $35.3 million reduction in combined fuel and non-fuel revenue requirement, including conversion of the $10.6 million voluntary recovery credit to a permanent reduction and complete realignment of Grand Gulf cost recovery from fuel to base rates, and a $4.95 million gas rate increase, both effective June 1, 2009. A new three-year formula rate plan was also adopted, with terms including an 11.1% electric return on common equity (ROE) with a +/- 40 basis point bandwidth and a 10.75% gas ROE with a +/- 50 basis point bandwidth. Earnings outside the bandwidth reset to the midpoint ROE, with the difference flowing prospectively to customers or Entergy New Orleans depending on whether Entergy New Orleans is over- or under-earning. The formula rate plan also includes a recove ry mechanism for City Council-approved capacity additions, plus provisions for extraordinary cost changes and force majeure. Fuel Adjustment Clause Litigation See the Form 10-K for a discussion of the lawsuit filed by a group of ratepayers in April 1999 against Entergy New Orleans, Entergy Corporation, Entergy Services, and Entergy Power in state court in Orleans Parish purportedly on behalf of all Entergy New Orleans ratepayers. In February 2004, the City Council approved a resolution that resulted in a refund to customers of $11.3 million, including interest, during the months of June through September 2004. In May 2005 the Civil District Court for the Parish of Orleans affirmed the City Council resolution, finding no support for the plaintiffs' claim that the refund amount should be higher. In June 2005, the plaintiffs appealed the Civil District Court decision to the Louisiana Fourth Circuit Court of Appeal. On February 25, 2008, the Fourth Circuit Court of Appeal issued a decision affirming in part, and reversing in part, the Civil District Court's decision. Although the Fourth Circuit Court of Appeal did not reverse any of the substantive findings and c onclusions of the City Council or the Civil District Court, the Fourth Circuit found that the amount of the refund was arbitrary and capricious and increased the amount of the refund to $34.3 million. In April 2009 the Louisiana Supreme Court reversed the decision of the Louisiana Fourth Circuit Court of Appeal and reinstated the decision of the Civil District Court. On April 17, 2009, the plaintiffs requested rehearing by the Louisiana Supreme Court. On May 29, 2009, the Louisiana Supreme Court denied the request for rehearing. Filings with the PUCT and Texas Cities (Entergy Texas) Retail Rates As discussed in the Form 10-K, Entergy Texas made a rate filing in September 2007 with the PUCT requesting an annual rate increase totaling $107.5 million, including a base rate increase of $64.3 million and riders totaling $43.2 million. On December 16, 2008, Entergy Texas filed a term sheet that reflected a settlement agreement that included the PUCT Staff and the other active participants in the rate case. On December 19, 2008, the ALJs approved Entergy Texas' request to implement interim rates reflecting the agreement. The agreement includes a $46.7 million base rate increase, among other provisions. Under the ALJs' interim order, Entergy Texas implemented interim rates, subject to refund and surcharge, reflecting the rates established through the settlement. These rates became effective with bills rendered on and after January 28, 2009, for usage on and after December 19, 2008. In addition, the existing recovery mechanism for incremental purchased power capacity costs ceased as of Ja nuary 28, 2009, with purchased power capacity costs then subsumed within the base rates set in this proceeding. Certain Texas municipalities exercised their original jurisdiction and took final action to approve rates consistent with the interim rates approved by the ALJs. In March 2009, the PUCT approved the settlement, which made the interim rates final, and this PUCT decision is now final and non-appealable. Electric Industry Restructuring in Texas See Note 2 to the financial statements in the Form 10-K for a discussion of electric restructuring activity that involves Entergy Texas. In June 2009, a law was enacted in Texas that requires Entergy Texas to cease all activities relating to Entergy Texas' transition to competition. The law allows Entergy Texas to remain a part of the SERC Region, although it does not prevent Entergy Texas from joining the Southwest Power Pool. The law provides that any further proceedings to certify a power region that Entergy Texas belongs to as a qualified power region can be initiated by the PUCT, or on motion by another party, when the conditions supporting such a proceeding exist. Under the new law, the PUCT may not approve a transition to competition plan for Entergy Texas until the expiration of four years from the PUCT's certification of Entergy Texas' power region. In response to the new law, Entergy Texas in June 2009 gave notice to the PUCT of the withdrawal of its transition to competition plan, and reques ted that its transition to competition proceeding be dismissed. In July 2009 the ALJ dismissed the proceeding. The new law also contains provisions that allow Entergy Texas to be included in a cost recovery mechanism that permits annual filings for the recovery of reasonable and necessary expenditures for transmission infrastructure improvement and changes in wholesale transmission charges. This mechanism was previously available to other non ERCOT Texas utility companies, but not to Entergy Texas. The new law further amends already existing law that had required Entergy Texas to propose for PUCT approval a tariff to allow eligible customers the ability to contract for competitive generation. The amending language in the new law provides, among other things, that: 1) the tariff shall not be implemented in a manner that harms the sustainability or competitiveness of manufacturers who choose not to participate in the tariff; 2) Entergy Texas shall "purchase competitive generation service, selected by the customer, and provide the generation at retail to the customer"; and 3) Entergy Texas shall provide and price transmission service and ancillary services under that tariff at a rate that is unbundled from its cost of service. The new law directs that the PUCT may not issue an order on the tariff that is contrary to an applicable decision, rule, or policy statement of a federal regulatory agency having jurisdiction. Entergy Texas has thus far not made a filing with the PUCT in response to the newl y adopted law addressing the tariff. The new law provides that the PUCT shall approve, reject, or modify the proposed tariff not later than September 1, 2010. NOTE 2. 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RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $22,412 $22,598 Interest cost on projected benefit obligation 54,543 51,646 Expected return on assets (62,305) (57,640) Amortization of prior service cost 1,249 1,266 Amortization of loss 5,600 6,482 Net pension costs $21,499 $24,352 Entergy's qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $44,824 $45,196 Interest cost on projected benefit obligation 109,086 103,293 Expected return on assets (124,610) (115,279) Amortization of prior service cost 2,498 2,532 Amortization of loss 11,200 13,416 Net pension costs $42,998 $49,158 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,400 $1,748 $1,974 $995 $425 $917 $880 Interest cost on projected benefit obligation 11,761 5,279 6,940 3,676 1,470 3,935 2,139 Expected return on assets (12,187) (7,516) (8,197) (4,236) (1,815) (5,185) (2,766)Amortization of prior service cost 212 110 119 85 52 80 9 Amortization of loss 1,764 79 703 324 305 43 109 Net pension cost/(income) $4,950 ($300) $1,539 $844 $437 ($210) $371 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,584 $1,841 $2,058 $1,063 $445 $968 $930 Interest cost on projected benefit obligation 11,616 5,047 6,784 3,627 1,415 3,882 1,937 Expected return on assets (11,765) (7,165) (8,134) (4,075) (1,839) (5,047) (2,452)Amortization of prior service cost 223 110 119 90 52 80 9 Amortization of loss 2,303 115 920 485 319 156 90 Net pension cost/(income) $5,961 ($52) $1,747 $1,190 $392 $39 $514 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $6,800 $3,496 $3,948 $1,990 $850 $1,834 $1,760 Interest cost on projected benefit obligation 23,522 10,558 13,880 7,352 2,940 7,870 4,278 Expected return on assets (24,374) (15,032) (16,394) (8,472) (3,630) (10,370) (5,532)Amortization of prior service cost 424 220 238 170 104 160 18 Amortization of loss 3,528 158 1,406 648 610 86 218 Net pension cost/(income) $9,900 ($600) $3,078 $1,688 $874 ($420) $742 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $7,168 $3,682 $4,116 $2,126 $890 $1,936 $1,860 Interest cost on projected benefit obligation 23,232 10,094 13,568 7,254 2,830 7,764 3,874 Expected return on assets (23,530) (14,330) (16,268) (8,150) (3,678) (10,094) (4,904)Amortization of prior service cost 446 220 238 180 104 160 18 Amortization of loss 4,606 230 1,840 970 638 312 180 Net pension cost/(income) $11,922 ($104) $3,494 $2,380 $784 $78 $1,028 Entergy recognized $4.4 million and $4.3 million in pension cost for its non-qualified pension plans in the second quarters of 2009 and 2008, respectively. Entergy recognized $8.8 million and $8.5 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2009 and 2008, respectively. The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans in the second quarters of 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Second Quarter 2009 $99 $97 $6 $43 $20 $185 Non-Qualified Pension Cost Second Quarter 2008 $133 $78 $7 $54 $12 $227 The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans for the six months ended June 30, 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Six Months Ended June 30, 2009 $198 $194 $12 $86 $40 $370 Non-Qualified Pension Cost Six Months Ended June 30, 2008 $266 $156 $14 $108 $24 $454 Components of Net Other Postretirement Benefit Cost Entergy's other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $11,691 $11,800 Interest cost on APBO 18,816 17,824 Expected return on assets (5,871) (7,027)Amortization of transition obligation 933 957 Amortization of prior service cost (4,024) (4,104)Amortization of loss 4,743 3,890 Net other postretirement benefit cost $26,288 $23,340 Entergy's other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $23,382 $23,600 Interest cost on APBO 37,632 35,648 Expected return on assets (11,742) (14,054)Amortization of transition obligation 1,866 1,914 Amortization of prior service cost (8,048) (8,208)Amortization of loss 9,486 7,780 Net other postretirement benefit cost $52,576 $46,680 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,765 $1,196 $1,147 $530 $311 $619 $513 Interest cost on APBO 3,759 2,005 2,297 1,173 967 1,490 605 Expected return on assets (2,143) - - (757) (684) (1,556) (414)Amortization of transition obligation 205 60 96 88 416 66 2 Amortization of prior service cost (197) (77) 117 (62) 90 19 (245)Amortization of loss 2,087 494 553 657 381 799 320 Net other postretirement benefit cost $5,476 $3,678 $4,210 $1,629 $1,481 $1,437 $781 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,706 $1,251 $1,099 $514 $295 $606 $513 Interest cost on APBO 3,443 1,917 2,187 1,141 953 1,440 531 Expected return on assets (2,492) - - (905) (789) (1,885) (511)Amortization of transition obligation 205 84 96 88 415 66 2 Amortization of prior service cost (197) 146 117 (62) 90 72 (283)Amortization of loss 1,440 494 677 534 291 357 177 Net other postretirement benefit cost $4,105 $3,892 $4,176 $1,310 $1,255 $656 $429 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,530 $2,392 $2,294 $1,060 $622 $1,238 $1,026 Interest cost on APBO 7,518 4,010 4,594 2,346 1,934 2,980 1,210 Expected return on assets (4,286) - - (1,514) (1,368) (3,112) (828)Amortization of transition obligation 410 120 192 176 832 132 4 Amortization of prior service cost (394) (154) 234 (124) 180 38 (490)Amortization of loss 4,174 988 1,106 1,314 762 1,598 640 Net other postretirement benefit cost $10,952 $7,356 $8,420 $3,258 $2,962 $2,874 $1,562 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,412 $2,502 $2,198 $1,028 $590 $1,212 $1,026 Interest cost on APBO 6,886 3,834 4,374 2,282 1,906 2,880 1,062 Expected return on assets (4,984) - - (1,810) (1,578) (3,770) (1,022)Amortization of transition obligation 410 168 192 176 830 132 4 Amortization of prior service cost (394) 292 234 (124) 180 144 (566)Amortization of loss 2,880 988 1,354 1,068 582 714 354 Net other postretirement benefit cost $8,210 $7,784 $8,352 $2,620 $2,510 $1,312 $858 Employer Contributions Based on current assumptions, Entergy expects to contribute $132 million to its qualified pension plans in 2009. Guidance pursuant to the Pension Protection Act of 2006 rules, effective for the 2009 plan year and beyond, may affect the level of Entergy's pension contributions in the future. As of the end of July 2009, Entergy had contributed $95 million to its pension plans. Therefore, Entergy presently anticipates contributing an additional $37 million to fund its qualified pension plans in 2009. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans in 2009: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Expected 2009 pension contributions $24,635 $6,279 $7,623 $5,806 $1,107 $3,577 $4,734Pension contributions made through July 2009 $16,194 $3,428 $4,370 $3,731 $509 $2,325 $3,226Remaining estimated pension contributions to be made in 2009 $8,441 $2,851 $3,253 $2,075 $598 $1,252 $1,508 Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Medicare Act) Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 Accumulated Postretirement Benefit Obligation (APBO) by $187 million, and reduced the second quarter 2009 and 2008 other postretirement benefit cost by $6.0 million and $6.2 million, respectively. It reduced the six months ended June 30, 2009 and 2008 other postretirement benefit cost by $12.0 million and $12.4 million, respectively. In the second quarter 2009, Entergy received $0.1 million in Medicare subsidies for prescription drug claims. In the six months ended June 30, 2009, Entergy received $1.1 million in Medicare subsidies for prescription drug claims. Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 APBO and the second quarters 2009 and 2008 other postretirement benefit cost and the six months ended June 30, 2009 and 2008 other postretirement benefit cost for the Registrant Subsidiaries as follows: Entergy Entergy Entergy Gulf States Entergy Entergy New Entergy System Arkansas Louisiana Louisiana Mississippi Orleans Texas Energy (In Thousands)Reduction in 12/31/2008 APBO ($40,610) ($19,650) ($22,222) ($13,280) ($9,135) ($14,961) ($6,628)Reduction in second quarter 2009 other postretirement benefit cost ($1,235) ($814) ($695) ($391) ($261) ($240) ($231)Reduction in second quarter 2008 other postretirement benefit cost ($1,266) ($876) ($706) ($406) ($279) ($263) ($236)Reduction in six months ended June 30, 2009 other postretirement benefit cost ($2,470) ($1,628) ($1,390) ($782) ($522) ($480) ($462)Reduction in six months ended June 30, 2008 other postretirement benefit cost ($2,532) ($1,752) ($1,412) ($812) ($558) ($526) ($472)Medicare subsidies received in the second quarter 2009 $30 $ 18 $19 $11 $11 $14 $2 Medicare subsidies received in the six months ended June 30, 2009 $256 $162 $168 $84 $97 $105 $25 For further information on the Medicare Act refer to Note 11 to the financial statements in the Form 10-K. NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the false false No definition available. 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RISK MANAGEMENT AND FAIR VALUES Market and Commodity Risks In the normal course of business, Entergy is exposed to a number of market and commodity risks. Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity. All financial and commodity-related instruments, including derivatives, are subject to market risk. Entergy is subject to a number of commodity and market risks, including: Type of Risk Affected Businesses Power price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsFuel price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsForeign currency exchange rate risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assetsEquity price and interest rate risk - investments Utility, Non-Utility Nuclear Entergy manages a portion of these risks using derivative instruments, some of which are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sales transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include long-term power purchase and sales agreements and fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity futures, forwards, swaps, and options; foreign currency forwards; and interest rate swaps. Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. Entergy manages fuel price risk for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term swaps. These swaps are marked-to-market with offsetting regulatory assets or liabilities. The notional volumes of these swaps are based on a portion of projected annual purchases of gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity. For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk. A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk. Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies. Entergy's risk management policies limit the amount of total net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness g iven Entergy's objectives. Hedging Derivatives Effective January 1, 2009, Entergy adopted Statement of Financial Accounting Standards No. 161 "Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133" (SFAS 161), which requires enhanced disclosures about an entity's derivative and hedging activities. The fair values of Entergy's derivative instruments in the consolidated balance sheet as of June 30, 2009 are as follows: Instrument Balance Sheet Location Fair Value Business Derivatives designated as hedging instruments under FASB 133 Assets: Electricity futures, forwards, and swaps Prepayments and other (current portion) $208 million Non-Utility Nuclear Electricity futures, forwards, and swaps Other deferred debits and other assets (non-current portion) $105 million Non-Utility Nuclear Derivatives not designated as hedging instruments under FASB 133 Liabilities: Natural gas futures, forwards, and swaps Other current liabilities $53 million Utility The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated statements of income for the three months ended June 30, 2009 is as follows: Instrument Amount of gain (loss) recognized in OCI (effective portion) Statement of Income location Amount of gain (loss) reclassified from accumulated OCI into income (effective portion) Electricity futures, forwards, and swaps $36 million Competitive businesses operating revenues $76 million The effect of Entergy's derivative instruments designated as cash flow hedges on the consolidated statements of income for the six months ended June 30, 2009 is as follows: Instrument Amount of gain (loss) recognized in OCI (effective portion) Statement of Income location Amount of gain (loss) reclassified from accumulated OCI into income (effective portion) Electricity futures, forwards, and swaps $237 million Competitive businesses operating revenues $133 million Electricity over-the-counter swaps that financially settle against day-ahead power pool prices are used to manage price exposure for Non-Utility Nuclear generation. Based on market prices as of June 30, 2009, cash flow hedges relating to power sales totaled $313 million of gross gains, of which approximately $208 million are expected to be reclassified from accumulated other comprehensive income (OCI) to operating revenues in the next twelve months. The actual amount reclassified from accumulated OCI, however, could vary due to future changes in market prices. Gains totaling approximately $76 million and $133 million were realized on the maturity of cash flow hedges for the three months ended June 30, 2009 and for the six months ended June 30, 2009, respectively. Unrealized gains or losses recorded in OCI result from hedging power output at the Non-Utility Nuclear power plants. The related gains or losses from hedging power are included in operating revenues when realized. The maximum length of time ov er which Entergy is currently hedging the variability in future cash flows for forecasted power transactions at June 30, 2009 is approximately four years. Planned generation sold forward from Non-Utility Nuclear power plants as of June 30, 2009 is 87% for the remaining two quarters of 2009 of which approximately one-third is sold under financial hedges and the remainder under normal purchase/sale contracts. The ineffective portion of the change in the value of Entergy's cash flow hedges during the three and six months ended June 30, 2009 and 2008 was insignificant. Credit support for these power cash flow hedges are covered by diverse master agreements, some of which require collateralization based on mark-to-market value while others do not require such collateralization. As of June 30, 2009, Non-Utility Nuclear was not required to post any collateral due to the fact that these cash flow hedges were in-the-money and were thus recorded as assets. Natural gas over-the-counter swaps that financially settle against NYMEX futures are used to manage fuel price risk for the Utility's Louisiana and Mississippi customers. All benefits or costs of the program are recorded in fuel costs. The total volume of natural gas swaps outstanding as of June 30, 2009 is 37,490,000 MMBtu for Entergy, 9,180,000 MMBtu for Entergy Gulf States Louisiana, 15,290,000 MMBtu for Entergy Louisiana, 9,150,000 MMBtu for Entergy Mississippi, and 3,870,000 for Entergy New Orleans. Credit support for these natural gas swaps are covered by master agreements that do not require collateralization based on mark-to-market value but do carry material adverse change clauses that may lead to collateralization requests. The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated statements of income for the three months ended June 30, 2009 is as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $38 million The effect of Entergy's derivative instruments not designated as hedging instruments on the consolidated statements of income for the six months ended June 30, 2009 is as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $14 million Due to regulatory treatment, the natural gas swaps are marked to market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as offsetting regulatory assets or liabilities. The fair values of the Registrant Subsidiaries' derivative instruments in their balance sheets as of June 30, 2009 are as follows: Instrument Balance Sheet Location Fair Value Registrant Derivatives not designated as hedging instruments under FASB 133 Liabilities: Natural gas swaps Gas hedge contracts $12.2 million Entergy Gulf States LouisianaNatural gas swaps Gas hedge contracts $23.5 million Entergy LouisianaNatural gas swaps Gas hedge contracts $15.4 million Entergy MississippiNatural gas swaps Other current liabilities $1.6 million Entergy New Orleans The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their statements of income for the three months ended June 30, 2009 are as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Registrant Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $10.7 million Entergy Gulf States Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $16.4 million Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $11.6 million Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) million Entergy New Orleans The effects of the Registrant Subsidiaries' derivative instruments not designated as hedging instruments on their statements of income for the six months ended June 30, 2009 are as follows: Instrument Statement of Income Location Amount of gain (loss) recorded in income Registrant Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.0 million Entergy Gulf States Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.2 million Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.2 million Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $2.7 million Entergy New Orleans Fair Values The estimated fair values of Entergy's financial instruments and derivatives are determined using bid prices and market quotes. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not accrue to the benefit or detriment of shareholders. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Effective January 1, 2008, Entergy and the Registrant Subsidiaries adopted Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (SFAS 157), which defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair valu e measurements. SFAS 157 generally does not require any new fair value measurements. However, in some cases, the application of SFAS 157 in the future may change Entergy's and the Registrant Subsidiaries' practice for measuring and disclosing fair values under other accounting pronouncements that require or permit fair value measurements. SFAS 157 defines fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. SFAS 157 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of fair value hierarchy defined in SFAS 157 are as follows: - - Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents, debt instruments, and gas hedge contracts. - - Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Level 2 inputs include the following: - - quoted prices for similar assets or liabilities in active markets;- quoted prices for identical assets or liabilities in inactive markets;- inputs other than quoted prices that are observable for the asset or liability; or- inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually owned debt instruments or shares in common trusts. - - Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management's best estimate of fair value for the asset or liability. Level 3 consists primarily of derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for the cash flow hedges that are recorded as derivative contract assets or liabilities are based on both observable inputs including public market prices and unobservable inputs such as model-generated prices for longer-term markets and are classified as Level 3 assets and liabilities. The amounts reflected as the fair value of derivative assets or liabilities are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from Entergy's Non-Utility Nuclear business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from a combination of quoted forward powe r market prices for the period for which such curves are available, and model-generated prices using quoted forward gas market curves and estimates regarding heat rates to convert gas to power and the costs associated with the transportation of the power from the plants' bus bar to the contract's point of delivery, generally a power market hub, for the period thereafter. The difference between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties' credit adjusted risk free rate are recorded as derivative contract assets or liabilities. All of the $313 million of cash flow hedges at June 30, 2009 are in-the-money contracts with counterparties who are all currently investment grade. Effective January 1, 2009, Entergy adopted FSP No. FAS 157-4, "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly" (FSP 157-4), which provides additional guidance for estimating fair value in accordance with SFAS 157 when the volume and level of activity for the asset and liability have significantly decreased and includes guidance on identifying circumstances that indicate a transaction is not orderly. The adoption of FSP 157-4 had no impact on net income or total equity. The following table sets forth, by level within the fair value hierarchy established by SFAS 157, Entergy's assets and liabilities that are accounted for at fair value on a recurring basis as of June 30, 2009. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,206 $- $- $1,206Decommissioning trust funds: Equity securities 182 1,304 - 1,486Debt securities 382 1,026 - 1,408Power contracts - - 313 313Securitization recovery trust account 9 - - 9Other investments 39 - - 39 $1,818 $2,330 $313 $4,461 Liabilities: Gas hedge contracts $53 $- $- $53 The following table sets forth a reconciliation of changes in the assets (liabilities) for the fair value of derivatives classified as Level 3 in the SFAS 157 fair value hierarchy for the three months ended June 30, 2009: 2009 2008 (In Millions) Balance as of beginning of period $351 ($288) Price changes (unrealized gains/losses) 36 (480)Originated 2 (3)Settlements (76) 37 Balance as of June 30 $313 ($734)The following table sets forth a reconciliation of changes in the assets (liabilities) for the fair value of derivatives classified as Level 3 in the SFAS 157 fair value hierarchy for the six months ended June 30, 2009: 2009 2008 (In Millions) Balance as of January 1 $207 ($12) Price changes (unrealized gains/losses) 237 (676)Originated 2 (77)Settlements (133) 31 Balance as of June 30 $313 ($734) The following table sets forth, by level within the fair value hierarchy established by SFAS 157, the Registrant Subsidiaries' assets that are accounted for at fair value on a recurring basis as of June 30, 2009. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. Level 1 Level 2 Level 3 Total (In Millions) Entergy Arkansas: Assets: Temporary cash investments $79.7 $- $- $79.7Decommissioning trust funds: Equity securities 3.3 160.6 - 163.9Debt securities 19.3 213.8 - 233.1 $102.3 $374.4 $- $476.7 Entergy Gulf States Louisiana: Assets: Temporary cash investments $67.0 $- $- $67.0Decommissioning trust funds: Equity securities 1.5 130.2 - 131.7Debt securities 21.5 158.8 - 180.3 $90.0 $289.0 $- $379.0 Liabilities: Gas hedge contracts $12.2 $- $- $12.2 Entergy Louisiana: Assets: Temporary cash investments $72.5 $- $- $72.5Decommissioning trust funds: Equity securities 7.1 89.0 - 96.1Debt securities 43.9 45.1 - 89.0Other investments 0.8 - - 0.8 $124.3 $134.1 $- $258.4 Liabilities: Gas hedge contracts $23.5 $- $- $23.5 Entergy Mississippi: Assets: Temporary cash investments $42.0 $- $- $42.0Other investments 31.9 - - 31.9 $73.9 $- $- $73.9 Liabilities: Gas hedge contracts $15.4 $- $- $15.4 Entergy New Orleans: Assets: Temporary cash investments $121.6 $- $- $121.6Other investments 6.2 - - 6.2 $127.8 $- $- $127.8 Liabilities: Gas hedge contracts $1.6 $- $- $1.6 Entergy Texas: Assets: Temporary cash investments $75.3 $- $- $75.3Securitization recovery trust account 9.1 - - 9.1 $84.4 $- $- $84.4 System Energy: Assets: Temporary cash investments $91.1 $- $- $91.1Decommissioning trust funds: Equity securities 2.1 143.9 - 146.0Debt securities 56.5 78.4 - 134.9 $149.7 $222.3 $- $372.0 NOTE 8. RISK MANAGEMENT AND FAIR VALUES Market and Commodity Risks In the normal course of business, Entergy is exposed to a number of market and commodity false false No definition available. 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May include disclosures such as the purpose of the funds, funding requirements,... false false false false false false false false false 1 false false 0 0 NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The NRC requires Entergy to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick). The funds are invested primarily in equity securities; fixed-rate, fixed-income securities; and cash and cash equivalents. Entergy applies the provisions of SFAS 115, "Accounting for Investments for Certain Debt and Equity Securities," in accounting for investments in decommissioning trust funds. As a result, Entergy records the decommissioning trust funds on the balance sheet at their fair value. Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets. For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits/debits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not receive regulatory treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulat ed other comprehensive income component of common shareholders' equity because these assets are classified as available for sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of common shareholders' equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. Entergy records realized gains and losses on its debt and equity securities generally using the specific identification method to determine the cost basis of its securities. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $1,487 $106 $88Debt Securities 1,407 54 12 Total $2,894 $160 $100 2008 Equity Securities $1,436 $85 $177Debt Securities 1,396 77 21 Total $2,832 $162 $198 The amortized cost of debt securities was $1,365 million and $1,340 million at June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.89%, an average duration of approximately 5.12 years, and an average maturity of approximately 8.4 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value GrossUnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $302 $49 $278 $7More than 12 months 77 39 67 5 Total $379 $88 $345 $12 The unrealized losses in excess of twelve months above relate to Entergy's Utility operating companies and System Energy. The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $11 $21 1 year - 5 years 634 5265 years - 10 years 435 49010 years - 15 years 107 14615 years - 20 years 54 5220 years+ 166 161 Total $1,407 $1,396 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $699 million and $491 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $16 million and $8 million, respectively, and gross losses of $10 million and $3 million, respectively, were either reclassified out of other comprehensive income into earnings or recorded into earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $1,282 million and $748 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $30 million and $14 million, respectively, and gross losses of $26 million and $5 million, respectively, were either reclassified out of other comprehensive income into earnings or recorded into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $163.8 $32.4 $11.2Debt Securities 233.1 10.8 1.8 Total $396.9 $43.2 $13.0 2008 Equity Securities $165.6 $31.7 $13.7Debt Securities 224.9 12.8 2.4 Total $390.5 $44.5 $16.1 The amortized cost of debt securities was $224.1 million and $214.5 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.77%, an average duration of approximately 4.93 years, and an average maturity of approximately 6.1 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $44.1 $6.7 $23.0 $1.3More than 12 months 9.6 4.5 18.8 0.5 Total $53.7 $11.2 $41.8 $1.8 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $2.1 $2.01 year - 5 years 122.3 127.05 years - 10 years 95.6 93.910 years - 15 years 2.6 2.015 years - 20 years 4.0 -20 years+ 6.5 - Total $233.1 $224.9 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $21.9 million and $81.5 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.1 million and $2.4 million, respectively, and gross losses of $0.4 million and $0.1 million, respectively, were recorded in earnings.During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $51.7 million and $104.9 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $0.2 million and $2.7 million, respectively, and gross losses of $1.2 million and $0.4 million, respectively, were recorded in earnings. Entergy Gulf States Louisiana Entergy Gulf States Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: FairValue TotalUnrealizedGains TotalUnrealizedLosses (In Millions)2009 Equity Securities $131.6 $5.3 $22.6Debt Securities 180.4 8.1 1.0 Total $312.0 $13.4 $23.6 2008 Equity Securities $132.3 $4.6 $24.5Debt Securities 170.9 8.7 3.3 Total $303.2 $13.3 $27.8 The amortized cost of debt securities was $173.3 million and $165.5 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.92%, an average duration of approximately 6.09 years, and an average maturity of approximately 9.4 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities FairValue GrossUnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $93.2 $17.0 $8.4 $0.3More than 12 months 11.0 5.6 11.6 0.7 Total $104.2 $22.6 $20.0 $1.0 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $5.7 $6.51 year - 5 years 37.3 36.55 years - 10 years 73.3 75.710 years - 15 years 43.9 36.015 years - 20 years 12.0 8.720 years+ 8.2 7.5 Total $180.4 $170.9 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $9.9 million and $15.3 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.1 million and $0.2 million, respectively, and gross losses of $0.4 million and $0.09 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $33.7 million and $26.3 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $0.9 million and $0.4 million, respectively, and gross losses of $0.5 million and $0.1 million, respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: FairValue TotalUnrealizedGains TotalUnrealizedLosses (In Millions)2009 Equity Securities $96.1 $5.2 $15.5Debt Securities 89.0 3.7 1.6 Total $185.1 $8.9 $17.1 2008 Equity Securities $93.3 $3.9 $17.2Debt Securities 87.6 7.1 1.6 Total $180.9 $11.0 $18.8 The amortized cost of debt securities was $87.0 million and $82.1 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.07%, an average duration of approximately 4.97 years, and an average maturity of approximately 10.0 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $43.8 $8.6 $25.5 $1.0More than 12 months 13.5 6.9 4.2 0.6 Total $57.3 $15.5 $29.7 $1.6 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $0.3 $1.21 year - 5 years 32.9 33.45 years - 10 years 23.8 21.410 years - 15 years 11.5 10.515 years - 20 years 5.2 6.820 years+ 15.3 14.3 Total $89.0 $87.6 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $23.3 million and $4.3 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $1.1 million and $0.01 million, respectively, and gross losses of $0.3 million and $0.08 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $33.5 million and $9.3 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $1.5 million and $0.02 million, respectively, and gross losses of $0.4 million and $0.1 million, respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held at June 30, 2009 and December 31, 2008 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions)2009 Equity Securities $147.7 $4.5 $34.0Debt Securities 133.2 2.0 1.6 Total $280.9 $6.5 $35.6 2008 Equity Securities $127.8 $2.0 $36.3Debt Securities 141.0 6.9 3.9 Total $268.8 $8.9 $40.2 The amortized cost of debt securities was $132.7 million and $138.0 million as of June 30, 2009 and December 31, 2008, respectively. The debt securities have an average coupon rate of approximately 4.40%, an average duration of approximately 4.67 years, and an average maturity of approximately 7.7 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor's 500 Index. A relatively small percentage of the securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows at June 30, 2009: Equity Securities Debt Securities Fair Value Gross UnrealizedLosses FairValue GrossUnrealizedLosses (In Millions) Less than 12 months $59.8 $12.6 $46.6 $0.8More than 12 months 43.1 21.4 7.1 0.8 Total $102.9 $34.0 $53.7 $1.6 The fair value of debt securities, summarized by contractual maturities, at June 30, 2009 and December 31, 2008 are as follows: 2009 2008 (In Millions) less than 1 year $0.2 $2.01 year - 5 years 83.5 48.05 years - 10 years 30.2 44.010 years - 15 years 0.4 10.015 years - 20 years 0.8 1.220 years+ 18.1 35.8 Total $133.2 $141.0 During the three months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $170.1 million and $141.5 million, respectively. During the three months ended June 30, 2009 and 2008, gross gains of $0.7 million and $1.5 million, respectively, and gross losses of $3.9 million and $0.7 million, respectively, were recorded in earnings. During the six months ended June 30, 2009 and 2008, proceeds from the dispositions of securities amounted to $322.0 million and $176.5 million, respectively. During the six months ended June 30, 2009 and 2008, gross gains of $3.7 million and $2.3 million, respectively, and gross losses of $6.3 million and $1.3 million, respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy evaluate these unrealized losses at the end of each period to determine whether an other than temporary impairment has occurred. Effective January 1, 2009, Entergy adopted FSP FAS 115-2, "Recognition and Presentation of Other-Than-Temporary Impairments". The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary-impairment shall have been considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss). For debt securities held as of January 1, 2009 for which an other-than-temporary impairment had previously been recognized but for which assessment under the new guidance indicates this impairment is temporary, Entergy recorded an adjustment to its opening balance of retained earnings of $11.3 million ($6.4 million net-of-tax). Entergy did not have any material other than temporary impairments relating to credit losses on debt securities for the six months ended June 30, 2009. The assessment of whether an investment in an equity security has suffered an other than temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy's trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Non-Utility Nuclear recorded charges to other income of $69 million and $85 million in the three and six months ended June 30, 2009, respectively, resulting from the recognition of the other than temporary impairment of certain equity securities held in its decommissioning trust funds. NOTE 9. DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Entergy false false Describes decommissioning trust assets. May include disclosures such as the purpose of the funds, funding requirements, regulatory authorities and related cost recovery aspects. 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EQUITY Common Stock Common Stock Issuances In February 2009, Entergy Corporation was unable to remarket successfully $500 million of notes associated with its equity units. The note holders therefore put the notes to Entergy, Entergy retired the notes, and Entergy issued 6,598,000 shares of common stock to the note holders. Earnings per Share The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statement: For the Three Months Ended June 30, 2009 2008 (In Millions, Except Per Share Data)Basic earnings per share Income Shares $/share Income Shares $/shareNet income attributable to Entergy Corporation $226.8 196.1 $1.16 $271.0 191.3 $1.42 Average dilutive effect of: Stock options - 2.1 (0.012) - 5.0 (0.036) Equity units - - - - 1.6 (0.011) Diluted earnings per share $226.8 198.2 $1.14 $271.0 197.9 $1.37 For the Six Months Ended June 30, 2009 2008 (In Millions, Except Per Share Data)Basic earnings per share Income Shares $/share Income Shares $/shareNet income attributable to Entergy Corporation $462.1 194.4 $2.38 $579.7 192.0 $3.02 Average dilutive effect of: Stock options - 2.1 (0.025) - 4.8 (0.073) Equity units $3.2 1.7 (0.005) - 1.3 (0.021) Deferred units - - - - (0.001) Diluted earnings per share $465.3 198.2 $2.35 $579.7 198.1 $2.93 Entergy's stock option and other equity compensation plans are discussed in Note 12 to the financial statements in the Form 10-K.Treasury Stock During the six months ended June 30, 2009, Entergy Corporation issued 166,334 shares of its previously repurchased common stock to satisfy stock option exercises and other stock-based awards. Retained Earnings On July 31, 2009, Entergy Corporation's Board of Directors declared a common stock dividend of $0.75 per share, payable on September 1, 2009 to holders of record as of August 12, 2009. Presentation of Non-Controlling Interests In 2007, the FASB issued SFAS 160, "Non-Controlling Interests in Consolidated Financial Statements, an amendment of ARB No. 51," which requires generally that the ownership interests in subsidiaries held by parties other than the parent (non-controlling interests) be clearly identified, labeled, and presented in the consolidated balance sheet within equity, but separate from the parent's equity, and that the amount of consolidated net income attributable to the parent and to the non-controlling interests be clearly identified and presented on the face of the consolidated income statement. SFAS 160 became effective for Entergy in the first quarter of 2009 and applies to preferred securities issued by Entergy subsidiaries to third parties. Presentation of Preferred Stock without Sinking Fund In connection with the adoption of SFAS 160 Entergy evaluated the requirements of EITF Topic No. 98, Classification and Measurement of Redeemable Securities (Topic D-98). Topic D-98 requires the classification of securities between liabilities and shareholders' equity if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi and Entergy New Orleans articles of incorporation provide, generally, that the holders of each company's preferred securities may elect a majority of the respective company's board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. In accordance with Topic D-98, Entergy Arkansas, Entergy Mississippi and Entergy New Orl eans present their preferred securities outstanding between liabilities and shareholders' equity. Entergy Gulf States Louisiana and Entergy Louisiana, both organized as limited liability companies, have outstanding preferred securities with similar protective rights with respect to unpaid dividends, but provide for the election of board members that would not constitute a majority of the board; and their preferred securities are therefore classified for all periods presented as a component of members' equity in accordance with SFAS 160. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Asset Management (whose preferred holders also have protective rights as described in Note 6 to the financial statements in the Form 10-K) are similarly presented between liabilities and shareholders' equity in Entergy's consolidated financial statements and the outstanding preferred securities of Entergy Gulf States Louisiana and Entergy Louisiana are presented within total equity in Entergy's consolidated financial statements. The preferred dividends paid by all subsidiaries are reflected for all periods presented outside of consolidated net income in accordance with SFAS 160. The accompanying financial statements do not separately reconcile the beginning and ending balances of preferred securities because there is not a significant net change in the balance of the securities between periods. NOTE 3. 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No authoritative reference available. false 16 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true -10614000 -10614 false false 2 false false 0 0 false false 3 false true -10614000 -10614 false false 4 false true -58466000 -58466 false false 5 false true -112698000 -112698 false false 6 false true -207149000 -207149 false false 7 false true 8320000 8320 false false 8 false true -510958000 -510958 false true No definition available. No authoritative reference available. false 17 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 18 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 7382719000 7382719 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 19 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 226813000 226813 false false 2 false false 0 0 false false 3 false true 270954000 270954 false false 4 false false 0 0 false false 5 false true 462148000 462148 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 20 2 us-gaap_DividendsCommonStockCash us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 146555000 146555 false false 2 false false 0 0 false false 3 false true 143669000 143669 false false 4 false false 0 0 false false 5 false true 288645000 288645 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 21 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 6365000 6365 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 22 2 etr_RetainedEarningsTotalAfterAdditions etr false na duration monetary Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 468513000 468513 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: No authoritative reference available. false 32 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true 7562587000 7562587 false false 2 false true 6900345000 6900345 false false 3 false true 7562587000 7562587 false false 4 false false 0 0 false false 5 false true 7382719000 7382719 false false 6 false false 0 0 false false 7 false true 6735965000 6735965 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 33 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 35 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 579703000 579703 false false No definition available. No authoritative reference available. false 36 2 us-gaap_DividendsCommonStockCash us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 288038000 288038 false false No definition available. No authoritative reference available. false 37 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 0 0 false false No definition available. No authoritative reference available. false 38 2 etr_RetainedEarningsTotalAfterAdditions etr false na duration monetary Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 579703000 579703 false false Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: No authoritative reference available. false 48 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 7027630000 7027630 false false No definition available. No authoritative reference available. false 49 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 50 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 120830000 120830 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 55 2 us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true -23728000 -23728 false false 2 false false 0 0 false false 3 false true -285280000 -285280 false false 4 false false 0 0 false false 5 false true 63986000 63986 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 64 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true 184816000 184816 false false 2 false true -191306000 -191306 false false 3 false true 184816000 184816 false false 4 false false 0 0 false false 5 false true 120830000 120830 false false 6 false false 0 0 false false 7 false true -12540000 -12540 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 65 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 71 2 us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -464046000 -464046 false false No definition available. No authoritative reference available. false 80 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -476586000 -476586 false false No definition available. No authoritative reference available. false 81 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 82 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true -232232000 -232232 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 88 2 us-gaap_OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -41000 -41 false false 2 false false 0 0 false false 3 false true 2247000 2247 false false 4 false false 0 0 false false 5 false true -898000 -898 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 96 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true -233130000 -233130 false false 2 false true -111281000 -111281 false false 3 false true -233130000 -233130 false false 4 false false 0 0 false false 5 false true -232232000 -232232 false false 6 false false 0 0 false false 7 false true -107145000 -107145 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 97 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 104 2 us-gaap_OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -1889000 -1889 false false No definition available. No authoritative reference available. false 112 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -109034000 -109034 false false No definition available. No authoritative reference available. false 113 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 114 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true -4402000 -4402 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 117 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true -6365000 -6365 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 121 2 us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 70275000 70275 false false 2 false false 0 0 false false 3 false true -21223000 -21223 false false 4 false false 0 0 false false 5 false true 44858000 44858 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 128 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true 34091000 34091 false false 2 false true 89061000 89061 false false 3 false true 34091000 34091 false false 4 false false 0 0 false false 5 false true -4402000 -4402 false false 6 false false 0 0 false false 7 false true 121611000 121611 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 129 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 133 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 0 0 false false No definition available. No authoritative reference available. false 137 2 us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -53773000 -53773 false false No definition available. No authoritative reference available. false 144 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 67838000 67838 false false No definition available. No authoritative reference available. false 145 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 146 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 3106000 3106 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 154 2 us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 1346000 1346 false false 2 false false 0 0 false false 3 false true 447000 447 false false 4 false false 0 0 false false 5 false true 503000 503 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 160 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true 3609000 3609 false false 2 false true 6377000 6377 false false 3 false true 3609000 3609 false false 4 false false 0 0 false false 5 false true 3106000 3106 false false 6 false false 0 0 false false 7 false true 6394000 6394 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 161 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 170 2 us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 430000 430 false false No definition available. No authoritative reference available. false 176 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 6824000 6824 false false No definition available. No authoritative reference available. false 177 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 178 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false true false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 4869303000 4869303 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 189 2 us-gaap_StockIssuedDuringPeriodValueNewIssues us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 499934000 499934 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 190 2 us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 4819000 4819 false false 2 false false 0 0 false false 3 false true 6644000 6644 false false 4 false false 0 0 false false 5 false true 6028000 6028 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 191 2 etr_PaidInCapitalTotal etr false na duration monetary Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital... false false false false false false false false false 1 false true 4819000 4819 false false 2 false false 0 0 false false 3 false true 6644000 6644 false false 4 false false 0 0 false false 5 false true 505962000 505962 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders No authoritative reference available. false 192 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false true 5375265000 5375265 false false 2 false true 4853837000 4853837 false false 3 false true 5375265000 5375265 false false 4 false false 0 0 false false 5 false true 4869303000 4869303 false false 6 false false 0 0 false false 7 false true 4850769000 4850769 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 193 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 205 2 us-gaap_StockIssuedDuringPeriodValueNewIssues us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 0 0 false false No definition available. No authoritative reference available. false 206 2 us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 9712000 9712 false false No definition available. No authoritative reference available. false 207 2 etr_PaidInCapitalTotal etr false na duration monetary Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital... false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 9712000 9712 false false Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders No authoritative reference available. false 208 2 us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit instant monetary No definition available. false false false false false false false true false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 4860481000 4860481 false false No definition available. No authoritative reference available. false 209 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 211 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 226813000 226813 false false 2 false true 270954000 270954 false false 3 false true 462148000 462148 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 213 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false true 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 215 2 us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true -23728000 -23728 false false 2 false true -285280000 -285280 false false 3 false true 63986000 63986 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 216 2 us-gaap_OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -41000 -41 false false 2 false true 2247000 2247 false false 3 false true -898000 -898 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 217 2 us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 70275000 70275 false false 2 false true -21223000 -21223 false false 3 false true 44858000 44858 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 218 2 us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 1346000 1346 false false 2 false true 447000 447 false false 3 false true 503000 503 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 219 2 us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 4998000 4998 false false 2 false true 4975000 4975 false false 3 false true 9996000 9996 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 220 2 us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 279663000 279663 false false 2 false true -27880000 -27880 false false 3 false true 580593000 580593 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 225 0 na true na na na No definition available. false true false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false false 0 0 false false No definition available. No authoritative reference available. false 227 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 579703000 579703 false false No definition available. No authoritative reference available. false 229 2 us-gaap_CumulativeEffectOfInitialAdoptionOfNewAccountingPrinciple us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true 0 0 false false No definition available. No authoritative reference available. false 231 2 us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -464046000 -464046 false false No definition available. No authoritative reference available. false 232 2 us-gaap_OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false 5 false false 0 0 false false 6 false false 0 0 false false 7 false false 0 0 false false 8 false true -1889000 -1889 false false No definition available. 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Period end amount of property, plant and equipment (PPE) related to transmission and distribution of natural gas for resale owned by public utility. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Carrying amount as of the balance sheet date of capitalized fuel costs of a regulated entity that are not expected to be recovered from customers within one year. No authoritative reference available. The net cash outflow from any material that is commonly used in the generation of nuclear energy. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. 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No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Carrying amount as of the balance sheet date of the System Agreement cost equalization payments that are expected to be recovered through Entergy Arkansas' production cost allocation rider within one year. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. 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Costs deferred during a nuclear refueling outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Accumulated change in equity for balance sheet purposes from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The provision recorded in the period the offset to which is either a reduction or an increase in a regulatory asset or liability. No authoritative reference available. No authoritative reference available. No authoritative reference available. The net cash inflow from any material that is commonly used in the generation of nuclear energy. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Changes in the account in which recoveries from customers through a transition charge are deposited and and from which payments are made to service the securitization bonds issued by Entergy Gulf States Reconstruction Funding. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Unbilled amounts due for services rendered or products shipped. This element is distinct from unbilled contracts receivables because this is based on noncontract transactions. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Total additions to the cumulative amount of the reporting entity's undistributed earnings or deficit: No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Describes decommissioning trust assets. May include disclosures such as the purpose of the funds, funding requirements, regulatory authorities and related cost recovery aspects. No authoritative reference available. 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Description of New Accounting Pronouncements Not yet Adopted No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Carrying amount as of the balance sheet date of capitalized fuel costs of a regulated entity that are expected to be returned to customers through rate adjustments within one year. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in the future. No authoritative reference available. Fossil fuel inventory held for consumption in the production of energy. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Net additions or reductions during the period in the Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders No authoritative reference available. Amortization of costs deferred during nuclear refueling outages over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. 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Carrying amount as of the balance sheet date of capitalized costs of regulated entities that are not expected to be recovered through revenue sources within one year or the normal operating cycle if longer and are not specifically broken out elsewhere in the balance sheet. No authoritative reference available. No authoritative reference available. No authoritative reference available. 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RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $22,412 $22,598 Interest cost on projected benefit obligation 54,543 51,646 Expected return on assets (62,305) (57,640) Amortization of prior service cost 1,249 1,266 Amortization of loss 5,600 6,482 Net pension costs $21,499 $24,352 Entergy's qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $44,824 $45,196 Interest cost on projected benefit obligation 109,086 103,293 Expected return on assets (124,610) (115,279) Amortization of prior service cost 2,498 2,532 Amortization of loss 11,200 13,416 Net pension costs $42,998 $49,158 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,400 $1,748 $1,974 $995 $425 $917 $880 Interest cost on projected benefit obligation 11,761 5,279 6,940 3,676 1,470 3,935 2,139 Expected return on assets (12,187) (7,516) (8,197) (4,236) (1,815) (5,185) (2,766)Amortization of prior service cost 212 110 119 85 52 80 9 Amortization of loss 1,764 79 703 324 305 43 109 Net pension cost/(income) $4,950 ($300) $1,539 $844 $437 ($210) $371 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,584 $1,841 $2,058 $1,063 $445 $968 $930 Interest cost on projected benefit obligation 11,616 5,047 6,784 3,627 1,415 3,882 1,937 Expected return on assets (11,765) (7,165) (8,134) (4,075) (1,839) (5,047) (2,452)Amortization of prior service cost 223 110 119 90 52 80 9 Amortization of loss 2,303 115 920 485 319 156 90 Net pension cost/(income) $5,961 ($52) $1,747 $1,190 $392 $39 $514 The Registrant Subsidiaries' qualified pension cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $6,800 $3,496 $3,948 $1,990 $850 $1,834 $1,760 Interest cost on projected benefit obligation 23,522 10,558 13,880 7,352 2,940 7,870 4,278 Expected return on assets (24,374) (15,032) (16,394) (8,472) (3,630) (10,370) (5,532)Amortization of prior service cost 424 220 238 170 104 160 18 Amortization of loss 3,528 158 1,406 648 610 86 218 Net pension cost/(income) $9,900 ($600) $3,078 $1,688 $874 ($420) $742 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $7,168 $3,682 $4,116 $2,126 $890 $1,936 $1,860 Interest cost on projected benefit obligation 23,232 10,094 13,568 7,254 2,830 7,764 3,874 Expected return on assets (23,530) (14,330) (16,268) (8,150) (3,678) (10,094) (4,904)Amortization of prior service cost 446 220 238 180 104 160 18 Amortization of loss 4,606 230 1,840 970 638 312 180 Net pension cost/(income) $11,922 ($104) $3,494 $2,380 $784 $78 $1,028 Entergy recognized $4.4 million and $4.3 million in pension cost for its non-qualified pension plans in the second quarters of 2009 and 2008, respectively. Entergy recognized $8.8 million and $8.5 million in pension cost for its non-qualified pension plans for the six months ended June 30, 2009 and 2008, respectively. The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans in the second quarters of 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Second Quarter 2009 $99 $97 $6 $43 $20 $185 Non-Qualified Pension Cost Second Quarter 2008 $133 $78 $7 $54 $12 $227 The Registrant Subsidiaries recognized the following pension cost for their non-qualified pension plans for the six months ended June 30, 2009 and 2008: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy Arkansas Louisiana Louisiana Mississippi New Orleans Texas (In Thousands)Non-Qualified Pension Cost Six Months Ended June 30, 2009 $198 $194 $12 $86 $40 $370 Non-Qualified Pension Cost Six Months Ended June 30, 2008 $266 $156 $14 $108 $24 $454 Components of Net Other Postretirement Benefit Cost Entergy's other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $11,691 $11,800 Interest cost on APBO 18,816 17,824 Expected return on assets (5,871) (7,027)Amortization of transition obligation 933 957 Amortization of prior service cost (4,024) (4,104)Amortization of loss 4,743 3,890 Net other postretirement benefit cost $26,288 $23,340 Entergy's other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: 2009 2008 (In Thousands) Service cost - benefits earned during the period $23,382 $23,600 Interest cost on APBO 37,632 35,648 Expected return on assets (11,742) (14,054)Amortization of transition obligation 1,866 1,914 Amortization of prior service cost (8,048) (8,208)Amortization of loss 9,486 7,780 Net other postretirement benefit cost $52,576 $46,680 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the second quarters of 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,765 $1,196 $1,147 $530 $311 $619 $513 Interest cost on APBO 3,759 2,005 2,297 1,173 967 1,490 605 Expected return on assets (2,143) - - (757) (684) (1,556) (414)Amortization of transition obligation 205 60 96 88 416 66 2 Amortization of prior service cost (197) (77) 117 (62) 90 19 (245)Amortization of loss 2,087 494 553 657 381 799 320 Net other postretirement benefit cost $5,476 $3,678 $4,210 $1,629 $1,481 $1,437 $781 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System 2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $1,706 $1,251 $1,099 $514 $295 $606 $513 Interest cost on APBO 3,443 1,917 2,187 1,141 953 1,440 531 Expected return on assets (2,492) - - (905) (789) (1,885) (511)Amortization of transition obligation 205 84 96 88 415 66 2 Amortization of prior service cost (197) 146 117 (62) 90 72 (283)Amortization of loss 1,440 494 677 534 291 357 177 Net other postretirement benefit cost $4,105 $3,892 $4,176 $1,310 $1,255 $656 $429 The Registrant Subsidiaries' other postretirement benefit cost, including amounts capitalized, for the six months ended June 30, 2009 and 2008, included the following components: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2009 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,530 $2,392 $2,294 $1,060 $622 $1,238 $1,026 Interest cost on APBO 7,518 4,010 4,594 2,346 1,934 2,980 1,210 Expected return on assets (4,286) - - (1,514) (1,368) (3,112) (828)Amortization of transition obligation 410 120 192 176 832 132 4 Amortization of prior service cost (394) (154) 234 (124) 180 38 (490)Amortization of loss 4,174 988 1,106 1,314 762 1,598 640 Net other postretirement benefit cost $10,952 $7,356 $8,420 $3,258 $2,962 $2,874 $1,562 Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System2008 Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Service cost - benefits earned during the period $3,412 $2,502 $2,198 $1,028 $590 $1,212 $1,026 Interest cost on APBO 6,886 3,834 4,374 2,282 1,906 2,880 1,062 Expected return on assets (4,984) - - (1,810) (1,578) (3,770) (1,022)Amortization of transition obligation 410 168 192 176 830 132 4 Amortization of prior service cost (394) 292 234 (124) 180 144 (566)Amortization of loss 2,880 988 1,354 1,068 582 714 354 Net other postretirement benefit cost $8,210 $7,784 $8,352 $2,620 $2,510 $1,312 $858 Employer Contributions Based on current assumptions, Entergy expects to contribute $132 million to its qualified pension plans in 2009. Guidance pursuant to the Pension Protection Act of 2006 rules, effective for the 2009 plan year and beyond, may affect the level of Entergy's pension contributions in the future. As of the end of July 2009, Entergy had contributed $95 million to its pension plans. Therefore, Entergy presently anticipates contributing an additional $37 million to fund its qualified pension plans in 2009. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans in 2009: Entergy Entergy Gulf States Entergy Entergy Entergy Entergy System Arkansas Louisiana Louisiana Mississippi New Orleans Texas Energy (In Thousands)Expected 2009 pension contributions $24,635 $6,279 $7,623 $5,806 $1,107 $3,577 $4,734Pension contributions made through July 2009 $16,194 $3,428 $4,370 $3,731 $509 $2,325 $3,226Remaining estimated pension contributions to be made in 2009 $8,441 $2,851 $3,253 $2,075 $598 $1,252 $1,508 Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Medicare Act) Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 Accumulated Postretirement Benefit Obligation (APBO) by $187 million, and reduced the second quarter 2009 and 2008 other postretirement benefit cost by $6.0 million and $6.2 million, respectively. It reduced the six months ended June 30, 2009 and 2008 other postretirement benefit cost by $12.0 million and $12.4 million, respectively. In the second quarter 2009, Entergy received $0.1 million in Medicare subsidies for prescription drug claims. In the six months ended June 30, 2009, Entergy received $1.1 million in Medicare subsidies for prescription drug claims. Based on actuarial analysis, the estimated impact of future Medicare subsidies reduced the December 31, 2008 APBO and the second quarters 2009 and 2008 other postretirement benefit cost and the six months ended June 30, 2009 and 2008 other postretirement benefit cost for the Registrant Subsidiaries as follows: Entergy Entergy Entergy Gulf States Entergy Entergy New Entergy System Arkansas Louisiana Louisiana Mississippi Orleans Texas Energy (In Thousands)Reduction in 12/31/2008 APBO ($40,610) ($19,650) ($22,222) ($13,280) ($9,135) ($14,961) ($6,628)Reduction in second quarter 2009 other postretirement benefit cost ($1,235) ($814) ($695) ($391) ($261) ($240) ($231)Reduction in second quarter 2008 other postretirement benefit cost ($1,266) ($876) ($706) ($406) ($279) ($263) ($236)Reduction in six months ended June 30, 2009 other postretirement benefit cost ($2,470) ($1,628) ($1,390) ($782) ($522) ($480) ($462)Reduction in six months ended June 30, 2008 other postretirement benefit cost ($2,532) ($1,752) ($1,412) ($812) ($558) ($526) ($472)Medicare subsidies received in the second quarter 2009 $30 $ 18 $19 $11 $11 $14 $2 Medicare subsidies received in the six months ended June 30, 2009 $256 $162 $168 $84 $97 $105 $25 For further information on the Medicare Act refer to Note 11 to the financial statements in the Form 10-K. NOTE 6. RETIREMENT AND OTHER POSTRETIREMENT BENEFITS Components of Net Pension Cost Entergy's qualified pension cost, including amounts capitalized, for the false false No definition available. 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No authoritative reference available. false 13 4 etr_NuclearRefuelingOutageExpenses etr false na duration monetary Amortization of costs deferred during nuclear refueling outages over the estimated period to the next outage because these... false false false false false false false false false 1 false true 60234000 60234 false false 2 false true 55840000 55840 false false 3 false true 117013000 117013 false false 4 false true 107098000 107098 false true Amortization of costs deferred during nuclear refueling outages over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. No authoritative reference available. false 14 4 us-gaap_UtilitiesOperatingExpenseMaintenanceAndOperations us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 696345000 696345 false false 2 false true 710309000 710309 false false 3 false true 1341389000 1341389 false false 4 false true 1321577000 1321577 false true No definition available. No authoritative reference available. false 15 4 us-gaap_AssetRetirementObligationAccretionExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 49307000 49307 false false 2 false true 46816000 46816 false false 3 false true 98050000 98050 false false 4 false true 92812000 92812 false true No definition available. No authoritative reference available. false 16 4 us-gaap_TaxesExcludingIncomeAndExciseTaxes us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 122401000 122401 false false 2 false true 125942000 125942 false false 3 false true 256798000 256798 false false 4 false true 234513000 234513 false true No definition available. No authoritative reference available. false 17 4 us-gaap_Depreciation us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 260689000 260689 false false 2 false true 247977000 247977 false false 3 false true 518541000 518541 false false 4 false true 492962000 492962 false true No definition available. No authoritative reference available. false 18 4 etr_OtherRegulatoryChargesCreditsNet etr false na duration monetary Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in... false false false false false false false false false 1 false true 13327000 13327 false false 2 false true 34239000 34239 false false 3 false true -16147000 -16147 false false 4 false true 69519000 69519 false true Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in the future. No authoritative reference available. false 19 4 us-gaap_OperatingExpenses us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 2046293000 2046293 false false 2 false true 2696162000 2696162 false false 3 false true 4328878000 4328878 false false 4 false true 4954663000 4954663 false true No definition available. No authoritative reference available. true 20 3 us-gaap_OperatingIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 474496000 474496 false false 2 false true 568109000 568109 false false 3 false true 981023000 981023 false false 4 false true 1174342000 1174342 false true No definition available. No authoritative reference available. true 21 3 us-gaap_NonoperatingIncomeExpenseAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false true No definition available. false 22 4 us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 15782000 15782 false false 2 false true 9085000 9085 false false 3 false true 32730000 32730 false false 4 false true 18371000 18371 false true No definition available. No authoritative reference available. false 23 4 us-gaap_InvestmentIncomeInterestAndDividend us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 58892000 58892 false false 2 false true 47803000 47803 false false 3 false true 105278000 105278 false false 4 false true 105740000 105740 false true No definition available. No authoritative reference available. false 24 4 us-gaap_ImpairmentOfInvestments us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -69203000 -69203 false false 2 false true -24404000 -24404 false false 3 false true -84939000 -84939 false false 4 false true -28060000 -28060 false true No definition available. No authoritative reference available. false 25 4 us-gaap_IncomeLossFromEquityMethodInvestments us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 1369000 1369 false false 2 false true -2572000 -2572 false false 3 false true -1758000 -1758 false false 4 false true -3501000 -3501 false true No definition available. No authoritative reference available. false 26 4 us-gaap_OtherNonoperatingIncomeExpense us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -14723000 -14723 false false 2 false true 3916000 3916 false false 3 false true -24895000 -24895 false false 4 false true -7640000 -7640 false true No definition available. No authoritative reference available. false 27 4 us-gaap_NonoperatingIncomeExpense us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -7883000 -7883 false false 2 false true 33828000 33828 false false 3 false true 26416000 26416 false false 4 false true 84910000 84910 false true No definition available. No authoritative reference available. true 28 3 us-gaap_InterestExpenseAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false true No definition available. false 29 4 us-gaap_InterestExpenseDebt us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 125157000 125157 false false 2 false true 119903000 119903 false false 3 false true 253123000 253123 false false 4 false true 243047000 243047 false true No definition available. No authoritative reference available. false 30 4 us-gaap_InterestIncomeExpenseNet us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 27487000 27487 false false 2 false true 28030000 28030 false false 3 false true 46780000 46780 false false 4 false true 60567000 60567 false true No definition available. No authoritative reference available. false 31 4 us-gaap_PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -8483000 -8483 false false 2 false true -4937000 -4937 false false 3 false true -18294000 -18294 false false 4 false true -10053000 -10053 false true No definition available. No authoritative reference available. false 32 4 us-gaap_InterestExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 144161000 144161 false false 2 false true 142996000 142996 false false 3 false true 281609000 281609 false false 4 false true 293561000 293561 false true No definition available. No authoritative reference available. true 33 3 us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 322452000 322452 false false 2 false true 458941000 458941 false false 3 false true 725830000 725830 false false 4 false true 965691000 965691 false true No definition available. No authoritative reference available. true 34 3 us-gaap_IncomeTaxExpenseBenefit us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 90641000 90641 false false 2 false true 183012000 183012 false false 3 false true 253686000 253686 false false 4 false true 376015000 376015 false true No definition available. No authoritative reference available. false 35 3 us-gaap_ProfitLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 231811000 231811 false false 2 false true 275929000 275929 false false 3 false true 472144000 472144 false false 4 false true 589676000 589676 false true No definition available. No authoritative reference available. true 36 3 us-gaap_MinorityInterestInNetIncomeLossPreferredUnitHolders us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 4998000 4998 false false 2 false true 4975000 4975 false false 3 false true 9996000 9996 false false 4 false true 9973000 9973 false true No definition available. No authoritative reference available. false 37 3 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 true true 226813000 226813 false false 2 true true 270954000 270954 false false 3 true true 462148000 462148 false false 4 true true 579703000 579703 false true No definition available. No authoritative reference available. true 38 3 us-gaap_EarningsPerShareAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false true No definition available. false 39 4 us-gaap_EarningsPerShareBasic us-gaap true na duration decimal No definition available. false false false false false false false false true 1 true true 1.16 1.16 false false 2 true true 1.42 1.42 false false 3 true true 2.38 2.38 false false 4 true true 3.02 3.02 false true No definition available. No authoritative reference available. false 40 4 us-gaap_EarningsPerShareDiluted us-gaap true na duration decimal No definition available. false false false false false false false false true 1 true true 1.14 1.14 false false 2 true true 1.37 1.37 false false 3 true true 2.35 2.35 false false 4 true true 2.93 2.93 false true No definition available. No authoritative reference available. false 41 3 us-gaap_CommonStockDividendsPerShareDeclared us-gaap true na duration decimal No definition available. false false false false false false false false false 1 false true 0.75 0.75 false false 2 false true 0.75 0.75 false false 3 false true 1.5 1.5 false false 4 false true 1.5 1.5 false true No definition available. No authoritative reference available. false 42 3 us-gaap_WeightedAverageNumberOfSharesOutstandingBasic us-gaap true na duration shares No definition available. false false false false false false false false false 1 false true 196105002 196105002.00 false false 2 false true 191326928 191326928.00 false false 3 false true 194359001 194359001.00 false false 4 false true 191983266 191983266.00 false true No definition available. No authoritative reference available. false 43 3 us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding us-gaap true na duration shares No definition available. false false false false false false false false false 1 false true 198243169 198243169.00 false false 2 false true 197864459 197864459.00 false false 3 false true 198150768 198150768.00 false false 4 false true 198101863 198101863.00 false true No definition available. No authoritative reference available. false false 4 39 true Thousands NoRounding NoRounding false true XML 25 R2.xml IDEA: 2000 - CONSOLIDATED STATEMENTS OF CASH FLOWS 1.0.0.3 false 2000 - CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands false 1 $ false false u000 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 u001 Standard http://www.xbrl.org/2003/instance shares xbrli 0 u002 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 false 2 $ false true false Unaudited false Unaudited scenarioName asi http://www.entergy.com/20090904 u000 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 u001 Standard http://www.xbrl.org/2003/instance shares xbrli 0 u002 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 5 3 us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 6 4 us-gaap_ProfitLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 true true 472144000 472144 false false 2 true true 589676000 589676 false true No definition available. No authoritative reference available. false 7 4 etr_ConsolidatedNetIncomeAdjustmentsToReconcileConsolidatedNetIncomeToNetCashFlow etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 8 5 etr_ReserveForRegulatoryAdjustments etr false credit duration monetary The provision recorded in the period the offset to which is either a reduction or an increase in a regulatory asset or... false false false false false false false false false 1 false true -1630000 -1630 false false 2 false true -2808000 -2808 false true The provision recorded in the period the offset to which is either a reduction or an increase in a regulatory asset or liability. No authoritative reference available. false 9 5 etr_OtherRegulatoryChargesCreditsNet etr false na duration monetary Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in... false false false false false false false false false 1 false true -16147000 -16147 false false 2 false true 69519000 69519 false true Represents the debit or credit to defer certain costs or revenues because they will be recovered or returned to customers in the future. No authoritative reference available. false 10 5 us-gaap_DepreciationAmortizationAndAccretionNet us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 616591000 616591 false false 2 false true 585774000 585774 false true No definition available. No authoritative reference available. false 11 5 us-gaap_DeferredIncomeTaxesAndTaxCredits us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 249448000 249448 false false 2 false true 365337000 365337 false true No definition available. No authoritative reference available. false 12 5 us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 1758000 1758 false false 2 false true 3501000 3501 false true No definition available. No authoritative reference available. false 13 5 etr_ChangesInWorkingCapital etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 14 6 us-gaap_IncreaseDecreaseInReceivables us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 1888000 1888 false false 2 false true -216810000 -216810 false true No definition available. No authoritative reference available. false 15 6 us-gaap_IncreaseDecreaseInFuelInventories us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -3963000 -3963 false false 2 false true -12257000 -12257 false true No definition available. No authoritative reference available. false 16 6 us-gaap_IncreaseDecreaseInAccountsPayable us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -58177000 -58177 false false 2 false true 357503000 357503 false true No definition available. No authoritative reference available. false 17 6 us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 5193000 5193 false false 2 false true 0 0 false true No definition available. No authoritative reference available. false 18 6 us-gaap_IncreaseDecreaseInInterestPayableNet us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -37043000 -37043 false false 2 false true -48799000 -48799 false true No definition available. No authoritative reference available. false 19 6 us-gaap_IncreaseDecreaseInDeferredFuelCosts us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 266062000 266062 false false 2 false true -555444000 -555444 false true No definition available. No authoritative reference available. false 20 6 us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -157092000 -157092 false false 2 false true -218001000 -218001 false true No definition available. No authoritative reference available. false 21 5 us-gaap_ProvisionForOtherLosses us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -18642000 -18642 false false 2 false true 10680000 10680 false true No definition available. No authoritative reference available. false 22 5 us-gaap_IncreaseDecreaseInRegulatoryAssetsAndLiabilities us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -455577000 -455577 false false 2 false true 39964000 39964 false true No definition available. No authoritative reference available. false 23 5 us-gaap_OtherNoncashExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 151536000 151536 false false 2 false true -54266000 -54266 false true No definition available. No authoritative reference available. false 24 4 us-gaap_NetCashProvidedByUsedInOperatingActivities us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true 1016349000 1016349 false false 2 false true 913569000 913569 false true No definition available. No authoritative reference available. true 25 3 us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 26 4 us-gaap_PaymentsForCapitalImprovements us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -932056000 -932056 false false 2 false true -778818000 -778818 false true No definition available. No authoritative reference available. false 27 4 us-gaap_AllowanceForFundsUsedDuringConstructionInvestingActivities us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 32730000 32730 false false 2 false true 18371000 18371 false true No definition available. No authoritative reference available. false 28 4 etr_NuclearFuelPurchases etr false debit duration monetary The net cash outflow from any material that is commonly used in the generation of nuclear energy. false false false false false false false false false 1 false true -149568000 -149568 false false 2 false true -217487000 -217487 false true The net cash outflow from any material that is commonly used in the generation of nuclear energy. No authoritative reference available. false 29 4 etr_ProceedsFromSaleleasebackOfNuclearFuel etr false credit duration monetary The net cash inflow from any material that is commonly used in the generation of nuclear energy. false false false false false false false false false 1 false true 21210000 21210 false false 2 false true 152353000 152353 false true The net cash inflow from any material that is commonly used in the generation of nuclear energy. No authoritative reference available. false 30 4 us-gaap_ProceedsFromSaleOfProductiveAssets us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 8654000 8654 false false 2 false true 30725000 30725 false true No definition available. No authoritative reference available. false 31 4 us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true -56409000 -56409 false true No definition available. No authoritative reference available. false 32 4 us-gaap_ProceedsFromInsuranceSettlementInvestingActivities us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true 63088000 63088 false true No definition available. No authoritative reference available. false 33 4 etr_ChangesInTransitionChargeAccount etr false debit duration monetary Changes in the account in which recoveries from customers through a transition charge are deposited and and from which... false false false false false false false false false 1 false true 2962000 2962 false false 2 false true 9171000 9171 false true Changes in the account in which recoveries from customers through a transition charge are deposited and and from which payments are made to service the securitization bonds issued by Entergy Gulf States Reconstruction Funding. No authoritative reference available. false 34 4 etr_NypaValueSharingPayment etr false debit duration monetary Payments made under amended value sharing agreements with NYPA. false false false false false false false false false 1 false true -72000000 -72000 false false 2 false true -72000000 -72000 false true Payments made under amended value sharing agreements with NYPA. No authoritative reference available. false 35 4 us-gaap_PaymentsForProceedsFromOtherInvestingActivities us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 17111000 17111 false false 2 false true -95166000 -95166 false true No definition available. No authoritative reference available. false 36 4 us-gaap_ProceedsFromDecommissioningFund us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 1282206000 1282206 false false 2 false true 748181000 748181 false true No definition available. No authoritative reference available. false 37 4 us-gaap_PaymentsToInvestInDecommissioningFund us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -1330730000 -1330730 false false 2 false true -809653000 -809653 false true No definition available. No authoritative reference available. false 38 4 us-gaap_NetCashProvidedByUsedInInvestingActivities us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -1119481000 -1119481 false false 2 false true -1007644000 -1007644 false true No definition available. No authoritative reference available. false 40 4 etr_ProceedsFromIssuanceOf etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 41 5 us-gaap_ProceedsFromIssuanceOfLongTermDebt us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 783304000 783304 false false 2 false true 1800543000 1800543 false true No definition available. No authoritative reference available. false 42 5 us-gaap_ProceedsFromIssuanceOrSaleOfEquity us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 2691000 2691 false false 2 false true 27862000 27862 false true No definition available. No authoritative reference available. false 43 4 us-gaap_RepaymentsOfLongTermDebt us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -1022790000 -1022790 false false 2 false true -1383393000 -1383393 false true No definition available. No authoritative reference available. false 44 4 us-gaap_PaymentsForRepurchaseOfCommonStock us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true -369612000 -369612 false true No definition available. No authoritative reference available. false 45 4 us-gaap_ProceedsFromRepaymentsOfShortTermDebt us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true 150000000 150000 false true No definition available. No authoritative reference available. false 46 4 etr_DividendsPaid etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 47 5 us-gaap_PaymentsOfDividendsCommonStock us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -289159000 -289159 false false 2 false true -288172000 -288172 false true No definition available. No authoritative reference available. false 48 5 us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -9995000 -9995 false false 2 false true -10030000 -10030 false true No definition available. No authoritative reference available. false 49 4 us-gaap_NetCashProvidedByUsedInFinancingActivities us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -535949000 -535949 false false 2 false true -72802000 -72802 false true No definition available. No authoritative reference available. true 50 3 us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -503000 -503 false false 2 false true -430000 -430 false true No definition available. No authoritative reference available. false 51 3 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true -639584000 -639584 false false 2 false true -167307000 -167307 false true No definition available. No authoritative reference available. true 52 3 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant monetary No definition available. false false false false false false true false false 1 false true 1920491000 1920491 false false 2 false false 0 0 false true No definition available. No authoritative reference available. false 53 3 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant monetary No definition available. false false false false false false false true false 1 false true 1280907000 1280907 false false 2 false true 1086421000 1086421 false true No definition available. No authoritative reference available. false 55 4 etr_CashPaidReceivedDuringPeriodFor etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 56 5 us-gaap_CashPaidForCapitalizedInterest us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 321186000 321186 false false 2 false true 340077000 340077 false true No definition available. No authoritative reference available. false 57 5 us-gaap_IncomeTaxesPaidNet us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true -3139000 -3139 false false 2 false true 127856000 127856 false true No definition available. No authoritative reference available. false 58 4 etr_NoncashFinancingActivities etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false true No definition available. false 59 5 us-gaap_NotesReduction us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -500000000 -500000 false false 2 false true 0 0 false true No definition available. No authoritative reference available. false 60 5 us-gaap_StockIssued us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 true true 500000000 500000 false false 2 true true 0 0 false true No definition available. No authoritative reference available. false false 2 54 true Thousands UnKnown UnKnown false true XML 26 FilingSummary.xml IDEA: XBRL DOCUMENT 1.0.0.3 true Sheet 1000 - CONSOLIDATED STATEMENTS OF INCOME 1000 - CONSOLIDATED STATEMENTS OF INCOME R1.xml false Sheet 2000 - CONSOLIDATED STATEMENTS OF CASH FLOWS 2000 - CONSOLIDATED STATEMENTS OF CASH FLOWS R2.xml false Sheet 3000 - CONSOLIDATED BALANCE SHEETS 3000 - CONSOLIDATED BALANCE SHEETS R3.xml false Sheet 3100 - PARENTHETICAL DATA FOR CONSOLIDATED BALANCE SHEETS 3100 - PARENTHETICAL DATA FOR CONSOLIDATED BALANCE SHEETS R4.xml false Sheet 4000 - CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID IN CAPITAL 4000 - CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID IN CAPITAL R5.xml false Sheet 4100 - PARENTHETICAL DATA FOR CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID IN CAPITAL 4100 - PARENTHETICAL DATA FOR CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID IN CAPITAL R6.xml false Sheet 6000 - COMMITMENTS AND CONTINGENCIES 6000 - COMMITMENTS AND CONTINGENCIES R7.xml false Sheet 6010 - RATE AND REGULATORY MATTERS 6010 - RATE AND REGULATORY MATTERS R8.xml false Sheet 6020 - EQUITY 6020 - EQUITY R9.xml false Sheet 6030 - LINES OF CREDIT, RELATED SHORT TERM BORROWINGS, AND LONG TERM DEBT 6030 - LINES OF CREDIT, RELATED SHORT TERM BORROWINGS, AND LONG TERM DEBT R10.xml false Sheet 6040 - STOCK BASED COMPENSATION 6040 - STOCK BASED COMPENSATION R11.xml false Sheet 6050 - RETIREMENT AND OTHER POSTRETIREMENT BENEFITS 6050 - RETIREMENT AND OTHER POSTRETIREMENT BENEFITS R12.xml false Sheet 6060 - BUSINESS SEGMENT INFORMATION 6060 - BUSINESS SEGMENT INFORMATION R13.xml false Sheet 6070 - RISK MANAGEMENT AND FAIR VALUES 6070 - RISK MANAGEMENT AND FAIR VALUES R14.xml false Sheet 6080 - DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) 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M````"````',` XML 28 R7.xml IDEA: 6000 - COMMITMENTS AND CONTINGENCIES 1.0.0.3 false 6000 - COMMITMENTS AND CONTINGENCIES false 1 $ false false u000 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 u001 Standard http://www.xbrl.org/2003/instance shares xbrli 0 u002 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 3 1 etr_CommitmentsAndContingenciesAbstract etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 4 2 us-gaap_CommitmentsAndContingenciesDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 NOTE 1. COMMITMENTS AND CONTINGENCIES Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business. While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K. Nuclear Insurance See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy's nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy's non-nuclear property insurance program. Employment Litigation The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees and third parties not selected for open positions. These actions include, but are not limited to, allegations of wrongful employment actions; wage disputes and other claims under the Fair Labor Standards Act or its state counterparts; claims of race, gender and disability discrimination; disputes arising under collective bargaining agreements; unfair labor practice proceedings and other administrative proceedings before the National Labor Relations Board; claims of retaliation; and claims for or regarding benefits under various Entergy Corporation sponsored plans. Entergy and the Registrant Subsidiaries are responding to these suits and proceedings and deny liability to the claimants. Asbestos Litigation (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas. Subsequent Events Entergy evaluated events of which its management was aware subsequent to June 30, 2009, through the date that this quarterly report was issued, August 7, 2009. NOTE 1. COMMITMENTS AND CONTINGENCIES Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true XML 29 R17.xml IDEA: 6100 - NEW ACCOUNTING PRONOUNCEMENTS 1.0.0.3 false 6100 - NEW ACCOUNTING PRONOUNCEMENTS false 1 $ false false u000 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 u001 Standard http://www.xbrl.org/2003/instance shares xbrli 0 u002 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 0 etr_NewAccountingPronouncements etr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 1 etr_NewAccountingPronouncementsTextBlock etr false na duration string Description of New Accounting Pronouncements Not yet Adopted false false false false false false false false false 1 false false 0 0 NOTE 11. NEW ACCOUNTING PRONOUNCEMENTS In December 2008 the FASB issued FSP FAS 132(R)-1 "Employers' Disclosures about Postretirement Benefit Plan Assets" (FSP 132(R)-1) which requires enhanced disclosures about plan assets of defined benefit pension and other postretirement plans including disclosure of each major category of plan assets using the fair value hierarchy and concentrations of risk within plan assets. FSP 132(R)-1 is effective for fiscal years ending after December 15, 2009. In June 2009 the FASB issued Statement of Financial Accounting Standards 167, "Amendments to FASB Interpretation No. 46R (FIN 46R)" (SFAS 167). FIN 46R is entitled "Consolidation of Variable Interest Entities". SFAS 167 amends FIN 46R to replace the quantitative-based risks and rewards calculation for determining which enterprise, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which enterprise has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. SFAS 167 also requires additional disclosures on an interim and annual basis about an enterprise's involvement in variable interest entities. The standard will be effective for Entergy in the first quarter of 2010. Entergy does not expect the adoption of SFAS 167 to have a material effect on its financial posi tion, results of operations, or cash flows. NOTE 11. NEW ACCOUNTING PRONOUNCEMENTS In December 2008 the FASB issued FSP FAS 132(R)-1 "Employers' Disclosures about Postretirement Benefit Plan Assets" false false Description of New Accounting Pronouncements Not yet Adopted No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true -----END PRIVACY-ENHANCED MESSAGE-----