|
Risk Management And Fair Values (Tables)
|
3 Months Ended |
|
Mar. 31, 2015
|
| Fair Values Of Derivative Instruments |
The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of March 31, 2015 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | | | | | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Offset (b) | | Net (c) (d) | | Business | | | | | (In Millions) | | | Derivatives designated as hedging instruments | | | | | | | | | | | Assets: | | | | | | | | | | | Electricity swaps and options | | Prepayments and other (current portion) | | $118 | | ($47) | | $71 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other deferred debits and other assets (non-current portion) | | $39 | | ($8) | | $31 | | Entergy Wholesale Commodities | Liabilities: | | | | | | | | | | | Electricity swaps and options | | Other current liabilities
(current portion) | | $13 | | ($13) | | $— | | Entergy Wholesale Commodities | Electricity swaps and options | | Other non-current liabilities (non-current portion) | | $8 | | ($8) | | $— | | Entergy Wholesale Commodities | Derivatives not designated as hedging instruments | | | | | | | | | | | Assets: | | | | | | | | | | | Electricity swaps and options | | Prepayments and other (current portion) | | $67 | | ($10) | | $57 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other deferred debits and other assets (non-current portion) | | $2 | | ($2) | | $— | | Entergy Wholesale Commodities | FTRs | | Prepayments and other | | $15 | | $— | | $15 | | Utility and Entergy Wholesale Commodities | Liabilities: | | | | | | | | | | | Electricity swaps and options | | Other current liabilities(current portion) | | $57 | | ($43) | | $14 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other non-current liabilities (non-current portion) | | $2 | | ($2) | | $— | | Entergy Wholesale Commodities | Natural gas swaps | | Other current liabilities | | $21 | | $— | | $21 | | Utility |
The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2014 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting arrangements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. | | | | | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Offset (b) | | Net (c) (d) | | Business | | | | | (In Millions) | | | Derivatives designated as hedging instruments | | | | | | | | | | | Assets: | | | | | | | | | | | Electricity swaps and options | | Prepayments and other (current portion) | | $149 | | ($53) | | $96 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other deferred debits and other assets (non-current portion) | | $48 | | $— | | $48 | | Entergy Wholesale Commodities | Liabilities: | | | | | | | | | | | Electricity swaps and options | | Other current liabilities (current portion) | | $24 | | ($24) | | $— | | Entergy Wholesale Commodities | Derivatives not designated as hedging instruments | | | | | | | | | | | Assets: | | | | | | | | | | | Electricity swaps and options | | Prepayments and other (current portion) | | $97 | | ($25) | | $72 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other deferred debits and other assets (non-current portion) | | $9 | | ($8) | | $1 | | Entergy Wholesale Commodities | FTRs | | Prepayments and other | | $50 | | ($3) | | $47 | | Utility and Entergy Wholesale Commodities | Liabilities: | | | | | | | | | | | Electricity swaps and options | | Other current liabilities (current portion) | | $57 | | ($55) | | $2 | | Entergy Wholesale Commodities | Electricity swaps and options | | Other non-current liabilities (non-current portion) | | $8 | | ($8) | | $— | | Entergy Wholesale Commodities | Natural gas swaps | | Other current liabilities | | $20 | | $— | | $20 | | Utility |
|
| Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income |
The effect of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument | | Amount of loss recognized in other comprehensive income | | Income Statement location | | Amount of gain (loss) reclassified from AOCI into income (a) |
| | (In Millions) | | | | (In Millions) | 2015 | | | | | | | Electricity swaps and options | | ($32) | | Competitive businesses operating revenues | | $14 | | | | | | | | 2014 | | | | | | | Electricity swaps and options | | ($174) | | Competitive businesses operating revenues | | ($195) |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effect of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended March 31, 2015 and 2014 is as follows: | | | | | | | | Instrument |
| Amount of gain recognized in AOCI |
| Income Statement location |
| Amount of gain (loss) recorded in the income statement | | | (In Millions) | | | | (In Millions) | 2015 | |
| | | | | Natural gas swaps | | — | | Fuel, fuel-related expenses, and gas purchased for resale | (a) | ($19) | FTRs |
| — |
| Purchased power expense | (b) | $33 | Electricity swaps and options de-designated as hedged items | | $4 | | Competitive business operating revenues | | ($34) | | | | | | | | 2014 | | | | | | | Natural gas swaps | | — | | Fuel, fuel-related expenses, and gas purchased for resale | (a) | $17 | FTRs | | — | | Purchased power expense | (b) | $46 | Electricity swaps and options de-designated as hedged items | | $22 | | Competitive business operating revenues | | $21 |
|
| Assets and liabilities at fair value on a recurring basis |
The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of March 31, 2015 and December 31, 2014. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $1,113 |
| |
| $— |
| |
| $— |
| |
| $1,113 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 485 |
| | 2,842 |
| (b) | — |
| | 3,327 |
| Debt securities | | 877 |
| | 1,249 |
| | — |
| | 2,126 |
| Power contracts | | — |
| | — |
| | 159 |
| | 159 |
| Securitization recovery trust account | | 45 |
| | — |
| | — |
| | 45 |
| Escrow accounts | | 364 |
| | — |
| | — |
| | 364 |
| FTRs | | — |
| | — |
| | 15 |
| | 15 |
| | |
| $2,884 |
| |
| $4,091 |
| |
| $174 |
| |
| $7,149 |
| Liabilities: | | | | | | | | | Power contracts | |
| $— |
| |
| $— |
| |
| $14 |
| |
| $14 |
| Gas hedge contracts | | 21 |
| | — |
|
| — |
| | 21 |
| | |
| $21 |
| |
| $— |
|
|
| $14 |
| |
| $35 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $1,291 |
| |
| $— |
| |
| $— |
| |
| $1,291 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 452 |
| | 2,834 |
| (b) | — |
| | 3,286 |
| Debt securities | | 880 |
| | 1,205 |
| | — |
| | 2,085 |
| Power contracts | | — |
| | — |
| | 217 |
| | 217 |
| Securitization recovery trust account | | 44 |
| | — |
| | — |
| | 44 |
| Escrow accounts | | 362 |
| | — |
| | — |
| | 362 |
| FTRs | | — |
| | — |
| | 47 |
| | 47 |
| | |
| $3,029 |
| |
| $4,039 |
| |
| $264 |
| |
| $7,332 |
| Liabilities: | | | | | | | | | Power contracts | |
| $— |
| |
| $— |
| |
| $2 |
| |
| $2 |
| Gas hedge contracts | | 20 |
| | — |
| | — |
| | 20 |
| | |
| $20 |
| |
| $— |
| |
| $2 |
| |
| $22 |
|
| | (a) | The decommissioning trust funds hold equity and fixed income securities. Equity securities are held to approximate the returns of major market indices. Fixed income investments are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios. |
| | (b) | Commingled equity funds may be redeemed bi-monthly. |
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015 and 2014: | | | | | | | | | | | | | | | | | | 2015 | | 2014 | | Power Contracts | | FTRs | | Power Contracts | | FTRs |
| (In Millions) | Balance as of January 1, |
| $215 |
| |
| $47 |
| |
| ($133 | ) | |
| $34 |
| Realized gains (losses) included in earnings | 52 |
| | — |
| | 5 |
| | — |
| Unrealized gains (losses) included in earnings | (87 | ) | | — |
| | 16 |
| | — |
| Unrealized gains (losses) included in OCI | (26 | ) | | — |
| | (162 | ) | | — |
| Unrealized gains (losses) included as a regulatory liability/asset | — |
| | 1 |
| | — |
| | 37 |
| Purchases | 10 |
| | — |
| | 5 |
| | — |
| Settlements | (19 | ) | | (33 | ) | | 183 |
| | (46 | ) | Balance as of March 31, |
| $145 |
| |
| $15 |
| |
| ($86 | ) | |
| $25 |
|
|
| Fair Value Inputs Liabilities Quantitative Information |
The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification as of March 31, 2015: | | | | | | | | | | | Transaction Type | | Fair Value as of March 31, 2015 | | Significant Unobservable Inputs | | Range from Average % | | Effect on Fair Value | | | (In Millions) | | | | | | | (In Millions) | Electricity swaps | | $109 | | Unit contingent discount | | +/- | 3% | | $7 | Electricity options | | $36 | | Implied volatility | | +/- | 65% | | $32 |
|
| Entergy Arkansas [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy Arkansas | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $112.3 |
| |
| $— |
| |
| $— |
| |
| $112.3 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 12.4 |
| | 474.1 |
| (b) | — |
| | 486.5 |
| Debt securities | | 93.8 |
| | 202.8 |
| | — |
| | 296.6 |
| Securitization recovery trust account | | 8.1 |
| | — |
| | — |
| | 8.1 |
| Escrow accounts | | 12.2 |
| | — |
| | — |
| | 12.2 |
| FTRs | | — |
| | — |
| | 0.6 |
| | 0.6 |
| | |
| $238.8 |
| |
| $676.9 |
| |
| $0.6 |
| |
| $916.3 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $208.0 |
| |
| $— |
| |
| $— |
| |
| $208.0 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 7.2 |
| | 480.1 |
| (b) | — |
| | 487.3 |
| Debt securities | | 72.2 |
| | 210.4 |
| | — |
| | 282.6 |
| Securitization recovery trust account | | 4.1 |
| | — |
| | — |
| | 4.1 |
| Escrow accounts | | 12.2 |
| | — |
| | — |
| | 12.2 |
| FTRs | | — |
| | — |
| | 0.7 |
| | 0.7 |
| | |
| $303.7 |
| |
| $690.5 |
| |
| $0.7 |
| |
| $994.9 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| Entergy Gulf States Louisiana [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy Gulf States Louisiana | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $114.8 |
| |
| $— |
| |
| $— |
| |
| $114.8 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 15.9 |
| | 391.4 |
| (b) | — |
| | 407.3 |
| Debt securities | | 81.0 |
| | 160.4 |
| | — |
| | 241.4 |
| Escrow accounts | | 90.1 |
| | — |
| | — |
| | 90.1 |
| FTRs | | — |
| | — |
| | 5.0 |
| | 5.0 |
| | |
| $301.8 |
| |
| $551.8 |
| |
| $5.0 |
| |
| $858.6 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $7.8 |
| |
| $— |
| |
| $— |
| |
| $7.8 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $109.6 |
| |
| $— |
| |
| $— |
| |
| $109.6 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 10.5 |
| | 385.4 |
| (b) | — |
| | 395.9 |
| Debt securities | | 81.9 |
| | 159.9 |
| | — |
| | 241.8 |
| Escrow accounts | | 90.1 |
| | — |
| | — |
| | 90.1 |
| FTRs | | — |
| | — |
| | 14.4 |
| | 14.4 |
| | |
| $292.1 |
| |
| $545.3 |
| |
| $14.4 |
| |
| $851.8 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $8.2 |
| |
| $— |
| |
| $— |
| |
| $8.2 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| Entergy Louisiana [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy Louisiana | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $167.5 |
| |
| $— |
| |
| $— |
| |
| $167.5 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 6.5 |
| | 238.8 |
| (b) | — |
| | 245.3 |
| Debt securities | | 69.5 |
| | 77.0 |
| | — |
| | 146.5 |
| Escrow accounts | | 200.1 |
| | — |
| | — |
| | 200.1 |
| Securitization recovery trust account | | 8.5 |
| | — |
| | — |
| | 8.5 |
| FTRs | | — |
| | — |
| | 3.8 |
| | 3.8 |
| | |
| $452.1 |
| |
| $315.8 |
| |
| $3.8 |
| |
| $771.7 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $9.7 |
| |
| $— |
| |
| $— |
| |
| $9.7 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $157.1 |
| |
| $— |
| |
| $— |
| |
| $157.1 |
| Decommissioning trust funds (a): | | |
| | |
| | |
| | |
| Equity securities | | 4.8 |
| | 234.8 |
| (b) | — |
| | 239.6 |
| Debt securities | | 68.7 |
| | 75.3 |
| | — |
| | 144.0 |
| Escrow accounts | | 200.1 |
| | — |
| | — |
| | 200.1 |
| Securitization recovery trust account | | 3.1 |
| | — |
| | — |
| | 3.1 |
| FTRs | | — |
| | — |
| | 11.1 |
| | 11.1 |
| | |
| $433.8 |
| |
| $310.1 |
| |
| $11.1 |
| |
| $755.0 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $7.6 |
| |
| $— |
| |
| $— |
| |
| $7.6 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| Entergy Mississippi [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy Mississippi | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $77.6 |
| |
| $— |
| |
| $— |
| |
| $77.6 |
| Escrow accounts | | 41.8 |
| | — |
| | — |
| | 41.8 |
| FTRs | | — |
| | — |
| | 0.9 |
| | 0.9 |
| | |
| $119.4 |
| |
| $— |
| |
| $0.9 |
| |
| $120.3 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $3.4 |
| |
| $— |
| |
| $— |
| |
| $3.4 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $60.4 |
| |
| $— |
| |
| $— |
| |
| $60.4 |
| Escrow accounts | | 41.8 |
| | — |
| | — |
| | 41.8 |
| FTRs | | — |
| | — |
| | 3.4 |
| | 3.4 |
| | |
| $102.2 |
| |
| $— |
| |
| $3.4 |
| |
| $105.6 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $2.8 |
| |
| $— |
| |
| $— |
| |
| $2.8 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| Entergy New Orleans [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy New Orleans | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $21.0 |
| |
| $— |
| |
| $— |
| |
| $21.0 |
| Escrow accounts | | 19.8 |
| | — |
| | — |
| | 19.8 |
| FTRs | | — |
| | — |
| | 1.4 |
| | 1.4 |
| | |
| $40.8 |
| |
| $— |
| |
| $1.4 |
| |
| $42.2 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $41.4 |
| |
| $— |
| |
| $— |
| |
| $41.4 |
| Escrow accounts | | 18.0 |
| | — |
| | — |
| | 18.0 |
| FTRs | | — |
| | — |
| | 4.1 |
| | 4.1 |
| | |
| $59.4 |
| |
| $— |
| |
| $4.1 |
| |
| $63.5 |
| | | | | | | | | | Liabilities: | | | | | | | | | Gas hedge contracts | |
| $0.9 |
| |
| $— |
| |
| $— |
| |
| $0.9 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| Entergy Texas [Member] |
|
| Fair Values Of Derivative Instruments |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2015 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.6 | | Entergy Arkansas | FTRs | | Prepayments and other | | $5.0 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $3.8 | | Entergy Louisiana | FTRs | | Prepayments and other | | $0.9 | | Entergy Mississippi | FTRs | | Prepayments and other | | $1.4 | | Entergy New Orleans | FTRs | | Prepayments and other | | $3.4 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $7.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $9.7 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $3.4 | | Entergy Mississippi |
The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2014 are as follows: | | | | | | | | Instrument | | Balance Sheet Location | | Fair Value (a) | | Registrant | | | | | (In Millions) | | | Assets: | | | | | | | FTRs | | Prepayments and other | | $0.7 | | Entergy Arkansas | FTRs | | Prepayments and other | | $14.4 | | Entergy Gulf States Louisiana | FTRs | | Prepayments and other | | $11.1 | | Entergy Louisiana | FTRs | | Prepayments and other | | $3.4 | | Entergy Mississippi | FTRs | | Prepayments and other | | $4.1 | | Entergy New Orleans | FTRs | | Prepayments and other | | $12.3 | | Entergy Texas | | | | | | | | Liabilities: | | | | | | | Natural gas swaps | | Other current liabilities | | $8.2 | | Entergy Gulf States Louisiana | Natural gas swaps | | Other current liabilities | | $7.6 | | Entergy Louisiana | Natural gas swaps | | Other current liabilities | | $2.8 | | Entergy Mississippi | Natural gas swaps | | Other current liabilities | | $0.9 | | Entergy New Orleans |
| | (a) | No cash collateral was required to be posted as of March 31, 2015 and December 31, 2014, respectively. |
|
| Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income |
The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2015 and 2014 are as follows: | | | | | | | | Instrument |
| Income Statement Location |
| Amount of gain (loss) recorded in the income statement |
| Registrant | | | | | (In Millions) | | | 2015 | | | |
| | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($7.9) | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($8.1) | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($3.0) | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | ($0.5) | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $15.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $7.4 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $7.1 | | Entergy Louisiana | FTRs | | Purchased power expense | | $3.3 | | Entergy Mississippi | FTRs | | Purchased power expense | | $1.6 | | Entergy New Orleans | FTRs | | Purchased power expense | | ($1.4) | | Entergy Texas | | | | | | | | 2014 | | | | | | | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $6.8 | | Entergy Gulf States Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $8.0 | | Entergy Louisiana | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $1.6 | | Entergy Mississippi | Natural gas swaps | | Fuel, fuel-related expenses, and gas purchased for resale | | $0.7 | | Entergy New Orleans | | | | | | | | FTRs | | Purchased power expense | | $5.1 | | Entergy Arkansas | FTRs | | Purchased power expense | | $9.1 | | Entergy Gulf States Louisiana | FTRs | | Purchased power expense | | $8.0 | | Entergy Louisiana | FTRs | | Purchased power expense | | $7.8 | | Entergy Mississippi | FTRs | | Purchased power expense | | $2.9 | | Entergy New Orleans | FTRs | | Purchased power expense | | $12.8 | | Entergy Texas |
|
| Assets and liabilities at fair value on a recurring basis |
Entergy Texas | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $13.6 |
| |
| $— |
| |
| $— |
| |
| $13.6 |
| Securitization recovery trust account | | 28.1 |
| | — |
| | — |
| | 28.1 |
| FTRs | | — |
| | — |
| | 3.4 |
| | 3.4 |
| | |
| $41.7 |
| |
| $— |
| |
| $3.4 |
| |
| $45.1 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $28.7 |
| |
| $— |
| |
| $— |
| |
| $28.7 |
| Securitization recovery trust account | | 37.2 |
| | — |
| | — |
| | 37.2 |
| FTRs | | — |
| | — |
| | 12.3 |
| | 12.3 |
| | |
| $65.9 |
| |
| $— |
| |
| $12.3 |
| |
| $78.2 |
|
|
| Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy |
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2015. | | | | | | | | | | | | | | | | | | | | | | | | |
| Entergy Arkansas |
| Entergy Gulf States Louisiana |
| Entergy Louisiana |
| Entergy Mississippi |
| Entergy New Orleans |
| Entergy Texas | | (In Millions) | Balance as of January 1, |
| $0.7 |
|
|
| $14.4 |
|
|
| $11.1 |
|
|
| $3.4 |
|
|
| $4.1 |
|
|
| $12.3 |
| Unrealized gains (losses) included as a regulatory liability/asset | 15.0 |
|
| (2.0 | ) |
| (0.2 | ) |
| 0.8 |
|
| (1.1 | ) |
| (10.3 | ) | Settlements | (15.1 | ) |
| (7.4 | ) |
| (7.1 | ) |
| (3.3 | ) |
| (1.6 | ) |
| 1.4 |
| Balance as of March 31, |
| $0.6 |
|
|
| $5.0 |
|
|
| $3.8 |
|
|
| $0.9 |
|
|
| $1.4 |
|
|
| $3.4 |
|
The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Entergy
Arkansas | | Entergy
Gulf States
Louisiana | | Entergy
Louisiana | | Entergy
Mississippi | | Entergy
New
Orleans | | Entergy
Texas | | (In Millions) | Balance as of January 1, |
| $— |
| |
| $6.7 |
| |
| $5.7 |
| |
| $1.0 |
| |
| $2.0 |
| |
| $18.4 |
| Unrealized gains included as a regulatory liability/asset | 7.8 |
| | 7.7 |
| | 5.3 |
| | 11.6 |
| | 2.0 |
| | 1.8 |
| Settlements | (5.1 | ) | | (9.0 | ) | | (8.0 | ) | | (7.8 | ) | | (3.0 | ) | | (12.8 | ) | Balance as of March 31, |
| $2.7 |
| |
| $5.4 |
| |
| $3.0 |
| |
| $4.8 |
| |
| $1.0 |
| |
| $7.4 |
|
|
| System Energy [Member] |
|
| Assets and liabilities at fair value on a recurring basis |
System Energy | | | | | | | | | | | | | | | | | | 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $171.5 |
| |
| $— |
| |
| $— |
| |
| $171.5 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 2.1 |
| | 429.8 |
| (b) | — |
| | 431.9 |
| Debt securities | | 200.7 |
| | 63.6 |
| | — |
| | 264.3 |
| | |
| $374.3 |
| |
| $493.4 |
| |
| $— |
| |
| $867.7 |
|
| | | | | | | | | | | | | | | | | | 2014 | | Level 1 | | Level 2 | | Level 3 | | Total | | | (In Millions) | Assets: | | | | | | | | | Temporary cash investments | |
| $222.4 |
| |
| $— |
| |
| $— |
| |
| $222.4 |
| Decommissioning trust funds (a): | | | | | | | | | Equity securities | | 2.0 |
| | 422.5 |
| (b) | — |
| | 424.5 |
| Debt securities | | 194.2 |
| | 61.1 |
| | — |
| | 255.3 |
| | |
| $418.6 |
| |
| $483.6 |
| |
| $— |
| |
| $902.2 |
|
|