XML 113 R27.htm IDEA: XBRL DOCUMENT

Risk Management And Fair Values (Tables)

3 Months Ended

Mar. 31, 2015

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



	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



	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



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



	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



	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



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



	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



	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



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



	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



	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



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



	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



	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



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



	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



	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