XML 105 R46.htm IDEA: XBRL DOCUMENT v3.3.1.900
Risk Management And Fair Values (Tables)
 12 Months Ended
Dec. 31, 2015
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 December 31, 2015:
Transaction Type
 
Fair Value
as of
December 31,
2015
 
Significant
Unobservable Inputs
 
Range
from
Average
%
 
Effect on
Fair Value
 
 
(In Millions)
 
 
 
 
 
(In Millions)
Power contracts - electricity swaps
 
$157
 
Unit contingent discount
 
+/-3%
 
$8
Power contracts - electricity options
 
$32
 
Implied volatility
 
+/-83%
 
$12
Fair Values Of Derivative Instruments
The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements 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)
 
$173
 
($34)
 
$139
 
Entergy Wholesale Commodities
Electricity swaps and options

Other deferred debits and other assets (non-current portion)
 
$17
 
($2)
 
$15
 
Entergy Wholesale Commodities
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
Electricity swaps and options
 
Other current liabilities (current portion)
 
$14
 
($14)
 
$—
 
Entergy Wholesale Commodities
Electricity swaps and options
 
Other non-current liabilities (non-current portion)
 
$2
 
($2)
 
$—
 
Entergy Wholesale Commodities
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
Electricity swaps and options
 
Prepayments and other (current portion)
 
$54
 
($13)
 
$41
 
Entergy Wholesale Commodities
FTRs
 
Prepayments and other
 
$24
 
($1)
 
$23
 
Utility and Entergy Wholesale Commodities
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
Electricity swaps and options
 
Other current liabilities (current portion)
 
$38
 
($32)
 
$6
 
Entergy Wholesale Commodities
Natural gas swaps
 
Other current liabilities
 
$9
 
$—
 
$9
 
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 agreements 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

(a)
Represents the gross amounts of recognized assets/liabilities
(b)
Represents the netting of fair value balances with the same counterparty
(c)
Represents the net amounts of assets/liabilities presented on the Entergy Consolidated Balance Sheets
(d)
Excludes cash collateral in the amount of $9 million posted and $68 million held as of December 31, 2015 and $25 million held as of December 31, 2014, respectively
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 statements of operations for the years ended December 31, 2015, 2014, and 2013 are as follows:
 
 
Instrument
 
Amount of gain (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
 
$254
 
Competitive business operating revenues
 
($244)
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Electricity swaps and options
 
$81
 
Competitive business operating revenues
 
($193)
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Electricity swaps and options
 
($190)
 
Competitive business operating revenues
 
$47


(a)
Before taxes of ($85) million, ($68) million, and $18 million, for the years ended December 31, 2015, 2014, and 2013, respectively
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 statements of operations for the years ended December 31, 2015, 2014, and 2013 is as follows:
 
Instrument
 
Amount of gain (loss)
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)
($41)
FTRs
 
$—
 
Purchased power expense
(b)
$166
Electricity swaps and options
 
$12
 
Competitive business operating revenues
 
($19)
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
$—
 
Fuel, fuel-related expenses, and gas purchased for resale
(a)
($8)
FTRs
 
$—
 
Purchased power expense
(b)
$229
Electricity swaps and options
 
($13)
 
Competitive business operating revenues
 
$56
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
$—
 
Fuel, fuel-related expenses, and gas purchased for resale
(a)
$13
FTRs
 
$—
 
Purchased power expense
(b)
$3
Electricity swaps and options
 
$1
 
Competitive business operating revenues
 
($50)


(a)
Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability.  The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.
(b)
Due to regulatory treatment, the changes in the estimated fair value of FTRs for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability.  The gains or losses recorded as purchased power expense when the FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.
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 December 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
 

$1,287

 

$—

 

$—

 

$1,287

Decommissioning trust funds (a):
 
 
 
 
 
 
 
 
Equity securities
 
468

 
2,727

 
—

 
3,195

Debt securities
 
1,061

 
1,094

 
—

 
2,155

Power contracts
 
—

 
—

 
195

 
195

Securitization recovery trust account
 
50

 
—

 
—

 
50

Escrow accounts
 
425

 
—

 
—

 
425

FTRs
 
—

 
—

 
23

 
23

 
 

$3,291

 

$3,821

 

$218

 

$7,330

Liabilities:
 
 
 
 
 
 
 
 
Power contracts
 

$—

 

$—

 

$6

 

$6

Gas hedge contracts
 
9

 
—

 
—

 
9

 
 

$9

 

$—

 

$6

 

$15


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

 
—

 
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 invested to approximate the returns of major market indices.  Fixed income securities are held in various governmental and corporate securities.  See Note 17 to the financial statements for additional information on the investment portfolios.
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 years ended December 31, 2015, 2014, and 2013:
 
2015
 
2014
 
2013
 
Power Contracts
FTRs
 
Power Contracts
FTRs
 
Power Contracts
FTRs
 
(In Millions)
Balance as of January 1,

$215


$47

 

($133
)

$34

 

$178


$—

Total gains (losses) for the period (a)
 
 
 
 
 
 
 
 
Included in earnings
(20
)
(1
)
 
55

2

 
(73
)
—

Included in OCI
254

—

 
131

—

 
(204
)
—

Included as a regulatory liability/asset
—

63

 
—

119

 
—

—

Issuances of FTRs
—

80

 
—

121

 
—

37

Purchases
15

—

 
17

—

 
14

—

Settlements
(275
)
(166
)
 
145

(229
)
 
(48
)
(3
)
Balance as of December 31,

$189


$23

 

$215


$47

 

($133
)

$34



(a)
Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is $3 million, $120 million, and ($35) million for the years ended December 31, 2015, 2014, and 2013, respectively.
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 December 31, 2015 and 2014 are as follows:
Instrument
 
Balance Sheet Location
 
Fair Value (a)
 
Registrant
 
 
 
 
(In Millions)
 
 
2015
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$7.9
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$8.5
 
Entergy Louisiana
FTRs
 
Prepayments and other
 
$2.4
 
Entergy Mississippi
FTRs
 
Prepayments and other
 
$1.5
 
Entergy New Orleans
FTRs
 
Prepayments and other
 
$2.2
 
Entergy Texas
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Natural gas swaps
 
Other current liabilities
 
$7.0
 
Entergy Louisiana
Natural gas swaps
 
Other current liabilities
 
$1.3
 
Entergy Mississippi
Natural gas swaps
 
Other current liabilities
 
$0.5
 
Entergy New Orleans
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$0.7
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$25.5
 
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
 
$15.8
 
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 December 31, 2015 and 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 years ended December 31, 2015, 2014, and 2013 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
 
($33.2)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($6.1)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($1.4)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$68.7
 
Entergy Arkansas
FTRs
 
Purchased power
 
$55.4
 
Entergy Louisiana
FTRs
 
Purchased power
 
$16.5
 
Entergy Mississippi
FTRs
 
Purchased power
 
$8.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$16.8
 
Entergy Texas
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($5.5)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($2.5)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($0.2)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$21.6
 
Entergy Arkansas
FTRs
 
Purchased power
 
$103.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$19.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$16.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$65.8
 
Entergy Texas
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$10.5
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$2.5
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$0.1
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
($0.1)
 
Entergy Arkansas
FTRs
 
Purchased power
 
$0.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$1.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$1.2
 
Entergy New Orleans
FTRs
 
Purchased power
 
$0.8
 
Entergy Texas
Assets and liabilities at fair value on a recurring basis
The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets that are accounted for at fair value on a recurring basis as of December 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 its placement within the fair value hierarchy levels.

Entergy Arkansas
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Decommissioning trust funds (a):
 
 
 
 
 
 
 
 
Equity securities
 

$3.0

 

$464.4

 

$—

 

$467.4

Debt securities
 
110.5

 
193.4

 
—

 
303.9

Securitization recovery trust account
 
4.2

 
—

 
—

 
4.2

Escrow accounts
 
12.2

 
—

 
—

 
12.2

FTRs
 
—

 
—

 
7.9

 
7.9

 
 

$129.9

 

$657.8

 

$7.9

 

$795.6


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

 
—

 
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 year ended December 31, 2015.

Entergy
Arkansas
 
Entergy
Louisiana

Entergy
Mississippi

Entergy
New
Orleans

Entergy
Texas
 
(In Millions)

 
 











Balance as of January 1,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3

Issuances of FTRs
7.0

 
48.3

 
5.4

 
7.3

 
11.4

Gains (losses) included as a regulatory liability/asset
68.9

 
(9.9
)
 
10.1

 
(1.4
)
 
(4.7
)
Settlements
(68.7
)
 
(55.4
)
 
(16.5
)
 
(8.5
)
 
(16.8
)
Balance as of December 31,

$7.9

 

$8.5

 

$2.4

 

$1.5

 

$2.2



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 year ended December 31, 2014.
 
Entergy
Arkansas
 
Entergy
Louisiana
 
Entergy
Mississippi
 
Entergy
New
Orleans
 
Entergy
Texas
 
(In Millions)
 
 
 
 
 
 
 
 
 
 
Balance as of January 1,

$—

 

$12.4

 

$1.0

 

$2.0

 

$18.4

Issuances of FTRs
4.2

 
58.8

 
15.2

 
8.3

 
33.2

Gains (losses) included as a regulatory liability/asset
18.1

 
57.8

 
6.2

 
10.3

 
26.5

Settlements
(21.6
)
 
(103.5
)
 
(19.0
)
 
(16.5
)
 
(65.8
)
Balance as of December 31,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3
Entergy Louisiana [Member]  
Fair Values Of Derivative Instruments
he fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 and 2014 are as follows:
Instrument
 
Balance Sheet Location
 
Fair Value (a)
 
Registrant
 
 
 
 
(In Millions)
 
 
2015
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$7.9
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$8.5
 
Entergy Louisiana
FTRs
 
Prepayments and other
 
$2.4
 
Entergy Mississippi
FTRs
 
Prepayments and other
 
$1.5
 
Entergy New Orleans
FTRs
 
Prepayments and other
 
$2.2
 
Entergy Texas
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Natural gas swaps
 
Other current liabilities
 
$7.0
 
Entergy Louisiana
Natural gas swaps
 
Other current liabilities
 
$1.3
 
Entergy Mississippi
Natural gas swaps
 
Other current liabilities
 
$0.5
 
Entergy New Orleans
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$0.7
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$25.5
 
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
 
$15.8
 
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 December 31, 2015 and 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 years ended December 31, 2015, 2014, and 2013 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
 
($33.2)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($6.1)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($1.4)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$68.7
 
Entergy Arkansas
FTRs
 
Purchased power
 
$55.4
 
Entergy Louisiana
FTRs
 
Purchased power
 
$16.5
 
Entergy Mississippi
FTRs
 
Purchased power
 
$8.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$16.8
 
Entergy Texas
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($5.5)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($2.5)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($0.2)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$21.6
 
Entergy Arkansas
FTRs
 
Purchased power
 
$103.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$19.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$16.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$65.8
 
Entergy Texas
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$10.5
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$2.5
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$0.1
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
($0.1)
 
Entergy Arkansas
FTRs
 
Purchased power
 
$0.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$1.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$1.2
 
Entergy New Orleans
FTRs
 
Purchased power
 
$0.8
 
Entergy Texas
Assets and liabilities at fair value on a recurring basis
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Temporary cash investments
 

$34.8

 

$—

 

$—

 

$34.8

Decommissioning trust funds (a):
 
 
 
 
 
 
 
 
Equity securities
 
7.1

 
625.3

 
—

 
632.4

Debt securities
 
161.1

 
248.8

 
—

 
409.9

Securitization recovery trust account
 
3.2

 
—

 
—

 
3.2

Escrow accounts
 
290.4

 
—

 
—

 
290.4

FTRs
 
—

 
—

 
8.5

 
8.5

 
 

$496.6

 

$874.1

 

$8.5

 

$1,379.2

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Gas hedge contracts
 

$7.0

 

$—

 

$—

 

$7.0


2014
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Temporary cash investments
 

$266.7

 

$—

 

$—

 

$266.7

Decommissioning trust funds (a):
 
 
 
 
 
 
 
 
Equity securities
 
15.3

 
620.2

 
—

 
635.5

Debt securities
 
150.6

 
235.2

 
—

 
385.8

Securitization recovery trust account
 
3.1

 
—

 
—

 
3.1

Escrow accounts
 
290.1

 
—

 
—

 
290.1

FTRs
 
—

 
—

 
25.5

 
25.5

 
 

$725.8

 

$855.4

 

$25.5

 

$1,606.7

Liabilities:
 
 
 
 
 
 
 
 
Gas hedge contracts
 

$15.8

 

$—

 

$—

 

$15.8
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 year ended December 31, 2015.

Entergy
Arkansas
 
Entergy
Louisiana

Entergy
Mississippi

Entergy
New
Orleans

Entergy
Texas
 
(In Millions)

 
 











Balance as of January 1,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3

Issuances of FTRs
7.0

 
48.3

 
5.4

 
7.3

 
11.4

Gains (losses) included as a regulatory liability/asset
68.9

 
(9.9
)
 
10.1

 
(1.4
)
 
(4.7
)
Settlements
(68.7
)
 
(55.4
)
 
(16.5
)
 
(8.5
)
 
(16.8
)
Balance as of December 31,

$7.9

 

$8.5

 

$2.4

 

$1.5

 

$2.2



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 year ended December 31, 2014.
 
Entergy
Arkansas
 
Entergy
Louisiana
 
Entergy
Mississippi
 
Entergy
New
Orleans
 
Entergy
Texas
 
(In Millions)
 
 
 
 
 
 
 
 
 
 
Balance as of January 1,

$—

 

$12.4

 

$1.0

 

$2.0

 

$18.4

Issuances of FTRs
4.2

 
58.8

 
15.2

 
8.3

 
33.2

Gains (losses) included as a regulatory liability/asset
18.1

 
57.8

 
6.2

 
10.3

 
26.5

Settlements
(21.6
)
 
(103.5
)
 
(19.0
)
 
(16.5
)
 
(65.8
)
Balance as of December 31,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3
Entergy Mississippi [Member]  
Fair Values Of Derivative Instruments
he fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 and 2014 are as follows:
Instrument
 
Balance Sheet Location
 
Fair Value (a)
 
Registrant
 
 
 
 
(In Millions)
 
 
2015
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$7.9
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$8.5
 
Entergy Louisiana
FTRs
 
Prepayments and other
 
$2.4
 
Entergy Mississippi
FTRs
 
Prepayments and other
 
$1.5
 
Entergy New Orleans
FTRs
 
Prepayments and other
 
$2.2
 
Entergy Texas
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Natural gas swaps
 
Other current liabilities
 
$7.0
 
Entergy Louisiana
Natural gas swaps
 
Other current liabilities
 
$1.3
 
Entergy Mississippi
Natural gas swaps
 
Other current liabilities
 
$0.5
 
Entergy New Orleans
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$0.7
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$25.5
 
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
 
$15.8
 
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 December 31, 2015 and 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 years ended December 31, 2015, 2014, and 2013 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
 
($33.2)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($6.1)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($1.4)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$68.7
 
Entergy Arkansas
FTRs
 
Purchased power
 
$55.4
 
Entergy Louisiana
FTRs
 
Purchased power
 
$16.5
 
Entergy Mississippi
FTRs
 
Purchased power
 
$8.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$16.8
 
Entergy Texas
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($5.5)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($2.5)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($0.2)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$21.6
 
Entergy Arkansas
FTRs
 
Purchased power
 
$103.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$19.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$16.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$65.8
 
Entergy Texas
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$10.5
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$2.5
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$0.1
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
($0.1)
 
Entergy Arkansas
FTRs
 
Purchased power
 
$0.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$1.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$1.2
 
Entergy New Orleans
FTRs
 
Purchased power
 
$0.8
 
Entergy Texas
Assets and liabilities at fair value on a recurring basis
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Temporary cash investments
 

$144.2

 

$—

 

$—

 

$144.2

Escrow accounts
 
41.7

 
—

 
—

 
41.7

FTRs
 
—

 
—

 
2.4

 
2.4

 
 

$185.9

 

$—

 

$2.4

 

$188.3

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Gas hedge contracts
 

$1.3

 

$—

 

$—

 

$1.3


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 year ended December 31, 2015.

Entergy
Arkansas
 
Entergy
Louisiana

Entergy
Mississippi

Entergy
New
Orleans

Entergy
Texas
 
(In Millions)

 
 











Balance as of January 1,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3

Issuances of FTRs
7.0

 
48.3

 
5.4

 
7.3

 
11.4

Gains (losses) included as a regulatory liability/asset
68.9

 
(9.9
)
 
10.1

 
(1.4
)
 
(4.7
)
Settlements
(68.7
)
 
(55.4
)
 
(16.5
)
 
(8.5
)
 
(16.8
)
Balance as of December 31,

$7.9

 

$8.5

 

$2.4

 

$1.5

 

$2.2



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 year ended December 31, 2014.
 
Entergy
Arkansas
 
Entergy
Louisiana
 
Entergy
Mississippi
 
Entergy
New
Orleans
 
Entergy
Texas
 
(In Millions)
 
 
 
 
 
 
 
 
 
 
Balance as of January 1,

$—

 

$12.4

 

$1.0

 

$2.0

 

$18.4

Issuances of FTRs
4.2

 
58.8

 
15.2

 
8.3

 
33.2

Gains (losses) included as a regulatory liability/asset
18.1

 
57.8

 
6.2

 
10.3

 
26.5

Settlements
(21.6
)
 
(103.5
)
 
(19.0
)
 
(16.5
)
 
(65.8
)
Balance as of December 31,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3
Entergy New Orleans [Member]  
Fair Values Of Derivative Instruments
he fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 and 2014 are as follows:
Instrument
 
Balance Sheet Location
 
Fair Value (a)
 
Registrant
 
 
 
 
(In Millions)
 
 
2015
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$7.9
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$8.5
 
Entergy Louisiana
FTRs
 
Prepayments and other
 
$2.4
 
Entergy Mississippi
FTRs
 
Prepayments and other
 
$1.5
 
Entergy New Orleans
FTRs
 
Prepayments and other
 
$2.2
 
Entergy Texas
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Natural gas swaps
 
Other current liabilities
 
$7.0
 
Entergy Louisiana
Natural gas swaps
 
Other current liabilities
 
$1.3
 
Entergy Mississippi
Natural gas swaps
 
Other current liabilities
 
$0.5
 
Entergy New Orleans
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$0.7
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$25.5
 
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
 
$15.8
 
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 December 31, 2015 and 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 years ended December 31, 2015, 2014, and 2013 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
 
($33.2)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($6.1)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($1.4)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$68.7
 
Entergy Arkansas
FTRs
 
Purchased power
 
$55.4
 
Entergy Louisiana
FTRs
 
Purchased power
 
$16.5
 
Entergy Mississippi
FTRs
 
Purchased power
 
$8.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$16.8
 
Entergy Texas
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($5.5)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($2.5)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($0.2)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$21.6
 
Entergy Arkansas
FTRs
 
Purchased power
 
$103.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$19.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$16.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$65.8
 
Entergy Texas
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$10.5
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$2.5
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$0.1
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
($0.1)
 
Entergy Arkansas
FTRs
 
Purchased power
 
$0.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$1.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$1.2
 
Entergy New Orleans
FTRs
 
Purchased power
 
$0.8
 
Entergy Texas
Assets and liabilities at fair value on a recurring basis
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Temporary cash investments
 

$87.8

 

$—

 

$—

 

$87.8

Securitization recovery trust account
 
4.6

 
—

 
—

 
4.6

Escrow accounts
 
81.0

 
—

 
—

 
81.0

FTRs
 
—

 
—

 
1.5

 
1.5

 
 

$173.4

 

$—

 

$1.5

 

$174.9

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Gas hedge contracts
 

$0.5

 

$—

 

$—

 

$0.5


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 year ended December 31, 2015.

Entergy
Arkansas
 
Entergy
Louisiana

Entergy
Mississippi

Entergy
New
Orleans

Entergy
Texas
 
(In Millions)

 
 











Balance as of January 1,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3

Issuances of FTRs
7.0

 
48.3

 
5.4

 
7.3

 
11.4

Gains (losses) included as a regulatory liability/asset
68.9

 
(9.9
)
 
10.1

 
(1.4
)
 
(4.7
)
Settlements
(68.7
)
 
(55.4
)
 
(16.5
)
 
(8.5
)
 
(16.8
)
Balance as of December 31,

$7.9

 

$8.5

 

$2.4

 

$1.5

 

$2.2



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 year ended December 31, 2014.
 
Entergy
Arkansas
 
Entergy
Louisiana
 
Entergy
Mississippi
 
Entergy
New
Orleans
 
Entergy
Texas
 
(In Millions)
 
 
 
 
 
 
 
 
 
 
Balance as of January 1,

$—

 

$12.4

 

$1.0

 

$2.0

 

$18.4

Issuances of FTRs
4.2

 
58.8

 
15.2

 
8.3

 
33.2

Gains (losses) included as a regulatory liability/asset
18.1

 
57.8

 
6.2

 
10.3

 
26.5

Settlements
(21.6
)
 
(103.5
)
 
(19.0
)
 
(16.5
)
 
(65.8
)
Balance as of December 31,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3
Entergy Texas [Member]  
Fair Values Of Derivative Instruments
he fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 and 2014 are as follows:
Instrument
 
Balance Sheet Location
 
Fair Value (a)
 
Registrant
 
 
 
 
(In Millions)
 
 
2015
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$7.9
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$8.5
 
Entergy Louisiana
FTRs
 
Prepayments and other
 
$2.4
 
Entergy Mississippi
FTRs
 
Prepayments and other
 
$1.5
 
Entergy New Orleans
FTRs
 
Prepayments and other
 
$2.2
 
Entergy Texas
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Natural gas swaps
 
Other current liabilities
 
$7.0
 
Entergy Louisiana
Natural gas swaps
 
Other current liabilities
 
$1.3
 
Entergy Mississippi
Natural gas swaps
 
Other current liabilities
 
$0.5
 
Entergy New Orleans
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
FTRs
 
Prepayments and other
 
$0.7
 
Entergy Arkansas
FTRs
 
Prepayments and other
 
$25.5
 
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
 
$15.8
 
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 December 31, 2015 and 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 years ended December 31, 2015, 2014, and 2013 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
 
($33.2)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($6.1)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($1.4)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$68.7
 
Entergy Arkansas
FTRs
 
Purchased power
 
$55.4
 
Entergy Louisiana
FTRs
 
Purchased power
 
$16.5
 
Entergy Mississippi
FTRs
 
Purchased power
 
$8.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$16.8
 
Entergy Texas
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($5.5)
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($2.5)
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
($0.2)
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
$21.6
 
Entergy Arkansas
FTRs
 
Purchased power
 
$103.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$19.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$16.5
 
Entergy New Orleans
FTRs
 
Purchased power
 
$65.8
 
Entergy Texas
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$10.5
 
Entergy Louisiana
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$2.5
 
Entergy Mississippi
Natural gas swaps
 
Fuel, fuel-related expenses, and gas purchased for resale
 
$0.1
 
Entergy New Orleans
 
 
 
 
 
 
 
FTRs
 
Purchased power
 
($0.1)
 
Entergy Arkansas
FTRs
 
Purchased power
 
$0.5
 
Entergy Louisiana
FTRs
 
Purchased power
 
$1.0
 
Entergy Mississippi
FTRs
 
Purchased power
 
$1.2
 
Entergy New Orleans
FTRs
 
Purchased power
 
$0.8
 
Entergy Texas
Assets and liabilities at fair value on a recurring basis
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Securitization recovery trust account
 

$38.2

 

$—

 

$—

 

$38.2

FTRs
 
—

 
—

 
2.2

 
2.2

 
 

$38.2

 

$—

 

$2.2

 

$40.4


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 year ended December 31, 2015.

Entergy
Arkansas
 
Entergy
Louisiana

Entergy
Mississippi

Entergy
New
Orleans

Entergy
Texas
 
(In Millions)

 
 











Balance as of January 1,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3

Issuances of FTRs
7.0

 
48.3

 
5.4

 
7.3

 
11.4

Gains (losses) included as a regulatory liability/asset
68.9

 
(9.9
)
 
10.1

 
(1.4
)
 
(4.7
)
Settlements
(68.7
)
 
(55.4
)
 
(16.5
)
 
(8.5
)
 
(16.8
)
Balance as of December 31,

$7.9

 

$8.5

 

$2.4

 

$1.5

 

$2.2



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 year ended December 31, 2014.
 
Entergy
Arkansas
 
Entergy
Louisiana
 
Entergy
Mississippi
 
Entergy
New
Orleans
 
Entergy
Texas
 
(In Millions)
 
 
 
 
 
 
 
 
 
 
Balance as of January 1,

$—

 

$12.4

 

$1.0

 

$2.0

 

$18.4

Issuances of FTRs
4.2

 
58.8

 
15.2

 
8.3

 
33.2

Gains (losses) included as a regulatory liability/asset
18.1

 
57.8

 
6.2

 
10.3

 
26.5

Settlements
(21.6
)
 
(103.5
)
 
(19.0
)
 
(16.5
)
 
(65.8
)
Balance as of December 31,

$0.7

 

$25.5

 

$3.4

 

$4.1

 

$12.3
System Energy [Member]  
Assets and liabilities at fair value on a recurring basis
2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(In Millions)
Assets:
 
 
 
 
 
 
 
 
Temporary cash investments
 

$222.0

 

$—

 

$—

 

$222.0

Decommissioning trust funds (a):
 
 
 
 
 
 
 
 
Equity securities
 
1.8

 
421.9

 
—

 
423.7

Debt securities
 
218.6

 
59.2

 
—

 
277.8

 
 

$442.4

 

$481.1

 

$—

 

$923.5


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

 
—

 
424.5

Debt securities
 
194.2

 
61.1

 
—

 
255.3

 
 

$418.6

 

$483.6

 

$—

 

$902.2