Equity

9 Months Ended

Sep. 30, 2015

EQUITY (Entergy Corporation and Entergy Louisiana)

Common Stock

Earnings (loss) per Share

The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations:



	For the Three Months Ended September 30,
	2015							2014
	(In Millions, Except Per Share Data)
Basic earnings (loss) per share	Loss			Shares	$/share			Income		Shares	$/share
Net income (loss) attributable to Entergy Corporation		($723.0	)	179.2		($4.04	)		$230.0	179.6		$1.28
Average dilutive effect of:
Stock options				—	—					0.3	—
Other equity plans				—	—					0.6	(0.01		)
Diluted earnings (loss) per share		($723.0	)	179.2		($4.04	)		$230.0	180.5		$1.27

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 7.4 million for the three months ended September 30, 2015 and approximately 5.2 million for the three months ended September 30, 2014.



	For the Nine Months Ended September 30,
	2015							2014
	(In Millions, Except Per Share Data)
Basic earnings (loss) per share	Loss			Shares	$/share			Income		Shares	$/share
Net income (loss) attributable to Entergy Corporation		($276.1	)	179.4		($1.54	)		$820.6	179.3		$4.58
Average dilutive effect of:
Stock options				—	—					0.2	(0.01		)
Other equity plans				—	—					0.4	(0.01		)
Diluted earnings (loss) per share		($276.1	)	179.4		($1.54	)		$820.6	179.9		$4.56

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 7.4 million for the nine months ended September 30, 2015 and approximately 6.6 million for the nine months ended September 30, 2014.

Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K.

Treasury Stock

During the nine months ended September 30, 2015, Entergy Corporation issued 615,075 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. During the nine months ended September 30, 2015, Entergy Corporation repurchased 1,468,984 shares of its common stock for a total purchase price of $99.8 million.

Preferred Membership Interests

In September 2015, Entergy Louisiana redeemed its $100 million 6.95% Series preferred membership interests and Entergy Gulf States Louisiana repurchased and canceled its $10 million Series A 8.25% preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination. See Note 2 to the financial statements herein for a discussion of the business combination.

Retained Earnings

On October 30, 2015, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.85 per share, payable on December 1, 2015, to holders of record as of November 12, 2015.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component:



	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, July 1, 2015		$107,484			($553,903	)		$396,818			$2,785			($46,816	)
Other comprehensive income (loss) before reclassifications	31,620			—			(50,760		)	(469		)	(19,609		)
Amounts reclassified from accumulated other comprehensive income (loss)	(55,604		)	7,437			(3,206		)	—			(51,373		)
Net other comprehensive income (loss) for the period	(23,984		)	7,437			(53,966		)	(469		)	(70,982		)
Ending balance, September 30, 2015		$83,500			($546,466	)		$342,852			$2,316			($117,798	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2014 by component:



	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, July 1, 2014		($74,767	)		($297,460	)		$399,480			$3,815			$31,068
Other comprehensive income (loss) before reclassifications	5,783			—			(9,475		)	(662		)	(4,354		)
Amounts reclassified from accumulated other comprehensive income (loss)	(8,271		)	2,956			(1,015		)	—			(6,330		)
Net other comprehensive income (loss) for the period	(2,488		)	2,956			(10,490		)	(662		)	(10,684		)
Ending balance, September 30, 2014		($77,255	)		($294,504	)		$388,990			$3,153			$20,384

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component:



	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2015		$98,118			($569,789	)		$426,695			$2,669			($42,307	)
Other comprehensive income (loss) before reclassifications	99,520			13			(63,210		)	(353		)	35,970
Amounts reclassified from accumulated other comprehensive income (loss)	(114,138		)	23,310			(20,633		)	—			(111,461		)
Net other comprehensive income (loss) for the period	(14,618		)	23,323			(83,843		)	(353		)	(75,491		)
Ending balance, September 30, 2015		$83,500			($546,466	)		$342,852			$2,316			($117,798	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2014 by component:



	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2014		($81,777	)		($288,223	)		$337,256			$3,420			($29,324	)
Other comprehensive income (loss) before reclassifications	(114,587		)	—			56,056			(267		)	(58,798		)
Amounts reclassified from accumulated other comprehensive income (loss)	119,109			(6,281		)	(4,322		)	—			108,506
Net other comprehensive income (loss) for the period	4,522			(6,281		)	51,734			(267		)	49,708
Ending balance, September 30, 2014		($77,255	)		($294,504	)		$388,990			$3,153			$20,384

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015:



	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance July 1, 2015		($25,944	)
Amounts reclassified from accumulated other comprehensive income (loss)	(26		)
Net other comprehensive income (loss) for the period	(26		)
Ending balance, September 30, 2015		($25,970	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2014:



	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance July 1, 2014		($10,224	)
Amounts reclassified from accumulated other comprehensive income (loss)	(287		)
Net other comprehensive income (loss) for the period	(287		)
Ending balance, September 30, 2014		($10,511	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015:



	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, January 1, 2015		($25,876	)
Amounts reclassified from accumulated other comprehensive income (loss)	(94		)
Net other comprehensive income (loss) for the period	(94		)
Ending balance, September 30, 2015		($25,970	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2014:



	Pension and Other Postretirement Liabilities
	(In Thousands)
Beginning balance, January 1, 2014		($9,635	)
Amounts reclassified from accumulated other comprehensive income (loss)	(876		)
Net other comprehensive income (loss) for the period	(876		)
Ending balance, September 30, 2014		($10,511	)

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$86,020		Competitive business operating revenues
Interest rate swaps	(477		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	85,543
	(29,939		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$55,604

Pension and other postretirement liabilities
Amortization of prior-service credit		$5,985		(a)
Amortization of loss	(17,588		)	(a)
Total amortization	(11,603		)
	4,166			Income taxes
Total amortization (net of tax)		($7,437	)

Net unrealized investment gain (loss)
Realized gain (loss)		$6,286		Interest and investment income
	(3,080		)	Income taxes
Total realized investment gain (loss) (net of tax)		$3,206

Total reclassifications for the period (net of tax)		$51,373


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2014 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$13,000		Competitive business operating revenues
Interest rate swaps	(275		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	12,725
	(4,454		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$8,271

Pension and other postretirement liabilities
Amortization of prior-service credit		$5,074		(a)
Amortization of loss	(8,952		)	(a)
Settlement loss	(423		)	(a)
Total amortization	(4,301		)
	1,345			Income taxes
Total amortization (net of tax)		($2,956	)

Net unrealized investment gain (loss)
Realized gain (loss)		$1,990		Interest and investment income
	(975		)	Income taxes
Total realized investment gain (loss) (net of tax)		$1,015

Total reclassifications for the period (net of tax)		$6,330


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$177,129		Competitive business operating revenues
Interest rate swaps	(1,533		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	175,596
	(61,458		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$114,138

Pension and other postretirement liabilities
Amortization of prior-service credit		$17,956		(a)
Amortization of loss	(52,764		)	(a)
Total amortization	(34,808		)
	11,498			Income taxes
Total amortization (net of tax)		($23,310	)

Net unrealized investment gain (loss)
Realized gain (loss)		$40,457		Interest and investment income
	(19,824		)	Income taxes
Total realized investment gain (loss) (net of tax)		$20,633

Total reclassifications for the period (net of tax)		$111,461


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2014 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		($182,275	)	Competitive business operating revenues
Interest rate swaps	(970		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	(183,245		)
	64,136			Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		($119,109	)

Pension and other postretirement liabilities
Amortization of prior-service credit		$15,227		(a)
Amortization of loss	(26,903		)	(a)
Settlement loss	(2,971		)	(a)
Total amortization	(14,647		)
	20,928			Income taxes
Total amortization (net of tax)		$6,281

Net unrealized investment gain (loss)
Realized gain (loss)		$8,474		Interest and investment income
	(4,152		)	Income taxes
Total realized investment gain (loss) (net of tax)		$4,322

Total reclassifications for the period (net of tax)		($108,506	)


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$845		(a)
Amortization of loss	(803		)	(a)
Total amortization	42
	(16		)	Income taxes
Total amortization (net of tax)	26

Total reclassifications for the period (net of tax)		$26


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2014 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$844		(a)
Amortization of loss	(378		)	(a)
Total amortization	466
	(179		)	Income taxes
Total amortization (net of tax)	287

Total reclassifications for the period (net of tax)		$287


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$2,535		(a)
Amortization of loss	(2,407		)	(a)
Total amortization	128
	(34		)	Income taxes
Total amortization (net of tax)	94

Total reclassifications for the period (net of tax)		$94


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2014 are as follows:



	Amounts reclassified from AOCI			Income Statement Location
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$2,533		(a)
Amortization of loss	(1,134		)	(a)
Total amortization	1,399
	(523		)	Income taxes
Total amortization (net of tax)	876

Total reclassifications for the period (net of tax)		$876


(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details.

Entergy Louisiana [Member]

Equity