-----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, IAaGH6jHA1GL4C3VELIl52Jb1iQXSQ8Bkcqv+8bGD4zVhKfR+8ghGct6dXEWdNLT HoJw/1kZJI186zMTNZYpwA== 0000065984-96-000111.txt : 19960724 0000065984-96-000111.hdr.sgml : 19960724 ACCESSION NUMBER: 0000065984-96-000111 CONFORMED SUBMISSION TYPE: U-1 PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 19960722 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY CORP /DE/ CENTRAL INDEX KEY: 0000065984 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 135550175 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-1 SEC ACT: 1935 Act SEC FILE NUMBER: 070-08889 FILM NUMBER: 96597212 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045295262 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY GSU HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY CORP /FL/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH UTILITIES INC DATE OF NAME CHANGE: 19890521 U-1 1 File No. 70- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM U-1 ____________________________ APPLICATION-DECLARATION Under THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ____________________________ Entergy Corporation 639 Loyola Avenue New Orleans, LA 70113 (Name of company filing this statement and address of principal executive offices) ____________________________ Entergy Corporation (Name of top registered holding company parent of each applicant or declarant) ____________________________ Terry L. Ogletree Gerald D. McInvale President Executive Vice President Entergy Enterprises, Inc. Chief Financial Officer 900 South Shackleford Road Entergy Corporation Little Rock, AR 72211 639 Loyola Avenue New Orleans, LA 70113 (Names and addresses of agents for service) ____________________________ The Commission is also requested to send copies of any communications in connection with this matter to: Frederick F. Nugent, Esq. Laurence M. Hamric, Esq. General Counsel General Attorney Entergy Enterprises, Inc. Entergy Services, Inc. 900 South Shackleford Road 639 Loyola Avenue Little Rock, AR 72211 New Orleans, LA 70113 Thomas C. Havens, Esq. Mayer, Brown & Platt 1675 Broadway New York, New York 10019 Item 1. Description of Proposed Transaction. Entergy Corporation ("Entergy"), a Delaware corporation which is a registered holding company under the Public Utility Holding Company Act of 1935, as amended (the "Act"), hereby requests any requisite approval of the Securities and Exchange Commission (the "Commission") under the Act for Entergy to reorganize its holdings in Entergy Richmond Power Corporation ("Entergy Richmond"), a Delaware corporation and an existing indirect subsidiary company of Entergy which currently qualifies as an "exempt wholesale generator" ("EWG") as defined in Section 32(a) of the Act, upon the consummation of certain transactions which will cause Entergy Richmond to lose its EWG status under the Act, all as more particularly described herein. I. Background. A. The Entergy System. Entergy and its various direct and indirect subsidiary companies comprise the Entergy System. Entergy, through its public-utility subsidiaries, is engaged principally in the generation, transmission, distribution and sale of electricity at retail and wholesale and the purchase of electricity at wholesale. Entergy provides retail electric service to approximately 2.4 million customers in the States of Arkansas, Louisiana, Mississippi, Tennessee and Texas, and retail gas service in the Baton Rouge and New Orleans, Louisiana areas. Entergy also is engaged in various energy-related businesses through its wholly-owned subsidiary, Entergy Enterprises, Inc., and other subsidiaries. One such subsidiary is Entergy Power Development Corporation ("EPDC"), an EWG which develops, acquires and holds, through various direct and indirect EWG subsidiaries, Entergy's investments in "eligible facilities" within the meaning of Section 32(a) of the Act. Such investments include a 50% ownership interest, held through its wholly-owned subsidiary Entergy Richmond, in Richmond Power Enterprise, L.P. ("Richmond Power"), a Delaware limited partnership which is also an EWG. The other 50% ownership interest in Richmond Power is owned by Enron-Richmond Power Corp. ("Enron-Richmond"), an indirect wholly- owned subsidiary of Enron Corporation. Richmond Power currently owns and operates the Richmond Cogeneration Facility (the "Facility"), a 250 MW electric generating plant located in Richmond, Virginia. Richmond Power currently sells all of the capacity and energy from the Facility at wholesale to Virginia Electric and Power Company ("VEPCO") under a long-term power purchase agreement (the "PPA"), and the thermal energy produced by the Facility to an adjacent industrial customer under a steam sales agreement (the "Steam Sales Agreement"). In order to resolve disputes between Richmond Power and VEPCO regrading the status of the Facility as a "qualifying facility" under the Public Utility Regulatory Policies Act of 1978, and Richmond Power's performance under the PPA, Richmond Power and VEPCO have entered into an agreement providing for the sale of the Facility to VEPCO and the amendment and transfer of the PPA from Richmond Power to Enron Power Marketing, Inc. ("Enron Marketing"), an affiliate of Enron-Richmond, subject to satisfaction of certain conditions (including consent of Richmond Power's lenders, consent of the "steam host" to termination of the Steam Sales Agreement and receipt of all requisite state and federal regulatory approvals). Upon satisfaction of such conditions, ownership of the Facility will be transferred in its entirety to VEPCO, and VEPCO will assume full responsibility for the operation, maintenance and management of the Facility. VEPCO will make a cash payment to Richmond Power in consideration of such transfer. Concurrently with such transfer, the PPA will be amended, and Richmond Power's interest therein will be assigned to Enron Marketing. As consideration for the assignment of the amended PPA to Enron Marketing, Enron Marketing will agree to make certain payments to Richmond Power, including a "pass through" of all or most of the capacity payments that will be made to Enron Marketing under the amended PPA. Payments received by Richmond Power from Enron Marketing will be used to service and retire Richmond Power's term debt obligations (expected to be take approximately 10 years), and to provide some incremental income to Richmond Power. Richmond Power would continue in existence for the sole purpose of receiving and distributing such payments, and will not be engaged in any other business. II. Proposed Transactions. After the transactions described above are consummated, Richmond Power will no longer own or operate any "eligible facilities" within the meaning of Section 32(a) of the Act. Entergy Richmond believes that, in such event, Richmond Power and Entergy Richmond will no longer qualify as EWGs under Section 32. Moreover, in light of the "exclusivity" requirement of Section 32, the continued ownership by EPDC of its interests in Entergy Richmond and Richmond Power following the loss of their EWG status could call into question EPDC's status as an EWG. Accordingly, Entergy proposes to acquire from EPDC its ownership interest in Entergy Richmond (and, indirectly, in Richmond Power). The transfer of the shares of Entergy Richmond would occur contemporaneously with the closing of the sale of the Facility to VEPCO. At least initially, Entergy would directly acquire all issued and outstanding shares of Entergy Richmond from EPDC. Entergy may ultimately choose to transfer its interests in Entergy Richmond and Richmond Power to a new special purpose subsidiary company. Entergy does not currently anticipate making any additional investments in Entergy Richmond or Richmond Power. Entergy will only make such additional investments pursuant to further Commission authorization or as otherwise permitted by rule or regulation under the Act. III. Compliance With Rules 53 and 54. Entergy hereby represents that, pursuant to Rule 54 under the Act, all of the criteria of Rule 53(a) and (b) are satisfied. Item 2. Fees, Commissions and Expenses. The estimated fees, commissions and expenses expected to be paid or incurred, directly or indirectly, in connection with the transactions described herein will be supplied by amendment. Item 3. Applicable Statutory Provisions. The transactions proposed herein may be subject to Sections 6(a), 7, 9(a), and 10 of the Act and Rules 53 and 54 thereunder. To the extent that the proposed transactions are considered by the Commission to require authorization, approval or exemption under any Section of the Act or rule thereunder, other than those specifically referred to above, request for such authorization, approval or exemption is hereby made. Item 4. Regulatory Approval. No state or Federal commission, other than the Commission, has jurisdiction over the transactions proposed herein. Item 5. Procedure. Entergy respectfully requests that the Commission issue its order granting and permitting this Application-Declaration to become effective as soon as practicable, but in any event not later than September 30, 1996. Entergy hereby (i) waives a recommended decision by a hearing officer or any other responsible officer of the Commission, (ii) agrees that the Division of Investment Management may assist in the preparation of the decision of the Commission, and (iii) requests that there be no waiting period between the issuance of the order of the Commission and the day on which such order is to become effective. Item 6. Exhibits and Financial Statements. (a) Exhibits: F - Opinion(s) of Counsel (to be filed by amendment). G - Financial Data Schedules. H - Proposed Form of Notice. (b) Financial Statements: Financial Statements of Entergy Corporation and of Entergy Corporation and subsidiaries, consolidated, as of March 31, 1996 (reference also is made to Exhibit G hereto). Except as reflected in the Financial Statements, no material changes not in the ordinary course of business have taken place since March 31, 1996. Item 7. Information as to Environmental Effects. The proposed transactions do not involve any major Federal action significantly affecting the quality of the human environment. No Federal agency has prepared or is preparing an environmental impact statement with respect to the proposed transactions. SIGNATURES Pursuant to the requirements of the Public Utility Holding Company Act of 1935, the undersigned company has duly caused this statement to be signed on its behalf by the undersigned thereunto duly authorized. ENTERGY CORPORATION By: /s/ Gerald D. McInvale Gerald D. McInvale Executive Vice President and Chief Financial Officer Dated: July 22, 1996 _______________________________ The Entergy System currently consists of: (1) five regulated retail electric utility companies - Entergy Arkansas, Inc., Entergy Gulf States, Inc., Entergy Louisiana, Inc., Entergy Mississippi, Inc. and Entergy New Orleans, Inc. (such companies, collectively, the "System operating companies"); (2) a wholesale electric generating company that sells power to the System operating companies (other than Entergy Gulf States, Inc.) - System Energy Resources, Inc.; (3) a service company subsidiary - Entergy Services, Inc.; (4) a nuclear management service company - Entergy Operations, Inc.; (5) a fuel supply subsidiary - System Fuels, Inc.; (6) a company that markets and sells its capacity and energy at wholesale to non-associate bulk power purchasers - Entergy Power, Inc.; (7) a company that develops energy and energy-related projects on behalf of the Entergy System, and markets skills and products developed by System companies - Entergy Enterprises, Inc.; (8) an energy management services company - Entergy Integrated Solutions, Inc.; and (9) various companies formed to own Entergy's interests in domestic and foreign energy, energy-related and telecommunications businesses. Each of Entergy Richmond and Enron-Richmond owns a 49% limited partnership interest and a 1% general partnership interest in Richmond Power. As of June 1, 1996, Entergy's "aggregate investment" (as defined in Rule 53(a)) in Richmond Power was approximately $12.5 million. At that time, in accordance with Federal Energy Regulatory Commission ("FERC") regulations, each of Entergy Richmond, Richmond Power and Enron-Richmond would notify the FERC that it ceases to be an EWG under the Act. Entergy would seek any requisite Commission approval to organize one or more such special purpose subsidiaries. EX-99 2 EXHIBIT H UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 Release No. 35-_______/ File No. 70-________ ___________________________________ In the Matter of : : : ENTERGY CORPORATION : : : ___________________________________: NOTICE OF APPLICATION CONCERNING PROPOSED ACQUISITION OF SECURITIES Entergy Corporation ("Entergy"), 639 Loyola Avenue, New Orleans, Louisiana 70113, a registered holding company, has filed an application-declaration pursuant to Sections 6(a), 7, 9(a) and 10 of the Act and Rules 53 and 54 thereunder. Entergy presently holds, indirectly through its subsidiaries Entergy Power Development Corporation ("EPDC") and Entergy Richmond Power Corporation ("Entergy Richmond"), a 50% ownership interest Richmond Power Enterprise, L.P. ("Richmond Power"). Richmond Power currently owns and operates a 250 MW electric generating facility located in Richmond, Virginia (the "Facility"). Each of EPDC, Entergy Richmond and Richmond Power is an "exempt wholesale generator" ("EWGs"), as defined in Section 32 of the Act. As of June 1, 1996, Entergy's "aggregate investment" in Richmond Power was approximately $12.5 million. Richmond Power currently sells all of the capacity and energy from the Facility at wholesale to Virginia Electric and Power Company ("VEPCO") under a long-term power purchase agreement (the "PPA"). In order to resolve disputes between Richmond Power and VEPCO regrading the status of the Facility as a "qualifying facility" under the Public Utility Regulatory Policies Act of 1978, and Richmond Power's performance under the PPA, Richmond Power and VEPCO have entered into an agreement providing for the sale of the Facility to VEPCO and the amendment and transfer of the PPA from Richmond Power to Enron Power Marketing, Inc. ("Enron Marketing"), an affiliate of Enron- Richmond Power Corp., the co-owner of Richmond Power, subject to satisfaction of certain conditions (including consent of Richmond Power's lenders and receipt of all requisite state and federal regulatory approvals). Upon satisfaction of such conditions, ownership of the Facility will be transferred in its entirety to VEPCO, and VEPCO will assume full responsibility for the operation, maintenance and management of the Facility. VEPCO will make a cash payment to Richmond Power in consideration of such transfer. Concurrently with such transfer, the PPA will be amended, and Richmond Power's interest therein will be assigned to Enron Marketing. As consideration for the assignment of the amended PPA to Enron Marketing, Enron Marketing will agree to make certain payments to Richmond Power, including a "pass through" of all or most of the capacity payments that will be made to Enron Marketing under the amended PPA. Payments received by Richmond Power from Enron Marketing will be used to service and retire Richmond Power's term debt obligations and to provide some incremental income to Richmond Power. Richmond Power would continue in existence for the sole purpose of receiving and distributing such payments, and will not be engaged in any other business. After the transactions described above are consummated, Richmond Power will no longer own or operate any "eligible facilities" within the meaning of Section 32(a) of the Act. In such event, Entergy Richmond believes that Richmond Power and Entergy Richmond will no longer qualify as EWGs under Section 32. Moreover, in light of the "exclusivity" requirement of Section 32, the continued ownership by EPDC of its interests in Entergy Richmond and Richmond Power following the loss of their EWG status could call into question EPDC's status as an EWG. Entergy therefore is requesting an order that would permit Entergy to reorganize its holdings in Richmond Power. At least initially, Entergy would directly acquire the shares of Entergy Richmond from EPDC. Entergy may ultimately choose to transfer its interests in Entergy Richmond and Richmond Power to a new special purpose subsidiary company. Entergy does not currently anticipate making any additional investments in Entergy Richmond or Richmond Power. Entergy will only make such additional investments pursuant to further Commission authorization or as otherwise permitted rule or regulation under the Act. The application-declaration and any amendments thereto are available for the public inspection through the Commission's Office of Public Reference. Interested persons wishing to comment or request a hearing should submit their views in writing no later than [___________, 1996], to the Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549, and serve a copy on the applicants-declarants at the addresses specified above. Proof of service (by affidavit or, in case of an attorney at law, by certificate) should be filed with the request. Any request for a hearing shall identify specifically the issues of fact or law that are disputed. A person who so requests will be notified of any hearing, if ordered, and will receive a copy of any notice or order issued in this matter. After said date, the application-declaration, as filed or as it may be amended, may be granted and permitted to become effective. For the Commission, by the Office of Public Utility Regulation, pursuant to delegated authority. [NAME OF SECRETARY] [Secretary] EX-99 3 ENTERGY CORPORATION AND SUBSIDIARIES PRO FORMA CONSOLIDATED BALANCE SHEET MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After ASSETS Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Utility Plant: Electric $22,332,245 $22,332,245 Plant acquisition adjustment - GSU 467,623 467,623 Electric plant under leases 676,275 676,275 Property under capital leases - electric 140,400 140,400 Natural gas 167,919 167,919 Steam products 77,558 77,558 Construction work in progress 539,412 539,412 Nuclear fuel under capital leases 296,514 296,514 Nuclear fuel 67,500 67,500 ------------ ------------ ------------ Total 24,765,446 24,765,446 Less - accumulated depreciation and amortization 8,413,266 8,413,266 ------------ ------------ ------------ Utility plant - net 16,352,180 16,352,180 ------------ ------------ ------------ Other Property and Investments: Decommissioning trust funds 295,618 295,618 Other 454,572 454,572 ------------ ------------ ------------ Total 750,190 750,190 ------------ ------------ ------------ Current Assets: Cash and cash equivalents: Cash 38,979 38,979 Temporary cash investments - at cost, which approximates market 392,248 392,248 Special deposits 177,170 177,170 ------------ ------------ ------------ Total cash and cash equivalents 608,397 608,397 Notes receivable 6,087 6,087 Accounts receivable: Customer (less allowance for doubtful accounts of $8.2 million) 353,939 353,939 Other 67,118 67,118 Accrued unbilled revenues 283,916 283,916 Deferred fuel 70,099 70,099 Fuel inventory - at average cost 98,955 98,955 Materials and supplies - at average cost 355,712 355,712 Rate deferrals 422,760 422,760 Prepayments and other 160,297 160,297 ------------ ------------ ------------ Total 2,427,280 2,427,280 ------------ ------------ ------------ Deferred Debits and Other Assets: Regulatory Assets: Rate deferrals 733,902 733,902 SFAS 109 regulatory asset - net 1,199,525 1,199,525 Unamortized loss on reacquired debt 223,187 223,187 Other regulatory assets 376,162 376,162 Long-term receivables 225,130 225,130 Citipower license (net of $3.3 million of amortization) 616,947 616,947 Other 344,750 344,750 ------------ ------------ ------------ Total 3,719,603 3,719,603 ------------ ------------ ------------ TOTAL $23,249,253 $23,249,253 ============ ============ ============
ENTERGY CORPORATION AND SUBSIDIARIES PRO FORMA CONSOLIDATED BALANCE SHEET MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ----------------------------------------------- Before In Present After CAPITALIZATION AND LIABILITIES Transaction Filing Transaction -------------- -------------- ------------ (In Thousands) Capitalization: Common stock, $.01par value, authorized 500,000,000 shares; issued 230,017,485 shares $2,300 $2,300 Paid-in capital 4,201,117 4,201,117 Retained earnings 2,042,902 2,042,902 Cumulative foreign currency translation adjustment 17,255 17,255 Less - treasury stock (1,983,639 shares) 59,961 59,961 ------------ ------------ ------------ Total common shareholders' equity 6,203,613 6,203,613 Subsidiary's preference stock 150,000 150,000 Subsidiaries' preferred stock: Without sinking fund 550,955 550,955 With sinking fund 233,755 233,755 Long-term debt 7,637,897 7,637,897 ------------ ------------ ------------ Total 14,776,220 14,776,220 ------------ ------------ ------------ Other Noncurrent Liabilities: Obligations under capital leases 285,717 285,717 Other 348,071 348,071 ------------ ------------ ------------ Total 633,788 633,788 ------------ ------------ ------------ Current Liabilities: Currently maturing long-term debt 715,568 715,568 Notes payable 322,667 322,667 Accounts payable 468,047 468,047 Customer deposits 146,481 146,481 Taxes accrued 273,117 273,117 Accumulated deferred income taxes 97,427 97,427 Interest accrued 130,321 130,321 Dividends declared 109,970 109,970 Obligations under capital leases 150,799 150,799 Other 210,889 210,889 ------------ ------------ ------------ Total 2,625,286 2,625,286 ------------ ------------ ------------ Deferred Credits: Accumulated deferred income taxes 3,631,832 3,631,832 Accumulated deferred investment tax credits 605,796 605,796 Other 976,331 976,331 ------------ ------------ ------------ Total 5,213,959 5,213,959 ------------ ------------ ------------ TOTAL $23,249,253 $23,249,253 ============ ============ ============
ENTERGY CORPORATION AND SUBSIDIARIES PRO FORMA CONSOLIDATED STATEMENT OF INCOME TWELVE MONTHS ENDED MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Operating Revenues: Electric $6,223,596 $6,223,596 Natural gas 120,795 120,795 Steam Products 54,241 54,241 Nonregulated and foreign energy-related businesses 150,166 150,166 ------------ ------------ ------------ Total 6,548,798 6,548,798 ------------ ------------ ------------ Operating Expenses: Operation and maintenance: Fuel and fuel-related expenses and gas purchased for resale 1,482,693 1,482,693 Purchased power 432,244 432,244 Nuclear refueling outage expenses 80,167 80,167 Other operation and maintenance 1,521,970 1,521,970 Depreciation, amortization and decommissioning 719,952 719,952 Taxes other than income taxes 312,456 312,456 Income taxes 361,698 361,698 Rate deferrals (19,802) (19,802) Amortization of rate deferrals 417,830 417,830 ------------ ------------ ------------ Total 5,309,208 5,309,208 ------------ ------------ ------------ Operating Income 1,239,590 1,239,590 ------------ ------------ ------------ Other Income (Deductions): Allowance for equity funds used during construction 9,693 9,693 Write-off of River Bend rate deferrals (194,498) (194,498) Miscellaneous - net 24,215 24,215 Income taxes 14,076 14,076 ------------ ------------ ------------ Total (146,514) (146,514) ------------ ------------ ------------ Interest Charges: Interest on long-term debt 646,063 646,063 Other interest - net 36,606 36,606 Allowance for borrowed funds used during construction (8,309) (8,309) Preferred dividend requirements 76,200 76,200 ------------ ------------ ------------ Total 750,560 750,560 ------------ ------------ ------------ Net Income 342,516 342,516 ============ ============ ============
ENTERGY CORPORATION AND SUBSIDIARIES PRO FORMA CONSOLIDATED STATEMENT OF RETAINED EARNINGS TWELVE MONTHS ENDED MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Retained Earnings - April 1, 1995 $2,110,891 $2,110,891 Add Net Income 342,516 342,516 ------------ ------------ ------------ Total 2,453,407 2,453,407 ------------ ------------ ------------ Deduct: Dividends declared on common stock 410,095 410,095 Capital stock and other expenses 410 410 ------------ ------------ ------------ Total 410,505 410,505 ------------ ------------ ------------ Retained Earnings - March 31, 1996 $2,042,902 $2,042,902 ============ ============ ============
ENTERGY CORPORATION PRO FORMA BALANCE SHEET MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After ASSETS Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Investment in wholly-owned Subsidiaries $6,463,534 $6,463,534 ------------ ------------ ------------ Current Assets: Cash and cash equivalents: Cash 23 23 Temporary cash investments - at cost, which approximates market Associated companies 18,821 18,821 Other 36,677 36,677 ------------ ------------ ------------ Total cash and cash equivalents 55,521 55,521 Accounts receivable: Associated companies 7,002 7,002 Other 356 356 Interest receivable 77,147 77,147 Other 9,329 9,329 ------------ ------------ ------------ Total 149,355 149,355 ------------ ------------ ------------ Deferred Debits 81,129 81,129 ------------ ------------ ------------ TOTAL $6,694,018 $6,694,018 ============ ============ ============
ENTERGY CORPORATION PRO FORMA BALANCE SHEET MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After CAPITALIZATION AND LIABILITIES Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Capitalization: Common stock, $.01 par value, authorized 500,000,000 shares; issued 230,017,485 shares $2,300 $2,300 Paid-in capital 4,214,751 4,214,751 Retained earnings 2,042,902 2,042,902 Less - treasury stock (1,983,639 shares) 59,961 59,961 ------------ ------------ ------------ Total common shareholders' equity 6,199,992 6,199,992 ------------ ------------ ------------ Current Liabilities: Notes payable 270,000 270,000 Accounts payable: Associated companies 3,597 3,597 Other 1,578 1,578 Dividends declared 102,615 102,615 Other current liabilities 11,750 11,750 ------------ ------------ ------------ Total 389,540 389,540 ------------ ------------ ------------ Deferred Credits and Noncurrent Liabilities 104,486 104,486 ------------ ------------ ------------ TOTAL $6,694,018 $6,694,018 ============ ============ ============
ENTERGY CORPORATION PRO FORMA STATEMENT OF INCOME TWELVE MONTHS ENDED MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Income: Equity in income of subsidiaries $388,930 $388,930 Interest on temporary investments 13,517 13,517 Miscellaneous income (90) (90) ------------ ------------ ------------ Total 402,357 402,357 ------------ ------------ ------------ Expenses and Other Deductions: Administrative and general expenses 57,023 57,023 Income taxes (credit) (2,907) (2,907) Taxes other than income taxes (credit) 1,188 1,188 Interest (credit) 4,537 4,537 ------------ ------------ ------------ Total 59,841 59,841 ------------ ------------ ------------ Net Income $342,516 $342,516 ============ ============ ============
ENTERGY CORPORATION PRO FORMA STATEMENT OF RETAINED EARNINGS TWELVE MONTHS ENDED MARCH 31, 1996 (Unaudited)
Adjustments to Reflect Transactions Proposed ---------------------------------------------- Before In Present After Transaction Filing Transaction ------------ ------------ ------------ (In Thousands) Retained Earnings - April 1, 1995 $2,110,891 $2,110,891 Add: Net Income 342,516 342,516 ------------ ------------ ------------ Total 2,453,407 2,453,407 ------------ ------------ ------------ Deduct: Dividends declared on common stock 410,095 410,095 Capital stock and other expenses 410 410 ------------ ------------ ------------ Total 410,505 410,505 ------------ ------------ ------------ Retained Earnings - March 31, 1996 $2,042,902 $2,042,902 ============ ============ ============
EX-27 4 WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 016 ENTERGY CORPORATION 1,000 3-MOS 3-MOS DEC-31-1995 DEC-31-1995 MAR-31-1996 MAR-31-1996 PER-BOOK PRO-FORMA 0 0 6,463,534 6,463,534 149,355 149,355 81,129 81,129 0 0 6,694,018 6,694,018 2,300 2,300 4,214,751 4,214,751 2,042,902 2,042,902 6,199,992 6,199,992 0 0 0 0 0 0 270,000 270,000 0 0 0 0 0 0 0 0 0 0 0 0 224,026 224,026 6,694,018 6,694,018 0 0 (2,907) (2,907) 58,211 58,211 55,304 55,304 (55,304) (55,304) 402,357 402,357 347,053 347,053 4,537 4,537 342,516 342,516 0 0 342,516 342,516 410,095 410,095 0 0 0 0 0 0 0 0
EX-27 5 WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
OPUR1 017 ENTERGY CORPORATION & SUBSIDARIES (CONSOLIDATED) 1,000 3-MOS 3-MOS DEC-31-1995 DEC-31-1995 MAR-31-1996 MAR-31-1996 PER-BOOK PRO-FORMA 16,352,180 16,352,180 750,190 750,190 2,427,280 2,427,280 3,719,603 3,719,603 0 0 23,249,253 23,249,253 2,300 2,300 4,201,117 4,201,117 2,042,902 2,042,902 6,203,613 6,203,613 233,755 233,755 550,955 550,955 7,637,897 7,637,897 322,667 322,667 0 0 0 0 715,568 715,568 0 0 285,717 285,717 150,799 150,799 7,941,066 7,941,066 23,249,253 23,249,253 6,548,798 6,548,798 361,698 361,698 4,947,510 4,947,510 5,309,208 5,309,208 1,239,590 1,239,590 (146,514) (146,514) 1,093,076 1,093,076 674,360 674,360 418,716 418,716 76,200 76,200 342,516 342,516 410,095 410,095 0 0 0 0 0 0 0 0
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