QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy)

Operating results for the four quarters of 2020 and 2019 for Entergy Corporation and subsidiaries were:


	Operating Revenues	Operating Income	Consolidated Net Income	Net Income Attributable to Entergy Corporation
	(In Thousands)
2020:
First Quarter	$2,427,179	$399,756	$123,294	$118,714
Second Quarter	$2,412,788	$439,311	$365,113	$360,533
Third Quarter	$2,903,568	$778,016	$525,699	$521,119
Fourth Quarter	$2,370,101	$152,112	$392,547	$387,968
2019:
First Quarter	$2,609,584	$283,254	$258,646	$254,537
Second Quarter	$2,666,209	$338,775	$240,533	$236,424
Third Quarter	$3,140,575	$519,929	$369,459	$365,240
Fourth Quarter	$2,462,305	$248,539	$389,606	$385,025

Earnings per average common share


	2020		2019
	Basic	Diluted	Basic	Diluted
First Quarter	$0.59	$0.59	$1.34	$1.32
Second Quarter	$1.80	$1.79	$1.22	$1.22
Third Quarter	$2.60	$2.59	$1.84	$1.82
Fourth Quarter	$1.95	$1.93	$1.96	$1.94

Results of operations for 2020 include resolution of the 2014-2015 IRS audit, which resulted in a reduction in deferred income tax expense of $230 million that includes a $396 million reduction in deferred income tax expense at Utility related to the basis of assets contributed in the 2015 Entergy Louisiana and Entergy Gulf States Louisiana business combination, including the recognition of previously uncertain tax positions, and deferred income tax expense of $105 million at Entergy Wholesale Commodities and $61 million at Parent and Other resulting from the revaluation of net operating losses as a result of the release of the reserves. See Note 3 to the financial statements for further discussion of the IRS audit resolution.

Results of operations for 2019 include: 1) a loss of $190 million ($156 million net-of-tax) as a result of the sale of the Pilgrim plant in August 2019; 2) a $156 million reduction in income tax expense recognized by Entergy Wholesale Commodities as a result of an internal restructuring; and 3) impairment charges of $100 million ($79 million net-of-tax) due to costs being charged directly to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to exit the Entergy Wholesale Commodities’ merchant power business. See Note 3 to the financial statements for further discussion of the internal restructuring. See Note 14 to the financial statements for further discussion of the sale of the Pilgrim plant.

The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter. Operating results for the Registrant Subsidiaries for the four quarters of 2020 and 2019 were:

Operating Revenues


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$481,912	$930,647	$293,922	$149,302	$339,336	$130,664
Second Quarter	$491,767	$1,011,652	$297,954	$147,343	$372,194	$126,049
Third Quarter	$644,389	$1,120,022	$356,496	$182,064	$494,922	$148,517
Fourth Quarter	$466,426	$1,007,541	$299,482	$155,132	$380,673	$90,228
2019:
First Quarter	$545,812	$959,330	$282,244	$163,194	$340,474	$140,104
Second Quarter	$542,929	$1,106,317	$302,737	$175,793	$363,580	$139,009
Third Quarter	$687,526	$1,231,677	$398,732	$194,204	$442,877	$145,472
Fourth Quarter	$483,327	$987,851	$339,330	$153,032	$342,024	$148,825

Operating Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$67,835	$166,779	$41,181	$12,091	$36,060	$35,309
Second Quarter	$107,949	$256,412	$67,705	$7,602	$56,443	$31,236
Third Quarter	$217,648	$324,496	$93,843	$32,322	$108,306	$48,896
Fourth Quarter	$9,126	$117,134	$33,466	$12,397	$46,040	$1,303
2019:
First Quarter	$42,471	$153,944	$30,792	$16,136	$16,741	$31,368
Second Quarter	$69,774	$241,520	$45,607	$17,509	$36,022	$24,300
Third Quarter	$182,176	$336,754	$87,024	$28,876	$69,510	$29,086
Fourth Quarter	$32,576	$164,424	$40,331	$6,164	$24,229	$30,231

Net Income


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas	System Energy
	(In Thousands)
2020:
First Quarter	$44,595	$189,396	$22,526	$11,186	$32,707	$28,513
Second Quarter	$60,170	$170,459	$38,893	$4,929	$46,868	$28,991
Third Quarter	$135,843	$223,466	$58,589	$19,450	$92,164	$31,064
Fourth Quarter	$4,624	$499,031	$20,575	$13,773	$43,334	$10,563
2019:
First Quarter	$39,121	$127,633	$15,398	$9,023	$21,342	$23,578
Second Quarter	$50,299	$183,084	$26,667	$13,003	$38,936	$24,472
Third Quarter	$149,716	$255,260	$56,237	$24,908	$73,224	$25,031
Fourth Quarter	$23,828	$125,560	$21,623	$5,695	$25,895	$26,039

Earnings Applicable to Common Equity/Stock


		Entergy Texas
	(In Thousands)
2020:
First Quarter		$32,237
Second Quarter		$46,397
Third Quarter		$91,694
Fourth Quarter		$42,863
2019:
First Quarter		$21,342
Second Quarter		$38,936
Third Quarter		$73,114
Fourth Quarter		$25,425