0000065984-16-000616.txt : 20160727 0000065984-16-000616.hdr.sgml : 20160727 20160727151048 ACCESSION NUMBER: 0000065984-16-000616 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20160727 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160727 DATE AS OF CHANGE: 20160727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY CORP /DE/ CENTRAL INDEX KEY: 0000065984 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 721229752 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11299 FILM NUMBER: 161786563 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045764000 MAIL ADDRESS: STREET 1: PO BOX 61000 CITY: NEW ORLEANS STATE: LA ZIP: 70161 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY CORP /FL/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY GSU HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH UTILITIES INC DATE OF NAME CHANGE: 19890521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYSTEM ENERGY RESOURCES INC CENTRAL INDEX KEY: 0000202584 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 720752777 STATE OF INCORPORATION: AR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09067 FILM NUMBER: 161786564 BUSINESS ADDRESS: STREET 1: ECHELON ONE STREET 2: 1340 ECHELON PKWY CITY: JACKSON STATE: MS ZIP: 39213 BUSINESS PHONE: 601-368-5000 MAIL ADDRESS: STREET 1: ECHELON ONE STREET 2: 1340 ECHELON PKWY CITY: JACKSON STATE: MS ZIP: 39213 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH ENERGY INC DATE OF NAME CHANGE: 19860803 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Entergy Texas, Inc. CENTRAL INDEX KEY: 0001427437 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 611435798 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34360 FILM NUMBER: 161786565 BUSINESS ADDRESS: STREET 1: 350 PINE STREET CITY: BEAUMONT STATE: TX ZIP: 77701 BUSINESS PHONE: 409-838-6631 MAIL ADDRESS: STREET 1: 350 PINE STREET CITY: BEAUMONT STATE: TX ZIP: 77701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY NEW ORLEANS INC CENTRAL INDEX KEY: 0000071508 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 720273040 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35747 FILM NUMBER: 161786566 BUSINESS ADDRESS: STREET 1: 1600 PERDIDO ST STREET 2: BLDG 505 CITY: NEW ORLEANS STATE: LA ZIP: 70112 BUSINESS PHONE: 504-670-3674 MAIL ADDRESS: STREET 1: 1600 PERDIDO ST STREET 2: BLDG 505 CITY: NEW ORLEANS STATE: LA ZIP: 70112 FORMER COMPANY: FORMER CONFORMED NAME: NEW ORLEANS PUBLIC SERVICE INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY MISSISSIPPI INC CENTRAL INDEX KEY: 0000066901 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 640205830 STATE OF INCORPORATION: MS FISCAL YEAR END: 0721 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31508 FILM NUMBER: 161786567 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 504-576-4000 MAIL ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 FORMER COMPANY: FORMER CONFORMED NAME: MISSISSIPPI POWER & LIGHT CO DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Entergy Louisiana, LLC CENTRAL INDEX KEY: 0001348952 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 753206126 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32718 FILM NUMBER: 161786568 BUSINESS ADDRESS: STREET 1: 4809 JEFFERSON HIGHWAY CITY: JEFFERSON STATE: LA ZIP: 70121 BUSINESS PHONE: 504-840-2734 MAIL ADDRESS: STREET 1: 4809 JEFFERSON HIGHWAY CITY: JEFFERSON STATE: LA ZIP: 70121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY ARKANSAS INC CENTRAL INDEX KEY: 0000007323 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 710005900 STATE OF INCORPORATION: AR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10764 FILM NUMBER: 161786569 BUSINESS ADDRESS: STREET 1: 425 WEST CAPITOL AVE STREET 2: 40TH FLOOR CITY: LITTLE ROCK STATE: AR ZIP: 72201 BUSINESS PHONE: 501-377-4000 MAIL ADDRESS: STREET 1: P. O. BOX 551 CITY: LITTLE ROCK STATE: AR ZIP: 72203 FORMER COMPANY: FORMER CONFORMED NAME: ARKANSAS POWER & LIGHT CO DATE OF NAME CHANGE: 19920703 8-K 1 a07016.htm 8-K Document


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date earliest event reported) July 27, 2016

Commission
File Number
Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and
IRS Employer Identification No.
Commission
File Number
Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, and
IRS Employer Identification No.
1-11299
ENTERGY CORPORATION
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 576-4000
72-1229752
1-35747
ENTERGY NEW ORLEANS, INC.
(a Louisiana corporation)
1600 Perdido Street
New Orleans, Louisiana 70112
Telephone (504) 670-3700
72-0273040
1-10764
ENTERGY ARKANSAS, INC.
(an Arkansas corporation)
425 West Capitol Avenue
Little Rock, Arkansas 72201
Telephone (501) 377-4000
71-0005900
1-34360
ENTERGY TEXAS, INC.
(a Texas corporation)
9425 Pinecroft
The Woodlands, Texas 77380
Telephone (409) 981-2000
61-1435798
1-32718
ENTERGY LOUISIANA, LLC
(a Texas limited liability company)
4809 Jefferson Highway
Jefferson, Louisiana 70121
Telephone (504) 576-4000
47-4469646
1-09067
SYSTEM ENERGY RESOURCES, INC.
(an Arkansas corporation)
Echelon One
1340 Echelon Parkway
Jackson, Mississippi 39213
Telephone (601) 368-5000
72-0752777
1-31508
ENTERGY MISSISSIPPI, INC.
(a Mississippi corporation)
308 East Pearl Street
Jackson, Mississippi 39201
Telephone (601) 368-5000
64-0205830
 
 


____________________________________________________________________________________________





Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

[ ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.
On July 27, 2016, Entergy Corporation published on its website the 2015 Entergy Statistical Report and Investor Guide (the “Report”). This Report is a compilation of financial and operating data, financial metrics and other information about Entergy and its subsidiaries. The Report is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information contained in this Current Report on Form 8-K is being furnished, not filed, pursuant to Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
2015 Entergy Statistical Report and Investor Guide








SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Entergy Corporation
Entergy Arkansas, Inc.
Entergy Louisiana, LLC
Entergy Mississippi, Inc.
Entergy New Orleans, Inc.
Entergy Texas, Inc.
System Energy Resources, Inc.


By: /s/ Marcus V. Brown
Marcus V. Brown
Executive Vice President and
General Counsel

Dated: July 27, 2016



EX-99 2 a07016exhibit.htm EXHIBIT 99 Exhibit



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY STATISTICAL REPORT
 
AND INVESTOR GUIDE
 
 
 
 2015








 
Our Vision: We Power Life
 
 
 
Our Mission: We exist to operate a world-class energy business that creates sustainable value
for our four stakeholders – owners,
customers, employees and the communities
in which we operate.
 
 
 
For our owners, we create value by aspiring to provide top-quartile returns
through the relentless pursuit of opportunities to optimize our business.
 
For our customers, we create value by delivering top-quartile customer satisfaction through
anticipating customer needs and exceeding their expectations while keeping rates reasonable.
 
For our employees, we create value by achieving top-quartile organizational
health, providing a safe, rewarding, engaging, diverse and inclusive work
environment, fair compensation and benefits, and opportunities to advance
their careers.
 
For our communities, we create value through economic development,
philanthropy, volunteerism and advocacy, and by operating our business
safely and in a socially and environmentally responsible way.
 
 
 
Entergy Corporation (NYSE: ETR) is an integrated energy company
engaged primarily in electric power production and retail
distribution operations. Entergy owns and operates power plants
with approximately 30,000 megawatts of electric generating
capacity, including nearly 10,000 megawatts of nuclear power.
Entergy delivers electricity to 2.8 million utility customers in Arkansas,
Louisiana, Mississippi and Texas. Entergy has annual revenues of
approximately $11.5 billion and more than 13,000 employees.

 
 
 
 
 
 
 
We have assembled the statistics and facts in this report to support your
review and analysis of Entergy’s results over the last five years. This
information is available in two electronic files, Excel and PDF in order to
facilitate easier access and analysis.
 
 
 
Entergy Investor Relations







 
 
 
 
 
TABLE OF CONTENTS
 
 
Note: The Excel Tab labels correspond to the page numbers
 
 
 
in the PDF version of the 2015 Statistical Report.
 
 
Excel Tab
 
 
Excel Tab
ABOUT THIS PUBLICATION
Page 2
 
UTILITY SECURITIES DETAIL
Page 31
FORWARD-LOOKING INFORMATION
Page 2
 
  Utility Long-Term Debt and Preferred Stock
Page 31
REGULATION G COMPLIANCE
Page 2
 
  Entergy Arkansas, Inc.
Page 31
ENTERGY AT A GLANCE
Pages 3 – 4
 
  Entergy Louisiana, LLC
Page 32
 
 
 
  Entergy Mississippi, Inc.
Page 33
ENTERGY CORPORATION AND SUBSIDIARIES
 
 
  Entergy New Orleans, Inc.
Page 33
  Selected Financial and Operating Data
Page 5
 
  Entergy Texas, Inc.
Page 34
     Selected Financial Data
Page 5
 
  System Energy Resources, Inc.
Page 34
     Utility Electric Operating Data
Page 5
 
UTILITY STATISTICAL INFORMATION
Page 35
     Entergy Wholesale Commodities Operating Data
Page 5
 
  Utility Total Capability
Page 35
     Employees
Page 5
 
  Utility Selected Operating Data
Page 35
     Owned and Leased Capability
Page 5
 
  Utility Consolidating Information
Page 36
    Consolidated Quarterly Financial Metrics
Page 6
 
  Entergy Arkansas, Inc.
Pages 37 – 38
    Consolidated Annual Financial Metrics
Page 6
 
  Entergy Louisiana, LLC
Pages 39 – 40
    Financial Results
Page 7
 
  Entergy Mississippi, Inc.
Pages 41 – 42
     Consolidated Quarterly Results
Page 7
 
  Entergy New Orleans, Inc.
Pages 43 – 44
     Consolidated Quarterly Special Items
Pages 8 – 9
 
  System Energy Resources, Inc.
Page 44
     Consolidated Annual Results
Page 10
 
  Entergy Texas, Inc.
Pages 45 – 46
     Consolidated Annual Special Items
Pages 11 – 12
 
  Utility Nuclear Plant Statistics
Page 47
     Consolidated Statements of Income
Page 13
 
UTILITY REGULATORY INFORMATION
Page 48
     Consolidating Income Statement
Page 14
 
  Regulatory Commissions
Page 48
     Consolidated Balance Sheets
Pages 15 – 16
 
  Commission/Council Members
Page 48
     Consolidating Balance Sheet
Pages 17 – 18
 
  Utility Electric and Gas Fuel Recovery Mechanisms
Page 49
     Consolidated Statements of Cash Flow
Pages 19 – 20
 
 
 
     Cash Flow Information by Business
Page 20
 
ENTERGY WHOLESALE COMMODITIES
 
     Consolidated Statements of Changes in Equity
Page 21
 
    EWC Quarterly Financial Metrics
Page 50
     Consolidated Statements of Comprehensive
Page 22
 
    EWC Annual Financial Metrics
Page 50
      Income
 
 
    EWC Quarterly Operational Metrics
Page 50
  Consolidated Capital Expenditures
Page 23
 
    EWC Annual Operational Metrics
Page 50
  Entergy Corporation Securities Detail
Page 23
 
    EWC Total Capacity
Page 50
     Entergy Corporation Long-Term Debt
Page 23
 
    EWC Nuclear Plant Statistics
Page 51
     Securities Ratings (Outlook)
Page 23
 
    EWC Non-Nuclear Wholesale Assets
Page 51
     Preferred Member Interests
Page 23
 
      Plant Statistics
 
 
 
 
    EWC Non-Nuclear Wholesale Assets
Page 51
UTILITY
 
 
      Plant Emissions
 
  Utility Quarterly Financial Metrics
Page 24
 
    EWC Nuclear Securities Detail
Page 52
  Utility Annual Financial Metrics
Page 24
 
    EWC Non-Nuclear Wholesale Assets
Page 52
  Utility Securities Ratings (Outlook)
Page 24
 
     Securities Detail
 
  Utility Historical Capital Expenditures
Page 24
 
 
 
 
 
 
DEFINITIONS OF OPERATIONAL MEASURES AND
 
  Utility Financial Results
Page 25
 
  GAAP AND NON-GAAP FINANCIAL MEASURES
Page 53
    Utility Consolidating Income Statement
Page 25
 
 
 
    Utility Consolidating Balance Sheet
Pages 26 – 27
 
REG G RECONCILIATIONS
 
    Utility Selected Annual Financial Metrics
Pages 28 – 30
 
  Financial Measures
Pages 54 – 70
 
 
 
 
 
 
 
 
INVESTOR INFORMATION
Page 71
 
 
 
 
 
 
 
 
 
 





ABOUT THIS PUBLICATION
• uncertainty regarding the establishment of interim or permanent sites for
This publication is unaudited and should be used in conjunction with Entergy’s
spent nuclear fuel and nuclear waste storage and disposal and the level of
2015 Annual Report to Shareholders and Form 10-K filed with the Securities
spent fuel and nuclear waste, disposal fees charged by the U.S.
and Exchange Commission. It has been prepared for information purposes and
government or other providers related to such sites
is not intended for use in connection with any sale or purchase of, or any offer
• variations in weather and the occurrence of hurricanes and other storms
to buy, any securities of Entergy Corporation or its subsidiaries.
and disasters, including uncertainties associated with efforts to remediate
 
the effects of hurricanes, ice storms, or other weather events and the recovery
FORWARD-LOOKING INFORMATION
of costs associated with restoration, including accessing funded storm reserves,
In this report and from time to time, Entergy Corporation makes statements concerning
federal and local cost recovery mechanisms, securitization, and insurance
its expectations, beliefs, plans, objectives, goals, strategies, and future
• effects of climate change
events or performance. Such statements are “forward-looking statements”
• changes in the quality and availability of water supplies and the related
within the meaning of the Private Securities Litigation Reform Act of 1995.
regulation of water use and diversion
Words such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “intend,”
• Entergy’s ability to manage its capital projects and operation
 “expect,” “estimate,” “continue,” “potential,” “plan,” “predict,” “forecast,”
and maintenance costs
and other similar words or expressions are intended to identify forward-looking
• Entergy’s ability to purchase and sell assets at attractive prices
statements but are not the only means to identify these statements. Although Entergy
and on other attractive terms
believes that these forward-looking statements and the underlying assumptions are
• the economic climate, and particularly economic conditions in Entergy’s
reasonable, it cannot provide assurance that they will prove correct. Any
Utility service area and the Northeast United States and events and
forward-looking statement is based on information current as of the date of this
circumstances that could influence economic conditions in those areas,
report and speaks only as of the date on which such statement is made.
including power prices and the risk that anticipated load growth
Except to the extent required by the federal securities laws, Entergy undertakes
may not materialize
no obligation to publicly update or revise any forward-looking statements,
• the effects of Entergy’s strategies to reduce tax payments
whether as a result of new information, future events, or otherwise.
• changes in the financial markets, particularly those affecting
     Forward-looking statements involve a number of risks and uncertainties.
the availability of capital and Entergy’s ability to refinance existing debt, execute
There are factors that could cause actual results to differ materially from those
share repurchase programs, and fund investments and acquisitions
expressed or implied in the forward-looking statements, including those
• actions of rating agencies, including changes in the ratings of
factors discussed or incorporated by reference in (a) Item 1A. Risk Factors
debt and preferred stock, changes in general corporate ratings,
in the 2015 Form 10-K, (b) Management’s Financial Discussion and Analysis
and changes in the rating agencies’ ratings criteria
in the 2015 Form 10-K, and (c) the following factors (in addition to others
• changes in inflation and interest rates
described elsewhere in this report and in subsequent securities filings):
• the effect of litigation and government investigations or proceedings
• resolution of pending and future rate cases and negotiations,
• changes in technology, including with respect to new, developing, or
including various performance-based rate discussions,
 alternative sources of generation
Entergy’s utility supply plan, and recovery of fuel and purchased power costs
• the effects of threatened or actual terrorism, cyber attacks or data
• the termination of Entergy Arkansas’s participation in the System Agreement,
security breaches, including increased security costs, accidents and war or a
which occurred in December 2013, the termination of Entergy Mississippi's
catastrophic event such as a nuclear accident or a natural gas pipeline
participation in the System Agreement which occurred in November 2015, and the
explosion
termination of Entergy Texas's, Entergy Gulf States Louisiana's, and Entergy Louisiana's
• Entergy’s ability to attract and retain talented management and directors
participation in the System Agreement which will occur on August 31, 2016, and
• changes in accounting standards and corporate governance
result in the termination of the System Agreement in its entirety pursuant to
• declines in the market prices of marketable securities and resulting funding
a settlement agreement approved by FERC in December 2015
requirements and the effects on benefit costs for Entergy’s defined benefit
• regulatory and operating challenges and uncertainties and economic risks
pension and other postretirement benefit plans
associated with the Utility operating companies’ move to MISO, which occurred
• future wage and employee benefit costs, including changes
in December 2013, including the effect of current or projected MISO market rules and
in discount rates and returns on benefit plan assets
market and system conditions in the MISO markets, the allocation of MISO system
• changes in decommissioning trust fund values or earnings or in the
transmission upgrade costs, and the effect of planning decisions that MISO makes
 timing of, requirement for, or cost to decommission nuclear plant sites
with respect to future transmission investments by the Utility operating companies
• the implementation of the planned shutdown of Pilgrim and FitzPatrick and the
• changes in utility regulation, including the beginning or end of retail and wholesale
related decommissioning of those plants and Vermont Yankee
 competition, the ability to recover net utility assets and other potential stranded
• the effectiveness of Entergy’s risk management policies and
 costs, and the application of more stringent transmission reliability requirements
procedures and the ability and willingness of its counterparties
 or market power criteria by the FERC
to satisfy their financial and performance commitments
• changes in the regulation or regulatory oversight of Entergy’s nuclear generating
• factors that could lead to impairment of long-lived assets
facilities and nuclear materials and fuel, including with respect to the planned, potential
• the ability to successfully complete merger, acquisition, or
or actual shutdown of nuclear generating facilities owned or operated by
divestiture plans, regulatory or other limitations imposed as a
Entergy Wholesale Commodities and the effects of new or existing safety or
result of merger, acquisition, or divestiture, and the success of
environmental concerns regarding nuclear power plants and nuclear fuel
the business following a merger, acquisition, or divestiture
• resolution of pending or future applications, and related regulatory proceedings
 
and litigation, for license renewals or modifications or other authorizations required
REGULATION G COMPLIANCE
of nuclear generating facilities and the effect of public and political opposition on
Financial performance measures shown in this report include those





 these applications, regulatory proceedings and litigation
calculated and presented in accordance with generally accepted
• the performance of and deliverability of power from Entergy’s generation
accounting principles (GAAP), as well as those that are considered
 resources, including the capacity factors at its nuclear generating facilities
non-GAAP measures. This report includes non-GAAP measures
• Entergy’s ability to develop and execute on a point of view regarding future
of operational earnings; operational earnings per share;
prices of electricity, natural gas, and other energy-related commodities
operational adjusted EBITDA; operational return
• prices for power generated by Entergy’s merchant generating
on average invested capital; operational return on average common or
facilities and the ability to hedge, meet credit support requirements for hedges,
members’ equity; operational price to earnings ratio;
sell power forward or otherwise reduce the market price risk associated
operational non-fuel operation and maintenance expense;
with those facilities, including the Entergy Wholesale Commodities nuclear plants
operational common dividend payout ratio; gross liquidity; net debt to
• the prices and availability of fuel and power Entergy must purchase
net capital ratio; debt to capital ratio, excluding securitization debt;
for its Utility customers, and Entergy’s ability to meet credit support
net debt to net capital ratio, excluding securitization debt;
requirements for fuel and power supply contracts
parent debt to total debt ratio, excluding securitization debt;
• volatility and changes in markets for electricity, natural gas,
debt to operational adjusted EBITDA, excluding securitization debt;
uranium, emissions allowances, and other energy-related commodities,
operational FFO to debt ratio, excluding securitization debt;
and the effect of those changes on Entergy and its customers
adjusted average total revenue per MWh; adjusted average total revenue per
• changes in law resulting from federal or state energy legislation or
per MWH, excluding VY; and operational non-fuel O&M per MWh
legislation subjecting energy derivatives used in hedging and risk
when describing Entergy’s results of operations and financial
management transactions to governmental regulation
performance. We have prepared reconciliations of these measures to the
• changes in environmental, tax, and other laws and regulations, including requirements
most directly comparable GAAP measures. Reconciliations can be found
for reduced emissions of sulfur dioxide, nitrogen oxide, greenhouse gases, mercury,
on pages 7, 10, and 54 – 70.
thermal energy and other regulated air and water emissions, and changes in costs of
compliance with environmental and other laws and regulations
 
 
 





ENTERGY AT A GLANCE
 
 
 
 
 
BUSINESS SEGMENT AND LEGAL ENTITY STRUCTURE OVERVIEW
 
 






Above diagram represents business segment structure and does not necessarily represent complete legal entity organization structure.
Only Entergy Wholesale Commodities plants with greater than 500 MWs of owned capacity are shown.
(a) Vermont Yankee plant ceased power production on 12/29/14
(b) Entergy Corp. owns 5%, Entergy Gulf States Louisiana, LLC owns 31.5%, and EL Investment Co., LLC owns 42.5%
     Unaffiliated third parties own 21%
 
 
(c) Remaining 25% is owned by another Entergy affiliate
 
 
 
 
 
CORPORATE PROFILE
 
BUSINESS SEGMENTS
Entergy Corporation is a Fortune 500 integrated energy company
 
Entergy’s five year results in this report are presented in
engaged primarily in electric power production and retail
 
three business segments:
distribution operations.
 
 
• Approximately 30,000 MW electric generating capacity
 
• Utility
• Nearly 10,000 MW nuclear power
 
• Entergy Wholesale Commodities
• 2.8 million utility customers
 
• Parent and Other
• Approximately $11.5 billion annual revenues
 
 
• More than 13,000 employees
 
In fourth quarter 2012, Entergy included subsidiaries
• 83 electric generating units operated
 
previously included and reported in the
 
 
Parent & Other segment in the Entergy Wholesale
 
 
Commodities segment to improve the alignment of certain
 
 
intercompany items. The prior period financial information
 
 
in this report has been restated to reflect this change.
 
 
 
 
 
On October 1, 2015, the businesses formerly conducted by Entergy Louisiana and Entergy Gulf States Louisiana were combined into a single public utility. With the completion of the business combination, Entergy Louisiana holds
substantially all of the assets, and has assumed the liabilities, of Entergy Louisiana and Entergy Gulf States Louisiana. The combination was accounted for as a transaction between entities under common control. The effect of the business combination has been retrospectively applied to Entergy Louisiana's data presented in this report.





ENTERGY CORPORATION AND SUBSIDIARIES
 
 
BUSINESS SEGMENTS (CONTINUED)
 
 
 
 
 
UTILITY
 
ENTERGY WHOLESALE COMMODITIES
Entergy’s utility companies generate, transmit, distribute, and sell
 
Entergy’s Wholesale Commodities business owns, operates and decommissions
electric power, and operate a small natural gas distribution business.
nuclear plants in the northern United States. This business is focused on
• Five electric utilities with 2.8 million customers
 
selling power produced by its operating plants to wholesale customers.
• Four states – Arkansas, Louisiana, Mississippi, Texas
 
Entergy’s Wholesale Commodities business also owns interests in non-nuclear
• 22,000 MW generating capacity
 
power plants that sell the electric power produced by those plants to
• Two gas utilities with 199,000 customers
 
wholesale customers. This business also provides services to other nuclear
 
 
power plant owners.
ENTERGY ARKANSAS, INC. (EAI)
 
• 4,406 MW nuclear-owned generating capacity in five units in northern U.S.
Entergy Arkansas generates, transmits, distributes, and sells electric
    • Pilgrim Nuclear Power Station in Plymouth, Massachusetts
power to 705,000 retail customers in portions of Arkansas.
 
    • James A. FitzPatrick in Oswego, New York
 
 
    • Indian Point Units 2 and 3 in Buchanan, New York
ENTERGY LOUISIANA, LLC (ELL)
 
    • Palisades Nuclear Energy Plant in Covert, Michigan
Entergy Louisiana generates, transmits, distributes, and sells electric
• 474 net MW non-nuclear generating capacity
power to 1,064,000 retail customers in portions of Louisiana. Entergy
• 800 MW under management services contract
Louisiana also provides natural gas service to 94,000 customers in
 
    • Cooper Nuclear Station located near Brownville, Nebraska
the Baton Rouge, Louisiana area.
 
• Contracts (ongoing and completed) with other nuclear facility owners to
 
 
    provide decommissioning and license renewal services
ENTERGY MISSISSIPPI, INC. (EMI)
 
 
Entergy Mississippi generates, transmits, distributes, and sells electric
On Dec. 29, 2014, Entergy Wholesale Commodities’ Vermont Yankee
power to 445,000 retail customers in portions of Mississippi.
 
nuclear plant ceased power production and entered its decommissioning
 
 
phase.
ENTERGY NEW ORLEANS, INC. (ENOI)
 
 
Entergy New Orleans generates, transmits, distributes, and sells
 
In 2015, Entergy determined that shutdown of FitzPatrick is planned
electric power to 197,000 retail customers in the city of New Orleans,
for 1/27/17, and Pilgrim shutdown is planned for 5/31/19.
Louisiana. Entergy New Orleans also provides natural gas utility
 
 
service to 105,000 customers in the city of New Orleans.
 
 
 
 
 
ENTERGY TEXAS, INC. (ETI)
 
 
Entergy Texas generates, transmits, distributes, and sells electric power
to 434,000 retail customers in portions of Texas.
 
 
 
 
 
SYSTEM ENERGY RESOURCES, INC. (SERI)
 
 
System Energy owns or leases 90% of the Grand Gulf 1 nuclear
 
 
generating facility. System Energy sells energy and capacity from
 
 
Grand Gulf 1 at wholesale to Entergy Arkansas (36%), Entergy Louisiana (14%),
Entergy Mississippi (33%) and Entergy New Orleans (17%).
 
 
 
 
 
UTILITY NUCLEAR PLANTS
 
 
Entergy owns and operates five nuclear units at four plant sites to serve
its regulated utility business: Arkansas Nuclear One (ANO) Units 1 and 2
near Russellville, Arkansas; Grand Gulf Nuclear Station in Port Gibson,
 
Mississippi; River Bend Station in St. Francisville, Louisiana and
 
 
Waterford 3 in Killona, Louisiana.
 
 
 
 
 






SELECTED FINANCIAL AND OPERATING DATA
SELECTED FINANCIAL DATA
 
 
 
 
 
 (In millions, except percentages, per share amounts, and ratios)
2015

2014

2013

2012

2011

GAAP MEASURES
 
 
 
 
 
Operating Revenues

$11,513


$12,495


$11,391


$10,302


$11,229

As-Reported Net Income

($177
)

$941


$712


$847


$1,346

As-Reported Earnings Per Share

($0.99
)

$5.22


$3.99


$4.76


$7.55

Shares of Common Stock Outstanding
 
 
 
 
 
     End of Year
178.4

179.2

178.4

177.8

176.4

     Weighted Average – Diluted
179.2

180.3

178.6

177.7

178.4

Return on Average Invested Capital – As-Reported
1.0
 %
5.6
%
4.7
%
5.5
%
8.0
%
Return on Average Common Equity – As-Reported
(1.8
)%
9.6
%
7.6
%
9.3
%
15.4
%
Net Cash Flow Provided by Operating Activities

$3,291


$3,889


$3,189


$2,940


$3,129

Year-End Closing Market Price Per Share of Common Stock

$68.36


$87.48


$63.27


$63.75


$73.05

Book Value Per Share at End of Year

$51.89


$55.83


$54.00


$51.72


$50.81

Market Value of Equity at End of Year

$12,195


$15,680


$11,286


$11,335


$12,883

Price to Earnings Ratio – As-Reported
(69.37
)
16.77

15.87

13.39

9.68

Common Dividend Paid Per Share

$3.34


$3.32


$3.32


$3.32


$3.32

Common Dividend Payout Ratio – As-Reported
(339
)%
64
%
83
%
70
%
44
%
NON-GAAP MEASURES
 
 
 
 
 
Operational Earnings

$1,076


$1,050


$957


$1,109


$1,359

Operational Earnings Per Share

$6.00


$5.83


$5.36


$6.23


$7.62

Special Items Per Share

($6.99
)

($0.61
)

($1.37
)

($1.47
)

($0.07
)
Return on Average Invested Capital – Operational
6.3
 %
6.1
%
5.8
%
6.6
%
8
%
Return on Average Common Equity – Operational
11.2
 %
10.7
%
10.2
%
12.2
%
15.6
%
Price to Earnings Ratio – Operational
11.38

15.02

11.80

10.23

9.59

Common Dividend Payout Ratio – Operational
56
 %
57
%
62
%
53
%
44
%
Certain prior year data has been reclassified to conform with current year presentation.
UTILITY ELECTRIC OPERATING DATA
 
 
 
 
 
 
 
2015

2014

2013

2012

2011

Retail Kilowatt-Hour Sales (millions)
112,312

110,910

107,781

107,004

108,688

Peak Demand (megawatts)
21,730

20,472

21,581

21,866

22,387

Retail Customers – Year End (thousands)
2,845

2,818

2,800

2,778

2,757

 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES OPERATING DATA
 
 
 
 
 
2015

2014

2013

2012

2011

Operating Revenues (millions)(a)

$2,062


$2,719


$2,313


$2,326


$2,414

Billed Electric Energy Sales (gigawatt hours)
39,745

44,424

45,127

46,178

43,497

(a) Includes revenue associated with below-market PPA for Palisades of $15,199,380 for 2015, $16,496,061 for 2014, $17,654,839 for 2013, $16,724,963 for 2012, and $42,996,197 for 2011.
 
 
 
 
 
 
 
EMPLOYEES
 
 
 
 
 

 

 
 
2015

2014

2013

2012

2011

Total Employees – Year End
13,579

13,393

13,808

14,625

14,682








OWNED AND LEASED CAPABILITY (MW)(a)
 
 
 
 
 
 As of December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Entergy

 Entergy

 Entergy

 Entergy

 Entergy

 System

Entergy Wholesale

 
 
 
 Arkansas

Louisiana

 Mississippi

 New Orleans

 Texas

Energy

Commodities(c)(d)

 Total

 
Gas/Oil
1,646

6,770

3,116

781

2,272


213

14,798

 
Coal
1,197

360

420


266


181

2,424

 
  Total Fossil
2,843

7,130

3,536

781

2,538


394

17,222

 
Nuclear
1,809

2,128




1,261

4,406

9,604

 
Other(b)
74






80

154

 
  Total
4,726

9,258

3,536

781

2,538

1,261

4,880

26,980

 
 (a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
 (b) Other includes Hydro (EAI) and Wind (EWC).
 
 
 (c) Reflects Net MW in Operation. Net MW in Operation is the installed capacity owned and operated. Excludes management services contract for Cooper Nuclear Station.
 
 (d) Reflects nameplate rating of generating unit and excludes capacity under contract.
 









CONSOLIDATED ENTERGY CORPORATION AND SUBSIDIARIES DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED QUARTERLY FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
 YTD %

 
 1Q

 2Q

 3Q

 4Q

 YTD

 1Q

 2Q

 3Q

 4Q

 YTD

CHANGE

GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 

As-Reported Net Income ($ millions)
298

149

(723
)
100

(177
)
401

189

230

120

941

(118.8
)
As-Reported Non-Fuel O&M ($ millions)
835

895

921

955

3,606

795

882

914

988

3,578

0.8

Return on Average Invested Capital –
 
 
 
 
 
 
 
 
 
 
 
         As-Reported (%)(a)
5.1

5.0

1.1

1.0

1.0

5.7

5.8

5.8

5.6

5.6

(82.1
)
Return on Average Common Equity –
 
 
 
 
 
 
 
 
 
 
 
         As-Reported (%)(a)
8.3

7.9

(1.6
)
(1.8
)
(1.8
)
9.9

10.1

9.9

9.6

9.6

(118.8
)
Revolver Capacity ($ millions)
3,779

4,158

3,869

3,582

3,582

4,077

4,003

3,975

3,592

3,592

(0.3
)
Total Debt ($ millions)
14,044

13,858

14,144

13,850

13,850

13,860

13,692

13,673

13,917

13,917

(0.5
)
Debt to Capital Ratio (%)
57.4

57.0

60.2

59.1

59.1

57.5

56.9

56.7

57.4

57.4

3.0

 
 
 
 
 
 
 
 
 
 
 
 
NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
Operational Earnings ($ millions)
303

150

341

283

1,076

410

200

304

135

1,050

2.5

    Operational Non-Fuel O&M ($ millions)
842

897

923

961

3,623

807

898

925

1,009

3,637

(0.4
)
Return on Average Invested Capital –
 
 
 
 
 
 
 
 
 
 
 
         Operational (%)(a)
5.6

5.4

5.6

6.3

6.3

6.8

6.8

6.3

6.1

6.1

3.3

Return on Average Common Equity –
 
 
 
 
 
 
 
 
 
 
 
         Operational (%)(a)
9.4

8.8

9.6

11.2

11.2

12.5

12.6

11.2

10.7

10.7

4.7

Total Gross Liquidity ($ millions)
4,960

5,068

4,910

4,933

4,933

4,985

4,653

5,044

5,014

5,014

(1.6
)
Debt to Capital Ratio,
     Excluding Securitization Debt (%)
56.0

55.6

58.7

57.7

57.7

55.9

55.4

55.2

56.0

56.0

3.0

Net Debt to Net Capital Ratio,
     Excluding Securitization Debt (%)
53.7

53.9

56.7

55.0

55.0

54.1

54.1

53.0

53.2

53.2

3.4

Parent Debt to Total Debt Ratio,
     Excluding Securitization Debt (%)
20.9

20.3

20.9

21.9

21.9

20.6

20.2

19.6

20.4

20.4

7.4

Debt to Operational EBITDA,
     Excluding Securitization Debt
3.9

3.9

3.9

4.1

4.1

3.7

3.5

3.6

3.7

3.7

10.8

Operational FFO to Debt Ratio,
     Excluding Securitization Debt (%)
28.2

28.4

25.4

25.7

25.7

26.9

28.9

29.4

27.8

27.8

(7.6
)
(a) Rolling twelve months. Totals may not foot due to rounding.
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED ANNUAL FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 2015

 
 2014

 
 2013

 
 2012

 
 2011

GAAP MEASURES
 
 

 
 
 
 
 
 
 
 
 
As-Reported Net Income ($ millions)
 
 
(177
)
 
941

 
712

 
847

 
1,346

As-Reported Non-Fuel O&M ($ millions)
 
 
3,606

 
3,578

 
3,589

 
3,291

 
3,123

Return on Average Invested Capital – As-Reported (%)
 
     1.0

 
     5.6

 
     4.7

 
     5.5

 
     8.0

Return on Average Common Equity – As-Reported (%)
 
(1.8
)
 
9.6

 
7.6

 
9.3

 
15.4

Revolver Capacity ($ millions)
 
 
3,582

 
3,592

 
3,977

 
3,462

 
2,001

Total Debt ($ millions)
 
 
13,850

 
13,917

 
13,562

 
13,358

 
12,283

Debt to Capital Ratio (%)
 
 
     59.1

 
     57.4

 
     57.7

 
     58.5

 
     57.1

Off-Balance Sheet Liabilities ($ millions)
 
 
 
 
 
 
 
 
 
 
 
  Debt of Joint Ventures – Entergy’s Share
 
 
77

 
81

 
86

 
90

 
94

  Leases – Entergy’s Share
 
 
359

 
422

 
456

 
505

 
508

  Power Purchase Agreements Accounted for as Leases (a)
 
195

 
224

 
253

 
282

 
307

Total
 
 
631

 
727

 
795

 
877

 
909

 
 
 
 
 
 
 
 
 
 
 
 
NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 





Operational Earnings ($ millions)
 
 
1,076

 
1,050

 
957

 
1,109

 
1,359

Operational Non-Fuel O&M ($ millions)
 
 
3,623

 
3,637

 
3,690

 
3,330

 
3,136

Return on Average Invested Capital – Operational (%)
 
     6.3

 
     6.1

 
     5.8

 
     6.6

 
     8.0

Return on Average Common Equity – Operational (%)
 
     11.2

 
     10.7

 
     10.2

 
     12.2

 
     15.6

Total Gross Liquidity ($ millions)
 
 
4,933

 
5,014

 
4,716

 
3,995

 
2,695

Debt to Capital Ratio,
     Excluding Securitization Debt (%)
 
 
     57.7

 
     56.0

 
     56.1

 
     56.6

 
     54.8

Net Debt to Net Capital Ratio, Excluding Securitization Debt (%)
 
 
     55.0

 
     53.2

 
     54.6

 
     55.6

 
     53.2

Parent Debt to Total Debt, Excluding Securitization Debt (%)
 
 
     21.9

 
     20.4

 
     21.9

 
     23.7

 
     25.8

Debt to Operational EBITDA, Excluding Securitization Debt
 
 
     4.1

 
     3.7

 
     4.0

 
     4.1

 
     3.3

Operational FFO to Debt Ratio, Excluding Securitization Debt (%)
 
 
     25.7

 
     27.8

 
     27.0

 
     24.0

 
     22.6

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
(a) For further detail, see Note 10 on page 164 of the 2015 SEC Form 10-K.
 
 
 
 








FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED QUARTERLY RESULTS – GAAP TO NON-GAAP RECONCILIATION
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
 YTD

($/share)
 1Q

 2Q

 3Q

 4Q

 YTD

 1Q

 2Q

 3Q

 4Q

 YTD

 CHANGE

AS-REPORTED
   

   

   

   

   

   

   

   

   

   

   

Utility
1.24

1.11

2.01

1.75

6.12

1.12

1.15

1.72

0.60

4.60

1.52

Entergy Wholesale Commodities
0.68

(0.02
)
(5.76
)
(0.86
)
(5.96
)
1.35

0.14

(0.18
)
0.31

1.62

(7.58
)
Parent & Other
(0.27
)
(0.26
)
(0.29
)
(0.33
)
(1.15
)
(0.23
)
(0.24
)
(0.27
)
(0.25
)
(1.00
)
(0.15
)
CONSOLIDATED AS-REPORTED EARNINGS
1.65

0.83

(4.04
)
0.56

(0.99
)
2.24

1.05

1.27

0.66

5.22

(6.21
)
LESS SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
Utility





(0.01
)
(0.02
)

(0.01
)
(0.04
)
0.04

Entergy Wholesale Commodities
(0.03
)

(5.94
)
(1.02
)
(6.99
)
(0.04
)
(0.04
)
(0.41
)
(0.08
)
(0.57
)
(6.42
)
Parent & Other











TOTAL SPECIAL ITEMS
(0.03
)

(5.94
)
(1.02
)
(6.99
)
(0.05
)
(0.06
)
(0.41
)
(0.09
)
(0.61
)
(6.38
)
OPERATIONAL
 
 
 
 
 
 
 
 
 
 
 
Utility
1.24

1.11

2.01

1.75

6.12

1.13

1.17

1.72

0.61

4.64

1.48

Entergy Wholesale Commodities
0.71

(0.02
)
(0.29
)
0.16

1.03

1.39

0.18

0.23

0.39

2.19

(1.16
)
Parent & Other
(0.27
)
(0.26
)
0.18

(0.33
)
(1.15
)
(0.23
)
(0.24
)
(0.27
)
(0.25
)
(1.00
)
(0.15
)
CONSOLIDATED OPERATIONAL EARNINGS
1.68

0.83

1.90

1.58

6.00

2.29

1.11

1.68

0.75

5.83

0.17

 
 
 
 
 
 
 
 
 
 
 
 
Weather Impact
0.08

(0.02
)
0.16

(0.03
)
0.19

0.18

(0.05
)
(0.11
)
0.05

0.07

     0.12

 
 
 
 
 
 
 
 
 
 
 
 
SHARES OF COMMON STOCK
 
 
 
 
 
 
 
 
 
 
   

OUTSTANDING (in millions)
 
 
 
 
 
 
 
 
 
 
 
  End of Period
179.5

179.5

178.4

178.4

178.4

179.1

179.6

179.6

179.2

179.2

         (0.8)

  Weighted Average - Diluted
180.5

180

180.5

179.1

179.2

179.1

180.0

180.5

181.6

180.3

         (1.1)

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED QUARTERLY SPECIAL ITEMS - BY ITEM TYPE
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
 YTD

($/share)
 1Q
 2Q
 3Q
 4Q
 YTD
 1Q
 2Q
 3Q
 4Q
 YTD
CHANGE

UTILITY
   
   
   
   
   
   
   
   
   
   
   
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
  HCM implementation expenses



 
 
(0.01
)
(0.02
)

(0.01
)
(0.04
)
0.04

Total





(0.01
)
(0.02
)

(0.01
)
(0.04
)
0.04

ENTERGY WHOLESALE COMMODITIES
   

   

   

   

   

   

   

   

   

   

 
SPECIAL ITEMS
   

   

   

   

   

   

   

   

   

   

 
  Decisions to close VY, FitzPatrick, and Pilgrim
(0.03
)

(5.94
)
(0.02
)
(5.99
)
(0.03
)
(0.04
)
(0.41
)
(0.08
)
(0.56
)
(5.43
)
  Palisades asset impairment and related write-offs



(1.43
)
(1.43
)





(1.43
)
  Top Deer investment impairment



(0.13
)
(0.13
)





(0.13
)
  Gain on the sale of RISEC



0.56

0.56






0.56

  HCM implementation expenses





(0.01
)



(0.01
)
0.01

Total
(0.03
)

(5.94
)
(1.02
)
(6.99
)
(0.04
)
(0.04
)
(0.41
)
(0.08
)
(0.57
)
(6.42
)
TOTAL SPECIAL ITEMS
(0.03
)

(5.94
)
(1.02
)
(6.99
)
(0.05
)
(0.06
)
(0.41
)
(0.09
)
(0.61
)
(6.38
)
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
 YTD

($ millions)
 1Q
 2Q
 3Q
 4Q
 YTD
 1Q
 2Q
 3Q
 4Q
 YTD
 CHANGE

UTILITY
 

 

 

 

 

 

 

 

 

 

 

SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
  HCM implementation expenses





(2.3
)
(3.5
)
(0.3
)
(1.5
)
(7.6
)
7.6

Total





(2.3
)
(3.5
)
(0.3
)
(1.5
)
(7.6
)
7.6

ENTERGY WHOLESALE COMMODITIES
 
 
 
 
 
 
 
 
 
 
 
SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
  Decisions to close VY, FitzPatrick, and Pilgrim
(4.6
)
(1.1
)
(1,063.7
)
(3.3
)
(1,072.7
)
(5.9
)
(6.9
)
(73.7
)
(13.2
)
(99.7
)
(973.0
)
  Palisades asset impairment and related write-offs



(255.9
)
(255.9
)





(255.9
)
  Top Deer investment impairment



(23.9
)
(23.9
)





(23.9
)
  Gain on the sale of RISEC



100.1

100.1






100.1

  HCM implementation expenses





(0.7
)
(0.6
)
(0.3
)
(0.5
)
(2.1
)
2.1

Total
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(1,252.4
)
(6.6
)
(7.5
)
(74.0
)
(13.7
)
(101.8
)
(1,150.6
)
TOTAL SPECIAL ITEMS
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(1,252.4
)
(8.9
)
(11.0
)
(74.3
)
(15.2
)
(109.4
)
(1,143.0
)
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED ANNUAL SPECIAL ITEMS - BY INCOME STATEMENT LINE ITEM
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
 
(Pre-tax except for Income taxes, $ millions)
 1Q
 2Q
 3Q
 4Q
 YTD
 1Q
 2Q
 3Q
 4Q
 YTD
 CHANGE

UTILITY SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
  Other operation and maintenance





(3.9
)
(5.6
)
(0.7
)
(2.4
)
(12.6
)
12.6

  Taxes other than income taxes





(0.2
)
(0.3
)

(0.1
)
(0.6
)
0.6

  Income taxes





1.8

2.4

0.4

1.0

5.6

(5.6
)
Total





(2.3
)
(3.5
)
(0.3
)
(1.5
)
(7.6
)
7.6

ENTERGY WHOLESALE COMMODITIES SPECIAL ITEMS
 
 
 
 
 
 
 
 
 
 
 
  Other operation and maintenance
(7.5
)
(1.6
)
(1.7
)
(6.2
)
(17.0
)
(7.8
)
(9.6
)
(10.2
)
(19.1
)
(46.8
)
29.8

  Asset write-offs, impairments, and related
  charges


(1,642.2
)
(394.0
)
(2,036.2
)
(2.3
)
(1.7
)
(103.0
)
(0.6
)
(107.5
)
(1,928.7
)
  Taxes other than income taxes
0.3


(0.1
)
(0.5
)
(0.3
)
(0.6
)
(0.8
)
(0.8
)
(1.4
)
(3.6
)
3.3

  Gain on sale of asset



154.0

154.0






154.0

  Miscellaneous net (other income)



(36.8
)
(36.8
)





(36.8
)
  Income taxes
2.5

0.6

580.3

100.4

683.8

4.1

4.6

39.9

7.4

56.1

627.7

Total
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(1,252.4
)
(6.6
)
(7.5
)
(74.0
)
(13.7
)
(101.8
)
(1,150.6
)
TOTAL SPECIAL ITEMS
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(1,252.4
)
(8.9
)
(11.0
)
(74.3
)
(15.2
)
(109.4
)
(1,143.0
)
*Operating revenue less fuel, fuel related expenses, purchased power and other regulatory charges (credits) – net.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED ANNUAL RESULTS – GAAP TO NON-GAAP RECONCILIATION
 
 
 
 
 
 
 
($/share)
 2015

 2014

 2013

 2012

 2011

AS-REPORTED
 
 
 
 
 
Utility
6.12

4.60

4.64

5.30

6.20

Entergy Wholesale Commodities
(5.96
)
1.62

0.24

0.23

2.74

Parent & Other
(1.15
)
(1.00
)
(0.89
)
(0.77
)
(1.39
)
CONSOLIDATED AS-REPORTED EARNINGS
(0.99
)
5.22

3.99

4.76

7.55

LESS SPECIAL ITEMS
 
 
 
 
 
Utility

(0.04
)
(0.16
)
(0.21
)

Entergy Wholesale Commodities
(6.99
)
(0.57
)
(1.23
)
(1.26
)

Parent & Other


0.02


(0.07
)
TOTAL SPECIAL ITEMS
(6.99
)
(0.61
)
(1.37
)
(1.47
)
(0.07
)
OPERATIONAL
 
 
 
 
 
Utility
6.12

4.64

4.80

5.51

6.20

Entergy Wholesale Commodities
1.03

2.19

1.47

1.49

2.74

Parent & Other
(1.15
)
(1.00
)
(0.91
)
(0.77
)
(1.32
)
CONSOLIDATED OPERATIONAL EARNINGS
6.00

5.83

5.36

6.23

7.62

Weather Impact
0.19

0.07


(0.09
)
0.52

 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED ANNUAL SPECIAL ITEMS - BY ITEM TYPE
 
 
 
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
($/share)
 2015

 2014

 2013

 2012

 2011

UTILITY SPECIAL ITEMS
 
 
 
 
 
  Transmission business spin-merge expenses


(0.05
)
(0.21
)

  HCM implementation expenses

(0.04
)
(0.11
)


Total

(0.04
)
(0.16
)
(0.21
)

ENTERGY WHOLESALE COMMODITIES SPECIAL ITEMS
 
 
 
 
 
  Decisions to close VY, FitzPatrick, and Pilgrim
(5.99
)
(0.56
)
(1.15
)
(1.26
)

  Palisades asset impairment and related write-offs
(1.43
)




  Top Deer investment impairment
(0.13
)




  Gain on the sale of RISEC
0.56





  HCM implementation expenses

(0.01
)
(0.08
)


Total
(6.99
)
(0.57
)
(1.23
)
(1.26
)

PARENT & OTHER SPECIAL ITEMS
 
 
 
 
 
  Transmission business spin-merge expenses


0.03


(0.07
)
  HCM implementation expenses


(0.01
)


Total


0.02


(0.07
)
TOTAL SPECIAL ITEMS
(6.99
)
(0.61
)
(1.37
)
(1.47
)
(0.07
)
 
 
 
 
 
 
($ millions)
2015

2014

2013

2012

2011

UTILITY SPECIAL ITEMS
 
 
 
 
 
  Transmission business spin-merge expenses


(8.7
)
(37.1
)

  HCM implementation expenses

(7.6
)
(20.3
)


Total

(7.6
)
(29.0
)
(37.1
)

ENTERGY WHOLESALE COMMODITIES SPECIAL ITEMS
 
 
 
 
 
  Decisions to close VY, FitzPatrick, and Pilgrim
(1,072.7
)
(99.7
)
(204.8
)
(223.5
)

  Palisades asset impairment and related write-offs
(255.9
)

 


  Top Deer investment impairment
(23.9
)




  Gain on the sale of RISEC
100.1





  HCM implementation expenses

(2.1
)
(15.0
)


Total
(1,252.4
)
(101.8
)
(219.8
)
(223.5
)

PARENT & OTHER SPECIAL ITEMS
 
 
 
 
 
  Transmission business spin-merge expenses


5.5

(1.0
)
(13.0
)
  HCM implementation expenses


(1.9
)


Total


3.6

(1.0
)
(13.0
)
TOTAL SPECIAL ITEMS
(1,252.4
)
(109.4
)
(245.2
)
(261.6
)
(13.0
)
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY CORPORATION CONSOLIDATED ANNUAL SPECIAL ITEMS - BY INCOME STATEMENT LINE ITEM
 
 
Shown as Positive/(Negative) Impact on Earnings
 
 
 
 
 
 
 
 
 
 
 
(Pre-tax except for Income taxes, $ millions)
 2015

 2014

 2013

 2012

 2011

UTILITY SPECIAL ITEMS
 
 
 
 
 
  Net revenue*


5.7



  Non-fuel O&M

(12.6
)
(64.0
)
(38.2
)

  Asset write-offs, impairments, and related charges


(9.4
)


  Taxes other than income taxes

(0.6
)
(1.0
)


  Income taxes - other

5.6

39.7

1.0


Total

(7.6
)
(29.0
)
(37.1
)

ENTERGY WHOLESALE COMMODITIES SPECIAL ITEMS
 
 
 
 
 
  Non-fuel O&M
(17.0
)
(46.8
)
(37.1
)


  Asset write-offs, impairments, and related charges
(2,036.2
)
(107.5
)
(329.3
)
(355.5
)

  Taxes other than income taxes
(0.3
)
(3.6
)
(1.1
)
 

  Gain on sale of asset
154.0





  Miscellaneous net (other income)
(36.8
)




  Income taxes - other
683.8

56.1

147.7

132.1


Total
(1,252.4
)
(101.8
)
(219.8
)
(223.5
)

PARENT & OTHER SPECIAL ITEMS
 
 
 
 
 
  Non-fuel O&M


(0.3
)
(1.0
)
(13.0
)
  Asset write-offs, impairments, and related charges


(2.8
)


  Income taxes - other


6.7



Total


3.6

(1.0
)
(13.0
)
TOTAL SPECIAL ITEMS
(1,252.4
)
(109.4
)
(245.2
)
(261.6
)
(13.0
)
*Operating revenue less fuel, fuel related expenses, purchased power and other regulatory charges (credits) – net.
 
 
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 






FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
 
 
 
 
 
 
 
 
 
 
 
In thousands, except share data, for the years ended December 31,
 2015

 2014

 2013

 2012

 2011

OPERATING REVENUES:
 
 
 
 
 
Electric
$
9,308,678

$
9,591,902

$
8,942,360

$
7,870,649

$
8,673,517

Natural gas
142,746

181,794

154,353

130,836

165,819

Competitive businesses
2,061,827

2,721,225

2,294,234

2,300,594

2,389,737

Total
11,513,251

12,494,921

11,390,947

10,302,079

11,229,073

OPERATING EXPENSES:
 
 
 
 
 
Operating and maintenance:
 
 
 
 
 
  Fuel, fuel-related expenses, and gas purchased for resale
2,452,171

2,632,558

2,445,818

2,036,835

2,492,714

  Purchased power
1,390,805

1,915,414

1,554,332

1,255,800

1,564,967

  Nuclear refueling outage expenses
251,316

267,679

256,801

245,600

255,618

  Other operation and maintenance
3,354,981

3,310,536

3,331,934

3,045,392

2,867,758

Asset write-offs, impairments, and related charges
2,104,906

179,752

341,537

355,524


Decommissioning
280,272

272,621

242,104

184,760

190,595

Taxes other than income taxes
619,422

604,606

600,350

557,298

536,026

Depreciation and amortization
1,337,276

1,318,638

1,261,044

1,144,585

1,102,202

Other regulatory charges (credits) – net
175,304

(13,772
)
45,597

175,104

205,959

     Total
11,966,453

10,488,032

10,079,517

9,000,898

9,215,839

Gain on sale of asset / business
154,037


43,569



OPERATING INCOME (LOSS)
(299,165
)
2,006,889

1,354,999

1,301,181

2,013,234

OTHER INCOME (DEDUCTIONS):
 
 
 
 
 
Allowance for equity funds used during construction
51,908

64,802

66,053

92,759

84,305

Interest and investment income
187,062

147,686

199,300

127,776

128,994

Miscellaneous – net
(95,997
)
(42,016
)
(59,762
)
(53,214
)
(59,271
)
     Total
142,973

170,472

205,591

167,321

154,028

INTEREST EXPENSE:
 
 
 
 
 
Interest expense
670,096

661,083

629,537

606,596

551,521

Allowance for borrowed funds used during construction
(26,627
)
(33,576
)
(25,500
)
(37,312
)
(37,894
)
     Total
643,469

627,507

604,037

569,284

513,627

INCOME (LOSS) BEFORE INCOME TAXES
(799,661
)
1,549,854

956,553

899,218

1,653,635

Income taxes
(642,927
)
589,597

225,981

30,855

286,263

CONSOLIDATED NET INCOME (LOSS)
(156,734
)
960,257

730,572

868,363

1,367,372

Preferred dividend requirements of subsidiaries
19,828

19,536

18,670

21,690

20,933

NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION
$
(176,562
)
$
940,721

$
711,902

$
846,673

$
1,346,439

Basic earnings (loss) per average common share
 $ (0.99)

 $5.24

 $3.99

 $4.77

 $7.59

Diluted earnings (loss) per average common share
 $ (0.99)

 $5.22

 $3.99

 $4.76

 $7.55

Average number of common shares outstanding:
 
 
 
 
 
  Basic average number of common shares outstanding
179,176,356

179,506,151

178,211,192

177,324,813

177,430,208

  Diluted average number of common shares outstanding
179,176,356

180,296,885

178,570,400

177,737,565

178,370,695

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
2015 CONSOLIDATING INCOME STATEMENT (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 ENTERGY

 
 
 
 
 WHOLESALE

 PARENT &

 
In thousands, except share data, for the year ended December 31, 2015.
 UTILITY

 COMMODITIES

OTHER

CONSOLIDATED

OPERATING REVENUES:
 

 

 

 

Electric
$
9,308,740

$

$
(62
)
$
9,308,678

Natural gas
142,746



142,746

Competitive businesses

2,061,827


2,061,827

     Total
9,451,486

2,061,827

(62
)
11,513,251

OPERATING EXPENSES:
 
 
 
 
Operating and maintenance:
 
 
 
 
  Fuel, fuel-related expenses, and gas purchased for resale
2,137,122

315,111

(62
)
2,452,171

  Purchased power
1,310,175

80,564

66

1,390,805

  Nuclear refueling outage expenses
117,545

133,771


251,316

  Other operation and maintenance
2,443,075

899,373

12,533

3,354,981

Asset write-offs, impairments, and related charges
68,672

2,036,234


2,104,906

Decommissioning
142,744

137,528


280,272

Taxes other than income taxes
507,739

110,533

1,150

619,422

Depreciation and amortization
1,096,088

239,032

2,156

1,337,276

Other regulatory charges (credits) - net
175,304



175,304

     Total
7,998,464

3,952,146

15,843

11,966,453

Gain on sale of asset / business

154,037


154,037

OPERATING INCOME (LOSS)
1,453,022

(1,736,282
)
(15,905
)
(299,165
)
OTHER INCOME (DEDUCTIONS):
 
 
 
 
Allowance for equity funds used during construction
51,908



51,908

Interest and investment income
191,546

148,654

(153,138
)
187,062

Miscellaneous – net
(22,067
)
(61,580
)
(12,350
)
(95,997
)
     Total
221,387

87,074

(165,488
)
142,973

INTEREST EXPENSE:
 
 
 
 
Interest expense
569,759

26,788

73,549

670,096

Allowance for borrowed funds used during construction
(26,627
)


(26,627
)
     Total
543,132

26,788

73,549

643,469

INCOME (LOSS) BEFORE INCOME TAXES
1,131,277

(1,675,996
)
(254,942
)
(799,661
)
Income taxes
16,761

(610,339
)
(49,349
)
(642,927
)
CONSOLIDATED NET INCOME (LOSS)
1,114,516

(1,065,657
)
(205,593
)
(156,734
)
Preferred dividend requirements of subsidiaries
17,641

2,187


19,828

NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION
$
1,096,875

$
(1,067,844
)
$
(205,593
)
$
(176,562
)
Basic earnings (loss) per average common share
 $6.12

 $ (5.96)

 $ (1.15)

 $ (0.99)

Diluted earnings (loss) per average common share
 $6.12

 $ (5.96)

 $ (1.15)

 $ (0.99)

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED BALANCE SHEETS (unaudited)
 
 
 
 
 
 
 
 
 
 
 
In thousands, as of December 31,
 2015

 2014

 2013

 2012

 2011

ASSETS
 
 
 
 
 
CURRENT ASSETS:
 
 
 
 
 
Cash and cash equivalents:
 
 
 
 
 
  Cash
$
63,497

$
131,327

$
129,979

$
112,992

$
81,468

  Temporary cash investments
1,287,464

1,290,699

609,147

419,577

612,970

     Total cash and cash equivalents
1,350,961

1,422,026

739,126

532,569

694,438

Securitization recovery trust account



46,040

50,304

Accounts receivable:
 
 
 
 
 
  Customer
608,491

596,917

670,641

568,871

568,558

  Allowance for doubtful accounts
(39,895
)
(35,663
)
(34,311
)
(31,956
)
(31,159
)
  Other
178,364

220,342

195,028

161,408

166,186

  Accrued unbilled revenues
321,940

321,659

340,828

303,392

298,283

     Total accounts receivable
1,068,900

1,103,255

1,172,186

1,001,715

1,001,868

Deferred fuel costs

155,140

116,379

150,363

209,776

Accumulated deferred income taxes

27,783

175,073

306,902

9,856

Fuel inventory – at average cost
217,810

205,434

208,958

213,831

202,132

Materials and supplies – at average cost
873,357

918,584

915,006

928,530

894,756

Deferred nuclear refueling outage costs
211,512

214,188

192,474

243,374

231,031

System agreement cost equalization



16,880

36,800

Prepayments and other
344,872

343,223

410,489

242,922

291,742

     Total
4,067,412

4,389,633

3,929,691

3,683,126

3,622,703

OTHER PROPERTY AND INVESTMENTS:
 
 
 
 
 
Investment in affiliates – at equity
4,341

36,234

40,350

46,738

44,876

Decommissioning trust funds
5,349,953

5,370,932

4,903,144

4,190,108

3,788,031

Non-utility property – at cost (less accumulated depreciation)
219,999

213,791

199,375

256,039

260,436

Other
468,704

405,169

210,616

436,234

416,423

     Total
6,042,997

6,026,126

5,353,485

4,929,119

4,509,766

PROPERTY, PLANT AND EQUIPMENT:
 
 
 
 
 
Electric
44,467,159

44,881,419

42,935,712

41,944,567

39,385,524

Property under capital lease
952,465

945,784

941,299

935,199

809,449

Natural gas
392,032

377,565

366,365

353,492

343,550

Construction work in progress
1,456,735

1,425,981

1,514,857

1,365,699

1,779,723

Nuclear fuel
1,345,422

1,542,055

1,566,904

1,598,430

1,546,167

     Total property, plant and equipment
48,613,813

49,172,804

47,325,137

46,197,387

43,864,413

Less – accumulated depreciation and amortization
20,789,452

20,449,858

19,443,493

18,898,842

18,255,128

     Property, plant and equipment – net
27,824,361

28,722,946

27,881,644

27,298,545

25,609,285

DEFERRED DEBITS AND OTHER ASSETS:
 
 
 
 
 
Regulatory assets:
 
 
 
 
 
  Regulatory asset for income taxes - net
775,528

836,064

849,718

742,030

799,006

  Other regulatory assets (includes securitization property of
 
 
 
 
 
   $714,044 as of December 31, 2015, $724,839 as
 
 
 
 
 
   of December 31, 2014, $822,218 as of December 31, 2013,
 
 
 
 
 
  $914,751 as of December 31, 2012, and
 
 
 
 
 
   $1,009,103 as of December 31, 2011)
4,704,796

4,968,553

3,893,363

5,025,912

4,636,871

  Deferred fuel costs
238,902

238,102

172,202

172,202

172,202

Goodwill
377,172

377,172

377,172

377,172

377,172

Accumulated deferred income taxes
54,903

48,351

62,011

37,748

19,003

Other
561,610

807,508

771,004

821,485

851,668

     Total
6,712,911

7,275,750

6,125,470

7,176,549

6,855,922

TOTAL ASSETS
$
44,647,681

$
46,414,455

$
43,290,290

$
43,087,339

$
40,597,676

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED BALANCE SHEETS (unaudited)
 
 
 
 
 
 
 
 
 
 
 
In thousands, as of December 31,
 2015

 2014

 2013

 2012

 2011

LIABILITIES AND EQUITY
 
 
 
 
 
CURRENT LIABILITIES:
 
 
 
 
 
Currently maturing long-term debt
$
214,374

$
899,375

$
457,095

$
718,516

$
2,192,733

Notes payable and commercial paper
494,348

598,407

1,046,887

796,002

108,331

Accounts payable
1,071,798

1,166,431

1,173,313

1,217,180

1,069,096

Customer deposits
419,407

412,166

370,997

359,078

351,741

Taxes accrued
210,077

128,108

191,093

333,719

278,235

Accumulated deferred income taxes

38,039

28,307

13,109

99,929

Interest accrued
194,565

206,010

180,997

184,664

183,512

Deferred fuel costs
235,986

91,602

57,631

96,439

255,839

Obligations under capital leases
2,709

2,508

2,323

3,880

3,631

Pension and other postretirement liabilities
62,513

57,994

67,419

95,900

44,031

System agreement cost equalization



25,848

80,090

Other
184,181

248,251

484,510

261,986

283,531

     Total
3,089,958

3,848,891

4,060,572

4,106,321

4,950,699

 
 
 
 
 
 
NON-CURRENT LIABILITIES:
 
 
 
 
 
Accumulated deferred income taxes and taxes accrued
8,306,865

9,133,161

8,724,635

8,311,756

8,096,452

Accumulated deferred investment tax credits
234,300

247,521

263,765

273,696

284,747

Obligations under capital leases
27,001

29,710

32,218

34,541

38,421

Other regulatory liabilities
1,414,898

1,383,609

1,295,955

898,614

728,193

Decommissioning and asset retirement cost liabilities
4,790,187

4,458,296

3,933,416

3,513,634

3,296,570

Accumulated provisions
460,727

418,128

115,139

362,226

385,512

Pension and other postretirement liabilities
3,187,357

3,638,295

2,320,704

3,725,886

3,133,657

Long-term debt (includes securitization bonds
 
 
 
 
 
  of $774,696 as of December 31, 2015, $776,817 as of
 
 
 
 
 
  December 31, 2014, $883,013 as of December 31, 2013,
 
 
 
 
 
  $973,480 as of December 31, 2012, and
 
 
 
 
 
  $1,070,556 as of December 31, 2011)
13,111,556

12,386,710

12,022,993

11,805,155

9,939,690

Other
449,856

557,649

583,667

577,910

501,954

     Total
31,982,747

32,253,079

29,292,492

29,503,418

26,405,196

 
 
 
 
 
 
Commitments and Contingencies
 
 
 
 
 
 
 
 
 
 
 
Subsidiaries' preferred stock without sinking fund
318,185

210,760

210,760

186,511

186,511

 
 
 
 
 
 
EQUITY:
 
 
 
 
 
Common shareholders' equity:
 
 
 
 
 
Common stock, $.01 par value, authorized 500,000,000
 
 
 
 
 
  shares; issued 254,752,788 shares in 2015, 2014, 2013,
 
 
 
 
 
  2012, and 2011
2,548

2,548

2,548

2,548

2,548

Paid-in capital
5,403,758

5,375,353

5,368,131

5,357,852

5,360,682

Retained earnings
9,393,913

10,169,657

9,825,053

9,704,591

9,446,960

Accumulated other comprehensive income (loss)
8,951

(42,307
)
(29,324
)
(293,083
)
(168,452
)
Less – treasury stock, at cost (76,363,763 shares in 2015,
 
 
 
 
 
  75,512,079 shares in 2014, 76,381,936 shares in 2013,
 
 
 
 
 
  76,945,239 shares in 2012, and 78,396,988 shares in
  2011)
5,552,379

5,497,526

5,533,942

5,574,819

5,680,468

     Total common shareholders' equity
9,256,791

10,007,725

9,632,466

9,197,089

8,961,270

Subsidiaries' preferred stock without sinking fund

94,000

94,000

94,000

94,000

     Total
9,256,791

10,101,725

9,726,466

9,291,089

9,055,270

 
 
 
 
 
 
TOTAL LIABILITIES AND EQUITY
$
44,647,681

$
46,414,455

$
43,290,290

$
43,087,339

$
40,597,676

Certain prior year data has been reclassified to conform with current year presentation.
 
   
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
2015 CONSOLIDATING BALANCE SHEET (unaudited)
 
 
 
 
 
 
 ENTERGY

 
 
 
 
 WHOLESALE

 
 
In thousands, as of December 31, 2015.
 UTILITY

 COMMODITIES

 PARENT & OTHER

 CONSOLIDATED

ASSETS
 

 

 

 

CURRENT ASSETS:
 

   

 

 

Cash and cash equivalents:
 
 
 
 
  Cash
$
57,098

$
5,717

$
682

$
63,497

  Temporary cash investments
561,970

713,285

12,208

1,287,464

     Total cash and cash equivalents
619,068

719,002

12,890

1,350,961

Notes receivable

513,778

(513,778
)

Accounts receivable:
 
 
 
 
  Customer
440,869

167,622


608,491

  Allowance for doubtful accounts
(39,895
)


(39,895
)
  Associated companies
30,948

3,230

(34,177
)

  Other
169,447

8,917


178,364

  Accrued unbilled revenues
321,940



321,940

     Total accounts receivable
923,309

179,769

(34,177
)
1,068,900

Fuel inventory – at average cost
210,861

6,949


217,810

Materials and supplies – at average cost
627,702

245,654


873,357

Deferred nuclear refueling outage costs
140,423

71,089


211,512

Prepayments and other
141,096

212,352

(8,576
)
344,872

     Total
2,662,459

1,948,593

(543,641
)
4,067,412

OTHER PROPERTY AND INVESTMENTS:
 
 
 
 
Investment in affiliates – at equity
1,390,786

4,228

(1,390,673
)
4,341

Decommissioning trust funds
2,515,066

2,834,887


5,349,953

Non-utility property – at cost (less accumulated depreciation)
212,997

7,012

(10
)
219,999

Other
460,322

8,382


468,704

     Total
4,579,171

2,854,509

(1,390,683
)
6,042,997

PROPERTY, PLANT AND EQUIPMENT:
 
 
 
 
Electric
41,079,998

3,383,581

3,579

44,467,159

Property under capital lease
952,465



952,465

Natural gas
392,032



392,032

Construction work in progress
1,326,728

129,659

349

1,456,735

Nuclear fuel
856,573

488,850


1,345,422

   Total property, plant and equipment
44,607,796

4,002,090

3,928

48,613,813

Less – accumulated depreciation and amortization
19,654,374

1,134,880

198

20,789,452

  Property, plant and equipment – net
24,953,422

2,867,210

3,730

27,824,361

DEFERRED DEBITS AND OTHER ASSETS:
 
 
 
 
Regulatory assets:
 
 
 
 
  Regulatory asset for income taxes - net
775,528



775,528

  Other regulatory assets (includes securitization property of
 
 
 
 
     $714,044 as of December 31, 2015)
4,704,796



4,704,796

  Deferred fuel costs
238,902



238,902

Goodwill
374,099

3,073


377,172

Accumulated deferred income taxes
15,888

37,809

1,206

54,903

Other
52,641

498,989

9,980

561,610

     Total
6,161,854

539,871

11,186

6,712,911

TOTAL ASSETS
$
38,356,906

$
8,210,183

$
(1,919,408
)
$
44,647,681

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
2015 CONSOLIDATING BALANCE SHEET (unaudited)
 
 
 
 
 
 
 ENTERGY

 
 
 
 
 WHOLESALE

 
 
In thousands, as of December 31, 2015.
 UTILITY

 COMMODITIES

 PARENT & OTHER

 CONSOLIDATED

LIABILITIES AND EQUITY
 

 

 

 

CURRENT LIABILITIES:
 
 
 
 
Currently maturing long-term debt
$
209,374

$
5,000

$

$
214,374

Notes payable and commercial paper:
 
 
 
 
  Associated companies

324,315

(324,315
)

  Other
72,047


422,302

494,348

Accounts payable:
 
 
 
 
  Associated companies
25,119

25,433

(50,553
)

  Other
877,395

193,810

593

1,071,798

Customer deposits
419,407



419,407

Taxes accrued
159,650

155,893

(105,466
)
210,077

Interest accrued
163,391

13

31,161

194,565

Deferred fuel costs
235,986



235,986

Obligations under capital leases
2,709



2,709

Pension and other postretirement liabilities
53,143

9,370


62,513

Other
150,308

31,937

1,936

184,181

     Total
2,368,529

745,771

(24,342
)
3,089,958

 
 
 
 
 
NON-CURRENT LIABILITIES:
 
 
 
 
Accumulated deferred income taxes and taxes accrued
7,459,787

546,835

300,243

8,306,865

Accumulated deferred investment tax credits
234,300



234,300

Obligations under capital leases
27,001



27,001

Other regulatory liabilities
1,414,898



1,414,898

Decommissioning and asset retirement cost liabilities
2,720,676

2,069,511


4,790,187

Accumulated provisions
458,366

2,361


460,727

Pension and other postretirement liabilities
2,423,018

764,339


3,187,357

Long-term debt (includes securitization bonds
 
 
 
 
  of $774,696 as of December 31, 2015)
10,643,726

41,259

2,426,571

13,111,556

Other
736,685

307,694

(594,523
)
449,856

     Total
26,118,457

3,731,999

2,132,291

31,982,747

 
 
 
 
 
Commitments and Contingencies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subsidiaries' preferred stock without sinking fund
293,936

24,249


318,185

 
 
 
 
 
 
 
 
 
 
EQUITY:
 
 
 
 
Common shareholders' equity:
 
 
 
 
Common stock, $.01 par value, authorized 500,000,000 shares;
 
 
 
 
  issued 254,752,788 shares in 2015
2,091,268

201,103

(2,289,823
)
2,548

Paid-in capital
2,548,659

1,680,843

1,174,256

5,403,758

Retained earnings
5,185,328

1,687,996

2,520,589

9,393,913

Accumulated other comprehensive income (loss)
(129,271
)
138,222


8,951

Less – treasury stock, at cost (76,363,763 shares in 2015)
120,000


5,432,379

5,552,379

     Total common shareholders' equity
9,575,984

3,708,164

(4,027,357
)
9,256,791

Subsidiaries' preferred stock without sinking fund




     Total
9,575,984

3,708,164

(4,027,357
)
9,256,791

 
 
 
 
 
TOTAL LIABILITIES AND EQUITY
$
38,356,906

$
8,210,183

$
(1,919,408
)
$
44,647,681

Totals may not foot due to rounding.
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
 
 
 
 
 
 
 
 
 
 
 
In thousands, for the years ended December 31,
 2015

 2014

 2013

 2012

 2011

OPERATING ACTIVITIES:
 
 
 
 
 
Consolidated net income
$
(156,734
)
$
960,257

$
730,572

$
868,363

$
1,367,372

Adjustments to reconcile consolidated net income
 
 
 
 
 
  to net cash flow provided by operating activities:
 
 
 
 
 
Depreciation, amortization, and decommissioning, including nuclear fuel amortization
2,117,236

2,127,892

2,012,076

1,771,649

1,745,455

Deferred income taxes, investment tax credits, and non-current taxes accrued
(820,350
)
596,935

311,789

(26,479
)
(280,029
)
Asset write-offs, impairments, and related charges
2,104,906

123,527

341,537

355,524


Gain on sale of asset / business
(154,037
)

(43,569
)


Changes in working capital:
 
 
 
 
 
  Receivables
38,152

98,493

(180,648
)
(14,202
)
28,091

  Fuel inventory
(12,376
)
3,524

4,873

(11,604
)
5,393

  Accounts payable
(135,211
)
(12,996
)
94,436

(6,779
)
(131,970
)
  Prepaid taxes and taxes accrued
81,969

(62,985
)
(142,626
)
55,484

580,042

  Interest accrued
(11,445
)
25,013

(3,667
)
1,152

(34,172
)
  Deferred fuel costs
298,725

(70,691
)
(4,824
)
(99,987
)
(55,686
)
  Other working capital accounts
(113,701
)
112,390

(66,330
)
(151,989
)
41,875

Changes in provisions for estimated losses
42,566

301,871

(248,205
)
(24,808
)
(11,086
)
Changes in other regulatory assets
262,317

(1,061,537
)
1,105,622

(398,428
)
(673,244
)
Changes in other regulatory liabilities
61,241

87,654

397,341

170,421

189,167

Changes in pensions and other postretirement liabilities
(446,418
)
1,308,166

(1,433,663
)
644,099

962,461

Other
134,344

(647,952
)
314,505

(192,131
)
(604,852
)
     Net cash flow provided by operating activities
3,291,184

3,889,561

3,189,219

2,940,285

3,128,817

INVESTING ACTIVITIES:
 
 
 
 
 
Construction/capital expenditures
(2,500,860
)
(2,119,191
)
(2,287,593
)
(2,674,650
)
(2,040,027
)
Allowance for equity funds used during construction
53,635

68,375

69,689

96,131

86,252

Nuclear fuel purchases
(493,604
)
(537,548
)
(517,825
)
(557,960
)
(641,493
)
Payment for purchase of plant


(17,300
)
(456,356
)
(646,137
)
Proceeds from sale of assets and businesses
487,406

10,100

147,922


6,531

Insurance proceeds received for property damages
24,399

40,670




Changes in securitization account
(5,806
)
1,511

155

4,265

(7,260
)
NYPA value sharing payment
(70,790
)
(72,000
)
(71,736
)
(72,000
)
(72,000
)
Payments to storm reserve escrow account
(69,163
)
(276,057
)
(7,716
)
(8,957
)
(6,425
)
Receipts from storm reserve escrow account
5,916


260,279

27,884


Decrease (increase) in other investments
571

46,983

(82,955
)
15,175

(11,623
)
Litigation proceeds for reimbursement of spent nuclear fuel storage costs
18,296


21,034

109,105


Proceeds from nuclear decommissioning trust fund sales
2,492,176

1,872,115

2,031,552

2,074,055

1,360,346

Investment in nuclear decommissioning trust funds
(2,550,958
)
(1,989,446
)
(2,147,099
)
(2,196,489
)
(1,475,017
)
     Net cash flow used in investing activities
(2,608,782
)
(2,954,488
)
(2,601,593
)
(3,639,797
)
(3,446,853
)
FINANCING ACTIVITIES:
 
 
 
 
 
Proceeds from the issuance of:
 
 
 
 
 
  Long-term debt
3,502,189

3,100,069

3,746,016

3,478,361

2,990,881

  Preferred stock of subsidiary
107,426


24,249



  Mandatorily redeemable preferred membership units of subsidiary



51,000


  Treasury stock
24,366

194,866

24,527

62,886

46,185

Retirement of long-term debt
(3,461,518
)
(2,323,313
)
(3,814,666
)
(3,130,233
)
(2,437,372
)
Repurchase of common stock
(99,807
)
(183,271
)


(234,632
)
Repurchase / redemptions of preferred stock
(94,285
)



(30,308
)
Changes in credit borrowings and commercial paper – net
(104,047
)
(448,475
)
250,889

687,675

(6,501
)
Other
(9,136
)
23,579




Dividends paid:
 
 
 
 
 
  Common stock
(598,897
)
(596,117
)
(593,037
)
(589,209
)
(589,605
)
  Preferred stock
(19,758
)
(19,511
)
(18,802
)
(22,329
)
(20,933
)
Net cash flow used in financing activities
(753,467
)
(252,173
)
(380,824
)
538,151

(282,285
)
Effect of exchange rates on cash and cash equivalents


(245
)
(508
)
287

Net increase (decrease) in cash and cash equivalents
(71,065
)
682,900

206,557

(161,869
)
(600,034
)
Cash and cash equivalents at beginning of period
1,422,026

739,126

532,569

694,438

1,294,472

Cash and cash equivalents at end of period
$
1,350,961

$
1,422,026

$
739,126

$
532,569

$
694,438

 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)
 
 
 
 
 
 
$ thousands, for the years ended December 31,
 2015

 2014

 2013

 2012

 2011

SUPPLEMENTAL DISCLOSURE OF
 
 
 
 
 
CASH FLOW INFORMATION:
 
 
 
 
 
  Cash paid (received) during the period for:
 
 
 
 
 
    Interest – net of amount capitalized
663,630

611,376

570,212

546,125

532,271

    Income taxes
103,589

77,799

127,735

49,214

(2,042
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CASH FLOW INFORMATION BY BUSINESS
 
 

 
 
 
 
 
 
 ENTERGY

 
 
 
 
 
 WHOLESALE

 
 
For the years ended December 31, 2015, 2014, 2013, 2012 and 2011.
 
 UTILITY

 COMMODITIES

 PARENT & OTHER

 CONSOLIDATED

($ thousands)
 
 

 

 

 

2015
 
 

 

 

 

Net cash flow provided by operating activities
 
2,906,716

461,842

(77,374
)
3,291,184

Net cash flow provided by (used in) investing activities
 
(2,565,963
)
(46,527
)
3,709

(2,608,782
)
Net cash flow provided by (used in) financing activities
 
(695,099
)
(129,012
)
70,643

(753,467
)
 
 
 
 
 
 
2014
 
 
 
 
 
Net cash flow provided by operating activities
 
3,318,660

1,034,278

(463,377
)
3,889,561

Net cash flow provided by (used in) investing activities
 
(2,635,690
)
(612,227
)
293,429

(2,954,488
)
Net cash flow provided by (used in) financing activities
 
(260,772
)
(165,840
)
174,440

(252,173
)
 
 
 
 
 
 
2013
 
 
 
 
 
Net cash flow provided by operating activities
 
2,208,089

730,011

251,118

3,189,219

Net cash flow provided by (used in) investing activities
 
(1,989,855
)
(611,689
)
(51
)
(2,601,593
)
Net cash flow provided by (used in) financing activities
 
(47,150
)
(82,542
)
(251,132
)
(380,824
)
 
 
 
 
 
 
2012
 
 
 
 
 
Net cash flow provided by (used in) operating activities
 
2,354,454

675,779

(89,948
)
2,940,285

Net cash flow provided by (used in) investing activities
 
(3,070,785
)
(563,996
)
(5,016
)
(3,639,797
)
Net cash flow provided by (used in) financing activities
 
736,832

(292,860
)
94,179

538,151

 
 
 
 
 
 
2011
 
 
 
 
 
Net cash flow provided by operating activities
 
2,099,569

756,499

272,749

3,128,817

Net cash flow provided by (used in) investing activities
 
(2,346,218
)
(1,262,664
)
162,029

(3,446,853
)
Net cash flow provided by (used in) financing activities
 
(215,304
)
374,484

(441,465
)
(282,285
)
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited)
 
 
 
 
 
 
 
 
 
 
Common Shareholders’ Equity
 
($ thousands)
Subsidiaries’ Preferred Stock
Common Stock
Treasury Stock
Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Total
Balance at December 31, 2010
94,000

2,548

(5,524,811
)
5,367,474

8,689,401

(38,212
)
8,590,400

 
 
 
 
 
 
 
 
Consolidated net income (a)
20,933




1,346,439


1,367,372

Other comprehensive loss





(130,240
)
(130,240
)
Common stock repurchases


(234,632
)



(234,632
)
Common stock issuances related to stock plans


78,975

(6,792
)


72,183

Common stock dividends declared




(588,880
)

(588,880
)
Preferred dividend requirements of subsidiaries(a)
(20,933
)





(20,933
)
 
 
 
 
 
 
 
 
Balance at December 31, 2011
94,000

2,548

(5,680,468
)
5,360,682

9,446,960

(168,452
)
9,055,270

 
 
 
 
 
 
 
 
Consolidated net income (a)
21,690




846,673


868,363

Other comprehensive loss





(124,631
)
(124,631
)
Common stock issuances related to stock plans


105,649

(2,830
)


102,819

Common stock dividends declared




(589,042
)

(589,042
)
Preferred dividend requirements of subsidiaries(a)
(21,690
)





(21,690
)
 
 
 
 
 
 
 
 
Balance at December 31, 2012
94,000

2,548

(5,574,819
)
5,357,852

9,704,591

(293,083
)
9,291,089

 
 
 
 
 
 
 
 
Consolidated net income (a)
18,670




711,902


730,572

Other comprehensive income





263,759

263,759

Common stock issuances related to stock plans


40,877

10,279



51,156

Common stock dividends declared




(591,440
)

(591,440
)
Preferred dividend requirements of subsidiaries(a)
(18,670
)





(18,670
)
 
 
 
 
 
 
 
 
Balance at December 31, 2013
94,000

2,548

(5,533,942
)
5,368,131

9,825,053

(29,324
)
9,726,466

 
 
 
 
 
 
 
 
Consolidated net income (a)
19,536




940,721


960,257

Other comprehensive income





(12,983
)
(12,983
)
Common stock repurchases


(183,271
)



(183,271
)
Common stock issuances related to stock plans


219,687

7,222



226,909

Common stock dividends declared




(596,117
)

(596,117
)
Preferred dividend requirements of subsidiaries(a)
(19,536
)





(19,536
)
 
 
 
 
 
 
 
 
Balance at December 31, 2014
94,000

2,548

(5,497,526
)
5,375,353

10,169,657

(42,307
)
10,101,725

Consolidated net income (loss) (a)
19,828




(176,562
)

(156,734
)
Other comprehensive income





51,258

51,258

Common stock repurchases


(99,807
)



(99,807
)
Preferred stock repurchases/redemptions
(94,000
)



(285
)

(94,285
)
Common stock issuances related to stock plans


44,954

28,405



73,359

Common stock dividends declared




(598,897
)

(598,897
)
Preferred dividend requirements of subsidiaries(a)
(19,828
)





(19,828
)
 
 
 
 
 
 
 
 
Balance at December 31, 2015

2,548

(5,552,379
)
5,403,758

9,393,913

8,951

9,256,791

Certain prior year data has been reclassified to conform with current year presentation.
(a) Consolidated net income and preferred dividend requirements of subsidiaries for 2015, 2014, 2013, 2012, and 2011 include $14.9 million, $12.9 million, $12.0 million, $15.0 million, and $13.3 million respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity.





FINANCIAL RESULTS
 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
 
 
In thousands, for the years ended December 31,
2015

2014

2013

2012

2011

NET INCOME
$
(156,734
)
$
960,257

$
730,572

$
868,363

$
1,367,372

Other comprehensive income (loss)
 
 
 
 
 
   Cash flow hedges net unrealized gain (loss)
 
 
 
 
 
     (net of tax expense (benefit) of $3,752, $96,141, ($87,940), ($55,750), and $34,411
 
 
 
 
 
     for 2015 to 2011, respectively)
7,852

179,895

(161,682
)
(97,591
)
71,239

   Pension and other postretirement liabilities
 
 
 
 
 
     (net of tax expense (benefit) of $61,576, ($152,763), $220,899, ($61,223), and ($131,198)
 
 
 
 
 
     for 2015 to 2011, respectively)
103,185

(281,566
)
302,489

(91,157
)
(223,090
)
   Net unrealized investment gains (losses)
 
 
 
 
 
     (net of tax expense (benefit) of ($45,904), $66,594, $118,878, $61,104, and $19,368
 
 
 
 
 
     for 2015 to 2011, respectively)
(59,138
)
89,439

122,709

63,609

21,254

   Foreign currency translation
 
 
 
 
 
     (net of tax expense (benefit) of ($345), ($404), $131, $275, and $192
 
 
 
 
 
     for 2015 to 2011, respectively)
(641
)
(751
)
243

508

357

         Other comprehensive income (loss)
51,258

(12,983
)
263,759

(124,631
)
(130,240
)
COMPREHENSIVE INCOME (LOSS)
(105,476
)
947,274

994,331

743,732

1,237,132

Preferred dividend requirements of subsidiaries
19,828

19,536

18,670

21,690

20,933

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION
$
(125,304
)
$
927,738

$
975,661

$
722,042

$
1,216,199

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





CONSOLIDATED CAPITAL EXPENDITURES
 
 
 
 
 
 
 
 
 
 
 
 
HISTORICAL CAPITAL EXPENDITURES
 
 
 
 
 
($ millions)
 
 2015

 2014

 2013

 2012

 2011

Utility
 
 
 
 
 
 
  Maintenance
1,220

1,004

1,008

868

925

  Other
 
998

824

1,019

1,973

1,121

Entergy Wholesale Commodities
353

363

349

362

712

Parent & Other



(1
)

     Total Historical Capital Expenditures
2,571

2,191

2,376

3,203

2,758

 
 
 
 
 
 
 


ENTERGY CORPORATION SECURITIES DETAIL
 
 
 
 
 
 
 
 
ENTERGY CORPORATION LONG-TERM DEBT
 
CURRENT OR
 
 
 
 
 
MATURITY
FIRST CALL
FIRST CALL
AS OF DECEMBER 31,
CUSIP
 
RATE
DATE
DATE
PRICE
2015

2014

   
 
 
 
 
 
 
 
   
$3.5B Bank Credit Facility
1.98%
08/20 (b)
 
 
 $ 835

 $ 695

 
Commercial Paper (a)
0.90%
 
 
 
422

484

 29364GAE3
3.625% Notes
3.625%
09/15
 
 

550

 29364GAF0
5.125% Notes
5.125%
09/20
Now
MW (T+.40%)
450

450

 29364GAG8
4.70% Notes
4.7%
01/17
Now
MW (T+.50%)
500

500

 29364GAH6
4.00% Notes
4.0%
07/22
Now
MW (T+.30%)
650


 
Total
 
 
 
 
 $ 2,857

 $ 2,679

(a) Entergy Corporation has a commercial paper program with a program limit of up to $1.5 billion.
 
(b) The maturity date was extended in August 2015.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SECURITIES RATINGS (OUTLOOK)
 
 
 
 
 
 
 
 
CORPORATE CREDIT
 
As of June 2016
 
 
MOODY’S
 
S&P
 
 
Entergy Corporation
Baa3 (positive)
BBB (positive)
 
 
 
 
 
 
 
 
 
 






 
 
 
 
 
 
 CALL PRICE PER SHARE
PREFERRED MEMBER INTERESTS
 
 AS OF DECEMBER 31,
 
 AS OF DECEMBER 31,
CUSIP
DESCRIPTION
 
 
 
 RATE
 2015

 2014

 2013

 
 2015
 
 
 
 
 
 
 (in millions)
 
 
 
Held by Entergy Louisiana:
 
 
 
 
 
 
None
Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC (6,843,780 shares in 2015; 5,449,862 shares in 2014 and 2013) (a)
10.00%
 $ 684

 $ 545

 $ 545

 
 $100.00
 
 
 
 
 
 
 
 
None
Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC (4,126,940 shares in 2015; 2,624,297 shares in 2014 and 2013) (a)
9.00%
413

262

262

 
 $100.00
 
 
 
 
 
 
 
 
None
Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC (2,935,153 shares in 2015; 2,272,726 shares in 2014; 0 shares in 2013) (a)
7.50%
294

227


 
 $100.00
 
 
 
 
 
 
 
 
 
Held by Entergy Gulf States:
 
 
 
 
 
 
 
 
 
None
Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC (0 shares in 2015; 1,393,918 shares in 2014 and 2013) (a)
 
10.00%

139

139

 
 $100.00
 
 
 
 
 
 
 
 
None
Class B preferred non-voting membership interest units of Entergy Holdings Co. LLC (0 shares in 2015; 1,502,643 shares in 2014 and 2013 (a)
9.00%

150

150

 
 $100.00
 
 
 
 
 
 
 
 
 
None
Class C preferred non-voting membership interest units of Entergy Holdings Co. LLC (0 shares in 2015; 662,427 shares in 2014; 0 shares in 2013) (a)
7.50%

66


 
 $100.00
 
 
 
 
 
 
 
 
 
   Preferred member interests
 
 $ 1,390

 $ 1,390

 $ 1,097

 
 
OTHER NON-CURRENT LIABILITIES:
 
 
 
 
 
 
 
None
Class A preferred non-voting membership interest units of Entergy Holdings Co. LLC (500,000 shares in 2015, 2014, and 2013) (a)(b)
10.00%
 $ 50

 $ 50

 $ 50

 
 $100.00
 
 
 
 
 
 
 
 
 
   Other non-current liabilities
 
 
 
 
 $ 50

 $ 50

 $ 50

 
 
 
   Total
 
 
 
 
 $ 1,440

 $ 1,440

 $ 1,147

 
 
(a) Distributions are payable quarterly and have a liquidation price of $100 per unit. The preferred membership interests are callable at the option of Entergy Holdings Company LLC after ten years under the terms of the LLC agreement.
(b) On February 16, 2012, Entergy Gulf States Louisiana, L.L.C. sold 500,000 units of Class A preferred, non-voting, membership interest units of Entergy Holdings Company LLC. to a non-affiliated third party. This preferred membership interest is reflected in the Parent & Other disclosure segment in ‘Other Non-Current Liabilities’ on the balance sheet.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 







UTILITY SELECTED DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UTILITY QUARTERLY FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
2015
2014
YTD %

 
 1Q

 2Q

 3Q

 4Q

 YTD

 1Q

 2Q

 3Q

 4Q

 YTD

CHANGE

GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 

As-Reported Net Income ($ millions)
223.4

199.7

360.0

313.7

1,096.9

201.1

207.8

310.9

109.3

829.1

32.3

As-Reported Non-Fuel O&M ($ millions)
584.3

642.5

663.1

670.6

2,560.6

526.2

584.5

617.1

666.7

2,394.6

6.9

Return on Average Invested Capital –
 
 
 
 
 
 
 
 
 
 
 
         As-Reported (%)(a)
5.9

5.9

6.0

7.0

7.0

6.3

6.3

6.1

5.8

5.8

20.7

Return on Average Common Equity –
 
 
 
 
 
 
 
 
 
 
 
         As-Reported (%)(a)
9.4

9.3

9.6

11.9

11.9

10.6

10.5

9.9

9.3

9.3

28.0

Debt to Capital Ratio (%)
54.4

54.0

53.7

52.6

52.6

54.5

54.2

54.0

54.9

54.9

(4.2
)
NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
Operational Earnings ($ millions)
223.4

199.7

360.0

313.7

1,096.9

203.4

211.3

311.2

110.8

836.7

31.1

Operational non-fuel O&M ($ millions)
584.3

642.5

663.1

670.6

2,560.6

522.3

579.0

616.4

664.3

2,382.0

7.5

Return on Average Invested Capital –
 
 
 
 
 
 
 
 
 
 
 
         Operational (%)(a)
5.9

5.9

6.0

7.0

7.0

6.5

6.4

6.1

5.9

5.9

18.6

Return on Average Common Equity –
 
 
 
 
 
 
 
 
 
 
 
         Operational (%)(a)
9.5

9.3

9.6

11.9

11.9

10.8

10.7

9.9

9.4

9.4

26.6

Debt to Capital Ratio,
     excluding securitization debt (%)
52.6

52.3

51.9

50.8

50.8

52.5

52.2

52.1

53.1

53.1

(4.3
)
Net Debt to Net Capital Ratio,
     excluding securitization debt (%)
50.7

50.5

49.8

49.2

49.2

51.0

51.4

50.9

50.6

50.6

(2.8
)
(a) Rolling twelve months. Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


UTILITY ANNUAL FINANCIAL METRICS
 
 
 
 
 
 
 
 
 2015
 2014
 2013
 2012
 2011
GAAP MEASURES
 
 
 
 
 
 
As-Reported Net Income ($ millions)
 
     1,096.9
     829.1
     828.9
     943.0
     1,106.5
As-Reported Non-Fuel O&M ($ millions)
 
     2,560.6
     2,394.6
     2,388.9
     2,190.4
     2,055.6
Return on Average Invested Capital – As-Reported (%)
     7.0
     5.8
     5.9
     6.9
     8.3
Return on Average Common Equity – As-Reported (%)
     11.9
     9.3
     9.6
     11.8
     14.8
Debt to Capital Ratio (%)
 
     52.6
     54.9
     53.8
     54.6
     53.7
NON-GAAP MEASURES
 
 
 
 
 
 
 Operational Earnings ($ millions)
 
     1,096.9
     836.7
     857.8
     980.1
     1,106.5
 Operational Non-Fuel O&M ($ millions)
 
     2,560.6
     2,382.0
     2,324.9
     2,152.2
     2,055.6
 Return on Average Invested Capital – Operational (%)
     7.0
     5.9
     6.1
     7.1
     8.3
 Return on Average Common Equity – Operational (%)
     11.9
     9.4
     10.0
     12.3
     14.8
 Debt to Capital Ratio, excluding securitization debt (%)
     50.8
     53.1
     51.6
     52.2
     50.6
 Net Debt to Net Capital Ratio, excluding securitization debt (%)
     49.2
     50.6
     50.2
     51.1
     49.5
 
 
 
 
 
 
 


UTILITY SECURITIES RATINGS (OUTLOOK)
 
 
 
 
 
 
 
 
 
 
 
MORTGAGE BONDS
 
 
 
PREFERRED STOCK
As of June 2016
 
 MOODY’S
 
 S&P
 
 
 
 MOODY’S
 
 S&P
Entergy Arkansas, Inc.
 
A2 (stable)
 
A- (positive)
 
 
 
Ba1
 
BB+
Entergy Louisiana, LLC
 
A2 (stable)
 
A- (positive)
 
 
 
Baa3
 
BB+
Entergy Mississippi, Inc.
 
A3 (stable)
 
A- (positive)
 
 
 
Ba1
 
BB+
Entergy New Orleans, Inc.
 
Baa2 (stable)
 
A- (positive)
 
 
 
B1
 
BB+
Entergy Texas, Inc.
 
Baa1 (stable)
 
A- (positive)
 
 
 
n/a
 
n/a
System Energy Resources, Inc.
 
Baa1 (stable)
 
A- (positive)
 
 
 
n/a
 
n/a







UTILITY HISTORICAL CAPITAL EXPENDITURES(a)
 
 
 
 
 
 
($ millions)
 
 2015
 2014
 2013
 2012
 2011
Entergy Arkansas
 
         625
            535
            489
            615
            383
Entergy Louisiana
 
         845
            758
            978
         1,071
            953
Entergy Mississippi
 
         236
            180
            168
            378
            166
Entergy New Orleans
 
           86
              62
              89
              86
              57
Entergy Texas
 
         320
            196
            182
            181
            173
System Energy Resources
 
           70
              64
              52
            450
            235
 Other(b)
 
           36
              33
              69
              60
              79
Total
 
      2,218
         1,828
         2,027
         2,841
         2,046
(a) Historical capital expenditures include storm capital spending.
 
 
 
 
 
 
(b) Corresponds to Entergy Services, Inc., Entergy Operations, Inc., and System Fuels, Inc.
 





UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015 UTILITY CONSOLIDATING INCOME STATEMENT (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 OTHER/

 
In thousands, for the year ending December 31, 2014.
  EAI

ELL(a)

  EMI

ENOI(a)

 ETI

  SERI

ELIMINATIONS(b)

 UTILITY

OPERATING REVENUES:
 

 

 

 

 
 

 

 
Electric
$
2,253,564

$
4,361,524

$
1,396,985

$
584,322

$
1,707,203

$
632,405

$
(1,627,263
)
$
9,308,740

Natural gas

55,622


87,124




142,746

     Total
2,253,564

4,417,146

1,396,985

671,446

1,707,203

632,405

(1,627,263
)
9,451,486

OPERATING EXPENSES:
 
 
 
 
 
 
 
 
Operation and maintenance:
 
 
 
 
 
 
 
 
  Fuel, fuel-related expenses, and gas
   purchased for resale
535,919

850,869

291,666

96,307

277,810

89,598

(5,047
)
2,137,122

  Purchased power
380,081

1,129,910

389,950

277,851

709,947


(1,577,564
)
1,310,175

  Nuclear refueling outage expenses
51,411

44,480




21,654


117,545

  Other operation and maintenance
734,118

997,546

261,255

119,087

254,731

156,552

(80,214
)
2,443,075

Asset write-offs, impairments, and related charges(c)




23,472


45,200

68,672

Decommissioning
50,414

43,445




47,993

892

142,744

Taxes other than income taxes
99,926

167,966

94,152

46,660

72,945

27,281

(1,191
)
507,739

Depreciation and amortization
246,897

437,036

129,029

43,205

102,410

143,133

(5,622
)
1,096,088

Other regulatory charges (credits) – net
(24,608
)
27,562

19,027

3,366

82,243

(39,434
)
107,148

175,304

     Total
2,074,158

3,698,814

1,185,079

586,476

1,523,558

446,777

(1,516,398
)
7,998,464

OPERATING INCOME
179,406

718,332

211,906

84,970

183,645

185,628

(110,865
)
1,453,022

OTHER INCOME:
 
 
 
 
 
 
 
 
Allowance for equity funds used during construction
14,227

19,192

3,095

1,404

5,678

8,494

(182
)
51,908

Interest and investment income
22,382

150,168

195

73

684

14,437

3,607

191,546

Miscellaneous – net
(3,385
)
(13,190
)
(4,418
)
339

(798
)
(876
)
261

(22,067
)
     Total
33,224

156,170

(1,128
)
1,816

5,564

22,055

3,686

221,387

INTEREST EXPENSE:
 
 
 
 
 
 
 
 
Interest expense
105,622

259,894

57,842

17,312

86,024

45,532

(2,467
)
569,759

Allowance for borrowed funds used during construction
(7,805
)
(10,702
)
(1,644
)
(641
)
(3,690
)
(2,244
)
99

(26,627
)
     Total
97,817

249,192

56,198

16,671

82,334

43,288

(2,368
)
543,132

INCOME BEFORE INCOME TAXES
114,813

625,310

154,580

70,115

106,875

164,395

(104,811
)
1,131,277

Income taxes
40,541

178,671

61,872

25,190

37,250

53,077

(379,840
)
16,761

CONSOLIDATED NET INCOME
74,272

446,639

92,708

44,925

69,625

111,318

275,029

1,114,516

Preferred dividend requirements and other
6,873

5,737

2,828

965



1,238

17,641

EARNINGS APPLICABLE TO
 
 
 
 
 
 
 
 
COMMON STOCK/EQUITY
$
67,399

$
440,902

$
89,880

$
43,960

$
69,625

$
111,318

$
273,791

$
1,096,875

(a) On Sept. 1, 2015, ELL transferred its Algiers assets to ENOI. The effect of the Algiers transfer has been retrospectively applied to ENOI's but not ELL's financial data presented in this report.
(b) Reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, Inc., Entergy Operations, Inc. and the elimination of intercompany transactions and the effect of the Algiers asset transfer.
(c) ELL asset write-offs were recorded in "Other operation and maintenance."
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 OTHER/

 
In thousands, as of December 31, 2015.
  EAI

  ELL

  EMI

  ENOI

 ETI

  SERI

ELIMINATIONS(a) 

 UTILITY

ASSETS
 

 

 

 

 

 

 
 

CURRENT ASSETS:
 

 

 

 

 

 

 
 

Cash and cash equivalents:
 
   

   

   

   

   

 
 

  Cash
$
9,066

$
348

$
1,426

$
1,068

$
2,153

$
8,681

$
34,356

$
57,098

  Temporary cash investments
69

34,754

144,179

87,808

29

221,980

73,151

561,970

     Total cash and cash equivalents
9,135

35,102

145,605

88,876

2,182

230,661

107,507

619,068

Securitization recovery trust account
4,204



4,620

38,161

 
(46,985
)

Accounts receivable:
 
 
 
 
 
 
 
 
  Customer
108,636

179,051

56,685

34,627

61,870



440,869

  Allowance for doubtful accounts
(34,226
)
(4,209
)
(718
)
(268
)
(474
)


(39,895
)
  Associated companies
32,987

94,418

34,964

23,248

42,279

93,724

(290,672
)
30,948

  Other
84,216

56,793

8,276

3,753

11,054

4,574

781

169,447

  Accrued unbilled revenues
73,583

143,079

47,284

17,799

40,195



321,940

     Total account receivable
265,196

469,132

146,491

79,159

154,924

98,298

(289,891
)
923,309

Fuel inventory – at average cost
62,689

48,045

51,273

1,912

46,942



210,861

Materials and supplies – at average cost
169,919

282,688

39,491

13,244

34,994

87,366


627,702

Deferred nuclear refueling outage costs
67,834

66,984




5,605


140,423

Prepayments and other
45,436

28,294

5,184

10,263

17,975

11,282

22,662

141,096

     Total
624,413

930,245

388,044

198,074

295,178

433,212

(206,707
)
2,662,459

OTHER PROPERTY AND INVESTMENTS:
 
 
 
 
 
 
 
 
Investment in affiliates – at equity

1,390,587



620


(421
)
1,390,786

Decommissioning trust funds
771,313

1,042,293




701,460


2,515,066

Non-utility property – at cost (less accumulated depreciation)

206,293

4,625

1,016

376


687

212,997

Storm reserve escrow account

290,422


81,002



(371,424
)

Escrow accounts


41,726




(41,726
)

Other
12,895

14,776



20,186


412,465

460,322

     Total
784,208

2,944,371

46,351

82,018

21,182

701,460

(419
)
4,579,171

PROPERTY, PLANT AND EQUIPMENT
 
 
 
 
 
 
 
 
Electric
9,536,802

17,629,077

4,083,933

1,051,239

3,923,100

4,253,949

601,898

41,079,998

Property under capital lease
844

341,514

2,942



575,027

32,138

952,465

Natural gas

159,252


232,780




392,032

Construction work in progress
388,075

420,874

114,067

29,027

210,964

92,546

71,175

1,326,728

Nuclear fuel
286,341

386,524




183,706

2

856,573

     Total property, plant and equipment
10,212,062

18,937,241

4,200,942

1,313,046

4,134,064

5,105,228

705,213

44,607,796

Less – accumulated depreciation and amortization
4,349,809

8,302,774

1,534,522

648,081

1,477,529

2,961,842

379,817

19,654,374

     Property, plant and equipment – net
5,862,253

10,634,467

2,666,420

664,965

2,656,535

2,143,386

325,396

24,953,422

DEFERRED DEBITS AND OTHER ASSETS:
 
 
 
 
 
 
 
 
Regulatory assets:
 
 
 
 
 
 
 
 
  Regulatory asset for income taxes - net
61,438

478,243

45,790


107,499

98,230

(15,672
)
775,528

  Other regulatory assets (includes
   securitization property
 
 
 
 
 
 
 
 
   of $714,044 as of December 31, 2015)
1,333,773

1,217,874

328,681

265,322

812,862

347,830

398,454

4,704,796

  Deferred fuel costs
66,700

168,122


4,080




238,902

Long-term receivables - associated companies




1,073


(1,073
)

Goodwill






374,099

374,099






Accumulated deferred income taxes






15,888

15,888

Other
14,989

14,125

2,121

685

4,253

4,757

11,711

52,641

Total
1,476,900

1,878,364

376,592

270,087

925,687

450,817

783,407

6,161,854

TOTAL ASSETS
$
8,747,774

$
16,387,447

$
3,477,407

$
1,215,144

$
3,898,582

$
3,728,875

$
901,677

$
38,356,906

(a) Reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, Inc., Entergy Operations, Inc. and the elimination of intercompany transactions.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015 UTILITY CONSOLIDATING BALANCE SHEET (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 OTHER/

 
In thousands, as of December 31, 2015.
  EAI

  ELL

  EMI

  ENOI

 ETI

  SERI

ELIMINATIONS(a) 

 UTILITY

LIABILITIES AND EQUITY
 

 

 

 

 

 

 
 

CURRENT LIABILITIES:
 
 
 
 
 
 
 
 
Currently maturing long-term debt
$
55,000

$
29,372

$
125,000

$

$

$
2

$

$
209,374

Notes payable and commercial paper:
 
 
 
 
 
 
 
 
  Due to associated companies



4,973



(4,973
)

  Other
11,690

60,356






72,047

Accounts payable:
 
 
 
 
 
 
 
 
  Associated companies
110,464

165,419

38,496

37,467

106,065

7,391

(440,183
)
25,119

  Other
177,758

276,280

51,502

21,471

87,421

34,010

228,953

877,395

Customer deposits
118,340

146,555

81,583

28,392

44,537



419,407

Taxes accrued

125,142

43,461


5,333


(14,286
)
159,650

Interest accrued
19,883

74,380

20,831

4,909

29,206

14,183


163,391

Deferred fuel costs
8,853

65,234

107,754

29,021

25,124



235,986

Obligations under capital leases






2,709

2,709

Pension and other postretirement liabilities






53,143

53,143

Other
45,219

79,982

22,754

6,216

10,363

1,926

(16,152
)
150,308

     Total
547,207

1,022,720

491,381

132,449

308,049

57,512

(190,789
)
2,368,529

 
 
 
 
 
 
 
 
 
NON-CURRENT LIABILITIES:
 
 
 
 
 
 
 
 
Accumulated deferred income taxes and taxes accrued
1,982,812

2,506,956

810,635

214,061

1,006,834

1,019,075

(80,586
)
7,459,787

Accumulated deferred investment tax credits
36,506

131,760

4,645

753

13,835

45,451

1,350

234,300

Obligations under capital leases






27,001

27,001

Regulatory liability for income taxes - net

2,473


13,199



(15,672
)

Other regulatory liabilities
242,913

818,623



6,396

337,424

9,542

1,414,898

Decommissioning and asset retirement cost liabilities
872,346

1,027,862

8,252

2,687

6,124

803,405


2,720,676

Accumulated provisions
5,552

310,282

48,062

84,187

9,319


964

458,366

Pension and other postretirement liabilities
459,153

833,185

120,217

43,609

77,517

112,264

777,073

2,423,018

Long-term debt (includes securitization bonds
 
 
 
 
 
 
 
 
  of $774,696 as of December 31, 2015)
2,574,839

4,806,790

920,085

317,380

1,451,967

572,665


10,643,726

Long-term payables - associated companies

1,073


20,527



(21,600
)

Gas system rebuild insurance proceeds



12,788



(12,788
)

Other
18,438

188,411

11,699

3,692

57,085


457,360

736,685

     Total
6,192,559

10,627,415

1,923,595

712,883

2,629,077

2,890,284

1,142,644

26,118,457

Commitments and Contingencies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subsidiaries' preferred stock without sinking fund
116,350


50,381

19,780



107,425

293,936

 
 
 
 
 
 
 
 
 
EQUITY:
 
 
 
 
 
 
 
 
Common stock or members’ equity
470

4,793,724

199,326

33,744

49,452

719,350

(3,704,798
)
2,091,268

Paid-in capital/capital stock expense and other
588,493


(690
)
123,794

481,994


1,355,068

2,548,659

Retained earnings
1,302,695


813,414

192,494

430,010

61,729

2,384,986

5,185,328

Accumulated other comprehensive income (loss)

(56,412
)




(72,859
)
(129,271
)
Less – treasury stock, at cost






120,000

120,000






     Total
1,891,658

4,737,312

1,012,050

350,032

961,456

781,079

(157,603
)
9,575,984

Preferred membership interests without sinking fund
 
 
 
 
 
 
 

     Total
1,891,658

4,737,312

1,012,050

350,032

961,456

781,079

(157,603
)
9,575,984

 
 
 
 
 
 
 
 
 
TOTAL LIABILITIES AND EQUITY
$
8,747,774

$
16,387,447

$
3,477,407

$
1,215,144

$
3,898,582

$
3,728,875

$
901,677

$
38,356,906

(a) Reflects other Entergy subsidiaries, including Entergy Utility Holding Company, LLC, Entergy Services, Inc., Entergy Operations, Inc. and the elimination of intercompany transactions.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
UTILITY SELECTED ANNUAL FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ENTERGY ARKANSAS, INC.
 
 
 
 
 
As-Reported Earnings ($ millions)
67.4

114.5

155.1

145.5

158.0

Less Special Items ($ millions)

(1.4
)
(2.8
)
(13.0
)

Operational Earnings ($ millions)
67.4

115.9

157.9

158.5

158.0

GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – As-Reported (%)
3.6

6.5

9.4

9.6

11.1

Return on Average Invested Capital – As-Reported (%)
2.9

4.0

5.4

5.5

6.2

Cash Flow Interest Coverage (# times)
5.9

5.5

5.6

7.3

7.9

Debt to Capital Ratio (%)
56.8

58.1

56.4

55.8

54.8

Total Debt ($ millions)
2,642

2,689

2,380

2,139

1,894

Total Preferred ($ millions)
116

116

116

116

116

Total Equity ($ millions)
1,892

1,824

1,720

1,580

1,444

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – Operational (%)
3.6

6.5

9.6

10.5

11.1

Return on Average Invested Capital – Operational (%)
2.9

4.1

5.6

6.1

6.4

Total Debt, excluding securitization debt ($ millions)
2,581

2,615

2,293

2,040

1,783

Debt to Capital Ratio, excluding securitization debt (%)
56.2

57.4

55.5

54.6

53.3

Net Debt to Net Capital Ratio, excluding securitization debt (%)
56.1

55.3

54.1

54.2

53.0

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY LOUISIANA, LLC
 
 
 
 
 
As-Reported Earnings ($ millions)
440.9

438.2

406.3

432.3

667.8

Less Special Items ($ millions)

(3.5
)
(9.1
)
(11.2
)

Operational Earnings ($ millions)
440.9

441.7

415.4

443.5

667.8

GAAP MEASURES
 
 
 
 
 
Return on Average Members’ Equity – As-Reported (%)
9.8

10.2

9.4

10.6

18.2

Return on Average Invested Capital – As-Reported (%)
6.3

6.4

6.1

6.8

10.7

Cash Flow Interest Coverage (# times)
5.6

8.6

6.0

5.1

6.4

Debt to Capital Ratio (%)
50.8

53.4

51.5

49.5

49.4

Total Debt ($ millions)
4,897

4,980

4,706

4,357

3,804

Total Preferred ($ millions)

110

110

110

110

Total Equity ($ millions)
4,794

4,316

4,364

4,455

3,898

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Members’ Equity – Operational (%)
9.8

10.3

9.6

10.9

18.2

Return on Average Invested Capital – Operational (%)
6.4

6.5

6.3

7.1

10.8

Total Debt, excluding securitization debt ($ millions)
4,776

4,839

4,545

4,178

3,600

Debt to Capital Ratio, excluding securitization debt (%)
50.2

52.7

50.6

48.4

48.0

Net Debt to Net Capital Ratio, excluding securitization debt (%)
50.0

51.0

49.8

48.0

47.8

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
 
 
 
 
 
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ENTERGY MISSISSIPPI, INC.
 
 
 
 

 

As-Reported Earnings ($ millions)
89.9

72.0

79.3

43.9

105.9

Less Special Items ($ millions)

(1.2
)
(5.4
)
(7.5
)

Operational Earnings ($ millions)
89.9

73.2

84.7

51.4

105.9

GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – As-Reported (%)
9.1

7.5

8.7

5.1

13.5

Return on Average Invested Capital – As-Reported (%)
6.1

5.3

5.7

4.2

8.1

Cash Flow Interest Coverage (# times)
7.6

6.4

4.8

4.7

3.1

Debt to Capital Ratio (%)
49.7

50.9

51.0

55.5

50.8

Total Debt ($ millions)
1,048

1,048

1,044

1,161

915

Total Preferred ($ millions)
50

50

50

50

50

Total Equity ($ millions)
1,012

962

952

880

836

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – Operational (%)
9.1

7.7

9.3

6.0

13.5

Return on Average Invested Capital – Operational (%)
6.1

5.4

5.9

4.5

8.1

Net Debt to Net Capital Ratio (%)
45.9

49.3

51.0

54.4

50.8

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
ENTERGY NEW ORLEANS, INC.
 
 
 
 
 
As-Reported Earnings ($ millions)
44.0

30.0

11.6

18.9

36.2

Less Special Items ($ millions)

(0.4
)
(2.9
)
(0.9
)

Operational Earnings ($ millions)
44.0

30.4

14.5

19.8

36.2

GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – As-Reported (%)
15.2

13.8

5.8

10.0

19.6

Return on Average Invested Capital – As-Reported (%)
8.7

7.6

4.5

6.2

10.4

Cash Flow Interest Coverage (# times)
7.2

6.6

6.7

5.5

4.7

Debt to Capital Ratio (%)
48.1

55.1

56.9

55.2

53.2

Total Debt ($ millions)
343

304

298

266

229

Total Preferred ($ millions)
20

20

20

20

20

Total Equity ($ millions)
350

228

206

196

181

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – Operational (%)
15.2

14.0

7.2

10.5

19.6

Return on Average Invested Capital – Operational (%)
9.5

7.7

5.0

6.4

10.4

  
30.0

51.3

53.9

54.4

52.1

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
ENTERGY TEXAS, INC.
 
 
 
 
 
As-Reported Net Income ($ millions)
69.6

74.8

57.9

42.0

80.8

Less Special Items ($ millions)

(1.1
)
(8.8
)
(5.0
)

Operational Net Income ($ millions)
69.6

75.9

66.7

46.6

80.8

GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – As-Reported (%)
7.5

8.4

6.6

4.8

9.4

Return on Average Invested Capital – As-Reported (%)
5.0

5.3

4.6

4.0

5.4

Cash Flow Interest Coverage (# times)
4.5

4.7

3.7

3.9

3.6

Debt to Capital Ratio (%)
60.2

62.2

63.5

65.2

64.9

Total Debt ($ millions)
1,452

1,469

1,545

1,604

1,661

Total Preferred ($ millions)





Total Equity ($ millions)
961

892

887

854

899

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – Operational (%)
7.5

8.5

7.7

5.3

9.4

Return on Average Invested Capital – Operational (%)
6.5

7.1

6.8

5.8

7.8

Total Debt, excluding securitization debt ($ millions)
       955

       907

       921

       919

       918

Debt to Capital Ratio, excluding securitization debt (%)
       49.8

       50.4

       50.9

       51.8

       50.5

Net Debt to Net Capital Ratio, excluding securitization debt (%)
       49.8

       49.6

       49.6

       50.1

       48.7

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 







UTILITY FINANCIAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
UTILITY SELECTED ANNUAL FINANCIAL METRICS (CONTINUED)
 
 
 
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

SYSTEM ENERGY RESOURCES, INC.
 
 
 
 
 
As-Reported Net Income ($ millions)
111.3

96.3

113.7

111.9

64.2

Less Special Items ($ millions)





Operational Net Income ($ millions)
111.3

96.3

113.7

111.9

64.2

GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – As-Reported (%)
13.5

11.0

13.3

13.7

8.0

Return on Average Invested Capital – As-Reported (%)
9.3

8.2

8.3

8.5

5.6

Cash Flow Interest Coverage (# times)
12.7

8.0

8.3

11.7

11.4

Debt to Capital Ratio (%)
42.3

45.5

46.2

49.5

47.9

Total Debt ($ millions)
573

727

751

815

736

Total Preferred ($ millions)





Total Equity ($ millions)
781

871

876

833

801

NON-GAAP MEASURES
 
 
 
 
 
Return on Average Common Equity – Operational (%)
13.5

11.0

13.3

13.7

8.0

Return on Average Invested Capital – Operational (%)
9.3

8.2

8.3

8.5

5.6

Net Debt to Net Capital Ratio (%)
30.5

36.7

41.6

46.8

40.8

Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 







UTILITY SECURITIES DETAIL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UTILITY LONG-TERM DEBT AND PREFERRED STOCK
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY ARKANSAS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
MATURITY
FIRST CALL
CURRENT OR
AS OF DECEMBER 31,
CUSIP
 
TYPE*
RATE
DATE
DATE
FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
29364DAQ3
3.75% Series
M
3.75%
02/21
Now
 MW (T + .20%)
350

350

29364DAR1
3.05% Series
M
3.05%
06/23
Now
 MW (T + .20%)
250

250

29364DAS9
3.7% Series
M
3.70%
06/24
Now
MW (T + .15%)
375

375

29364DAL4
5.66% Series
 M
5.66%
02/25
 Now
 MW (T + .20%)
175

175

29364DAJ9
5.9% Series
 M
5.9%
06/33
 Now
100%
100

100

29364DAK6
6.38% Series
 M
6.38%
11/34
 Now
100%
60

60

29364D779
5.75% Series
M
5.75%
11/40
11/1/2015
100%
225

225

29364DAT7
4.95% Series
M
4.95%
12/44
Now
MW (T + .30%)
250

250

29364D761
4.90% Series
M
4.9%
12/52
12/1/2017
100%
200

200

472712ES3
1.55% Series – Jefferson County
 G(a,d)
1.55%
2017
Non-Call Life
 
55

55

453424BT9
2.38% Series – Independence County
 G(a,d)
2.38%
2021
Non-Call Life
 
45

45

29364D753
4.75% Series
M
4.75%
06/63
6/1/18
100%
125

125

 
Total bonds
 
 
 
 
 
 
2,210

2,210

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
 
3.23% Series J – Variable Interest Entity Note Payable
 
3.23%
07/16
 
 
 
55

55

 
2.62% Series K – Variable Interest Entity Note Payable
 
2.62%
12/17
 
 
 
60

60

 
3.65% Series L – Variable Interest Entity Note Payable
 
3.65%
07/21
 
 
 
90

90

 29365YAA1
2.30% Series Senior Secured – Securitization Bond
 
2.30%
08/21
 
 
 
63

76

 
Long-Term United States Department of Energy Obligation(b)
 
 
 
 
 
181

181

 
Unamortized Premium and Discount – Net
 
 
 
 
 
 
(3
)
(3
)
 
Unamortized Debt Issuance Costs
 
 
 
 
 
 
(29
)
(30
)
 
Other
 
 
 
 
 
 
2

2

TOTAL LONG-TERM DEBT
 
 
 
 
 
 
2,630

2,641

Less Amount Due Within One Year
 
 
 
 
 
 
55


Long-Term Debt Excluding Amount Due Within One Year
 
 
 
$
2,575

$
2,641

Fair Value of Long-Term Debt(c)
 
 
 
 
 
 
$
2,498

$
2,518

 *M = Mortgage Bond; G = Governmental Bond
 
 
 
 
 
 Weighted-average annualized coupon rate
 
 
 
 
 
 
4.3%

4.2%

(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee,plus accrued interest, in long-term debt.
(c) The fair value excludes long-term DOE obligations of $181 million at Entergy Arkansas and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(d) The bonds are secured by a series of collateral first mortgage bonds.
 
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 









 
 
 
 
 
 
 
 
 
 
 
 
 SHARES
 
 
 
 
 
 
 
AUTHORIZED AND OUTSTANDING
 
CALL PRICE PER SHARE
PREFERRED STOCK:
 
AS OF DECEMBER 31,
AS OF DECEMBER 31,
 
AS OF DECEMBER 31,
CUSIP
 
RATE
 2015
 2014
 2015
 2014
 
 2015
 
Without sinking fund:
 
 
 
 
 
 
 
 
Cumulative, $100 par value:
 
 
 
 
 
 
 
 29364D209
4.32% Series
4.32%
              70,000
              70,000
 $ 7
 $ 7
 
 $103.65
 29364D506
4.72% Series
4.72%
              93,500
              93,500
                   9
                  9
 
       107.00
 29364D308
4.56% Series
4.56%
              75,000
              75,000
                   8
                  8
 
       102.83
 29364D407
4.56% 1965 Series
4.56%
              75,000
              75,000
                   8
                  8
 
       102.50
 29364D605
6.08% Series
6.08%
            100,000
            100,000
                 10
                10
 
       102.83
 
Cumulative, $25 par value:
 
 
 
 
 
 
 
 29364D787
6.45% Series(a)
6.45%
         3,000,000
         3,000,000
                 75
                75
 
       25
 
 Total without sinking fund
 
         3,413,500
         3,413,500
 $ 116
 $ 116
 
 
(a) Series is callable at par.
 
 
 
 
Totals may not foot due to rounding.
 
 
 
 





UTILITY LONG-TERM DEBT AND PREFERRED STOCK
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY LOUISIANA, LLC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
 MATURITY
 FIRST CALL
 CURRENT OR
 AS OF DECEMBER 31,
CUSIP
 
 TYPE*
 RATE
 DATE
 DATE
 FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
29364WAJ7
6.50% Series
M
6.5%
09/18
 Now
 MW (T + .40%)
$
300

$
300

29365PAN2
6.00% Series
M
6.0%
 05/18
Now
 MW (T + .40%)
375

375

29365PAQ5
3.95% Series
M
3.95%
10/20
Now
 MW (T + .25%)
250

250

29364WAN8
4.8% Series
M
4.8%
 05/21
Now
 MW (T + .25%)
200

200

29364WAR9
3.30% Series
M
3.3%
12/22
Now
MW (T + .25%)
200

200

29364WAS7
4.05% Series
 M
4.05%
09/23
Now
MW (T + .20%)
325

325

29365PAP7
5.59% Series
M
5.59%
10/24
Now
 MW (T + .40%)
300

300

29364WAK4
5.40% Series
 M
5.4%
11/24
 Now
 MW (T + .35%)
400

400

29365PAR3
3.78% Series
M
3.78%
04/25
Now
 MW (T + .20%)
110

110

29364WAU2
3.78% Series
M
3.78%
04/25
Now
 MW (T + .20%)
190

190

29364WAM0
4.44% Series
M
4.44%
01/26
Now
 MW (T + .30%)
250

250

29364LAL6
6.2% Series
 M
6.2%
 07/33
Now
100%
240

240

29364LAT9
6.18% Series
M
6.18%
 03/35
Now
100%
85

85

29364W306
6.0% Series
M
6.0%
03/40
3/15/15
100%
118

150

29364W405
5.875% Series
M
5.875%
06/41
11/23/15
100%
150

150

29364WAT5
5.0% Series
M
5.0%
07/44
Now
 MW (T + .25%)
170

170

29364WAV0
4.95% Series
M
4.95%
01/45
Now
 MW (T + .30%)
250

250

29364W504
5.25% Series
M
5.25%
07/52
7/1/17
100%
200

200

29364W603
4.7% Series
M
4.7%
06/63
6/1/18
100%
100

100

546398K23
2.875% Series – Louisiana Public Facilities Authority
 G(a,c)
2.875%
2015
 
 
 

32

546398J82
5.0% Series – Louisiana Public Facilities Authority
 G(a,c)
5.0%
2030
12/1/15
100%
115

115

546398J90
5.0% Series – Louisiana Public Facilities Authority
 G(a,c)
5.0%
2028
9/1/15
100%
84

84

 
Total bonds
 
 
 
 
 
 
4,412

4,476

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
 
3.30% Series F – Variable Interest Entity Note Payable
 
3.30%
03/16
 
 
 
20

20

 
3.25% Series G – Variable Interest Entity Note Payable
 
3.25%
07/17
 
 
 
25

25

 
3.25% Series Q – Variable Interest Entity Note Payable
 
3.25%
07/17
 
 
 
75

75

 
3.38% Series R – Variable Interest Entity Note Payable
 
3.38%
08/20
 
 
 
70

70

 
3.92% Series H – Variable Interest Entity Note Payable
 
3.92%
02/21
 
 
 
40

40

 
Credit Facility – weighted average rate 1.38%
 
1.38%
06/16
 
 
 
1


 29366AAA2
2.04% Series Senior Secured - Securitization Bond
 
2.04%
06/21
 
 
 
123

143

 
Waterford 3 Lease Obligation 7.45%
 
7.45%
 
 
 
 
109

128

 
Unamortized Premium and Discount – Net
 
 
 
 
 
 
(5
)
(4
)





 
Unamortized Debt Issuance Costs
 
 
 
 
 
 
(40
)
(45
)
 
Other
 
 
 
 
 
 
7

4

TOTAL LONG-TERM DEBT
 
 
 
 
 
 
4,836

4,934

 Less Amount Due Within One Year
 
 
 
 
 
 
29

51

 Long-Term Debt Excluding Amount Due Within One Year
 
 
 
$
4,807

$
4,883

 Fair Value of Long-Term Debt(b)
 
 
 
 
 
 
$
5,019

$
5,191

 *M = Mortgage Bond; G = Governmental Bond
 
 
 
 
 
 
 Weighted-average annualized coupon rate
 
 
 
 
 
 
4.9%

4.9%

(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value excludes lease obligations of $109 million at Entergy Louisiana, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(c) The bonds are secured by a series of collateral first mortgage bonds.
Totals may not foot due to rounding.
Certain prior year data has been reclassified to conform with current year presentation.




 
 
 
UNITS
 
 
 
 
 
 
 
AUTHORIZED AND OUTSTANDING
 
CALL PRICE PER UNIT
 
PREFERRED MEMBERSHIP INTERESTS:
 
 AS OF DECEMBER 31,
 AS OF DECEMBER 31,
 
 AS OF DECEMBER 31,

CUSIP
 
RATE
 2015

 2014

 2015

 2014
 
 2015

 
Without sinking fund:
 
 
 
 
 
 
 
 
Cumulative, $100 liquidation value:
 
 
 
 
 
 
 
29365P201
 8.25% Series(a)
8.25%

100,000


 $ 10
 
$

293649307
 6.95% Series(a)
6.95%

1,000,000


              100
 

 
 Total without sinking fund
 

1,100,000


 $ 110
 

(a) In September 2015, Entergy Louisiana redeemed its $100 million of 6.95% Series preferred membership interests and Entergy Gulf States Louisiana redeemed its $10 million of 8.25% Series preferred membership interests as part of a multi-step process to effectuate the Entergy Louisiana and Entergy Gulf States Louisiana business combination.







UTILITY LONG-TERM DEBT AND PREFERRED STOCK
 
 
 
 
 
 
 
 
 
 
 
ENTERGY MISSISSIPPI, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
 MATURITY
 FIRST CALL
 CURRENT OR
AS OF DECEMBER 31,
CUSIP
 
 TYPE*
 RATE
 DATE
 DATE
 FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
29364NAQ1
3.25% Series
M
3.25%
 06/16
Now
 MW (T + .25%)
              125

              125

29364NAP3
6.64% Series
M
6.64%
 07/19
 Now
 MW (T + .50%)
              150

              150

29364NAR9
3.10% Series
M
3.10%
07/23
Now
MW (T + .25 bps)
              250

              250

29364NAS7
3.75% Series
M
3.75%
07/24
Now
MW (T + .15 bps)
              100

              100

29364N876
6.0% Series
 M
6.00%
 11/32
 Now
100%
                75

                75

29364NAL2
6.25% Series
 M
6.25%
 04/34
 Now
 MW (T + .25%)
              100

              100

29364N843
6.20% Series
M
6.20%
04/40
4/15/15
100%
                80

                80

29364N835
6.00% Series
M
6.00%
05/51
5/1/16
100%
              150

              150

453424BS1
4.90% Series – Independence County
 G(a,c)
4.90%
2022
6/2/14
101%
                30

                30

 
Total bonds
 
 
 
 
 
 
           1,060

           1,060

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
 
Unamortized Premium and Discount – Net
 
 
 
(1
)
(1
)
 
Unamortized Debt Issuance Cost
 
 
 
(14
)
(15
)
TOTAL LONG-TERM DEBT
 
 
 
 
 
 
           1,045

           1,044

 Less Amount Due Within One Year
 
 
 
 
 
 
              125

0

 Long-Term Debt Excluding Amount Due Within One Year
 
 
 
 
 $ 920

 $ 1,044

 Fair Value of Long-Term Debt(b)
 
 
 
 
 
 
 $ 1,087

 $ 1,103

 *M = Mortgage Bond; G = Governmental Bond
 
 
 
 
 
 Weighted-average annualized coupon rate
 
 
 
 
 
 
4.9%

4.9%

(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy
 (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
(c) The bonds are secured by a series of collateral first mortgage bonds.
Totals may not foot due to rounding.
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 



 
 
 
 SHARES
 
 
 
 
 
 
 
AUTHORIZED AND OUTSTANDING
 
 
 CALL PRICE PER SHARE
 
PREFERRED STOCK:
 
 AS OF DECEMBER 31,
 AS OF DECEMBER 31,
 
 AS OF DECEMBER 31,

CUSIP
 
RATE
 2015

 2014

 2015

 2014

 
 2015

 
 
 
 
 
 
 
 
 
 
Without sinking fund:
 
 
 
 
 
 
 
 
Cumulative, $100 par value:
 
 
 
 
 
 
 
29364N207
4.36% Series
4.36%
               59,920

               59,920

 $ 6

 $ 6

 
 $103.86

29364N306
4.56% Series
4.56%
43,887

43,887

4

4

 
107.00

29364N405
4.92% Series
4.92%
100,000

100,000

10

10

 
102.88

 
Cumulative, $25 par value:
 
 
 
 
 
 
 
29364N850
6.25% Series
6.25%
1,200,000

1,200,000

30

30

 

$25

 
 Total without sinking fund
 
 $ 1,403,807

 $ 1,403,807

 $ 50

 $ 50

 
 
 
 
 
 
 
 
 
 
 






ENTERGY NEW ORLEANS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
MATURITY
 FIRST CALL
 CURRENT OR
 AS OF DECEMBER 31,
CUSIP
 
 TYPE*
 RATE
 DATE
 DATE
 FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
 29364PAM5
5.10% Series
M
5.1%
12/20
Now
 MW (T + .35%)
25

25

 29364PAN3
3.9% Series
M
3.9%
07/23
Now
MW (T + .30%)
100

100

 29364PAK9
5.6% Series
M
5.6%
 09/24
Now
100%
33

33

 29364PAJ2
5.65% Series
M
5.65%
 09/29
Now
100%
38

38

 29364P509
5.0% Series
M
5.0%
12/52
12/1/2017
100%
30

30

 
 
 
 
 
 
 
 
 
 
Total bonds
 
 
 
 
 
 
226

226

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
29277VAA4
2.67% Series Senior Secured - Securitization Bond
 
2.7%
06/24
 
 
 
99


 
Payable to Entergy Louisiana
 
 
11/35
 
 
 
26

82

 
Unamortized Premium and Discount – Net
 
 
 
 
 
 
(3
)
(3
)
 
Unamortized Debt Issuance Cost
 
 
 
 
 
 
(7
)
(5
)
TOTAL LONG-TERM DEBT
 
 
 
 
343

303

Less Amount Due Within One Year
 
 
 
 
 
 
5


Long-Term Debt Excluding Amount Due Within One Year
 
 
 
$
338

$
303

Fair Value of Long-Term Debt(a)  
 
 
 
 
 
 
$
351

$
309

*M = Mortgage; G = Governmental
 
 
 
 
 
 
 
 
Weighted-average annualized coupon rate
 
 
 
 
 
 
4.1%

4.7%

(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy
 (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.


 
 
 
 SHARES
 
 
 
 
 
 
 
AUTHORIZED AND OUTSTANDING
 
 
 CALL PRICE PER SHARE
 
PREFERRED STOCK:
 
 AS OF DECEMBER 31,
 AS OF DECEMBER 31,
 
 AS OF DECEMBER 31,

CUSIP
 
 RATE
 2015

 2014

 2015

 2014

 
 2015

 
Without sinking fund:
 
 
 
 
 
 
 

 
Cumulative, $100 par value:
 
 
 
 
 
 
 

 29364P301
4.75% Series
4.75%
               77,798

               77,798

 $ 8

 $ 8

 
 $104.58

 29364P202
4.36% Series
4.36%
60,000

60,000

6

6

 
105.00

 29364P400
5.56% Series
5.56%
60,000

60,000

6

6

 
102.59

 
 Total without sinking fund
 
             197,798

             197,798

 $ 20

                20

 
 
Totals may not foot due to rounding.
 
 
 
 
 
 
 






UTILITY LONG-TERM DEBT AND PREFERRED STOCK
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY TEXAS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
 MATURITY
 FIRST CALL
 CURRENT OR
 AS OF DECEMBER 31,
CUSIP
 
 TYPE*
 RATE
 DATE
 DATE
 FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
 29365TAB0
3.60% Series
M
3.6%
  06/15
 
 
 
$

 $ 200

 29365TAA2
7.125% Series
M
7.125%
 02/19
Now
 MW (T + .50%)
500

500

 29365TAC8
4.1% Series
M
4.1%
 09/21
Now
 MW (T + .35%)
75

75

 29365TAD6
5.15% Series
M
5.15%
06/45
6/25/16
 MW (T + .35%)
250


 29365T104
5.625% Series
M
5.625%
06/64
6/19/16
100%
135

135

 
Total bonds
 
 
 
 
 
 
960

910

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
 29365KAA1
2.12% Series Senior Secured, Series A - Securitization Bond
2.12%
 02/16
 
 
 

14

 29365QAB6
5.79% Series Senior Secured, Series A - Securitization Bond
5.79%
 10/18
 
 
 
50

74

 29365KAB9
3.65% Series Senior Secured, Series A - Securitization Bond
3.65%
 08/19
 
 
 
117

145

 29365QAC4
5.93% Series Senior Secured, Series A - Securitization Bond
5.93%
 06/22
 
 
 
114

114

 29365KAC7
4.38% Series Senior Secured - Securitization Bond
4.38%
 11/23
 
 
 
219

219

 
Unamortized Premium and Discount – Net
 
 
 
 
 
 
(2
)
(2
)
 
Unamortized Debt Issuance Costs
 
 
 
 
 
 
(11
)
(10
)
 
Other
 
 
 
 
 
 
5

5

TOTAL LONG-TERM DEBT
 
 
 
 
 
1,452

1,469

 Less Amount Due Within One Year
 
 
 
 
 
 
 
200

 Long-Term Debt Excluding Amount Due Within One Year
 
 
 
 $ 1,452

 $ 1,269

 Fair Value of Long-Term Debt(a)
 
 
 
 
 
 
 $ 1,591

 $ 1,629

 *M = Mortgage Bond; G = Governmental Bond
 
 
 
 
 
 
 
 Weighted-average annualized coupon rate
 
 
 
 
 
 
5.7%

5.4%

(a) The fair value includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy
 (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 







SYSTEM ENERGY RESOURCES, INC.
 
 
 
 
 
 
 
 
 
 
BONDS:
 
 
 
 MATURITY
 FIRST CALL
 CURRENT OR
 AS OF DECEMBER 31,
CUSIP
 
 TYPE*
 RATE
 DATE
 DATE
 FIRST CALL PRICE
 2015

 2014

 
 
 
 
 
 
 
 
 
 
 605277AB8
5.875% Series – Mississippi Business Finance Corp.
 G(a)
5.875%
2022
 Now
100%
156

216

 871911AS2
4.10% Series
M
4.1%
04/23
Now
MW (T + 0.40%)
250

250

 
Total bonds
 
 
 
 
 
 
406

466

OTHER LONG-TERM DEBT:
 
 
 
 
 
 
 
 
 
5.33% Series G – Variable Interest Entity Note Payable
5.33%
04/15
 
 
 

60

 
4.02% Series H – Variable Interest Entity Note Payable
4.02%
02/17
 
 
 
50

50

 
3.78% Series I – Variable Interest Entity Note Payable
3.78%
10/18
 
 
 
85

85

 361561AA1
Grand Gulf Lease Obligation 5.13%
 
5.13%
 
 
 
 
34

51

 
Unamortized Premium and Discount – Net
 
 
 
 
 
 
(1
)
(1
)
 
Unamortized Debt Issuance Costs
 
 
 
 
 
 
(2
)
(4
)
 TOTAL LONG-TERM DEBT
 
 
 
 
 
 
573

707

 Less Amount Due Within One Year
 
 
 
 
 
 
 
76

 Long-Term Debt Excluding Amount Due Within One Year
 
 
 
 $ 573

 $ 630

 Fair Value of Long-Term Debt(b)
 
 
 
 
 
 
 $ 553

 $ 677

 *M = Mortgage Bond; G = Governmental Bond
 
 
 
 
 
 Weighted-average annualized coupon rate
 
 
 
 
 
 
4.1%

4.8%

(a) Consists of pollution control revenue bonds and environmental revenue bonds.
(b) The fair value excludes lease obligations of $34 million at System Energy and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy (see pgs. 214 - 222 of 2015 10K) and are based on prices derived from inputs such as benchmark yields and reported trades.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 






UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
UTILITY TOTAL CAPABILITY
 
 
 
 
 
 
 
 
 
OWNED &

 
 
 OPERATED
 
LEASED

OPERATED

As of December 31, 2015.
 PLANTS
 UNITS
 
(MW)(a)

(MW)

Plants that use fuel type:
 
 
 
 
 
Gas/Oil
                  25
                  58
 
14,585

14,896

Coal
                    3
                    5
 
2,243

3,855

Petroleum Coke
                    1
                    2
 

204

Total Fossil
                  29
                  65
 
16,828

18,955

Hydro
                    3
                    7
 
74

153

Nuclear
                    4
                    5
 
5,198

5,346

Total Capability
                  36
                  77
 
22,100

24,454

All plants that have units with multiple fuel types are in the Gas & Oil plant count.
 
 
 
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions
  based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
 
 







UTILITY SELECTED OPERATING DATA
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
43,732

34,158

30,364

31,011

30,042

  Coal
8,263

13,970

13,567

13,320

14,915

  Nuclear
39,682

40,986

38,676

37,714

40,102

  Hydro
144

142

131

108

160

     Total Net Generation
91,821

89,256

82,739

82,153

85,219

Purchased Power:
 
 
 
 
 
  Affiliated Companies


349

713

803

  Non-affiliated Companies
34,047

35,291

33,994

32,982

32,896

     Total Purchased Power
34,047

35,291

34,343

33,695

33,699

     Total Sources of Energy
125,868

124,547

117,081

115,850

118,918

 USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
36,068

35,932

35,169

34,664

36,684

  Commercial
29,348

28,827

28,547

28,724

28,720

  Industrial
44,382

43,723

41,653

41,181

40,810

  Governmental
2,514

2,428

2,412

2,435

2,474

     Total Retail
112,312

110,910

107,781

107,004

108,688

Sales for Resale
9,274

9,462

3,020

3,200

4,111

Unbilled Energy
(96
)
(485
)
530

15

(131
)
     Total Electric Energy Sales
121,490

119,887

111,331

110,219

112,668

Line Losses and Company Usage
4,378

4,660

5,750

5,631

6,250

     Total Uses of Energy
125,868

124,547

117,081

115,850

118,918

Electric Energy Sales (Weather Adjusted)(GWh):
 
 
 
 
 
  Residential
35,413

35,188

35,143

35,357

34,369

  Commercial
29,022

28,907

28,573

28,596

28,033

  Industrial
44,382

43,723

41,653

41,181

40,810

  Governmental
2,509

2,430

2,413

2,426

2,451

     Total Weather Adjusted Sales
111,326

110,248

107,782

107,560

105,663

Peak Demand (MW)
21,730

20,472

21,581

21,866

22,387

Operational Summer Capacity at Peak (MW)
24,504

24,367

23,802

23,407

23,979

Annual System Load Factor (%)
61

65

62

60

60

Retail Electric Sales Growth Rate (%)
1.3

2.9

0.7

(1.5
)
1.1

Retail Electric Sales Weather-Adjusted Growth Rate (%)
1.0

2.3

0.2

1.9

2.0

Regional Gross Domestic Product Rate (%)
1.7

4.0

2.7

4.7

4.7

National Gross Domestic Product Rate (%)
2.4

2.4

2.2

2.3

1.6

Average Fuel Cost (cents/KWh)
 
 
 
 
 
  Natural Gas
2.65

4.36

4.12

3.15

4.85

  Nuclear Fuel
0.85

0.89

0.92

0.85

0.81

  Coal
2.85

2.63

2.70

2.60

2.31

  Purchased Power
3.39

5.14

4.32

3.58

4.59

Totals may not foot due to rounding.
 
 
 
 
 





UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
2015 CONSOLIDATING UTILITY ELECTRIC STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 EAI

 ELL

 EMI

 ENOI

 ETI

 SERI

 ELIMINATIONS

 TOTAL

%

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 

 
 
Residential
823,983

1,292,903

565,514

219,788

632,667


(17,179
)
3,517,676

38%

Commercial
515,145

987,464

465,517

186,272

369,155


(7,321
)
2,516,232

27%

Industrial
477,217

1,418,773

163,651

30,523

372,217


(172
)
2,462,209

26%

Governmental
19,821

67,560

46,537

64,634

25,356


(989
)
222,919

2%

     Total Retail
1,836,166

3,766,700

1,241,219

501,217

1,399,395


(25,661
)
8,719,036

93%

Sales for Resale
323,571

442,172

85,387

66,114

273,469

632,268

(1,574,655
)
248,327

3%

Other
93,827

152,652

70,379

16,991

34,339

137

(26,949
)
341,377

4%

     Total
2,253,564

4,361,524

1,396,985

584,322

1,707,203

632,405

(1,627,263
)
9,308,740

100%

 
 
 
 
 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
   

   

 
 
Residential
142,629

401,449

174,436

63,245

181,356


(5,322
)
957,793

32%

Commercial
108,329

326,195

149,877

61,664

139,289


(2,388
)
782,966

27%

Industrial
123,177

731,142

68,714

12,551

203,059


(49
)
1,138,594

39%

Governmental
4,203

20,640

13,212

22,446

8,424


(271
)
68,654

2%

     Total Retail
378,338

1,479,426

406,239

159,906

532,128


(8,030
)
2,948,007

100%

 
 
 
 
 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
   

   

 
 

Net Generation:
 
 
 
 
 
   

   

 
 

  Gas & Oil
5,768

22,450

6,232

1,742

7,539



43,732

35%

  Coal
4,423

1,462

1,297


1,081



8,263

7%

  Nuclear
13,838

15,301




10,543


39,682

32%

  Hydro
144







144


     Total Net Generation
24,172

39,213

7,529

1,742

8,620

10,543


91,821

73%

Purchased Power:
 
 
 
 
 
 
 
 
 
Affiliated Companies
3,797

10,001

4,812

4,358

6,235


(29,203
)


Non-affiliated Companies
4,408

15,241

3,470

1,478

9,751


(301
)
34,047

27%

Total Purchased Power
8,205

25,242

8,282

5,836

15,986


(29,504
)
34,047

27%

Total Sources of Energy
32,378

64,455

15,811

7,578

24,607

10,543

(29,504
)
125,868

100%

 
 
 
 
 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
 
 
 
 
  Residential
8,016

14,399

5,661

2,301

5,889


(198
)
36,068

32%

  Commercial
6,020

11,700

4,913

2,257

4,548


(90
)
29,348

26%

  Industrial
6,889

27,713

2,283

463

7,036


(2
)
44,382

40%

  Governmental
235

756

433

825

276


(11
)
2,514

2%

     Total Retail
21,160

54,568

13,290

5,846

17,749


(301
)
112,312

100%

Sales for Resale
10,219

8,270

1,679

1,655

6,107

10,547

(29,203
)
9,274

Unbilled Energy
(119
)
10

(72
)
30

55



(96
)
Total Electric Energy Sales
31,260

62,848

14,897

7,531

23,911

10,547

(29,504
)
121,490

Line Losses and Company Usage
1,118

1,607

914

47

696

(4
)

4,378

Total Uses of Energy
32,378

64,455

15,811

7,578

24,607

10,543

(29,504
)
125,868

AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
Residential
10.28

8.98

9.99

9.55

10.74



9.75

Commercial
8.56

8.44

9.48

8.25

8.12



8.57






Industrial
6.93

5.12

7.17

6.59

5.29



5.55

Governmental
8.43

8.94

10.75

7.83

9.19



8.87

 
 
 
 
 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
(as of December 31, 2015)
 
 
 
 
 
 
 
 
Residential
587,634

916,095

372,194

176,223

379,838



2,431,984

85%

Commercial
92,248

129,343

63,890

16,356

47,003



348,840

12%

Industrial
24,303

10,629

3,959

2,246

5,435



46,572

2%

Governmental
735

7,892

5,009

1,886

2,377



17,899

1%

Total Retail Customers
704,920

1,063,959

445,052

196,711

434,653



2,845,295

100%

(a) On Sept. 1, 2015, ELL transferred its Algiers assets to ENOI. The effect of the Algiers transfer has been retrospectively applied
to ENOI's but not ELL's financial data presented in this report.
(b) Reflects other Entergy subsidiaries, including Entergy Utility Holding Co, LLC, Entergy Services, Inc., Entergy Operations, Inc. and the elimination of intercompany transactions and the effect of the Algiers asset transfer.
 
Totals may not foot due to rounding.







UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
ENTERGY ARKANSAS, INC.
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 
 
 
Residential
             823,983

         754,513

         772,059

         765,564

         755,807

Commercial
             515,145

         461,238

         469,367

         472,046

         449,756

Industrial
             477,217

         424,151

         432,852

         439,467

         421,384

Governmental
               19,821

           18,314

           19,206

           19,787

           19,711

     Total Retail
          1,836,166

      1,658,216

      1,693,484

      1,696,864

      1,646,658

Sales for Resale
             323,571

         412,805

         429,141

         369,322

         375,127

Other
               93,827

         101,370

           67,534

           60,818

           62,525

     Total Electric Operating Revenues
          2,253,564

      2,172,391

      2,190,159

      2,127,004

      2,084,310

 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
 
 
 
 
Residential
142,629

119,554

113,608

143,394

147,763

Commercial
108,329

88,965

83,642

109,845

110,070

Industrial
123,177

101,715

94,847

125,068

126,854

Governmental
4,203

3,538

3,386

4,651

4,965

     Total Retail Fuel Revenues
378,338

313,772

295,483

382,958

389,652

 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
5,768

3,508

3,200

1,889

1,078

  Coal
4,423

7,753

7,481

7,179

7,636

  Nuclear
13,838

14,476

11,946

15,493

14,194

  Hydro
144

142

131

108

160

     Total Net Generation
24,172

25,879

22,758

24,669

23,068

Purchased Power:
 
 
 
 
 
  Affiliated Companies
3,797

3,319

4,017

2,940

4,280

  Non-affiliated Companies
4,408

3,324

4,608

4,130

4,035

     Total Purchased Power
8,205

6,643

8,625

7,070

8,315

     Total Sources of Energy
32,378

32,522

31,383

31,739

31,383

 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
8,016

8,070

7,921

7,859

8,229

  Commercial
6,020

5,934

5,929

6,046

6,051

  Industrial
6,889

6,808

6,769

6,925

7,029

  Governmental
235

238

241

257

275

     Total Retail
21,160

21,050

20,860

21,087

21,584

Sales for Resale
10,219

10,301

8,929

9,019

8,197

Unbilled Energy
(119
)
(98
)
100

13

(49
)
     Total Electric Energy Sales
31,260

31,253

29,889

30,119

29,732

Line Losses and Company Usage
1,118

1,269

1,494

1,620

1,651

     Total Uses of Energy
32,378

32,522

31,383

31,739

31,383

 
 
 
 
 
 
AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
 
Residential
10.28

9.35

9.75

9.74

9.18

Commercial
8.56

7.77

7.92

7.81

7.43

Industrial
6.93

6.23

6.39

6.35

5.99

Governmental
8.43

7.69

7.97

7.70

7.17

 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
 
 
 
(as of December 31)
 
 
 
 
 
Residential
587,634

585,896

585,157

583,882

582,813

Commercial
92,248

91,005

90,354

89,618

88,895

Industrial
24,303

23,996

24,198

21,295

20,402






Governmental
735

692

686

681

693

     Total Retail Customers
704,920

701,589

700,395

695,476

692,803

Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 





UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY ARKANSAS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
LEASED
 
 
PER KWH
Emissions
 NET
EXPENSES
PRODUCTION
 
 
 
COMMERCIAL
CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg(b)
GENERATION
PER NET
EXPENSE
PLANT
UNIT
 OWNERSHIP
 OPERATION
(MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(e)
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY(c)
 (MWH)
 MWH
($000)
Cecil Lynch
2
100%
1949
Gas/Oil
Retired
 
 
 
 
 



 
3
100%
1954
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
Harvey Couch
1
100%
1943
Gas/Oil
Retired
 
 
 
 
 



 
2
100%
1954
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
Lake Catherine
1
100%
1950
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
 
2
100%
1950
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
 
3
100%
1953
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
 
4
100%
1970
522
Gas/Oil
Peaking
12,701
0.6
264
118,324
 
 
159,376

147.5

23,504

Hamilton Moses
1
100%
1951
Gas/Oil
Retired
 
 
 
 
 

 
2
100%
1951
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
Mabelvale
1
100%
1970
14
Gas/Oil
Peaking
 
 
 
 
 
5

101,669.2

508

 
2
100%
1970
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
 
3
100%
1970
14
Gas/Oil
Peaking
 
 
 
 
 
 
 
 
 
 
4
100%
1970
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
Robert Ritchie
1
100%
1961
Gas/Oil
Retired
 
 
 
 
 



 
3
100%
1970
Gas/Oil
Retired
 
 
 
 
 



Ouachita
1
100%
2002
248
Gas
Intermediate
7,331
3
67
555,599
 
Dry LNB, SCR
3,109,658

25.5

79,153

 
2
100%
2002
245
Gas
Intermediate
 
4
82
707,327
 
Dry LNB, SCR
 
 
 
Hot Spring
1
100%
2002
603
Gas
Intermediate
7,574
6
64
1,112,843
 
Dry LNB, SCR
2,498,549

33.0

82,462

Independence
1
31.5%
1983
264
Coal
Base
10,946
2,484
1,032
914,651
51
OFA, ESP
875,414

35.8

31,325

White Bluff
1
57%
1980
466
Coal
Base
12,578
5,785
2,627
2,048,084
96
OFA, ESP
3,547,222

33.4

118,596

 
2
57%
1981
466
Coal
Base
 
5,889
2,765
2,057,660
104
OFA, ESP
 
 
 
Cecil Lynch
 Diesel
100%
1967
Oil
Retired
 
 
 
 
 


Carpenter
1
100%
1932
31
Hydro
Peaking
 
 
 
 
 
104,958

10.4

1,096

 
2
100%
1932
31
Hydro
Peaking
 
 
 
 
 
 
 
 
 
Remmel
1
100%
1925
4
Hydro
Peaking
 
 
 
 
 
38,999

19.2

750

 
2
100%
1925
4
Hydro
Peaking
 
 
 
 
 
 
 
 
 
 
3
100%
1925
4
Hydro
Peaking
 
 
 
 
 
 
 
 
 
Arkansas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nuclear One
1
100%
1974
826
Nuclear PWR(d)
Base
10,376
 
 
 
 
 
13,837,726

27.9

386,289

 
2
100%
1980
983
Nuclear PWR(d)
Base
 
 
 
 
 
 
 
 
 
Total
 
 
 
4,726
 
 
 
 
 
 
 
 
24,171,905

29.9

723,682

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel
 (assuming no curtailments) that each station was designed to utilize.
(b) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA), Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2 or Mercury Control equipment operating on any unit.
(d) PWR = Pressurized Water Reactor.
(e) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Calculations may differ due to rounding.






UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
ENTERGY LOUISIANA, LLC
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 
 
 
Residential
1,292,903

1,358,221

1,303,928

1,075,768

1,308,723

Commercial
987,464

1,044,352

1,002,987

831,592

965,463

Industrial
1,418,773

1,569,202

1,457,013

1,122,991

1,357,869

Governmental
67,560

69,212

67,234

56,462

62,825

     Total Retail
3,766,700

4,040,987

3,831,162

3,086,813

3,694,880

Sales for Resale
442,172

506,478

369,316

413,297

612,438

Other
152,652

121,349

139,795

119,498

124,145

     Total Electric Operating Revenues
4,361,524

4,668,814

4,340,273

3,619,608

4,431,463

 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
 
 
 
 
Residential
401,449

540,384

500,442

350,181

519,374

Commercial
326,195

437,389

401,218

287,419

396,662

Industrial
731,142

971,354

872,395

613,609

827,628

Governmental
20,640

27,123

25,399

17,775

24,048

     Total Retail Fuel Revenues
1,479,426

1,976,250

1,799,454

1,268,984

1,767,712

 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
22,450

16,421

12,873

15,303

14,053

  Coal
1,462

1,995

2,006

2,033

2,605

  Nuclear
15,301

17,311

16,955

15,659

16,615

  Hydro





     Total Net Generation
39,213

35,727

31,834

32,995

33,273

Purchased Power:
 
 
 
 
 
  Affiliated Companies
10,001

9,863

13,291

12,063

10,801

  Non-affiliated Companies
15,241

17,132

15,115

15,589

18,689

     Total Purchased Power
25,242

26,995

28,406

27,652

29,490

     Total Sources of Energy
64,455

62,722

60,240

60,647

62,763

 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
14,399

14,415

14,026

13,879

14,686

  Commercial
11,700

11,555

11,402

11,399

11,394

  Industrial
27,713

27,025

25,734

25,306

24,854

  Governmental
756

732

723

707

695

     Total Retail
54,568

53,727

51,885

51,291

51,629

Sales for Resale
8,270

7,291

6,147

7,432

8,809

Unbilled Energy
10

(197
)
268

43

(1
)
     Total Electric Energy Sales
62,848

60,821

58,300

58,766

60,437

Line Losses and Company Usage
1,607

1,901

1,940

1,881

2,326

     Total Uses of Energy
64,455

62,722

60,240

60,647

62,763

 
 
 
 
 
 
AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
 
Residential
8.98

9.42

9.30

7.75

8.91

Commercial
8.44

9.04

8.80

7.30

8.47

Industrial
5.12

5.81

5.66

4.44

5.46

Governmental
8.94

9.46

9.30

7.99

9.04

 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
 
 
 
(as of December 31)
 
 
 
 
 
Residential
916,095

927,579

922,438

915,710

909,345

Commercial
129,343

129,654

128,496

127,125

126,407

Industrial
10,629

10,805

10,533

10,293

10,186

Governmental
7,892

7,607

7,549

7,502

7,382

     Total Retail Customers
1,063,959

1,075,645

1,069,016

1,060,630

1,053,320

Totals may not foot due to rounding.
 
 
 
 
 






UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY LOUISIANA, LLC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
LEASED
 
 
PER KWH
Emissions
 NET
 EXPENSES
 PRODUCTION
 
 
 
COMMERCIAL
CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg(b)
 
GENERATION
PER NET
EXPENSE
PLANT
 UNIT
OWNERSHIP
 OPERATION
(MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(e)
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY(c)
 (MWH)
 MWH
($000)
Acadia
2
100%
2002
557
Gas
Intermediate
7,200
8
123
1,555,473
 
SCR
3,606,030

24.7

89,065

Buras
8
100%
1971
12
Gas/Oil
Peaking
20,210
 
 
 
 
 
6,805

138.5

943

Little Gypsy
1
100%
1961
Gas/Oil
Retired
12,470
 
 
 
 
 
1,764,059

47.0

82,994

 
2
100%
1966
411
Gas/Oil
Intermediate
 
2
539
374,540
 
Combus Mod/Fuel Reburn
 
 
 
 
3
100%
1969
520
Gas/Oil
Intermediate
 
4
3,402
809,312
 
Combus Mod/Fuel Reburn
 
 
 
Monroe
10
100%
1961
Gas
Retired
 
 
 
 
 
 



 
11
100%
1965
Gas
Retired
 
 
 
 
 
 
 
 
 
 
12
100%
1968
Gas
Retired
 
 
 
 
 
 
 
 
 
Ninemile Point
1
100%
1951
Gas/Oil
Retired
10,170
 
 
 
 
 
4,856,438

35.2

171,180

 
2
100%
1953
Gas/Oil
Retired
 
 
 
 
 
 
 
 
 
 
3
100%
1955
103
Gas/Oil
Intermediate
 
1
167
120,917
 
 
 
 
 
 
4
100%
1971
659
Gas/Oil
Intermediate
 
9
6,706
1,702,537
 
 
 
 
 
 
5
100%
1973
737
Gas/Oil
Intermediate
 
7
4,236
1,300,162
 
 
 
 
 
 
6
100%
2014
560
Gas/Oil
Intermediate
6,870
8
174
1,485,287
 
 SCR, Steam Injection
3,972,249

24.6

98,683

Perryville
1
100%
2002
546
Gas
Intermediate
7,170
8
175
1,572,240
 
Dry LNB, SCR
3,791,383

24.6

93,439

 
2
100%
2001
156
Gas
Peaking
 
8
30,280
 
Dry LNB
 
 
 
Sterlington
6
100%
1958
Gas/Oil
Retired
-4,060
 
 
 
 
 
(3,175
)
(549.5
)
1,745

 
7
100%
1974
61
Gas/Oil
Peaking
 
2
672
 
 
 
 
 
Waterford
1
100%
1975
368
Gas/Oil
Intermediate
11,080
33
419
299,857
 
 Low NOx Cell Burner, Combus Mod/Fuel Reburn
1,341,068

43.1

57,827

 
2
100%
1975
411
Gas/Oil
Intermediate
 
11
839
601,430
 
 Low NOx Cell Burner, Combus Mod/Fuel Reburn
 
 
 
 
4
100%
2009
33
Oil
Peaking
 
3
7
9,670
 
Steam Injection
 
 
 
LA Station 2 (d)
10
100%
1950
Gas
Reserve
 
 
 
 
 


227

 
11
100%
1950
Gas
Reserve
 
 
 
 
 
 
 
 
 
 
12
100%
1953
Gas
Reserve
 
 
 
 
 
 
 
 
 
Willow Glen
1
100%
1960
Gas/Oil
Reserve
12,590
 
 
 
 
 
280,314

79.0

22,134

 
2
100%
1964
179
Gas/Oil
Intermediate
 
1
135
126,224
 
 
 
 
 
 
3
100%
1968
Gas
Reserve
 
 
 
 
 
ESP
 
 
 
 
4
100%
1973
483
Gas/Oil
Intermediate
 
142
74,543
 
 
 
 
 
 
5
100%
1976
Gas/Oil
Reserve
 
 
 
 
 
 
 
 
 
Roy S. Nelson
3
100%
1960
Gas/Oil
Reserve
12,210
 
 
 
 
 
643,731

45.9

29,555

 
4
100%
1970
425
Gas/Oil
Intermediate
 
2
563
457,182
 
Combus Mod/Fuel Reburn
 
 
 
Calcasieu
1
100%
2000
142
Gas
Peaking
10,830
1
209
271,247
 
Dry LNB
590,378

45.5

26,869

 
2
100%
2001
159
Gas
Peaking
 
1
73
110,090
 
Dry LNB
 
 
 
Ouachita
3
100%
2002
248
Gas
Intermediate
7,284
3
80
645,737
 
Dry LNB, SCR
1,600,937

25.2

40,305

Roy S. Nelson
6
40%
1982
221
Coal
Base
12,370
3,268
1,253
1,063,149
56
LNB w/ Sep OFA, ESP
854,808

45.4

38,790

Big Cajun 2
3
24%
1983
142
Coal
Base
10,820
2,102
391
681,619
61
LNB w/ OFA, ESP
607,567

39.5

24,015

River Bend
1
100%
1986
968
Nuclear BWR(d)
Base
10,965
 
 
 
 
 
6,915,771

13.9

96,424

Waterford
3
100%
1985
1,160
Nuclear PWR(d)
Base
10,940
 
 
 
 
 
8,384,741

12.6

105,846

Total
 
 
 
9,258
 
 
 
 
 
 
 
 
39,213,102

25.0

980,042

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel
 (assuming no curtailments) that each station was designed to utilize.





(b) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB),
     Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA),
    Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2 or Mercury Control equipment operating on any unit.
(d) BWR = Boiling Water Reactor; PWR = Pressurized Water Reactor.
(e) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 







UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
ENTERGY MISSISSIPPI, INC.
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 
 
 
Residential
565,514

585,371

526,618

453,707

490,088

Commercial
465,517

480,754

432,240

381,346

401,276

Industrial
163,651

174,615

155,742

140,460

145,792

Governmental
46,537

46,863

41,967

36,289

37,302

     Total Retail
1,241,219

1,287,604

1,156,567

1,011,802

1,074,458

Sales for Resale
85,387

166,238

116,514

46,962

131,334

Other
70,379

70,351

61,459

61,601

60,678

     Total Electric Operating Revenues
1,396,985

1,524,193

1,334,540

1,120,366

1,266,470

 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
 
 
 
 
Residential
174,436

201,100

166,976

137,760

181,581

Commercial
149,877

171,391

142,564

122,805

154,748

Industrial
68,714

80,304

66,397

58,721

69,808

Governmental
13,212

14,702

12,119

10,210

12,861

     Total Retail Fuel Revenues
406,239

467,497

388,056

329,496

418,998

 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
6,232

6,113

7,240

6,305

5,978

  Coal
1,297

2,747

2,597

2,605

2,749

  Nuclear





  Hydro





     Total Net Generation
7,529

8,860

9,837

8,910

8,727

Purchased Power:
 
 
 
 
 
  Affiliated Companies
4,812

4,114

4,818

4,415

5,080

  Non-affiliated Companies
3,470

3,780

1,428

1,393

1,524

     Total Purchased Power
8,282

7,894

6,246

5,808

6,604

     Total Sources of Energy
15,811

16,754

16,083

14,718

15,331

 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
5,661

5,672

5,629

5,550

5,848

  Commercial
4,913

4,821

4,815

4,915

4,985

  Industrial
2,283

2,297

2,265

2,400

2,326

  Governmental
433

414

409

408

415

     Total Retail
13,290

13,204

13,118

13,273

13,574

Sales for Resale
1,679

2,850

1,847

497

763

Unbilled Energy
(72
)
(32
)
19

24

(69
)
     Total Electric Energy Sales
14,897

16,022

14,984

13,794

14,268

Line Losses and Company Usage
914

732

1,099

924

1,063

     Total Uses of Energy
15,811

16,754

16,083

14,718

15,331

 
 
 
 
 
 
AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
 
Residential
9.99

10.32

9.36

8.17

8.38

Commercial
9.48

9.97

8.98

7.76

8.05

Industrial
7.17

7.60

6.88

5.85

6.27

Governmental
10.75

11.31

10.26

8.91

8.99

 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
 
 
 
(as of December 31)
 
 
 
 
 
Residential
372,194

370,265

369,686

368,660

366,697

Commercial
63,890

63,306

62,867

63,083

62,762

Industrial
3,959

3,847

3,752

3,598

3,488

Governmental
5,009

4,962

4,864

4,419

4,358

     Total Retail Customers
445,052

442,380

441,169

439,760

437,305

Totals may not foot due to rounding.
 
 
 
 
 






UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY MISSISSIPPI, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
 OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
 LEASED
 
 
PER KWH
Emissions
 NET
 EXPENSES
 PRODUCTION
 
 
 
COMMERCIAL
CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg(b)
 
GENERATION
PER NET
EXPENSE
PLANT
UNIT
OWNERSHIP
OPERATION
 (MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(d)
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY(c)
 (MWH)
 MWH
($000)
Attala
1
100%
2001
453
Gas
Intermediate
7,125
6
121
1,233,637
Dry LNB, SCR
3,297,696

24.8

81,667

Hinds
1
100%
2001
444
Gas
Intermediate
7,190
5
83
982,557
Dry LNB, SCR
2,323,831

30.4

70,648

Baxter Wilson
1
100%
1967
539
Gas/Oil
Peaking
18,068
47
25,028
 
84,812

297.5

25,230

 
2
100%
1971
692
Gas/Oil
Peaking
 
115
56,864
Combus Mod/Fuel Reburn
 
 
 
Delta
1
100%
1953
Gas/Oil
Retired
 
 
 
 



 
2
100%
1953
Gas/Oil
Retired
 
 
 
 
 
 
 
 
Gerald Andrus
1
100%
1975
734
Gas/Oil
Peaking
11,887
2
567
361,028
OFA
513,619

54.2

27,822

Natchez
1
100%
1951
Gas/Oil
Retired
 
 
 
 



Rex Brown
1
100%
1948
Gas
Retired
14,707
 
 
 
 
11,733

446.2

5,236

 
3
100%
1951
44
Gas/Oil
Peaking
 
 
 
 
 
 
4
100%
1959
200
Gas/Oil
Peaking
 
31
15,711
 
 
 
 
 
5
100%
1968
10
 Oil
Peaking
 
 
 
 
 
 
 
 
Independence
1
25%
1983
210
 Coal
Base
11,490
1,971
819
725,913
40
OFA, ESP
1,297,052

36.7

47,560

 
2
25%
1984
211
Coal
Base
 
1,777
748
672,578
35
OFA, ESP
 
 
 
Total
 
 
 
3,536
 
 
 
 
 
 
 
 
7,528,743

34.3

258,162

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel
 (assuming no curtailments) that each station was designed to utilize.
(b) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB),
     Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA),
    Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2 or Mercury Control equipment operating on any unit.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 







UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
ENTERGY NEW ORLEANS, INC.
 
 
 
 
 
 
2015

2014

2013

2012

2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 
 
 
Residential
219,788

228,913

221,007

194,628

201,293

Commercial
186,272

195,900

193,391

173,453

165,201

Industrial
30,523

33,022

35,178

31,607

30,098

Governmental
64,634

67,761

68,273

64,341

61,686

     Total Retail
501,217

525,596

517,849

464,029

458,278

Sales for Resale
66,114

81,700

27,472

44,732

96,451

Other
16,991

17,792

19,310

14,146

16,974

     Total Electric Operating Revenues
584,322

625,088

564,631

522,907

571,703

 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
 
 
 
 
Residential
63,245

85,913

85,649

63,127

70,128

Commercial
61,664

82,948

84,684

65,245

65,778

Industrial
12,551

17,255

19,065

15,424

15,425

Governmental
22,446

29,812

30,884

25,283

25,507

     Total Retail Fuel Revenues
159,906

215,928

220,282

169,079

176,838

 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
1,742

2,003

1,500

2,344

2,412

  Coal





  Nuclear





  Hydro





     Total Net Generation
1,742

2,003

1,500

2,344

2,412

Purchased Power:
 
 
 
 
 
  Affiliated Companies
4,358

3,344

3,915

3,385

3,650

  Non-affiliated Companies
1,478

1,818

926

924

995

     Total Purchased Power
5,836

5,162

4,841

4,309

4,645

     Total Sources of Energy
7,578

7,165

6,341

6,653

7,057

 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
2,301

2,262

2,152

2,060

2,196

  Commercial
2,257

2,181

2,130

2,105

2,083

  Industrial
463

455

484

487

501

  Governmental
825

783

778

806

816

     Total Retail
5,846

5,681

5,544

5,458

5,596

Sales for Resale
1,655

1,397

531

1,013

1,215

Unbilled Energy
30

(35
)
28

(2
)
(1
)
     Total Electric Energy Sales
7,531

7,043

6,103

6,469

6,810

Line Losses and Company Usage
47

122

238

184

247

     Total Uses of Energy
7,578

7,165

6,341

6,653

7,057

 
 
 
 
 
 
AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
 
Residential
9.55

10.12

10.27

9.45

9.17

Commercial
8.25

8.98

9.08

8.24

7.93

Industrial
6.59

7.26

7.27

6.49

6.01

Governmental
7.83

8.65

8.78

7.98

7.56

 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
 
 
 
(as of December 31)
 
 
 
 
 
Residential
176,223

173,067

170,202

167,207

163,141

Commercial
16,356

16,080

15,854

15,591

15,359

Industrial
2,246

2,206

2,255

2,205

2,383

Governmental
1,886

1,888

1,827

1,845

1,852

     Total Retail Customers
196,711

193,241

190,138

186,848

182,735

(a) On Sept. 1, 2015, ELL transferred its Algiers assets to ENOI. The effect of the Algiers transfer has been retrospectively applied to ENOI's data presented above.
Totals may not foot due to rounding.
 
 
 
 
 





UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY NEW ORLEANS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
 OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
 LEASED
 
 
PER KWH
Emissions
 NET
 EXPENSES
 PRODUCTION
 
 
 
COMMERCIAL
CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg(b)
 
 GENERATION
 PER NET
 EXPENSE
PLANT
 UNIT
OWNERSHIP
 OPERATION
 (MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(d)
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY(c)
 (MWH)
 MWH
($000)
Michoud
1
100%
1957
 Gas/Oil
Retired
11,499
 
 
 
 
 
       1,741,898
           41.6
            72,523
 
2
100%
1963
239
 Gas/Oil
Intermediate
 
2
861
415,479
   
   
   
   
 
3
100%
1967
542
 Gas/Oil
Intermediate
 
4
1,362
696,436
Combus Mod/Fuel Reburn
   
   
   
Total
 
 
 
781
 
 
 
 
 
 
 
 
       1,741,898
           41.6
            72,523
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel
 (assuming no curtailments) that each station was designed to utilize.
(b) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB),
     Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA),
    Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2 or Mercury Control equipment operating on any unit.
Totals may not foot due to rounding.


SYSTEM ENERGY RESOURCES, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 2015

 2014

 2013

 2012

 2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
664,364

735,089

622,118

563,411

 
 
 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
 
 
Net Generation:
 
 
 
 
 
 
 
  Gas & Oil
 
 
 




  Coal
 
 
 




  Nuclear
 
 
10,543

9,199

9,775

6,562

9,293

  Hydro
 
 
 




     Total Net Generation
 
 
10,543

9,199

9,775

6,562

9,293

Purchased Power
 
 
 




     Total Sources of Energy
 
 
10,543

9,199

9,775

6,562

9,293

 
 
 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
 
 
Electric Energy Sales
 
 
10,547

9,219

9,794

6,602

9,293

Unbilled Energy
 
 





Line Losses and Company Usage
 
 
(4
)
(20
)
(19
)
(40
)

     Total Uses of Energy
 
 
10,543

9,199

9,775

6,562

9,293

Totals may not foot due to rounding.
 
 
 
 
 
 
 







SYSTEM ENERGY RESOURCES, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
 OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
 LEASED
 
 
PER KWH
Emissions
 NET
 EXPENSES
 PRODUCTION
 
 
 
 COMMERCIAL
 CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg
 
 GENERATION
 PER NET
 EXPENSE
PLANT
 UNIT
 OWNERSHIP
 OPERATION
 (MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(c)
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY
 (MWH)
 MWH
($000)
Grand Gulf
1
90%
1985
1,261
 Nuclear BWR(b)
Base
10,541
 
     10,546,906
           21.3
          224,910
Total
 
 
 
1,261
 
 
 
 
 
 
 
 
     10,546,906
           21.3
          224,910
(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments)
      that each station was designed to utilize. Reflects estimate of the rerate for recovered performance (~ 55 MW) and uprate (~ 178 MW) completed in 2012. Approved Summer 2013 rating is 1,409 MW.
(b) BWR = Boiling Water Reactor.
(c) The nuclear heat rate as reflected in the FERC Form 1 is calculated by obtaining the thermal generation in MWhs from the plant multiplied by the industry standard of 3.4126 to obtain the MMBtu equivalency
Calculations may differ due to rounding.





 UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 ENTERGY TEXAS, INC.
 
 
 
 
 
 
2015

2014

2013

2012

2011

ELECTRIC OPERATING REVENUES ($ thousands)
 
 
 
 
 
Residential
632,667

654,064

596,396

553,107

638,161

Commercial
369,155

383,662

327,299

325,342

368,614

Industrial
372,217

421,913

324,767

299,441

351,731

Governmental
25,356

26,266

23,535

22,940

25,955

     Total Retail
1,399,395

1,485,905

1,271,997

1,200,830

1,384,461

Sales for Resale
273,469

338,976

416,285

348,783

336,555

Other
34,339

27,101

40,517

31,883

36,183

     Total Electric Operating Revenues
1,707,203

1,851,982

1,728,799

1,581,496

1,757,199

 
 
 
 
 
 
FUEL REVENUES (included in above revenues)
 
 
 
 
 
Residential
181,356

215,077

164,417

164,387

231,058

Commercial
139,289

165,178

127,596

128,204

166,223

Industrial
203,059

257,233

181,602

165,768

214,474

Governmental
8,424

10,185

8,043

8,070

10,836

     Total Retail Fuel Revenues
532,128

647,674

481,658

466,429

622,591

 
 
 
 
 
 
SOURCES OF ENERGY (GWh)
 
 
 
 
 
Net Generation:
 
 
 
 
 
  Gas & Oil
7,539

6,113

5,551

5,170

6,521

  Coal
1,081

1,475

1,483

1,503

1,925

  Nuclear





  Hydro





     Total Net Generation
8,620

7,588

7,034

6,673

8,446

Purchased Power:
 
 
 
 
 
  Affiliated Companies
6,235

5,859

5,538

5,754

6,546

  Non-affiliated Companies
9,751

9,750

12,381

11,423

8,159

     Total Purchased Power
15,986

15,609

17,919

17,177

14,706

     Total Sources of Energy
24,607

23,197

24,953

23,850

23,151

 
 
 
 
 
 
USES OF ENERGY (GWh)
 
 
 
 
 
Electric Energy Sales:
 
 
 
 
 
  Residential
5,889

5,810

5,726

5,604

6,034

  Commercial
4,548

4,471

4,402

4,396

4,433

  Industrial
7,036

7,140

6,404

6,066

6,102

  Governmental
276

277

282

278

294

     Total Retail
17,749

17,698

16,814

16,344

16,863

Sales for Resale
6,107

4,963

6,999

6,530

5,416

Unbilled Energy
55

(123
)
115

(64
)
(11
)
     Total Electric Energy Sales
23,911

22,538

23,928

22,810

22,268

Line Losses and Company Usage
696

659

1,025

1,040

883

     Total Uses of Energy
24,607

23,197

24,953

23,850

23,151

 
 
 
 
 
 
AVERAGE ELECTRIC REVENUE (cents/KWh)
 
 
 
 
 
Residential
10.74

11.26

10.42

9.87

10.58

Commercial
8.12

8.58

7.44

7.40

8.32

Industrial
5.29

5.91

5.07

4.94

5.76

Governmental
9.19

9.48

8.35

8.25

8.83

 
 
 
 
 
 
NUMBER OF RETAIL ELECTRIC CUSTOMERS
 
 
 
 
 
(as of December 31)
 
 
 
 
 
Residential
379,838

373,436

368,347

364,997

360,909

Commercial
47,003

46,371

45,825

45,247

44,760

Industrial
5,435

5,415

5,143

4,932

4,809

Governmental
2,377

2,334

2,310

2,271

2,248

     Total Retail Customers
434,653

427,556

421,625

417,447

412,726

Totals may not foot due to rounding.
 
 
 
 
 





UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY TEXAS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GENERATION PORTFOLIO
 
 
 
 
 
 
 
PLANT
 
 
 
 
 
TOTAL PLANT – 2015
 
 
 
 
 OWNED &
 
 
AVG BTU
 
 
 
 
 
 
 
 TOTAL
 
 
 
 
LEASED
 
 
PER KWH
Emissions
 NET
 EXPENSES
 PRODUCTION
 
 
 
COMMERCIAL
CAPABILITY
 
 
NET
SO2
NOx
CO2
Hg(b)
 
 GENERATION
 PER NET
 EXPENSE
PLANT
UNIT
 OWNERSHIP
 OPERATION
 (MW)(a)
 FUEL TYPE
 PURPOSE
GENERATION(d) 
(tons)
(tons)
(tons)
(lbs)
TECHNOLOGY(c)
 (MWH)
 MWH
($000)
 Roy S. Nelson
6
30%
1982
164
Coal
Base
12,368
2,416
926
785,806
42
LNB w/ Dep OFA, ESP
631,816

46.2
29,180

 Big Cajun 2
3
18%
1983
105
Coal
Base
10,824
1,553
289
503,806
61
LNB w/ OFA, ESP
449,074

39.5
17,742

 Lewis Creek
1
100%
1970
255
Gas/Oil
Intermediate
10,605
4
183
747,845
 
SCR
2,227,050

35.5
78,986

 
2
100%
1971
253
Gas/Oil
Intermediate
 
4
151
692,123
 
SCR
 
 
 
 Sabine
1
100%
1962
213
Gas/Oil
Intermediate
10,921
2
660
419,559
 
 
5,312,489

35.9
190,621

 
2
100%
1962
213
Gas/Oil
Intermediate
 
2
300
296,492
 
Combus Mod/Fuel Reburn
 
 
 
 
3
100%
1966
378
Gas/Oil
Intermediate
 
3
528
650,164
 
LNB w/ Sep OFA
 
 
 
 
4
100%
1974
500
Gas
Intermediate
 
7
1,593
1,295,170
 
Combus Mod/Fuel Reburn
 
 
 
 
5
100%
1979
460
Gas/Oil
Intermediate
 
3
511
675,856
 
LNB w/ Closed-coupled OFA
 
 
 
Total
 
 
 
2,538
 
 
 
 
 
 
 
 
8,620,430

36.7
316,529

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel
 (assuming no curtailments) that each station was designed to utilize.
(b) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn), Dry Low NOx Burners (Dry LNB),
     Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA),
    Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2 or Mercury Control equipment operating on any unit.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





UTILITY STATISTICAL INFORMATION
 
 
 
 
 
 
UTILITY NUCLEAR PLANT STATISTICS
The following table shows plant performance for 2011 – 2015 based on 18/24 month operating cycle.
 
 
 
 
 
 
CAPABILITY FACTOR (%)
 2015

 2014

 2013

 2012

 2011

ANO
90.8

89.8

79.5

93.7

92.1

Grand Gulf
88.6

84.4

74.6

77.3

90.7

River Bend
89.2

92.6

90.0

90.3

93.4

Waterford 3
88.0

92.9

80.7

85.6

91.4

Entergy Southeast Average
89.5

89.9

80.8

88.1

91.9

Industry Average
92.0

90.4

89.1

86.8

89.3

 
 
 
 
 
 
The following table shows plant performance for 2015 and averages for four three-year periods.
 
 
 
 
 
 
PRODUCTION COST ($/MWh)(a)
 2015

 2012-2014

 2011-2013

 2010–2012

 2009–2011

ANO
27.9

23.2

22.4

20.6

19.8

Grand Gulf
21.2

26.2

24.9

23.1

19.8

River Bend
29.1

26.0

25.7

24.6

23.2

Waterford 3
26.5

25.1

24.0

22.2

20.8

Entergy Southeast Average
25.9

24.9

24.0

22.3

20.6

Industry Average

24.1

23.8

22.9

21.7

(a) Fuel and non-fuel operation and maintenance expenses according to accounting standards that directly relate to the production of electricity per MWh; includes special items to conform with FERC Form 1 definition.







INDIVIDUAL PLANT INFORMATION
 
 
 
 
 
 
 
       ANO
GRAND GULF
RIVER BEND
WATERFORD 3
 
 UNIT 1

 UNIT 2

 
 
 
Owner
Entergy

Entergy

System Energy-90%
Entergy

Entergy

 
Arkansas

Arkansas

South Mississippi
Louisiana

Louisiana

 
 

 

Electric Power
 
 

 
 

 

Association-10%
 

 

Commercial Operation Date
 December 74

 March 80

 July 85
 June 86

 September 85

License Expiration Date
 5/20/34

 7/17/38

 11/1/24
 8/29/25

 12/18/24

Architect/Engineer
Bechtel Power

Bechtel Power

Bechtel Power
 Stone & Webster

Ebasco

Reactor Manufacturer
Babcox &

Combustion

General
General

Combustion

 
Wilcox

Engineering

Electric
Electric

Engineering

Reactor Type
PWR

PWR

BWR
BWR

PWR

Turbine Generator Manufacturer
Westinghouse

General Electric

Kraftwerk Union
General Electric

Westinghouse

Owned and Leased Capability (MW)(a)
826

983

1,261
968

1,160

Refueling Data:
 

 

 
 

 

Last Date
1/25/15 –

9/20/15 –

2/19/16 –
2/22/15 –

10/25/15 –

 
3/1/15

11/14/15

3/28/16
3/29/15

12/16/15

Number of Days
37

55

39
35

53

Next Scheduled Refueling
Fall 16

 Spring 17

Spring 18
 Spring 17

Spring 17

2015 Capability Factor (%)
92.6

89.0

                           88.6
89.2

                           88.0

($ millions as of December 31, 2015)
 
 
 
 
 
Net Book Value
1,357(b)
                         1,769
1,441(c)

                         2,058

Decommissioning Trust Fair Values
771(b)
                            702
652(c)

                            391

Decommissioning Liability
859(b)
                            803
459(c)

                            539

(a) Owned and Leased Capability is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize.
 
(b) ANO Units 1 and 2 are reported together.
(c) 30% of River Bend is not subject to rate regulation by the Public Utility Commission of Texas, the Louisiana Public Service Commission, nor various municipal authorities, and is included in non-utility property on the balance sheet. The decommissioning trust fund balance and decommissioning liability include amounts for the 30% not subject to rate regulation.





UTILITY REGULATORY INFORMATION
 
 
 
 
 
 
STATE REGULATORY COMMISSIONS
 
 
 
 
 
 
 
  ARKANSAS
 LOUISIANA
 MISSISSIPPI
 NEW ORLEANS
 TEXAS
Commission
Arkansas Public
Louisiana
Mississippi
New Orleans
Public Utility
 
Service
Public Service
Public Service
City Council
Commission
 
Commission
Commission
Commission
 
of Texas
Number of Commissioners
 3
 5
 3
 7
 3
Method of Selection
Appointed by
Elected
Elected
Elected
Appointed by
 
Governor
 
 
 
Governor
Term of Office
6 years –
6 years –
4 years –
4 years –
6 years –
 
staggered
staggered
concurrent
concurrent
staggered
 
 
 
 
(2 term limit)
 
Chair/President
Appointed by
Selected by
Rotates every
Rotates annually
Appointed by
 
Governor
peers – 1 year
1 - 2 years, as
from the
Governor
 
 
term
determined by members
at-large positions
 
 
 
 
 
 
 


 COMMISSION/COUNCIL MEMBERS
 
 
 
 
 
 CURRENT
 
 
 
 PARTY
 SERVICE BEGAN
 TERM ENDS
ARKANSAS
 
 
 
 
 
Ted J. Thomas – Chairman
 
 
Republican
1/15
 1/21
Lamar B. Davis
 
 
Democrat
1/15
 1/17
Elana C. Wills
 
 
Nonpartisan
1/11
 1/19
LOUISIANA
 
 
 
 
 
Foster L. Campbell, Jr.
 
 
 Democrat
1/03
12/20
Scott A. Angelle
 
 
Republican
1/13
12/18
Lambert C. Boissiere, III
 
 
 Democrat
1/05
12/16
Eric Skrmetta
 
 
 Republican
1/09
12/20
Clyde C. Holloway - Chairman
 
 
 Republican
4/09
12/16
MISSISSIPPI
 
 
 
 
 
Brandon Presley – Chairman
 
 
Democrat
1/08
12/19
Cecil Brown – Vice-Chairman
 
 
Democrat
1/16
12/19
Sam Britton
 
 
 Republican
1/16
12/19
NEW ORLEANS
 
 
 
 
 
Stacy Head
 
 
 Democrat
5/06
5/18
Jason Rogers Williams - Chairman of Utility Committee
 
 Democrat
5/14
5/18
Susan Guidry
 
 
Democrat
5/10
5/18
LaToya Cantrell
 
 
Democrat
12/12
5/18
Nadine Ramsey
 
 
 Democrat
5/14
5/18
Jared Brossett
 
 
 Democrat
5/14
5/18
James Gray II
 
 
Democrat
12/12
5/18
TEXAS
 
 
 
 
 
Donna L. Nelson – Chairman
 
 
 Republican
8/08
8/21
Kenneth W. Anderson Jr.
 
 
 Republican
9/08
 8/17
Brandy Marty Marquez
 
 
 Republican
8/13
9/19
 
 
 
 
 
 
0





UTILITY ELECTRIC AND GAS FUEL RECOVERY MECHANISMS
 
 
 
 
 
 
 
 
DEFERRED FUEL* BALANCE AS OF DECEMBER 31,
COMPANY
 2015
 2014
 2013
 2012
 2011
 FUEL RECOVERY MECHANISM
 
 
 
 
 
($ millions)
 
EAI(b)
       57.8
     209.2
       68.7
       97.3
     209.8
Annual reset in April based on prior calendar year fuel and purchased power costs adjusted for nuclear refueling outages and projected sales plus any under- or over-recovered fuel balance for the prior calendar year.
ELL(a)
     102.9
     107.1
     147.3
     193.8
         4.4
Electric: Monthly reset based on fuel and purchased power costs from two months prior plus surcharge or credit for 1/12 of under- or over-recovered fuel balance.
 
 
 
 
 
 
Gas: Monthly reset by taking the over- or under- recovered balance at the end of June and dividing by the based on estimated gas costs plus a surcharge with an annual reset calculated projected sales for the next 12 months.
EMI
   (107.8)
       (2.2)
       38.1
       26.5
     (15.8)
Annual reset based on projected fuel and purchased power costs and projected sales plus any under- or over-recovered energy costs as of the 12-month period ended September 30.
ENOI(a)
     (24.9)
     (24.3)
     (19.1)
         1.9
       (7.5)
Electric: On April 2, 2009 the New Orleans City Council approved a new Fuel Adjustment Clause tariff that calculates a monthly rate based on fuel and purchased power costs from two months prior. A surcharge or credit will be calculated on any under- or over-recovered fuel balance based on the most recent 12 months actual kWh sales. Under the new tariff Grand Gulf non-fuel costs are recovered through base rates. Any incremental monthly Grand Gulf non-fuel costs are included in the Fuel Adjustment Clause. Resource Plan non-fuel costs are collected through the Fuel Adjustment Clause. The new tariff became effective on June 1, 2009.
 
 
 
 
 
 
Gas: Monthly reset based on estimated gas costs plus a surcharge or credit for the under- or over-recovered fuel balance based on the most recent 12 months Mcf sales.
ETI
     (25.1)
       11.9
       (4.1)
     (93.3)
     (64.7)
Semi-annual reset of fuel factor in March and September based on the market price of natural gas plus surcharge or refund for material under- or over-recoveries based on actual costs.
Total
         2.9
     301.7
     230.9
     226.2
     126.2
 
Totals may not foot due to rounding.
 
 
 
 
(a) All years include $168.1 million for Entergy Louisiana and $4.1 million for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be over a period greater than twelve months.
(b) 2014 includes $65.9 million for Entergy Arkansas of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be over a period greater than twelve months.
* Deferred fuel costs = revenues collected minus current fuel and purchased power costs; amount includes rough production cost equalization payments/receipts due to/from customers for EAI, ETI and ENOI.
 
 
 
 
 
 
 





ENTERGY WHOLESALE COMMODITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EWC QUARTERLY FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
2015
2014
YTD

 
 1Q

 2Q

 3Q

 4Q

 YTD

 1Q

 2Q

 3Q

 4Q

 YTD

  % CHANGE
GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
As-Reported Net Income ($ millions)
122.9

(4.1
)
(1,032.0
)
(154.7
)
(1,067.8
)
241.9

25.9

(33.2
)
57.1

292.3(a)

(465
)
Return on Average Invested Capital – As-Reported (%)*
3.8

3.0

(18.5
)
(21.9
)
(21.9
)
4.4

4.3

5.6

5.9

5.9

(471
)
Return on Average Common Equity – As-Reported (%)*
3.7

2.9

(19.9
)
(24.2
)
(24.2
)
4.3

4.2

5.6

5.9

5.9

(510
)
Debt to Capital Ratio (%)
6.5

5.5

7.0

9.0

9.0

2.2

1.9

2.9

5.8

5.8

55

NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
Operational Adjusted EBITDA ($ millions)
254

62

129

70

515

455

145

165

183

950

(46
)
Operational Earnings ($ millions)
127.5

(3.0
)
31.7

28.3

184.6

248.5

33.4

40.8

70.8

394.1(a)

(53
)
Return on Average Invested Capital – Operational (%)*
5.8

4.8

5.4

4.3

4.3

9.0

8.7

8.1

7.8

7.8

(45
)
Return on Average Common Equity – Operational (%)*
5.9

4.8

5.3

4.2

4.2

9.0

8.7

8.2

8.0

8.0

(48
)
Net Debt to Net Capital Ratio (%)
(0.9
)
2.4

2.6

(10.3
)
(10.3
)
(4.7
)
(4.7
)
(3.0
)
(2.3
)
(2.3
)
348

*Rolling twelve months.
 
 
 
 
 
 
 
 
 
 
 
  Certain prior year data has been reclassified to conform with current year presentation.
 Totals may not foot due to rounding.
(a) In 4Q14, a Parent subsidiary was restructured and became a subsidiary of EWC. The net income from this subsidiary is included in the 4Q and YTD totals for EWC; however, income from 1Q-3Q was not reclassified due to immateriality.
 
 
 
 
 
 
 
 
 
 
 
 


EWC ANNUAL FINANCIAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 2015

 
 2014

 
 2013

 
 2012

 
 2011

GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
As-Reported Net Income ($ millions)
 
 
(1,067.8
)
 
292.3

 
42.9

 
40.4

 
488.6

Return on Average Invested Capital – As-Reported (%)
 
 
(21.9
)
 
5.9

 
1.0

 
0.9

 
9.1

Return on Average Common Equity – As-Reported (%)
 
 
(24.2
)
 
5.9

 
0.9

 
0.8

 
9.7

Debt to Capital Ratio (%)
 
 
9.0

 
5.8

 
4.0

 
2.1

 
3.6

NON-GAAP MEASURES
 
 
 
 
 
 
 
 
 
 
 
Operational Adjusted EBITDA ($ millions)
 
 
515

 
950

 
553

 
618

 
862

Operational Earnings ($ millions)
 
 
184.6

 
394.1

 
262.7

 
263.9

 
488.6

Return on Average Invested Capital – Operational (%)
 
 
4.3

 
7.8

 
5.3

 
5.0

 
9.1

Return on Average Common Equity – Operational (%)
 
 
4.2

 
8.0

 
5.3

 
5.0

 
9.7

Net Debt to Net Capital Ratio (%)
 
 
(10.3
)
 
(2.3
)
 
0.5

 
(0.6
)
 
(2.2
)
 Certain prior year data has been reclassified to conform with current year presentation.







EWC QUARTERLY OPERATIONAL METRICS
 
2015
2014
 YTD

 
 1Q

 2Q

 3Q

 4Q

 YTD

 1Q

 2Q

 3Q

 4Q

 YTD

 % CHANGE

Owned Capacity (MW) (b)
5,463

5,463

5,463

4,880

4,880

6,068

6,068

6,068

6,068

6,068

(20
)
Net revenue ($ millions)
527

350

410

379

1,666

748

471

485

521

2,224

(25
)
As-Reported Average Total Revenue per MWh

$67.00


$45.87


$48.54


$45.21


$51.88


$91.08


$50.11


$53.47


$54.00


$61.21

(15
)
Adjusted Average Total Revenue per MWh

$66.60


$45.47


$48.19


$44.83


$51.49


$90.68


$49.75


$53.11


$53.64


$60.84

(15
)
Adjusted Average Total Revenue per MWh excluding VY

$66.60


$45.47


$48.19


$44.83


$51.49


$86.48


$50.49


$55.28


$54.26


$60.65

 
As-Reported Non-Fuel O&M Expense per MWh

$25.89


$25.97


$23.79


$27.67


$25.99


$26.28


$25.83


$26.07


$27.44


$26.39

(2
)
Operational Non-Fuel O&M Expense per MWh (a)

$25.11


$25.80


$23.63


$27.06


$25.57


$25.50


$24.99


$25.18


$25.78


$25.34

1

Billed GWh
9,592

9,578

10,748

10,135

39,745

10,014

11,533

11,328

11,550

44,424

(11
)
EWC Nuclear
 
 
 
 
 
 
 
 
 
 
 
 As-Reported Average Total Revenue per MWh

$65.78


$45.84


$50.41


$44.71


$51.49


$89.31


$50.18


$53.66


$53.56


$60.76

(15
)
 Adjusted Average Total Revenue per MWh

$65.34


$45.40


$49.99


$44.31


$51.07


$88.86


$49.79


$53.24


$53.17


$60.35

(15
)
 Adjusted Average Total Revenue per MWh excluding VY

$65.34


$45.40


$49.99


$44.31


$51.07


$83.85


$50.61


$55.78


$53.79


$60.07

(15
)
 Production Cost/MWh (a)

$25.61


$26.21


$26.90


$22.63


$25.30


$26.39


$25.88


$27.37


$26.18


$26.44

(4
)
 As-Reported Non-Fuel O&M Expense per MWh

$27.87


$28.04


$26.99


$27.00


$27.46


$27.81


$26.82


$29.18


$28.80


$28.15

(2
)
 Operational Non-Fuel O&M Expense per MWh (a)

$27.00


$27.86


$26.80


$26.35


$26.98


$26.95


$25.91


$28.16


$27.00


$26.99


 Billed GWh
8,618

8,555

9,125

9,561

35,859

9,079

10,588

9,950

10,635

40,253

(11
)
 Capacity Factor
90%

89%

92%

94%

91%

82%

95%

90%

95%

91%


(a) Excludes the effect of special items: HCM implementation expenses, decisions to close VY, FitzPatrick and Pilgrim, Palisades asset impairment and related write-offs
     Certain prior year data has been reclassified to conform with current year presentation.
(b) Vermont Yankee plant ceased power production on 12/29/14.
   Totals may not foot due to rounding.


EWC ANNUAL OPERATIONAL METRICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 2015
 
 2014
 
 2013
 
 2012
 
 2011
Owned Capacity (MW) (a)
 
 
         4,880
 
         6,068
 
         6,068
 
         6,612
 
              6,599
 Net revenue ($ millions)
 
 
         1,666
 
         2,224
 
         1,802
 
         1,854
 
              2,045
 As-Reported Average Total Revenue per MWh
 
 
 $ 51.88
 
 $ 61.21
 
 $ 51.25
 
 $ 50.38
 
 $ 55.49
 Adjusted Average Realized Revenue/MWh
 
 
 $ 51.49
 
 $ 60.84
 
 $ 50.86
 
 $ 50.02
 
 $ 54.50
 As-Reported Non-Fuel O&M Expense per MWh
 
 
 $ 25.99
 
 $ 26.39
 
 $ 26.14
 
 $ 23.66
 
 $ 24.28
 Operational Non-Fuel O&M Expense per MWh
 
 
 $ 25.57
 
 $ 25.34
 
 $ 25.32
 
 $ 23.66
 
 $ 24.28
 Billed GWh
 
 
       39,745
 
       44,424
 
       45,127
 
       46,178
 
            43,497
EWC Nuclear
 
 
 
 
 
 
 
 
 
 
 
Net MW in Operation (a)
 
 
         4,406
 
         5,011
 
         5,011
 
         5,011
 
              4,998
 As-Reported Average Total Revenue per MWh
 
 
 $ 51.49
 
 $ 60.76
 
 $ 50.59
 
 $ 50.69
 
 $ 55.78
 Adjusted Average Realized Revenue/MWh
 
 
 $ 51.07
 
 $ 60.35
 
 $ 50.15
 
 $ 50.29
 
 $ 54.73
 Production Cost/MWh
 
 
 $ 25.30
 
 $ 26.44
 
 $ 26.35
 
 $ 26.19
 
 $ 25.21
 As-Reported Non-Fuel O&M Expense per MWh
 
 
 $ 27.46
 
 $ 28.15
 
 $ 28.54
 
 $ 25.45
 
 $ 25.25
 Operational Non-Fuel O&M Expense per MWh
 
 
 $ 26.98
 
 $ 26.99
 
 $ 27.63
 
 $ 25.45
 
 $ 25.25
Billed GWh
 
 
       35,859
 
       40,253
 
       40,167
 
       41,042
 
            40,918
Capacity Factor
 
 
91%
 
91%
 
89%
 
89%
 
93%
 (a) Vermont Yankee plant ceased power production on 12/29/14
 
 
      Certain prior year data has been reclassified to conform with current year presentation.
      Totals may not foot due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 







TOTAL CAPACITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 OPERATED (a)
 
 
 
 
 
OWNED CAPACITY
As of December 31, 2015
 
 PLANTS
 UNITS
 MW
 
 
 
 
 MW

 %

Gas/Oil
 
 
 
 
 
213

4

Coal
 
 
 
 
 
181

4

Total Fossil
 
 
 
 
 
394

8

Wind
 
 
 
 
 
80

2

Nuclear
 
5
6
5,206

 
 
 
 
4,406

90

Total Capacity
 
5
6
5,206

 
 
 
 
4,880

100

 (a) Operated capacity includes management services contracts and excludes units operated by Entergy’s utility companies.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ENTERGY WHOLESALE COMMODITIES
 
 
 
 
 
 
 
EWC NUCLEAR PLANT STATISTICS
 
 
 
 
 
 
 
 
 
 
 
 
 
JAMES A.

INDIAN POINT
PALISADES

PILGRIM

VERMONT

 
FITZPATRICK (j)

UNIT 2

UNIT 3

NUCLEAR PLANT

NUCLEAR STATION (j)

YANKEE(e)

Entergy Purchase Date
 11/21/00

 9/6/01

 11/21/00

 4/11/07

 7/13/99

 7/31/02

Commercial Operation Date
 July 75

 August 74

 August 76

 December 71

 December 72

 November 72

License Expiration Date
 10/17/34

9/28/13 (f)

12/12/15 (f)

 3/24/31

 6/8/32

 3/21/32

Architect/Engineer
Stone &

United

United

Combustion

Bechtel

Ebasco

 
Webster

Engineers &

Engineers &

Engineering

Power

 

 
 
Constructors

Constructors

 
 
 
Reactor Manufacturer
General

Westinghouse

Westinghouse

Combustion

General

General

 
Electric

 
 
Engineering

Electric

Electric

Reactor Type
BWR

PWR

PWR

PWR

BWR

BWR

Turbine Generator Manufacturer
General Electric

Westinghouse

Westinghouse

Westinghouse

General Electric

General Electric

Net MWs in Operation (MW)
838

1,028

1,041

811

688


(as of December 31, 2015)
 

 

 

 

 

 

Refueling Data:
 

 

 

 

 

 

Last Date
 8/24/14 –

 3/7/16 –

3/2/15 –

 9/18/15 –

 4/19/15 –

 3/9/13 –

 
10/8/14

6/16/16

3/24/15

 10/19/15

 5/23/15

 4/5/13

Number of Days
44

102

23

32

34

27

Next Scheduled Refueling
 n/a

 Spring 18

 Spring 17

 Spring 17

Spring 17

n/a

2015 Capacity Factor
87%

86%

97%

97%

95%

0%

Spent Fuel Storage Thru
2002

2006

2009

1991

2015

n/a  

Begin Dry Cask Loading
2002

2007

2010

1993

2014

n/a

($ millions as of December 31, 2015)
 

 

 

 

 

Net Book Value
19 (g)

894

968

392 (i)

49 (h)

0 (e)

Decommissioning Trust Fair Values
746 (a)

943 (b)

684 (a)

                            385

                            896

                            611

Decommissioning Liability
 (a)

588 (b)

(a)

370

551

560

Nearest Market Hub
NYISO

 NYISO

 NYISO

MISO

NEPOOL

NEPOOL

 
Zone A(c)

Zone G(d)

Zone G(d)

Indiana

Mass Hub

Mass Hub

Capacity Zone (ICAP/UCAP)
NYISO

NYISO

 NYISO

MISO

NEPOOL

NEPOOL

 
Rest of State

Lower Hudson Valley

Lower Hudson Valley

 

 

 

(a) NYPA retained the decommissioning trusts and decommissioning liability. NYPA and Entergy executed decommissioning agreements, specifying their decommissioning obligations. NYPA has the right to require Entergy to assume the decommissioning liability provided that it assigns the corresponding decommissioning trust, up to a specified level, to Entergy. If the decommissioning liability is retained by NYPA, Entergy will perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. Entergy believes that the amounts available to it under either scenario are sufficient to cover the future decommissioning costs without any additional contributions to the trusts.
(b) Includes amount for Indian Point 1. Indian Point 1 has been shut down and in safe storage since the 1970s.
(c) James A. FitzPatrick physically located in NYISO Zone C.
(d) Indian Point physically located in NYISO Zone H.
(e) Vermont Yankee plant ceased power production on 12/29/14.
(f) Indian Point Unit 2 began operating under timely renewal on 9/28/13; Unit 3 began operating under timely renewal on 12/13/15
(g) Reflects $965 million ($624 million net of tax) of impairment and other related charges to write down the carrying value of FitzPatrick and related assets to their fair values.
  See pgs. 69-72 of the 2015 10K for more detail.
(h) Reflects $677 million ($438 million net of tax) of impairment and other related charges to write down the carrying value of Pilgrim and related assets to their fair values.
  See pgs. 69-72 of the 2015 10K for more detail.
(i) Reflects $396 million ($256 million net of tax) of impairment and other related charges to write down the carrying value of Palisades and related assets to their fair values.
  See pgs. 69-72 of the 2015 10K for more detail.
(j) Shutdown of FitzPatrick is planned for 1/27/17 and shutdown of Pilgrim is planned for 5/31/19.









EWC NON-NUCLEAR WHOLESALE ASSETS PLANT STATISTICS
 
 
 NERC
 COMMERCIAL
 OWNERSHIP
 NET
 TOTAL
 FUEL TYPE
PLANT
 LOCATION
 REGION
 OPERATION
 INTEREST
 MW
 MW
 TECHNOLOGY
Independence – Unit 2
 Newark, AR
 SERC
1983
14%
121
842
 Coal
Nelson 6
 Westlake, LA
 SERC
1982
11%
60
550
 Coal
RS Cogen
 Lake Charles, LA
 SERC
2002
50%
213
425
 CCGT Cogen
Top of Iowa
 Worth County, IA
MRO
2001
50%
40
80
 Wind
White Deer
 Amarillo, TX
 SPP
2001
50%
40
80
 Wind
 Total
 
 
 
 
474
1,977
 
 
 
 
 
 
 
 
 


EWC NON-NUCLEAR WHOLESALE ASSETS PLANT EMISSIONS
 
 
 
 
 
 
 
 
 
 
 
Emissions
 
 FUEL TYPE
 
SO2

NOx

CO2

Hg(a)

 
PLANT
 TECHNOLOGY
 PURPOSE
(tons)

(tons)

(tons)

(lbs)

TECHNOLOGY(b)
Independence – Unit 2
 Coal
 Base
1,022

430

386,598

20

OFA, ESP
Nelson 6
 Coal
 Base
885

339

287,909

16

LNB w Sep OFA, ESP
RS Cogen
 CCGT Cogen
 Base
4

379

869,748

79

Dry LNB/SCR
Top of Iowa
 Wind
 Renewable




0
White Deer
 Wind
 Renewable




0
Rhode Island State Energy Center (b)
CCGT
Intermediate
4

48

761,567


Dry LNB/SCR
(a) Mercury emissions calculated using 2015 unit heat input and 5.37 x 10-6 lb hg/MMBtu emission rate for coal plants and 8.0 x 10-10 lb hg/MMBtu emission rate for natural gas plants.
(b) Entergy sold the Rhode Island State Energy Center, a 583-MW CCGT, on 12/17/15.
(c) Installed NOx and particulate matter emission control devices as stated in the EPA Monitoring Plan and operational: Combustion Modification/ Fuel Reburning (Combus Mod / Fuel Reburn),
     Dry Low NOx Burners (Dry LNB), Electrostatic Precipitator (ESP), Low NOx Burners with Closed-coupled Overfire Air (LNB w/ Closed-coupled OFA), Low NOx Burners with
     Separated Overfire Air (LNB w/ Sep OFA), Low NOx Burner with Overfire Air (LNB w/ OFA),Overfire Air (OFA), Selective Catalytic Reduction (SCR) or Steam Injection. Currently have no SO2, CO2
     or Mercury Control equipment operating on any unit.
Totals may not foot due to rounding.
 
 
 
 
 
 
 
 





ENTERGY WHOLESALE COMMODITIES
 
 
 
 
 
 
 
 
 
EWC NUCLEAR SECURITIES DETAIL
LONG-TERM DEBT:
NOTE TO NEW YORK POWER AUTHORITY (NYPA) RELATING TO THE PURCHASE OF FITZPATRICK AND INDIAN POINT 3
 
 
 
 
 
 
 
 
 
 
 
 
ADDITIONAL LTD

 
TOTAL ENDING
 
 
TOTAL

 
 
INTEREST

RELATED TO

INTEREST

 
LONG-TERM

 
INTEREST

($ thousands)
LONG-TERM DEBT(a)

EXPENSE

PURCHASE OF IP2

EXPENSE

 
DEBT

 
EXPENSE

 2010
137,026

7,255

18,945

1,173

 
155,971

 
8,428

 2011
123,669

6,643

9,694

750

 
133,363

 
7,393

 2012
109,681

6,012


305

 
109,681

 
6,317

 2013
95,011

5,331



 
95,011

 
5,331

 2014
79,638

4,627



 
79,638

 
4,627

 2015
29,262

2,972



 
29,262

 
2,972

 2016
28,252

1,490



 
28,252

 
1,490

 2017
26,467

1,441



 
26,467

 
1,441

 2018
25,358

1,390



 
25,358

 
1,390

 2019
24,195

1,337



 
24,195

 
1,337

 2020
22,976

1,281



 
22,976

 
1,281

 2021 – 2035 Average

690



 

 
690

(a) Includes plant, fuel, and license extension payments. Payments for plant and fuel are made annually on 11/21 (anniversary of close).
  Life extension payments made on anniversary of license expiration. Entergy will pay NYPA $2.5 million annually per plant, for up to twenty years if
 FitzPatrick and/or Indian Point 3 operate beyond their original license date.
(b) FitzPatrick's debt obligation was partially extinguished at December 31, 2015 based on the decision to suspend operations in January 2017
Totals may not foot due to rounding.


EWC NON-NUCLEAR WHOLESALE ASSETS
 
 
 
 
 
 
 
 
 
 
EWC NON-NUCLEAR WHOLESALE ASSETS SECURITIES DETAIL
 
DEBT:
 
 
 
 
 
 
 
 
OUTSTANDING AS OF DECEMBER 31,
 
(ENTERGY’S SHARE)
 
2015
2014
 
 MATURITY
 
 RATE
 
 
 
 
 
 
 
 
 
 
RS Cogen Senior Project Debt
 
 
 
 
 
 
 
  Bank Portion(a)
 
 $19
 $25
 
 10/17/18
 
 LIBOR + 2.25%
 
  Institutional Portion
 
 $38
 $38
 
 10/15/22
 
 Fixed 8.73%
 
RS Cogen Subordinated Debt(b)
 $20
 $19
 
 10/17/17
 
 LIBOR + 4.50%
 
 (a) RS Cogen spread on bank portion increases over time from 1.375% to 2.375%.
 
(b) Debt outstanding includes Entergy's portion of accrued but unpaid interest on Entergy's portion of the RS Cogen subordinated debt since the project went into default on the subordinated credit facility in 2008.







 
 
 
 
 
 
 
 
 
 
 SHARES OUTSTANDING
 
 
PREFERRED STOCK:
 
 
 AS OF DECEMBER 31,
 AS OF DECEMBER 31,
 
 
 RATE
2015
2014
2015
2014
 
 
 
 
 
 
 
Without Sinking Fund:
 
 
 
 
 
 
   Entergy Finance Holding, Inc.
8.75%(a)
                    250,000
         250,000
 $ 24
 $ 24
       Authorized 250,000 shares, $100 par value, cumulative
 
 
 
 
Total without sinking fund
 
                    250,000
         250,000
 $ 24
 $ 24
 (a) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs.
 
 
 
 
 
 
 
 
 
 
 
 
 
 







DEFINITIONS OF OPERATIONAL MEASURES AND GAAP AND NON-GAAP FINANCIAL MEASURES
 
 
OPERATIONAL MEASURES
 
Owned capacity (MW)
Installed capacity owned and operated by EWC, including investments in wind generation accounted for under the equity method of accounting; in November 2013, R.E. Ritchie Unit 2 (gas/oil) plant was retired (544 MWs) and the Vermont Yankee (nuclear) plant ceased power production on December 29, 2014. Rhode Island State Energy Center was sold on December 17, 2015.
As-reported average total revenue per MWh
As-reported average revenue per MWH bill, excluding revenue from investments in wind generation accounted for under the equity method of accounting
Adjusted average realized revenue per MWh
As-reported average revenue per MWh billed, excluding revenue from the amortization of the Palisades below-market PPA
Non-fuel O&M per MWh
Non-fuel O&M per MWH of billed sales
Production cost per MWh
Fuel and non-fuel O&M expenses according to accounting standards that directly relate to the production of electricity per MWh (based on net generation), excluding special items
Billed GWh
Total number of GWh billed to customers, excluding investments in wind generation accounted for under
 the equity method of accounting and financially-settled instruments
Capability factor
The percentage of the maximum energy generation a plant is capable of supplying to the grid, limited
 
 only by factors within control of plant management; a high capability factor indicates effective plant
 
 programs and practices to minimize unplanned energy losses and to optimize planned outages
Capacity factor
Normalized percentage of the period that the nuclear plants generate power
Refueling outage days
Number of days lost for scheduled refueling outage during the period
 
 
Financial measures defined below include measures prepared in accordance with generally accepted accounting principles (GAAP), as well as non-GAAP measures.
Non-GAAP measures are included in this report in order to provide metrics that remove the effect of less routine financial impacts from commonly used financial metrics.
 
 
FINANCIAL MEASURES – GAAP
 
As-reported non-fuel O&M
Operation, maintenance and refueling expenses, excluding fuel, fuel-related expenses, purchased power and gas purchased for resale; for EWC excludes investments in wind generation accounted for under the equity method of accounting
Return on average invested capital – as-reported
12-months rolling net income attributable to Entergy Corporation or Subsidiary (Net Income) adjusted for preferred dividends and tax-effected interest expense divided by average invested capital
Return on average common equity – as-reported
12-months rolling Net Income divided by average common equity
Book value per share
End of period common equity divided by end of period shares outstanding
Revolver capacity
Amount of undrawn capacity remaining on corporate and subsidiary revolvers, including Entergy Nuclear Vermont Yankee
Total debt
Sum of short-term and long-term debt, notes payable and commercial paper and capital leases on the balance sheet
Debt of joint ventures - Entergy’s share
Entergy's share of debt issued by business joint ventures at EWC
Leases - Entergy’s share
Operating leases held by subsidiaries capitalized at implicit interest rate
Debt to capital ratio
Total debt divided by total capitalization
Securitization debt
Debt associated with securitization bonds issued to recover storm costs from hurricanes Rita, Ike and Gustav at Entergy Texas and Hurricane Isaac at Entergy New Orleans; the 2009 ice storm at Entergy Arkansas; and investment recovery of costs associated with the canceled Little Gypsy repowering project at Entergy Louisiana
 
 
FINANCIAL MEASURES – NON-GAAP
 
Operational earnings
As-reported Net Income adjusted to exclude the impact of special items
Operational adjusted EBITDA
Earnings before interest, depreciation and amortization and income taxes excluding decommissioning expense and other than temporary impairment losses on decommissioning trust fund assets, excluding effects of special items; for Entergy consolidated, also excludes AFUDC-equity funds and subtracts securitization proceeds
Operational non-fuel O&M
Operation, maintenance and refueling expenses, excluding fuel, fuel-related expenses, purchased power and special items; for Utility, excludes gas purchased for resale; for EWC excludes investments in wind generation accounted for under the equity method of accounting
Return on average invested capital – operational
12-months rolling operational Net Income adjusted for preferred dividends and tax-effected interest expense divided by average invested capital
Return on average common equity – operational
12-months rolling operational Net Income divided by average common equity
Gross liquidity
Sum of cash and revolver capacity
Debt to capital ratio, excluding securitization debt
Total debt divided by total capitalization, excluding securitization debt
Net debt to net capital ratio, excluding securitization debt
Total debt less cash and cash equivalents divided by total capitalization less cash and cash equivalents, excluding securitization debt





Parent debt to total debt ratio, excluding securitization debt
End of period Entergy Corporation debt, including amounts drawn on credit revolver and commercial paper facilities, as a percent of total debt excluding securitization debt
Debt to operational EBITDA, excluding securitization debt
End of period total debt excluding securitization debt divided by 12-months rolling operational adjusted EBITDA
Operational FFO
Funds from operations; net cash flow provided by operations less AFUDC-borrowed funds, working capital items in operating cash flow (receivables, fuel inventory, accounts payable, prepaid taxes and taxes accrued, interest accrued and other working capital accounts) and securitization regulatory charge, excluding effects of special items
Operational FFO to debt ratio, excluding securitization debt
12-months rolling operational FFO as a percentage of end of period total debt excluding securitization debt





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
 
 
 
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Net Income (A)
(177
)
941

712

847

1,346

Preferred dividends
20

20

19

22

21

Tax-effected interest expense
396

386

371

350

316

As-Reported Net Income adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
239

1,347

1,102

1,219

1,683

 
 
 
 
 
 
Special items (C)
(1,253
)
(109
)
(245
)
(262
)
(13
)
 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
1,492

1,456

1,347

1,481

1,696

 
 
 
 
 
 
Operational earnings (A-C)
1,076

1,050

957

1,109

1,359

 
 
 
 
 
 
Average invested capital (D)
23,827

23,864

23,167

22,180

21,074

 
 
 
 
 
 
Average common equity (E)
9,632

9,820

9,415

9,079

8,729

 
 
 
 
 
 
($ per share)
 
 
 
 
 
As-Reported earnings per share (N)
(0.99
)
5.22

3.99

4.76

7.55

 
 
 
 
 
 
Operational earnings per share (O)
6.00

5.83

5.36

6.23

7.62

 
 
 
 
 
 
Common dividend paid per share (P)
3.34

3.32

3.32

3.32

3.32

 
 
 
 
 
 
Year-end closing market price per share of common stock (Q)
68.36

87.48

63.27

63.75

73.05

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
1.0

5.6

4.8

5.5

8.0

Return on average invested capital – Operational ((B-C)/D)
6.3

6.1

5.8

6.7

8.1

 
 
 
 
 
 
Return on average common equity – As-Reported (A/E)
(1.8
)
9.6

7.6

9.3

15.4

Return on average common equity – Operational ((A-C)/E)
11.2

10.7

10.2

12.2

15.6

 
 
 
 
 
 
 
 
 
 
 
 
Common dividend payout ratio – As-Reported (%) (P/N)
(339
)
64

83

70

44

Common dividend payout ratio – Operational (%) (P/O)
56

57

62

53

44

 
 
 
 
 
 
Price to earnings ratio – As-Reported (Q/N)
(69.37
)
16.77

15.87

13.39

9.68

Price to earnings ratio – Operational (Q/O)
11.38

15.02

11.80

10.23

9.59

 
 
 
 
 
 
As reported non-fuel O&M (R)
3,606

3,578

3,589

3,291

3,123

 
 
 
 
 
 
Special items included in non-fuel O&M
 
 
 
 
 
  HCM implementation expenses

(16
)
(45
)


  Decisions to close VY, FitzPatrick and Pilgrim
(17
)
(44
)
(21
)


  Transmission business spin-merge expenses


(36
)
(39
)
(13
)
Total special items included in non-fuel O&M (S)
(17
)
(59
)
(101
)
(39
)
(13
)
 
 
 
 
 
 
Operational non-fuel O&M (R-S)
3,623

3,637

3,690

3,330

3,136

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

As-Reported Net Income (A)
838

797

(156
)
(177
)
952

977

968

941

Preferred dividends
20

20

19

20

18

19

19

20

Tax-effected interest expense
389

391

396

396

376

381

383

386

As-Reported Net Income adjusted for preferred
 
 
 
 
 
 
 
 
  dividends and tax-effected interest expense (B)
1,247

1,208

259

239

1,346

1,377

1,370

1,347

 
 
 
 
 
 
 
 
 
Special items (C)
(105
)
(95
)
(1,085
)
(1,253
)
(248
)
(243
)
(127
)
(109
)
 
 
 
 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
1,352

1,303

1,344

1,492

1,594

1,620

1,497

1,456

 
 
 
 
 
 
 
 
 
Operational earnings (A-C)
943

892

929

1,076

1,200

1,220

1,095

1,050

 
 
 
 
 
 
 
 
 
Average invested capital (D)
24,298

24,190

23,819

23,827

23,539

23,680

23,720

23,864

 
 
 
 
 
 
 
 
 
Average common equity (E)
10,041

10,110

9,653

9,632

9,581

9,668

9,779

9,820

 
 
 
 
 
 
 
 
 
(%)
 
 
 
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
5.1

5

1.1

1

5.7

5.8

5.8

5.6

Return on average invested capital – Operational ((B-C)/D)
5.6

5.4

5.6

6.3

6.8

6.8

6.3

6.1

 
 
 
 
 
 
 
 
 
Return on average common equity – As-Reported (A/E)
8.3

7.9

(1.6
)
(1.8
)
9.9

10.1

9.9

9.6

Return on average common equity – Operational ((A-C)/E)
9.4

8.8

9.6

11.2

12.5

12.6

11.2

10.7

 
 
 
 
 
 
 
 
 
As reported non-fuel O&M (F)
835

895

921

955

795

882

914

988

 
 
 
 
 
 
 
 
 
Special items included in non-fuel O&M
 
 
 
 
 
 
 
 
  HCM implementation expenses




(5
)
(7
)
(1
)
(3
)
  Decisions to close VY, FitzPatrick and Pilgrim
(7
)
(2
)
(2
)
(6
)
(7
)
(9
)
(10
)
(18
)
Total special items included in non-fuel O&M (G)
(7
)
(2
)
(2
)
(6
)
(12
)
(16
)
(11
)
(21
)
 
 
 
 
 
 
 
 
 
Operational non-fuel O&M (F-G)
842

897

923

961

807

898

925

1,009

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

Total debt (A)
13,850

13,917

13,562

13,358

12,283

Less securitization debt (B)
775

777

883

973

1,071

  Total debt, excluding securitization debt (A-B)
13,075

13,140

12,679

12,385

11,212

Less cash and cash equivalents (C)
1,351

1,422

739

533

694

  Net debt, excluding securitization debt (A-B-C)
11,724

11,718

11,940

11,852

10,518

Total capitalization (D)
23,425

24,229

23,499

22,836

21,525

Less securitization debt (E)
775

777

883

973

1,071

  Total capitalization, excluding securitization debt (D-E)
22,650

23,452

22,616

21,863

20,454

Less cash and cash equivalents (F)
1,351

1,422

739

533

694

  Net capitalization, excluding securitization debt (D-E-F)
21,299

22,030

21,877

21,330

19,760

(%)
 
 
 
 
 
Debt to capital ratio (A/D)
59.1

57.4

57.7

58.5

57.1

Debt to capital ratio, excluding securitization debt ((A-B)/D-E))
57.7

56.0

56.1

56.6

54.8

Net debt to net capital ratio, excluding securitization debt ((A-B-C)/(D-E-F))
55.0

53.2

54.6

55.6

53.2

 
 
 
 
 
 
Revolver capacity (G)
3,582

3,592

3,977

3,462

2,001

 
 
 
 
 
 
Gross liquidity (C+G)
4,933

5,014

4,716

3,995

2,695

 
 
 
 
 
 
Entergy Corporation notes:
 
 
 
 
 
  Due September 2015

550

550

550

550

  Due January 2017
500

500

500

500


  Due September 2020
450

450

450

450

450

  Due July 2022
650





    Total parent long-term debt (H)
1,600

1,500

1,500

1,500

1,000

Revolver draw (I)
835

695

255

795

1,920

Commercial paper (J)
422

484

1,045

665


 
 
 
 
 
 
Total parent debt (H)+(I)+(J)
2,857

2,679

2,800

2,960

2,920

 
 
 
 
 
 
Parent debt to total debt ratio, excluding securitization debt % ((H)+(I)+(J))/(A-B)
21.9

20.4

22.1

23.9

26.0

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

Total debt (A)
14,044

13,858

14,144

13,850

13,860

13,692

13,673

13,917

Less securitization debt (B)
762

734

814

775

861

832

814

777

  Total debt, excluding securitization debt (A-B)
13,282

13,124

13,330

13,075

12,999

12,860

12,859

13,140

Less cash and cash equivalents (C)
1,181

910

1,041

1,351

908

650

1,069

1,422

  Net debt, excluding securitization debt (A-B-C)
12,101

12,214

12,289

11,724

12,091

12,210

11,790

11,718

Total capitalization (D)
24,483

24,321

23,512

23,425

24,113

24,059

24,127

24,229

Less securitization debt (E)
762

734

814

775

861

832

814

777

  Total capitalization, excluding securitization debt (D-E)
23,721

23,587

22,698

22,650

23,252

23,227

23,313

23,452

Less cash and cash equivalents (F)
1,181

910

1,041

1,351

908

650

1,069

1,422

  Net capitalization, excluding securitization debt (D-E-F)
22,540

22,677

21,657

21,299

22,344

22,577

22,244

22,030

(%)
 
 
 
 
 
 
 
 
Debt to capital ratio (A/D)
57.4

57.0

60.2

59.1

57.5

56.9

56.7

57.4

Debt to capital ratio, excluding securitization debt ((A-B)/D-E))
56.0

55.6

58.7

57.7

55.9

55.4

55.2

56.0

Net debt to net capital ratio, excluding securitization debt ((A-B-C)/(D-E-F))
53.7

53.9

56.7

55.0

54.1

54.1

53.0

53.2

 
 
 
 
 
 
 
 
 
Revolver capacity (G)
3,779

4,158

3,869

3,582

4,077

4,003

3,975

3,592

 
 
 
 
 
 
 
 
 
Gross liquidity (C+G)
4,960

5,068

4,910

4,933

4,985

4,653

5,044

5,014

 
 
 
 
 
 
 
 
 
Entergy Corporation notes:
 
 
 
 
 
 
 
 
  Due September 2015
550

550



550

550

550

550

  Due January 2017
500

500

500

500

500

500

500

500

  Due September 2020
450

450

450

450

450

450

450

450

  Due July 2022


650

650





    Total parent long-term debt (H)
1,500

1,500

1,600

1,600

1,500

1,500

1,500

1,500

Revolver draw (I)
508

271

525

835

115

195

245

695

Commercial paper (J)
762

895

664

422

1,059

909

776

484

 
 
 
 
 
 
 
 
 
Total parent debt (H)+(I)+(J)
2,770

2,666

2,789

2,857

2,674

2,604

2,521

2,679

 
 
 
 
 
 
 
 
 
Parent debt to total debt ratio, excluding securitization debt % ((H)+(I)+(J))/(A-B)
20.9

20.3

20.9

21.9

20.6

20.2

19.6

20.4

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

Total debt (A)
13,850

13,917

13,562

13,358

12,283

Less securitization debt (B)
775

777

883

973

1,071

  Total debt, excluding securitization debt (C)
13,075

13,140

12,679

12,385

11,212

As-reported consolidated net income, rolling 12 months
(157
)
960

731

868

1,367

  Add back: interest expense, rolling 12 months
643

628

604

569

514

Add back: income tax expense, rolling 12 months
(643
)
590

226

31

286

Add back: depreciation and amortization, rolling 12 months
1,337

1,319

1,261

1,145

1,102

  Add back: regulatory charges (credits), rolling 12 months
175

(14
)
46

175

206

Subtract: securitization proceeds, rolling 12 months
137

130

127

132

116

  Subtract: interest and investment income, rolling 12 months
187

148

199

128

129

Subtract: AFUDC - equity funds, rolling 12 months
52

65

66

93

84

Add back: decommissioning expense, rolling 12 months
280

273

242

185

191

  Adjusted EBITDA, rolling 12 months (D)
1,259

3,413

2,718

2,620

3,337

Add back: special item for transmission business spin-merge expenses, rolling 12 months (pre-tax)


36

39

13

  Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)

16

60



Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)
1,658

154

343

356


  Add back: special item for Palisades asset impairment and related write-offs, rolling 12 months (pre-tax)
396





Add back: Top Deer investment impairment, rolling 12 months (pre-tax)
37





  Add back: special item for gain on the sale of RISEC, rolling 12 months (pre-tax)
(154
)




  Operational adjusted EBITDA, rolling 12 months (E)
3,196

3,583

3,157

3,015

3,350

Debt to operational adjusted EBITDA, excluding securitization debt (C)/(E)
4.1

3.7

4.0

4.1

3.3

 
 
 
 
 
 
Net cash flow provided by operating activities, rolling 12 months (F)
3,291

3,890

3,189

2,940

3,129

AFUDC borrowed funds used during construction, rolling 12 months (G)
(27
)
(34
)
(26
)
(37
)
(38
)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
 
 
 
 
 
  Receivables
38

98

(181
)
(14
)
28

  Fuel inventory
(12
)
4

5

(12
)
5

  Accounts payable
(135
)
(13
)
94

(7
)
(132
)
  Prepaid taxes and taxes accrued
82

(63
)
(143
)
55

580

  Interest accrued
(11
)
25

(4
)
1

(34
)
  Other working capital accounts
(114
)
112

(66
)
(152
)
42

  Securitization regulatory charge
107

97

93

94

77

       Total (H)
(45
)
260

(202
)
(35
)
566

FFO, rolling 12 months (F)+(G)-(H)
3,309

3,596

3,365

2,938

2,525

Add back: special item for transmission business spin-merge expenses, rolling 12 months (pre-tax)


36

37

10

Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)

51

24



Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)
55

7

4



Operational FFO, rolling 12 months (I)
3,364

3,654

3,429

2,975

2,535

Operational FFO to debt ratio, excluding securitization debt % (I)/(C)
25.7

27.8

27.0

24.0

22.6

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATED FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

Total debt (A)
14,044

13,858

14,144

13,850

13,860

13,692

13,673

13,917

Less securitization debt (B)
762

734

814

775

861

832

814

777

  Total debt, excluding securitization debt (C)
13,282

13,124

13,330

13,075

12,999

12,860

12,859

13,140

As-reported consolidated net income, rolling 12 months
857

817

(156
)
(157
)
970

996

968

960

  Add back: interest expense, rolling 12 months
632

636

644

643

612

618

623

628

Add back: income tax expense, rolling 12 months
523

494

(35
)
(643
)
326

382

519

590

Add back: depreciation and amortization, rolling 12 months
1,322

1,331

1,333

1,337

1,289

1,323

1,330

1,319

  Add back: regulatory charges (credits), rolling 12 months
(7
)
10

29

175

44

26

16

(14
)
Subtract: securitization proceeds, rolling 12 months
129

130

134

137

132

133

132

130

  Subtract: interest and investment income, rolling 12 months
181

196

186

187

196

180

206

148

Subtract: AFUDC - equity funds, rolling 12 months
61

59

56

52

68

67

66

65

Add back: decommissioning expense, rolling 12 months
277

278

279

280

249

257

264

273

  Adjusted EBITDA, rolling 12 months (D)
3,233

3,181

1,718

1,259

3,094

3,222

3,316

3,413

Add back: special item for transmission business spin-merge expenses, rolling 12 months (pre-tax)




29

16

6


Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)
11

4

3


65

66

55

16

Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)
152

143

1,673

1,658

353

364

186

154

Add back: special item for Palisades asset impairment and related write-offs, rolling 12 months (pre-tax)



396





Add back: Top Deer investment impairment, rolling 12 months (pre-tax)



37





Add back: special item for gain on the sale of RISEC, rolling 12 months (pre-tax)



(154
)




  Operational adjusted EBITDA, rolling 12 months (E)
3,396

3,328

3,394

3,196

3,541

3,668

3,563

3,583

Debt to operational adjusted EBITDA, excluding securitization debt (C)/(E)
3.9

3.9

3.9

4.1

3.7

3.5

3.6

3.7

 
 
 
 
 
 
 
 
 
Net cash flow provided by operating activities, rolling 12 months (F)
3,733

3,699

3,348

3,291

3,412

3,602

3,881

3,890

AFUDC borrowed funds used during construction, rolling 12 months (G)
(33
)
(30
)
(29
)
(27
)
(27
)
(29
)
(31
)
(34
)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
 
 
 
 
 
 
 
 
  Receivables
72

45

(5
)
38

(102
)
(9
)
(26
)
98

  Fuel inventory
(35
)
(32
)
(34
)
(12
)
26

31

18

4

  Accounts payable
(200
)
(164
)
(63
)
(135
)
168

(11
)
135

(13
)
  Prepaid taxes and taxes accrued
(51
)
(43
)
25

82

(187
)
(124
)
(117
)
(63
)
  Interest accrued
7

5

(5
)
(11
)
2

1

18

25

  Other working capital accounts
137

104

(17
)
(114
)
(29
)
(48
)
11

112

  Securitization regulatory charge
97

99

104

107

98

99

99

97

       Total (H)
27

14

5

(45
)
(24
)
(61
)
138

260

FFO, rolling 12 months (F)+(G)-(H)
3,673

3,655

3,314

3,309

3,409

3,634

3,712

3,596

Add back: special item for transmission business spin-merge expenses, rolling 12 months (pre-tax)




31

21

8


Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)
23

15

11


53

55

52

51

Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)
56

57

56

55

6

8

8

7

Operational FFO, rolling 12 months (I)
3,752

3,727

3,381

3,364

3,499

3,718

3,780

3,654

Operational FFO to debt ratio, excluding securitization debt % (I)/(C)
28.2

28.4

25.4

25.7

26.9

28.9

29.4

27.8

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Net Income (A)
1,096.9

829.1

828.9

943.0

1,106.5

Preferred dividends
17.6

17.3

17.3

17.3

17.3

Tax-effected interest expense
334.6

327.5

313.1

293.1

280.4

As-Reported Net Income adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
1,449.1

1,173.9

1,159.3

1,253.4

1,404.2

 
 
 
 
 
 
Utility special items
 
 
 
 
 
  Transmission business spin-merge expenses


(8.7
)
(37.1
)

  HCM implementation expenses

(7.6
)
(20.3
)


Total special items (C)

(7.6
)
(29.0
)
(37.1
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
1,449.1

1,181.5

1,188.3

1,290.6

1,404.2

Operational earnings (A-C)
1,096.9

836.7

857.8

980.1

1,106.5

 
 
 
 
 
 
As-reported Utility non-fuel O&M (D)
2,560.6

2,394.6

2,388.9

2,190.4

2,055.6

 
 
 
 
 
 
Utility special items included in non-fuel O&M
 
 
 
 
 
  Transmission business spin-merge expenses

12.6

28.3

38.2


  HCM implementation expenses


35.7



     Total special items included in non-fuel O&M (E)

12.6

64.0

38.2


 
 
 
 
 
 
Operational Utility non-fuel O&M (D-E)
2,560.6

2,382.0

2,324.9

2,152.2

2,055.6

 
 
 
 
 
 
Average invested capital (F)
20,642

20,213

19,488

18,154

16,877

Average common equity (G)
9,241

8,904

8,599

7,991

7,462

 
 
 
 
 
 
Gross debt (H)
10,955

11,163

10,674

10,325

9,234

Less securitization debt (I)
775

777

883

974

1,071

  Gross debt, excluding securitization debt (H-I)
10,180

10,386

9,791

9,352

8,164

Less cash and cash equivalents (J)
619

973

551

380

360

  Net debt, excluding securitization debt (H-I-J)
9,561

9,413

9,240

8,971

7,804

 
 
 
 
 
 
Total capitalization (K)
20,825

20,350

19,857

18,902

17,200

Less securitization debt (L)
775

777

883

974

1,071

  Total capitalization, excluding securitization debt (K-L)
20,050

19,573

18,974

17,929

16,129

Less cash and cash equivalents (M)
619

973

551

380

360

  Net capitalization, excluding securitization debt (K-L-M)
19,431

18,600

18,423

17,548

15,769

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/F)
7.0

5.8

5.9

6.9

8.3

Return on average invested capital – Operational ((B-C)/F)
7.0

5.9

6.1

7.1

8.3

Return on average common equity – As-Reported (A/G)
11.9

9.3

9.6

11.8

14.8

Return on average common equity – Operational ((A-C)/G)
11.9

9.4

10.0

12.3

14.8

Debt to capital ratio (H/K)
52.6

54.9

53.8

54.6

53.7

Debt to capital ratio, excluding securitization debt ((H-I)/(K-L))
50.8

53.1

51.6

52.2

50.6

Net debt to net capital ratio, excluding securitization debt ((H-I-J)/(K-L-M))
49.2

50.6

50.2

51.1

49.5

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UTILITY FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

As-Reported Net Income (A)
223.4

199.7

360.0

313.7

201.1

207.8

310.9

109.3

Less special items (B)




(2.3
)
(3.5
)
(0.3
)
(1.5
)
Operational earnings (A-B)
223.4

199.7

360.0

313.7

203.4

211.3

311.2

110.8

 
 
 
 
 
 
 
 
 
As-Reported Net Income-rolling 12 months (C)
851.5

843.4

892.5

1,096.9

906.5

918.1

881.0

829.1

Preferred dividends
17.3

17.3

17.2

17.6

17.3

17.3

17.3

17.4

Tax-effected interest expense
331.2

335.4

336.9

334.6

317.7

321.1

324.1

327.5

As-Reported Net Income, rolling 12 months adjusted for preferred
 
 
 
 
 
 
 
 
  dividends and tax-effected interest expense (D)
1,200.0

1,196.1

1,246.6

1,449.1

1,241.5

1,256.5

1,222.4

1,174.0

 
 
 
 
 
 
 
 
 
Special items in prior quarters
(5.3
)
(1.8
)
(1.5
)

(25.0
)
(13.7
)
1.4

(7.6
)
Special items in current quarter




(2.3
)
(3.5
)
(0.3
)
(1.5
)
  Total special items (E)
(5.3
)
(1.8
)
(1.5
)

(27.3
)
(17.2
)
1.1

(9.1
)
 
 
 
 
 
 
 
 
 
Operational earnings, rolling 12 months adjusted for preferred
 
 
 
 
 
 
 
 
  dividends and tax-effected interest expense (D-E)
1,205.3

1,197.9

1,248.1

1,449.1

1,268.8

1,273.7

1,221.3

1,183.1

Operational earnings, rolling 12 months (C-E)
856.8

845.2

894.0

1,096.9

933.8

935.3

879.9

838.2

 
 
 
 
 
 
 
 
 
As-reported Utility non-fuel O&M (F)
584.3

642.5

663.1

670.6

526.2

584.5

617.1

666.7

 
 
 
 
 
 
 
 
 
Utility special items included in non-fuel O&M
 
 
 
 
 
 
 
 
  Transmission business spin-merge expenses




3.9

5.6

0.7

2.4

  HCM implementation expenses








     Total special items included in non-fuel O&M (G)




3.9

5.6

0.7

2.4

 
 
 
 
 
 
 
 
 
Operational Utility non-fuel O&M (F-G)
584.3

642.5

663.1

670.6

522.3

579.0

616.4

664.3

 
 
 
 
 
 
 
 
 
Average invested capital (H)
20,462

20,425

20,723

20,587

19,623

19,990

20,117

20,103

Average common equity (I)
9,038

9,093

9,325

9,241

8,592

8,713

8,885

8,904

 
 
 
 
 
 
 
 
 
Gross debt (J)
11,195

11,111

11,274

10,955

11,092

10,993

11,055

11,163

Less securitization debt (K)
762

734

814

775

861

832

814

777

  Gross debt, excluding securitization debt (J-K)
10,433

10,377

10,460

10,180

10,231

10,161

10,241

10,386

Less cash and cash equivalents (L)
774

734

830

619

611

319

489

973

  Net debt, excluding securitization debt (J-K-L)
9,659

9,643

9,630

9,561

9,620

9,842

9,752

9,413

 
 
 
 
 
 
 
 
 
Total capitalization (M)
20,579

20,562

20,983

20,825

20,345

20,288

20,464

20,350

Less securitization debt (N)
762

734

814

775

861

832

814

777

  Total capitalization, excluding securitization debt (M-N)
19,817

19,828

20,169

20,050

19,484

19,456

19,650

19,573

Less cash and cash equivalents (O)
774

734

830

619

611

319

489

973

  Net capitalization, excluding securitization debt (M-N-O)
19,043

19,094

19,339

19,431

18,873

19,137

19,161

18,600

 
 
 
 
 
 
 
 
 
(%)
 
 
 
 
 
 
 
 
Return on average invested capital –
 
 
 
 
 
 
 
 
  As-Reported (D/H)
5.9

5.9

6.0

7.0

6.3

6.3

6.1

5.8

Return on average invested capital –
 
 
 
 
 
 
 
 
  Operational ((D-E)/H)
5.9

5.9

6.0

7.0

6.5

6.4

6.1

5.9

Return on average common equity –
 
 
 
 
 
 
 
 





  As-Reported (C/I)
9.4

9.3

9.6

11.9

10.6

10.5

9.9

9.3

Return on average common equity –
 
 
 
 
 
 
 
 
  Operational ((C-E)/I)
9.5

9.3

9.6

11.9

10.8

10.7

9.9

9.4

Debt to capital ratio (J/M)
54.4

54.0

53.7

52.6

54.5

54.2

54.0

54.9

Debt to capital ratio, excluding securitization debt ((J-K)/(M-N))
52.6

52.3

51.9

50.8

52.5

52.2

52.1

53.1

Net debt to net capital ratio, excluding securitization debt ((J-K-L)/(M-N-O))
50.7

50.5

49.8

49.2

51.0

51.4

50.9

50.6

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY ARKANSAS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Earnings (A)
67.4

114.5

155.1

145.5

158.0

Preferred dividends
6.9

6.9

6.9

6.9

6.9

Tax-effected interest expense
60.3

55.5

54.3

49.5

49.7

As-Reported Earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
134.6

176.9

216.3

201.9

214.6

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses


(0.4
)
(13.0
)

  HCM implementation expenses

(1.4
)
(2.4
)


Total special items (C)

(1.4
)
(2.8
)
(13.0
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
134.6

178.3

219.1

214.9

214.6

Operational earnings (A-C)
67.4

115.9

157.9

158.5

158.0

Average invested capital (D)
4,640

4,423

4,026

3,645

3,451

Average invested capital, excluding securitization (E)
4,572

4,343

3,933

3,540

3,334

Average common equity (F)
1,858

1,772

1,650

1,512

1,424

 
 
 
 
 
 
Gross debt (G)
2,642

2,689

2,380

2,139

1,894

Less securitization debt (H)
61

74

87

99

111

  Gross debt, excluding securitization debt (G-H)
2,581

2,615

2,293

2,040

1,783

Less cash and cash equivalents (I)
9

219

127

35

23

  Net debt, excluding securitization debt (G-H-I)
2,572

2,396

2,166

2,006

1,761

 
 
 
 
 
 
Total capitalization (J)
4,650

4,630

4,216

3,835

3,455

Less securitization debt (K)
61

74

87

99

111

  Total capitalization, excluding securitization debt (J-K)
4,589

4,556

4,129

3,736

3,344

Less cash and cash equivalents (L)
9

219

127

35

23

  Net capitalization, excluding securitization debt (J-K-L)
4,580

4,337

4,002

3,702

3,321

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
2.9

4.0

5.4

5.5

6.2

Return on average invested capital – Operational ((B-C)/E)
2.9

4.1

5.6

6.1

6.4

Return on average common equity – As-Reported (A/F)
3.6

6.5

9.4

9.6

11.1

Return on average common equity – Operational ((A-C)/F)
3.6

6.5

9.6

10.5

11.1

Debt to capital ratio (G/J)
56.8

58.1

56.4

55.8

54.8

Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))
56.2

57.4

55.5

54.6

53.3

Net debt to net capital ratio, excluding securitization debt ((G-H-I)/(J-K-L))
56.1

55.3

54.1

54.2

53.0

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 






REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY TEXAS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
 
 
 
 
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Net Income (A)
69.6

74.8

57.9

42.0

80.8

Preferred dividends





Tax-effected interest expense
50.7

53.0

54.7

57.2

56.0

As-Reported Net Income adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
120.3

127.8

112.6

99.2

136.8

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses


(3.2
)
(4.6
)

  HCM implementation expenses

(1.1
)
(5.6
)


Total special items (C)

(1.1
)
(8.8
)
(4.6
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
120.3

128.9

121.4

103.8

136.8

Operational earnings (A-C)
69.6

75.9

66.7

46.6

80.8

Average invested capital (D)
2,387

2,396

2,445

2,509

2,522

Average invested capital, excluding securitization debt (E)
1,858

1,803

1,790

1,795

1,747

Average common equity (F)
927

889

871

877

862

 
 
 
 
 
 
Gross debt (G)
1,452

1,469

1,545

1,604

1,661

Less securitization debt (H)
497

562

624

685

743

  Gross debt, excluding securitization debt (G-H)
955

907

921

919

918

Less cash and cash equivalents (I)
2

30

47

60

65

  Net debt, excluding securitization debt (G-H-I)
953

877

874

859

853

 
 
 
 
 
 
Total capitalization (J)
2,413

2,361

2,432

2,458

2,560

Less securitization debt (K)
497

562

624

685

743

  Total capitalization, excluding securitization debt (J-K)
1,916

1,799

1,808

1,773

1,817

Less cash and cash equivalents (L)
2

30

47

60

65

  Net capitalization, excluding securitization debt (J-K-L)
1,914

1,769

1,761

1,713

1,752

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
5.0

5.3

4.6

4.0

5.4

Return on average invested capital – Operational ((B-C)/E)
6.5

7.1

6.8

5.8

7.8

Return on average common equity – As-Reported (A/F)
7.5

8.4

6.6

4.8

9.4

Return on average common equity – Operational ((A-C)/F)
7.5

8.5

7.7

5.3

9.4

Debt to capital ratio (G/J)
60.2

62.2

63.5

65.2

64.9

Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))
49.8

50.4

50.9

51.8

50.5

Net debt to net capital ratio, excluding securitization debt ((G-H-I)/(J-K-L))
49.8

49.6

49.6

50.1

48.7

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY LOUISIANA FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES (a)
 
 
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Earnings (A)
440.9

438.2

406.3

432.3

667.8

Preferred dividends
5.7

7.8

7.8

7.8

7.8

Tax-effected interest expense
153.5

140.9

134.6

122.1

110.9

As-Reported Earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
600.1

586.9

548.7

562.2

786.5

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses


(4.0
)
(11.2
)

  HCM implementation expenses

(3.5
)
(5.1
)


Total special items (C)

(3.5
)
(9.1
)
(11.2
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
600.1

590.4

557.8

573.4

786.5

Operational earnings (A-C)
440.9

441.7

415.4

443.5

667.8

Average invested capital (D)
9,481

9,235

8,977

8,257

7,382

Average invested capital, excluding securitization (E)
9,350

9,084

8,806

8,066

7,280

Average members’ equity (F)
4,487

4,282

4,335

4,066

3,662

 
 
 
 
 
 
Gross debt (G)
4,897

4,980

4,706

4,357

3,804

Less securitization debt (H)
121

141

162

179

204

  Gross debt, excluding securitization debt (G-H)
4,776

4,839

4,545

4,178

3,600

Less cash and cash equivalents (I)
35

321

140

66

26

  Net debt, excluding securitization debt (G-H-I)
4,741

4,518

4,405

4,112

3,574

 
 
 
 
 
 
Total capitalization (J)
9,634

9,327

9,143

8,811

7,703

Less securitization debt (K)
121

141

162

179

204

  Total capitalization, excluding securitization debt (J-K)
9,513

9,186

8,981

8,632

7,499

Less cash and cash equivalents (L)
35

321

140

66

26

   Net capitalization, excluding securitization debt (J-K-L)
9,478

8,865

8,841

8,566

7,473

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
6.3

6.4

6.1

6.8

10.7

Return on average invested capital – Operational ((B-C)/E)
6.4

6.5

6.3

7.1

10.8

Return on average members’ equity – As-Reported (A/F)
9.8

10.2

9.4

10.6

18.2

Return on average members’ equity – Operational ((A-C)/F)
9.8

10.3

9.6

10.9

18.2

Debt to capital ratio (G/J)
50.8

53.4

51.5

49.5

49.4

Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))
50.2

52.7

50.6

48.4

48.0

Net debt to net capital ratio, excluding securitization debt ((G-H-I)/(J-K-L))
50.0

51.0

49.8

48.0

47.8

(a) On Sept. 1, 2015, ELL transferred its Algiers assets to ENOI. The effect of the Algiers transfer has been retrospectively applied to ENOI's but not ELL's financial data presented in this report.
Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY MISSISSIPPI FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
 
 
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Earnings (A)
89.9

72.0

79.3

43.9

105.9

Preferred dividends
2.8

2.8

2.8

2.8

2.8

Tax-effected interest expense
34.6

34.3

35.4

34.0

29.5

As-Reported Earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
127.3

109.1

117.5

80.8

138.3

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses


(0.9
)
(7.5
)

  HCM implementation expenses

(1.2
)
(4.5
)


Total special items (C)

(1.2
)
(5.4
)
(7.5
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
127.3

110.3

122.9

88.3

138.3

Operational earnings (A-C)
89.9

73.2

84.7

51.4

105.9

Average invested capital (D)
2,086

2,053

2,068

1,946

1,712

Average common equity (E)
987

957

916

858

784

 
 
 
 
 
 
Gross debt (F)
1,048

1,048

1,044

1,161

915

Less cash and cash equivalents (G)
146

62


53


  Net debt (F-G)
902

986

1,044

1,108

915

 
 
 
 
 
 
Total capitalization (H)
2,110

2,061

2,046

2,091

1,801

Less cash and cash equivalents (I)
146

62


53


  Net capitalization (H-I)
1,964

1,999

2,046

2,038

1,801

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
6.1

5.3

5.7

4.2

8.1

Return on average invested capital – Operational ((B-C)/D)
6.1

5.4

5.9

4.5

8.1

Return on average common equity – As-Reported (A/E)
9.1

7.5

8.7

5.1

13.5

Return on average common equity – Operational ((A-C)/E)
9.1

7.7

9.3

6.0

13.5

Debt to capital ratio (F/H)
49.7

50.9

51.0

55.5

50.8

Net debt to net capital ratio ((F-G)/(H-I))
45.9

49.3

51.0

54.4

50.8

Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 






ENTERGY NEW ORLEANS FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES (a)
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Earnings (A)
44.0

30.0

11.6

18.9

36.2

Preferred dividends
1.0

1.0

1.0

0.9

1.0

Tax-effected interest expense
10.3

9.8

9.9

8.3

8.0

As-Reported Earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
55.3

40.8

22.5

28.1

45.1

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses


(0.1
)
(0.9
)

  HCM implementation expenses

(0.4
)
(2.7
)


Total special items (C)

(0.4
)
(2.9
)
(0.9
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
55.3

41.2

25.2

29.0

45.1

Operational earnings (A-C)
44.0

30.4

14.5

19.8

36.2

Average invested capital (D)
632

538

503

455

435

Average invested capital, excluding securitization (E)
584

538

503

455

435

Average common equity (F)
289

217

201

188

185

 
 
 
 
 
 
Gross debt (G)
343

304

298

266

229

Less securitization debt (H)
96





  Gross debt, excluding securitization debt (G-H)
247

304

298

266

229

Less cash and cash equivalents (I)
89

42

33

9

10

  Net debt, excluding securitization debt (G-H-I)
158

262

265

257

219

 
 
 
 
 
 
Total capitalization (J)
713

551

524

481

430

Less securitization debt (K)
96





  Total capitalization, excluding securitization debt (J-K)
617

551

524

481

430

Less cash and cash equivalents (L)
89

42

33

9

10

  Net capitalization, excluding securitization debt (J-K-L)
528

509

491

472

420

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
8.7

7.6

4.5

6.2

10.4

Return on average invested capital – Operational ((B-C)/E)
9.5

7.7

5.0

6.4

10.4

Return on average common equity – As-Reported (A/F)
15.2

13.8

5.8

10.0

19.6

Return on average common equity – Operational ((A-C)/F)
15.2

14.0

7.2

10.5

19.6

Debt to capital ratio (G/J)
48.1

55.1

56.9

55.2

53.2

Debt to capital ratio, excluding securitization debt ((G-H)/(J-K))
40.0

55.1

56.9

55.2

53.2

Net debt to net capital ratio, excluding securitization debt ((G-H-I)/(J-K-L))
30.0

51.3

53.9

54.4

52.1

(a) On Sept. 1, 2015, ELL transferred its Algiers assets to ENOI. The effect of the Algiers transfer has been retrospectively applied to ENOI's but not ELL's financial data presented in this report.
Calculations may differ due to rounding.
 
 
 
 
 
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
SYSTEM ENERGY RESOURCES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Net Income (A)
111.3

96.3

113.7

111.9

64.2

Preferred dividends





Tax-effected interest expense
26.7

35.1

23.0

23.4

25.5

As-Reported Net Income adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
138.0

131.4

136.7

135.3

89.7

 
 
 
 
 
 
Special items
 
 
 
 
 
  Transmission business spin-merge expenses





  HCM implementation expenses





Total special items (C)





 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
138.0

131.4

136.7

135.3

89.7

Operational earnings (A-C)
111.3

96.3

113.7

111.9

64.2

Average invested capital (D)
1,476

1,612

1,637

1,592

1,609

Average common equity (E)
826

873

854

817

806

 
 
 
 
 
 
Gross debt (F)
573

727

751

815

736

Less cash and cash equivalents (G)
231

223

127

84

185

  Net debt (F-G)
342

504

624

731

551

 
 
 
 
 
 
Total capitalization (H)
1,354

1,598

1,627

1,648

1,537

Less cash and cash equivalents (I)
231

223

127

84

185

  Net capitalization (H-I)
1,123

1,375

1,500

1,564

1,351

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
9.3

8.2

8.3

8.5

5.6

Return on average invested capital – Operational ((B-C)/D)
9.3

8.2

8.3

8.5

5.6

Return on average common equity – As-Reported (A/E)
13.5

11.0

13.3

13.7

8.0

Return on average common equity – Operational ((A-C)/E)
13.5

11.0

13.3

13.7

8.0

Debt to capital ratio (F/H)
42.3

45.7

46.2

49.5

47.9

Net debt to net capital ratio ((F-G)/(H-I))
30.5

36.9

41.6

46.8

40.8

Certain prior year data has been reclassified to conform with current year presentation.
Calculations may differ due to rounding.
 
 
 
 
 







ENTERGY WHOLESALE COMMODITIES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

As-Reported Net Income (A)
(1,067.8
)
292.3

42.9

40.4

488.6

Preferred dividends
2.2

2.2

0.1


3.3

Tax-effected interest expense
16.5

10.2

10.0

11.0

20.3

As-Reported Net Income adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B)
(1,049.1
)
304.7

53.0

51.4

512.2

 
 
 
 
 
 
Special items
 
 
 
 
 
Decisions to close VY, FitzPatrick, and Pilgrim
(1,072.7
)
(99.7
)
(204.8
)
(223.5
)

Palisades asset impairment and related write-offs
(255.9
)




Top Deer investment impairment
(23.9
)




Gain on the sale of RISEC
100.1





HCM implementation expenses

(2.1
)
(15.0
)


Total special items (C)
(1,252.4
)
(101.8
)
(219.8
)
(223.5
)

 
 
 
 
 
 
Operational earnings adjusted for preferred
 
 
 
 
 
  dividends and tax-effected interest expense (B-C)
203.3

406.5

272.8

274.9

512.2

Operational earnings (A-C)
184.6

394.1

262.7

263.9

488.6

Average invested capital (D)
4,781

5,204

5,145

5,513

5,627

Average common equity (E)
4,413

4,921

4,978

5,328

5,029

 
 
 
 
 
 
Gross debt (F)
371

318

199

111

204

Less cash and cash equivalents (G)
719

433

176

141

323

Net debt (F-G)
(348
)
(115
)
23

(30
)
(119
)
 
 
 
 
 
 
Total capitalization (H)
4,103

5,460

4,948

5,341

5,685

Less cash and cash equivalents (I)
719

433

176

141

323

Net capitalization (H-I)
3,384

5,027

4,772

5,201

5,362

 
 
 
 
 
 
(%)
 
 
 
 
 
Return on average invested capital – As-Reported (B/D)
(21.9
)
5.9

1.0

0.9

9.1

Return on average invested capital – Operational ((B-C)/D)
4.3

7.8

5.3

5.0

9.1

Return on average common equity – As-Reported (A/E)
(24.2
)
5.9

0.9

0.8

9.7

Return on average common equity – Operational ((A-C)/E)
4.2

8.0

5.3

5.0

9.7

Debt to capital ratio (F/H)
9.0

5.8

4.0

2.1

3.6

Net debt to net capital ratio ((F-G)/(H-I))
(10.3
)
(2.3
)
0.5

(0.6
)
(2.2
)
Certain prior year data has been reclassified to conform with current year presentation.
Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

For the quarter:
 
 
 
 
 
 
 
 
As-Reported Net Income (A)
122.9

(4.1
)
(1,032.0
)
(154.7
)
241.9

25.9

(33.2
)
57.1

Less special items (B)
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(6.6
)
(7.5
)
(74.0
)
(13.7
)
Operational earnings (A-B)
127.5

(3.0
)
31.7

28.3

248.5

33.4

40.8

70.8

 
 
 
 
 
 
 
 
 
As-Reported Net Income, rolling 12 months (C)
173.3

142.7

(856.0
)
(1,067.8
)
202.7

217.1

276.7

292.3

Preferred dividends
0.5

0.5

0.5

0.5

0.5

0.5

0.5

0.5

Tax-effected interest expense
10.8

12.3

14.5

16.5

11.3

10.9

10.6

10.2

As-Reported Net Income, rolling
 
 
 
 
 
 
 
 
12 months adjusted for preferred
 
 
 
 
 
 
 
 
  dividends and tax-effected interest
 
 
 
 
 
 
 
 
   expense (D)
184.6

155.5

(841.0
)
(1,050.8
)
214.5

228.5

287.8

303.0

 
 
 
 
 
 
 
 
 
Special items in prior quarters
(95.2
)
(92.4
)
(19.5
)
(1,069.4
)
(219.8
)
(225.3
)
(57.6
)
(88.0
)
Special items in current quarter
(4.6
)
(1.1
)
(1,063.7
)
(183.0
)
(6.6
)
(7.5
)
(74.0
)
(13.7
)
  Total special items (E)
(99.9
)
(93.5
)
(1,083.1
)
(1,252.4
)
(226.4
)
(232.8
)
(131.6
)
(101.7
)
 
 
 
 
 
 
 
 
 
Operational earnings, rolling 12 months adjusted
 
 
 
 
 
 
 
 
  for preferred dividends and tax-effected
 
 
 
 
 
 
 
 
  interest expense (D-E)
284.5

249.0

242.1

201.6

440.9

461.3

419.4

404.7

Operational earnings, rolling 12 months (C-E)
273.2

236.2

227.1

184.6

429.1

449.9

408.3

394.0

Average invested capital (F)
4,909

5,174

4,539

4,781

4,879

5,292

5,185

5,204

Average common equity (G)
4,659

4,956

4,310

4,413

4,764

5,176

4,958

4,921

 
 
 
 
 
 
 
 
 
Gross debt (H)
356

292

295

371

96

97

139

318

Less cash and cash equivalents (I)
402

167

192

719

287

318

277

433

  Net debt (H-I)
(46
)
125

103

(348
)
(191
)
(221
)
(138
)
(115
)
 
 
 
 
 
 
 
 
 
Total capitalization (J)
5,499

5,343

4,243

4,103

4,319

5,006

4,835

5,460

Less cash and cash equivalents (K)
402

167

192

719

287

318

277

433

  Net capital (J-K)
5,097

5,176

4,051

3,384

4,032

4,688

4,558

5,027

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(%)
 
 
 
 
 
 
 
 
Return on average invested capital –
 
 
 
 
 
 
 
 
  As-Reported (D/F)
3.8

3.0

(18.5
)
(21.9
)
4.4

4.3

5.6

5.9

Return on average invested capital –
 
 
 
 
 
 
 
 
  Operational ((D-E)/F)
5.8

4.8

5.4

4.3

9.0

8.7

8.1

7.8

Return on average common equity –
 
 
 
 
 
 
 
 
  As-Reported (C/G)
3.7

2.9

(19.9
)
(24.2
)
4.3

4.2

5.6

5.9

Return on average common equity –
 
 
 
 
 
 
 
 
  Operational ((C-E)/G)
5.9

4.8

5.3

4.2

9.0

8.7

8.2

8.0

Debt to capital ratio (H/J)
6.5

5.5

7.0

9.0

2.2

1.9

2.9

5.8

Net debt to net capital ratio ((H-I)/(J-K))
(0.9
)
2.4

2.6

(10.3
)
(4.7
)
(4.7
)
(3.0
)
(2.3
)
Certain prior year data has been reclassified to conform with current year presentation.
 
 
 
 
 
Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ in thousands except where noted)
2015

2014

 2013

 2012

 2011

As-reported EWC operating revenues (A)
2,061,827

2,719,405

2,312,758

2,326,309

2,413,773

Less Palisades below-market PPA amortization (B)
15,200

16,496

17,656

16,725

42,996

Adjusted EWC operating revenues (A-B)
2,046,627

2,702,909

2,295,102

2,309,584

2,370,777

 
 
 
 
 
 
EWC billed sales (GWh) (C)
39,745

44,424

45,127

46,178

43,497

 
 
 
 
 
 
As-reported EWC average total revenue per MWh (A/C)
51.88

61.21

51.25

50.38

55.49

Adjusted EWC average total revenue per MWh ((A-B)/(C))
51.49

60.84

50.86

50.02

54.50

 
 
 
 
 
 
Adjusted EWC operating revenues (D)
2,046,627

2,702,909

 
 
 
Less Vermont Yankee operating revenue (E)

315,293

 
 
 
Adjusted EWC operating revenues excluding Vermont Yankee (D-E)
2,046,627

2,387,616

 
 
 
 
 
 
 
 
 
EWC billed sales excluding Vermont Yankee (GWh) (F)
39,745

39,364

 
 
 
 
 
 
 
 
 
Adjusted EWC average total revenue per MWh excluding VY (D-E)/(F)
51.49

60.65

 
 
 
 
 
 
 
 
 
As-reported EWC non-fuel O&M (G)
1,033,144

1,172,339

1,179,824

1,092,602

1,056,070

 
 
 
 
 
 
Special Items included in non-fuel O&M
 
 
 
 
 
  Decisions to close VY, FitzPatrick and Pilgrim
16,979

43,516

21,130



  HCM implementation expenses

3,261

15,953



     Total special items included in non-fuel O&M (H)
16,979

46,777

37,083



 
 
 
 
 
 
Operational EWC non-fuel O&M (G-H)
1,016,165

1,125,562

1,142,741

1,092,602

1,056,070

 
 
 
 
 
 
As-reported EWC non-fuel O&M expense per MWh (G/C)
25.99

26.39

26.14

23.66

24.28

Operational EWC non-fuel O&M expense per MWh ((G-H)/(C))
25.57

25.34

25.32

23.66

24.28

Totals may not foot due to rounding.
 
 
 
 
 
Calculations may differ due to rounding.
 
 
 
 
 







ENTERGY WHOLESALE COMMODITIES FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands except where noted)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

As-reported EWC operating revenues (A)
642,590

439,306

521,746

458,184

912,122

577,891

605,740

623,652

Less Palisades below-market PPA amortization (B)
3,800

3,800

3,800

3,800

4,124

4,124

4,124

4,124

Adjusted EWC operating revenues (A-B)
638,790

435,506

517,946

454,384

907,998

573,767

601,616

619,528

 
 
 
 
 
 
 
 
 
EWC billed sales (GWh) (C)
9,592

9,578

10,748

10,135

10,014

11,533

11,328

11,550

 
 
 
 
 
 
 
 
 
As-reported EWC average total revenue per MWh (A/C)
67.00

45.87

48.54

45.21

91.08

50.11

53.47

54.00

Adjusted EWC average total revenue per MWh ((A-B)/(C))
66.60

45.47

48.19

44.83

90.68

49.75

53.11

53.64

 
 
 
 
 
 
 
 
 
Adjusted EWC operating revenues (D)
638,790

435,506

517,946

454,384

907,998

573,767

601,616

619,528

Less Vermont Yankee operating revenue (E)




156,246

58,242

47,824

52,981

Adjusted EWC operating revenues excluding Vermont Yankee (D-E)
638,790

435,506

517,946

454,384

751,752

515,525

553,792

566,547

 
 
 
 
 
 
 
 
 
EWC billed sales excluding Vermont Yankee (GWh) (F)
9,592

9,578

10,748

10,135

8,693

10,211

10,018

10,442

 
 
 
 
 
 
 
 
 
Adjusted EWC average total revenue per MWh excluding VY (D-E)/(F)
66.60

45.47

48.19

44.83

86.48

50.49

55.28

54.26

 
 
 
 
 
 
 
 
 
As-reported EWC non-fuel O&M (G)
248,326

248,738

255,656

280,425

263,160

297,863

295,375

316,917

 
 
 
 
 
 
 
 
 
Special Items included in non-fuel O&M
 
 
 
 
 
 
 
 
  Decisions to close VY, FitzPatrick and Pilgrim
7,489

1,579

1,706

6,205

6,728

8,705

9,681

18,402

  HCM implementation expenses




1,093

949

483

736

     Total special items included in non-fuel O&M (H)
7,489

1,579

1,706

6,205

7,821

9,654

10,164

19,138

 
 
 
 
 
 
 
 
 
Operational EWC non-fuel O&M (G-H)
240,837

247,159

253,950

274,220

255,339

288,209

285,211

297,779

 
 
 
 
 
 
 
 
 
As-reported EWC non-fuel O&M expense per MWh (G/C)
25.89

25.97

23.79

27.67

26.28

25.83

26.07

27.44

Operational EWC non-fuel O&M expense per MWh ((G-H)/(C))
25.11

25.80

23.63

27.06

25.50

24.99

25.18

25.78

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES NUCLEAR FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ in thousands except where noted)
2015

2014

 2013

 2012

 2011

As-reported EWC nuclear operating revenues (A)
1,846,508

2,445,695

2,031,998

2,080,581

2,282,360

Less Palisades below-market PPA amortization (B)
15,200

16,496

17,656

16,725

42,996

Adjusted EWC nuclear operating revenues (A-B)
1,831,308

2,429,199

2,014,342

2,063,856

2,239,364

 
 
 
 
 
 
EWC nuclear billed sales (GWh) (C)
35,859

40,253

40,167

41,042

40,918

 
 
 
 
 
 
As-reported EWC nuclear average total revenue per MWh (A/C)
51.49

60.76

50.59

50.69

55.78

Adjusted EWC nuclear average total revenue per MWh ((A-B)/(C))
51.07

60.35

50.15

50.29

54.73

 
 
 
 
 
 
Adjusted EWC nuclear operating revenues (D)
1,831,308

2,429,199

 
 
 
Less Vermont Yankee operating revenue (E)

315,293

 
 
 
Adjusted EWC nuclear operating revenues excluding Vermont Yankee (D)-(E)
1,831,308

2,113,906

 
 
 
 
 
 
 
 
 
EWC nuclear billed sales excluding Vermont Yankee (GWh) (F)
35,859

35,191

 
 
 
 
 
 
 
 
 
Adjusted EWC nuclear average total revenue per MWh excluding VY (D-E)/(F)
51.07

60.07

 
 
 
 
 
 
 
 
 
As-reported EWC nuclear non-fuel O&M (G)
984,539

1,133,088

1,146,560

1,044,658

1,033,149

 
 
 
 
 
 
Special Items included in EWC nuclear non-fuel O&M
 
 
 
 
 
  Decisions to close VY, FitzPatrick and Pilgrim
16,979

43,516

21,130



  HCM implementation expenses

3,261

15,615



     Total special items included in EWC nuclear non-fuel O&M (H)
16,979

46,777

36,745



 
 
 
 
 
 
Operational EWC nuclear non-fuel O&M (G-H)
967,560

1,086,311

1,109,815

1,044,658

1,033,149

 
 
 
 
 
 
As-reported EWC nuclear non-fuel O&M expense per MWh (G/C)
27.46

28.15

28.54

25.45

25.25

Operational EWC nuclear non-fuel O&M expense per MWh ((G-H)/(C))
26.98

26.99

27.63

25.45

25.25

Calculations may differ due to rounding.
 
 
 
 
 







ENTERGY WHOLESALE COMMODITIES NUCLEAR FINANCIAL METRICS – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands except where noted)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

As-reported EWC nuclear operating revenues (A)
566,908

392,188

459,964

427,447

810,887

531,340

533,887

569,581

Less Palisades below-market PPA amortization (B)
3,800

3,800

3,800

3,800

4,124

4,124

4,124

4,124

Adjusted EWC nuclear operating revenues (A-B)
563,109

388,388

456,164

423,647

806,763

527,216

529,763

565,457

 
 
 
 
 
 
 
 
 
EWC nuclear billed sales (GWh) (C)
8,618

8,555

9,125

9,561

9,079

10,588

9,950

10,635

 
 
 
 
 
 
 
 
 
As-reported EWC nuclear average total revenue per MWh (A/C)
65.78

45.84

50.41

44.71

89.31

50.18

53.66

53.56

Adjusted EWC nuclear average total revenue per MWh ((A-B)/(C))
65.34

45.40

49.99

44.31

88.86

49.79

53.24

53.17

 
 
 
 
 
 
 
 
 
Adjusted EWC nuclear operating revenues (D)
563,109

388,388

456,164

423,647

806,763

527,216

529,763

565,457

Less Vermont Yankee operating revenue (E)




156,246

58,242

47,824

52,981

Adjusted EWC nuclear operating revenues excluding Vermont Yankee (D)-(E)
563,109

388,388

456,164

423,647

650,517

468,974

481,939

512,476

 
 
 
 
 
 
 
 
 
EWC nuclear billed sales excluding Vermont Yankee (GWh) (F)
8,618

8,555

9,125

9,561

7,758

9,266

8,640

9,527

 
 
 
 
 
 
 
 
 
Adjusted EWC nuclear average total revenue per MWh excluding VY (D-E)/(F)
65.34

45.40

49.99

44.31

83.85

50.61

55.78

53.79

 
 
 
 
 
 
 
 
 
As-reported EWC nuclear non-fuel O&M (G)
240,176

239,923

246,279

258,161

252,478

283,985

290,355

306,270

 
 
 
 
 
 
 
 
 
Special Items included in EWC nuclear non-fuel O&M
 
 
 
 
 
 
 
 
  Decisions to close VY, FitzPatrick and Pilgrim
7,489

1,579

1,706

6,205

6,728

8,705

9,681

18,402

  HCM implementation expenses




1,093

949

483

736

     Total special items included in EWC nuclear non-fuel O&M (H)
7,489

1,579

1,706

6,205

7,821

9,654

10,164

19,138

 
 
 
 
 
 
 
 
 
Operational EWC nuclear non-fuel O&M (G-H)
232,687

238,344

244,573

251,956

244,657

274,331

280,191

287,132

 
 
 
 
 
 
 
 
 
As-reported EWC nuclear non-fuel O&M expense per MWh (G/C)
27.87

28.04

26.99

27.00

27.81

26.82

29.18

28.80

Operational EWC nuclear non-fuel O&M expense per MWh ((G-H)/(C))
27.00

27.86

26.80

26.35

26.95

25.91

28.16

27.00

Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





REG G RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
ENTERGY WHOLESALE COMMODITIES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
2011-2015
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 2015

 2014

 2013

 2012

 2011

Net Income
(1,066
)
295

43

40

492

Add back: interest expense
27

17

16

18

33

Add back: income tax expense
(610
)
177

(77
)
61

176

Add back: depreciation and amortization
239

276

216

176

179

Subtract: interest and investment income
149

114

138

105

99

Add back: decommissioning expense
138

142

125

72

81

Adjusted EBITDA
(1,421
)
792

185

262

862

Add back pre-tax special items for:
 
 
 
 
 
  HCM implementation expenses

3

24



  Decisions to close VY, FitzPatrick and Pilgrim
1,658

154

343

356


  Palisades asset impairment and related write-offs
396





  Top Deer investment impairment
37





  Gain on the sale of RISEC
(154
)




Operational adjusted EBITDA
515

950

553

618

862

 Certain prior year data has been reclassified to conform with current year presentation.
 Calculations may differ due to rounding.
 
 
 
 
 


ENTERGY WHOLESALE COMMODITIES FINANCIAL MEASURES – RECONCILIATION OF GAAP TO NON-GAAP MEASURES
1Q14-4Q15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ millions)
 1Q15

 2Q15

 3Q15

 4Q15

 1Q14

 2Q14

 3Q14

 4Q14

Net Income
123

(4
)
(1,032
)
(154
)
242

26

(33
)
58

Add back: interest expense
6

6

7

8

5

3

4

5

Add back: income tax expense
70

(3
)
(555
)
(123
)
119

20

2

36

Add back: depreciation and amortization
62

64

60

53

70

71

72

63

Subtract: interest and investment income
50

36

29

33

26

22

29

37

Add back: decommissioning expense
35

33

33

36

34

35

35

38

Adjusted EBITDA
247

60

(1,515
)
(213
)
444

133

51

162

Add back pre-tax special items for:
 
 
 
 
 
 
 
 
  HCM implementation expenses




1

1

1

1

  Decisions to close VY, FitzPatrick and Pilgrim
7

2

2

5

10

11

113

20

  Palisades asset impairment and related write-offs


1,642

396





  Top Deer investment impairment



37





  Gain on the sale of RISEC



(154
)




Operational adjusted EBITDA
254

62

129

70

455

145

165

183

 Certain prior year data has been reclassified to conform with current year presentation.
 Calculations may differ due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





ENTERGY CORPORATION AND SUBSIDIARIES
 
 
 
 
 
 
 
INVESTOR NEWS
ENTERGY COMMON STOCK PRICES
Entergy’s quarterly earnings results, webcasts, presentations, dividend
The high and low trading prices for each quarterly period in 2015 and 2014
action and other news and information of investor interest may be
were as follows (in dollars):
obtained by visiting the investor information page on Entergy’s
 
 
2015
2014
corporate website at entergy.com and the Investor Relations mobile
QUARTER
 
HIGH

LOW

HIGH

LOW

web app at iretr.com, or by calling Entergy's Investor Relations information line at 1-888-ENTERGY (368-3749).
1
 
90.33

73.88

67.02

60.40

 
2
 
79.84

69.06

82.30

66.41

INVESTOR RELATIONS
3
 
74.09

61.27

82.48

70.70

Security analysts, portfolio managers, and other members of the
4
 
70.67

63.90

92.02

76.51

financial community may contact:
 
 
 
 
 
 
     David Borde
DIVIDEND PAYMENTS
 
     Vice President, Investor Relations
The Board of Directors declares dividends quarterly and sets the record and
     Telephone: 504-576-5668
payment dates. Subject to Board discretion, those dates for 2016 are:
     E–mail: dborde@entergy.com
 
 
 
 
 
PAYMENT

 
DECLARATION DATE
 RECORD DATE
  DATE

SHAREHOLDER ACCOUNT INFORMATION
January 29
 
 
February 11
 
March 1
Wells Fargo Shareowner Services is Entergy’s transfer agent,
April 6
 
 
May 12
 
June 1
registrar, dividend disbursing agent, and dividend reinvestment
July 29
 
 
August 11
 
September 1
and stock purchase plan agent. Shareholders of record with
October 28
 
 
November 10
December 1
questions about lost certificates, lost or missing dividend checks
 
 
 
 
 
 
or notifications of change of address should contact:
Quarterly dividend payments (in cents-per-share):
 
 
     Wells Fargo Shareowner Services
 
 
 
 
 
 
     P.O. Box 64874
 QUARTER
 2016

 2015

 2014

 2013

 2012

     St. Paul, MN 55164-0874
1
85

83

83

83

83

     Phone: 1-855-854-1360
2
85

83

83

83

83

     Internet: www.shareholderonline.com
3
 
83

83

83

83

 
4
 
85

83

83

83

CORPORATE GOVERNANCE
 
 
 
 
 
 
Entergy’s Corporate Governance Guidelines, Board Committee
PREFERRED STOCK DIVIDEND PAYMENTS
 
 
Charters for the Corporate Governance, Audit, and Personnel
The board of directors for each preferred stock issuer declares preferred
Committees, and Entergy’s Code of Conduct may be accessed
dividends quarterly and sets the record and payment dates. Subject to
 
electronically by selecting the investor information page on Entergy’s
their discretion, those dates for 2016 and 2017 are:
 
 
corporate website at entergy.com.
 
 
 
 
 
 
 
UTILITY OPERATING COMPANY
RECORD DATE
 
PAYMENT DATE
ADDITIONAL INFORMATION
 Entergy Arkansas, Inc.
 
12/23/15

 
1/4/16

For copies of the above Corporate Governance documents, Entergy’s
   
 
 
3/23/16

 
4/1/16

10-K and 10-Q reports filed with the Securities and Exchange
   
 
 
6/22/16

 
7/1/16

Commission, or for other investor information, call 1-888-ENTERGY
   
 
 
9/22/16

 
10/3/16

or write to:
 
 
 
12/19/16

 
1/3/17

     Entergy Corporation
   
 
 
3/20/17

 
4/3/17

     Investor Relations
   
 
 
6/21/17

 
7/3/17

     P.O. Box 61000
   
 
 
9/20/17

 
10/2/17

     New Orleans, LA 70161
 Entergy Mississippi, Inc.
1/21/16

 
2/1/16

 
   
 
 
4/19/16

 
5/2/16

COMMON STOCK INFORMATION
   
 
 
7/21/16

 
8/1/16

The company’s common stock is listed on the New York and Chicago
   
 
 
10/21/16

 
11/1/16

exchanges under the symbol “ETR” (CUSIP 29364G10). The Entergy
 
 
 
1/20/17

 
2/1/17

share price is reported daily in the financial press under “Entergy” in
   
 
 
4/19/17

 
5/1/17

most listings of New York Stock Exchange securities. Entergy common
 
 
8/21/17

 
8/1/17

stock is a component of the following indices: S&P 500, S&P Utilities
   
 
 
10/23/17

 
11/1/17

Index, Philadelphia Utility Index and the NYSE Composite Index,
 Entergy New Orleans, Inc.
12/23/15

 
1/4/16






among others.
 
 
 
3/23/16

 
4/1/16

 
 
 
 
6/22/16

 
7/1/16

As of Jan. 29, 2016, there were 179,071,731 shares of Entergy
 
 
 
9/22/16

 
10/3/16

common stock outstanding. Shareholders of record totaled
 
 
 
12/19/16

 
1/3/17

28,602, and approximately 138,431 investors held Entergy stock in
 
 
 
3/20/17

 
4/3/17

“street name” through a broker.
 
 
 
6/21/17

 
7/3/17

 
 
 
 
9/20/17

 
10/2/17

CERTIFICATIONS
 
 
 
 
 
 
In May 2015, Entergy’s Chief Executive Officer certified to the
 
 
 
 
 
 
New York Stock Exchange that he was not aware of any violation
 
 
 
 
 
 
of the NYSE corporate governance listing standards. Also, Entergy
 
 
 
 
 
 
filed certifications regarding the quality of the company’s public
 
 
 
 
 
 
disclosure, required by Section 302 of the Sarbanes-Oxley Act of
 
 
 
 
 
 
2002, as exhibits to our Annual Report on Form 10-K for the fiscal year
 
 
 
 
 
ended Dec. 31, 2015.
 
 
 
 
 
 
 
 
 
 
 
 
 



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