NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana)

Common Stock

Earnings per Share

The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statement:


	For the Three Months Ended March 31,
	2012			2011
	(In Millions, Except Per Share Data)

Basic earnings per share	Income	Shares	$/share	Income	Shares	$/share

Net income attributable to Entergy Corporation	($151.7)	176.9	($0.86)	$248.7	178.8	$1.39
Average dilutive effect of:
Stock options	-	0.5	-	-	1.1	(0.01)
Restricted stock	-	-	-	-	0.2	-

Diluted earnings per share	($151.7)	177.4	($0.86)	$248.7	180.1	$1.38

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

Treasury Stock

During the three months ended March 31, 2012, Entergy Corporation issued 795,908 shares of its previously repurchased common stock to satisfy stock option exercises and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the three months ended March 31, 2012.

Retained Earnings

On April 4, 2012 Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on June 1, 2012 to holders of record as of May 10, 2012.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. Accumulated other comprehensive income (loss) in the balance sheets included the following components:


	Entergy		Entergy Gulf States Louisiana		Entergy Louisiana
	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011
	(In Thousands)

Cash flow hedges net unrealized gain	$322,932	$177,497	$-	$-	$-	$-
Pension and other postretirement liabilities	(493,289)	(499,556)	(68,582)	(69,610)	(38,854)	(39,507)
Net unrealized investment gains	201,045	150,939	-	-	-	-
Foreign currency translation	2,979	2,668	-	-	-	-
Total	$33,667	($168,452)	($68,582)	($69,610)	($38,854)	($39,507)

Other comprehensive income and total comprehensive income for the three months ended March 31, 2012 and 2011 are presented in Entergy's, Entergy Gulf States Louisiana's, and Entergy Louisiana's Statements of Comprehensive Income.

Equity

NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana)

Common Stock

Earnings per Share

The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statement:

	For the Three Months Ended March 31,
	2012			2011
	(In Millions, Except Per Share Data)

Basic earnings per share	Income	Shares	$/share	Income	Shares	$/share

Net income attributable to Entergy Corporation	($151.7)	176.9	($0.86)	$248.7	178.8	$1.39
Average dilutive effect of:
Stock options	-	0.5	-	-	1.1	(0.01)
Restricted stock	-	-	-	-	0.2	-

Diluted earnings per share	($151.7)	177.4	($0.86)	$248.7	180.1	$1.38

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

Treasury Stock

During the three months ended March 31, 2012, Entergy Corporation issued 795,908 shares of its previously repurchased common stock to satisfy stock option exercises and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the three months ended March 31, 2012.

Retained Earnings

On April 4, 2012 Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on June 1, 2012 to holders of record as of May 10, 2012.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. Accumulated other comprehensive income (loss) in the balance sheets included the following components:

	Entergy		Entergy Gulf States Louisiana		Entergy Louisiana
	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011
	(In Thousands)

Cash flow hedges net unrealized gain	$322,932	$177,497	$-	$-	$-	$-
Pension and other postretirement liabilities	(493,289)	(499,556)	(68,582)	(69,610)	(38,854)	(39,507)
Net unrealized investment gains	201,045	150,939	-	-	-	-
Foreign currency translation	2,979	2,668	-	-	-	-
Total	$33,667	($168,452)	($68,582)	($69,610)	($38,854)	($39,507)

Other comprehensive income and total comprehensive income for the three months ended March 31, 2012 and 2011 are presented in Entergy's, Entergy Gulf States Louisiana's, and Entergy Louisiana's Statements of Comprehensive Income.

Equity

NOTE 3. EQUITY (Entergy Corporation, Entergy Gulf States Louisiana, and Entergy Louisiana)

Common Stock

Earnings per Share

The following tables present Entergy's basic and diluted earnings per share calculations included on the consolidated income statement:

	For the Three Months Ended March 31,
	2012			2011
	(In Millions, Except Per Share Data)

Basic earnings per share	Income	Shares	$/share	Income	Shares	$/share

Net income attributable to Entergy Corporation	($151.7)	176.9	($0.86)	$248.7	178.8	$1.39
Average dilutive effect of:
Stock options	-	0.5	-	-	1.1	(0.01)
Restricted stock	-	-	-	-	0.2	-

Diluted earnings per share	($151.7)	177.4	($0.86)	$248.7	180.1	$1.38

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

Treasury Stock

During the three months ended March 31, 2012, Entergy Corporation issued 795,908 shares of its previously repurchased common stock to satisfy stock option exercises and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the three months ended March 31, 2012.

Retained Earnings

On April 4, 2012 Entergy Corporation's Board of Directors declared a common stock dividend of $0.83 per share, payable on June 1, 2012 to holders of record as of May 10, 2012.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy, Entergy Gulf States Louisiana, and Entergy Louisiana. Accumulated other comprehensive income (loss) in the balance sheets included the following components:

	Entergy		Entergy Gulf States Louisiana		Entergy Louisiana
	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011	March 31, 2012	December 31, 2011
	(In Thousands)

Cash flow hedges net unrealized gain	$322,932	$177,497	$-	$-	$-	$-
Pension and other postretirement liabilities	(493,289)	(499,556)	(68,582)	(69,610)	(38,854)	(39,507)
Net unrealized investment gains	201,045	150,939	-	-	-	-
Foreign currency translation	2,979	2,668	-	-	-	-
Total	$33,667	($168,452)	($68,582)	($69,610)	($38,854)	($39,507)

Other comprehensive income and total comprehensive income for the three months ended March 31, 2012 and 2011 are presented in Entergy's, Entergy Gulf States Louisiana's, and Entergy Louisiana's Statements of Comprehensive Income.