Equity

6 Months Ended

Jun. 30, 2017

EQUITY (Entergy Corporation and Entergy Louisiana)

Common Stock

Earnings per Share

The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements:



	For the Three Months Ended June 30,
	2017						2016
	(In Millions, Except Per Share Data)
Basic earnings per share	Income		Shares	$/share			Income		Shares	$/share
Net income attributable to Entergy Corporation		$409.9	179.5		$2.28			$567.3	178.8		$3.17
Average dilutive effect of:
Stock options			0.2	—					0.2	—
Other equity plans			0.5	(0.01		)			0.5	(0.01		)
Diluted earnings per share		$409.9	180.2		$2.27			$567.3	179.5		$3.16

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 2.5 million for the three months ended June 30, 2017 and approximately 4.1 million for the three months ended June 30, 2016.



	For the Six Months Ended June 30,
	2017						2016
	(In Millions, Except Per Share Data)
Basic earnings per share	Income		Shares	$/share			Income		Shares	$/share
Net income attributable to Entergy Corporation		$492.5	179.4		$2.75			$797.3	178.7		$4.46
Average dilutive effect of:
Stock options			0.2	—					0.1	—
Other equity plans			0.4	(0.01		)			0.4	(0.01		)
Diluted earnings per share		$492.5	180.0		$2.74			$797.3	179.2		$4.45

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.7 million for the six months ended June 30, 2017 and approximately 5.1 million for the six months ended June 30, 2016.

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 six months ended June 30, 2017, Entergy Corporation issued 390,013 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the six months ended June 30, 2017.

Retained Earnings

On July 28, 2017, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on September 1, 2017, to holders of record as of August 10, 2017.

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 June 30, 2017 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, April 1, 2017		$3,465			($460,814	)		$467,561			$748			$10,960
Other comprehensive income (loss) before reclassifications	28,057			—			33,870			(748		)	61,179
Amounts reclassified from accumulated other comprehensive income (loss)	(8,108		)	10,916			(22,174		)	—			(19,366		)
Net other comprehensive income (loss) for the period	19,949			10,916			11,696			(748		)	41,813
Ending balance, June 30, 2017		$23,414			($449,898	)		$479,257			$—			$52,773

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended June 30, 2016 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, April 1, 2016		$96,464			($459,042	)		$390,626			$1,744			$29,792
Other comprehensive income (loss) before reclassifications	(34,138		)	—			24,016			(904		)	(11,026		)
Amounts reclassified from accumulated other comprehensive income (loss)	(29,903		)	5,043			(3,061		)	—			(27,921		)
Net other comprehensive income (loss) for the period	(64,041		)	5,043			20,955			(904		)	(38,947		)
Ending balance, June 30, 2016		$32,423			($453,999	)		$411,581			$840			($9,155	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the six months ended June 30, 2017 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, 2017		$3,993			($469,446	)		$429,734			$748			($34,971	)
Other comprehensive income (loss) before reclassifications	60,665			—			73,742			(748		)	133,659
Amounts reclassified from accumulated other comprehensive income (loss)	(41,244		)	19,548			(24,219		)	—			(45,915		)
Net other comprehensive income (loss) for the period	19,421			19,548			49,523			(748		)	87,744
Ending balance, June 30, 2017		$23,414			($449,898	)		$479,257			$—			$52,773

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the six months ended June 30, 2016 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, 2016		$105,970			($466,604	)		$367,557			$2,028			$8,951
Other comprehensive income (loss) before reclassifications	56,169			—			49,048			(1,188		)	104,029
Amounts reclassified from accumulated other comprehensive income (loss)	(129,716		)	12,605			(5,024		)	—			(122,135		)
Net other comprehensive income (loss) for the period	(73,547		)	12,605			44,024			(1,188		)	(18,106		)
Ending balance, June 30, 2016		$32,423			($453,999	)		$411,581			$840			($9,155	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended June 30, 2017 and 2016:



	Pension and Other Postretirement Liabilities
	2017			2016
	(In Thousands)
Beginning balance, April 1,		($48,812	)		($56,675	)
Amounts reclassified from accumulated other comprehensive income (loss)	(310		)	(230		)
Net other comprehensive income (loss) for the period	(310		)	(230		)
Ending balance, June 30,		($49,122	)		($56,905	)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the six months ended June 30, 2017 and 2016:



	Pension and Other Postretirement Liabilities
	2017			2016
	(In Thousands)
Beginning balance, January 1,		($48,442	)		($56,412	)
Amounts reclassified from accumulated other comprehensive income (loss)	(680		)	(493		)
Net other comprehensive income (loss) for the period	(680		)	(493		)
Ending balance, June 30,		($49,122	)		($56,905	)

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended June 30, 2017 and 2016 are as follows:



	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$12,695			$45,975		Competitive business operating revenues
Interest rate swaps	(219		)	30			Miscellaneous - net
Total realized gain (loss) on cash flow hedges	12,476			46,005
	(4,368		)	(16,102		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$8,108			$29,903

Pension and other postretirement liabilities
Amortization of prior-service credit		$6,564			$7,355		(a)
Amortization of loss	(21,554		)	(15,177		)	(a)
Settlement loss	(1,765		)	—			(a)
Total amortization	(16,755		)	(7,822		)
	5,839			2,779			Income taxes
Total amortization (net of tax)		($10,916	)		($5,043	)

Net unrealized investment gain (loss)
Realized gain (loss)		$43,479			$6,000		Interest and investment income
	(21,305		)	(2,939		)	Income taxes
Total realized investment gain (loss) (net of tax)		$22,174			$3,061

Total reclassifications for the period (net of tax)		$19,366			$27,921


(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 six months ended June 30, 2017 and 2016 are as follows:



	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$63,922			$199,933		Competitive business operating revenues
Interest rate swaps	(469		)	(370		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	63,453			199,563
	(22,209		)	(69,847		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$41,244			$129,716

Pension and other postretirement liabilities
Amortization of prior-service credit		$13,126			$14,710		(a)
Amortization of loss	(43,125		)	(30,352		)	(a)
Settlement loss	(1,765		)	—			(a)
Total amortization	(31,764		)	(15,642		)
	12,216			3,037			Income taxes
Total amortization (net of tax)		($19,548	)		($12,605	)

Net unrealized investment gain (loss)
Realized gain (loss)		$47,489			$9,850		Interest and investment income
	(23,270		)	(4,826		)	Income taxes
Total realized investment gain (loss) (net of tax)		$24,219			$5,024

Total reclassifications for the period (net of tax)		$45,915			$122,135


(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 June 30, 2017 and 2016 are as follows:



	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$1,934			$1,947		(a)
Amortization of loss	(1,332		)	(1,573		)	(a)
Total amortization	602			374
	(292		)	(144		)	Income taxes
Total amortization (net of tax)	310			230

Total reclassifications for the period (net of tax)		$310			$230


(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 six months ended June 30, 2017 and 2016 are as follows:



	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$3,868			$3,894		(a)
Amortization of loss	(2,664		)	(3,142		)	(a)
Total amortization	1,204			752
	(524		)	(259		)	Income taxes
Total amortization (net of tax)	680			493

Total reclassifications for the period (net of tax)		$680			$493


(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