Equity

3 Months Ended

Mar. 31, 2017

Equity

EQUITY (Entergy Corporation and Entergy Louisiana)

Common Stock

Earnings per Share

The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements:

	For the Three Months Ended March 31,
	2017					2016
	(In Millions, Except Per Share Data)
Basic earnings per share	Income		Shares	$/share		Income		Shares	$/share
Net income attributable to Entergy Corporation		$82.6	179.3		$0.46		$230.0	178.6		$1.29
Average dilutive effect of:
Stock options			0.1	—				0.1	—
Other equity plans			0.4	—				0.3	(0.01		)
Diluted earnings per share		$82.6	179.8		$0.46		$230.0	179.0		$1.28

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.9 million for the three months ended March 31, 2017 and approximately 6.1 million for the three months ended March 31, 2016.

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

Treasury Stock

During the three months ended March 31, 2017, Entergy Corporation issued 303,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards.  Entergy Corporation did not repurchase any of its common stock during the three months ended March 31, 2017.

Retained Earnings

On April 5, 2017, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on June 1, 2017, to holders of record as of May 11, 2017.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended March 31, 2017 by component:

	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation		Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2017		$3,993			($469,446	)		$429,734			$748		($34,971	)
Other comprehensive income (loss) before reclassifications	32,608			—			39,872			—		72,480
Amounts reclassified from accumulated other comprehensive income (loss)	(33,136		)	8,632			(2,045		)	—		(26,549		)
Net other comprehensive income (loss) for the period	(528		)	8,632			37,827			—		45,931
Ending balance, March 31, 2017		$3,465			($460,814	)		$467,561			$748		$10,960

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended March 31, 2016 by component:

	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2016		$105,970			($466,604	)		$367,557			$2,028			$8,951
Other comprehensive income (loss) before reclassifications	90,307			—			25,032			(284		)	115,055
Amounts reclassified from accumulated other comprehensive income (loss)	(99,813		)	7,562			(1,963		)	—			(94,214		)
Net other comprehensive income (loss) for the period	(9,506		)	7,562			23,069			(284		)	20,841
Ending balance, March 31, 2016		$96,464			($459,042	)		$390,626			$1,744			$29,792

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended March 31, 2017 and 2016:

	Pension and Other Postretirement Liabilities
	2017			2016
	(In Thousands)
Beginning balance, January 1,		($48,442	)		($56,412	)
Amounts reclassified from accumulated other comprehensive income (loss)	(370		)	(263		)
Net other comprehensive income (loss) for the period	(370		)	(263		)
Ending balance, March 31,		($48,812	)		($56,675	)

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended March 31, 2017 and 2016 are as follows:

	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$51,227			$153,958		Competitive business operating revenues
Interest rate swaps	(250		)	(400		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	50,977			153,558
	(17,841		)	(53,745		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$33,136			$99,813
Pension and other postretirement liabilities
Amortization of prior-service credit		$6,562			$7,355		(a)
Amortization of loss	(21,571		)	(15,175		)	(a)
Total amortization	(15,009		)	(7,820		)
	6,377			258			Income taxes
Total amortization (net of tax)		($8,632	)		($7,562	)
Net unrealized investment gain (loss)
Realized gain (loss)		$4,010			$3,850		Interest and investment income
	(1,965		)	(1,887		)	Income taxes
Total realized investment gain (loss) (net of tax)		$2,045			$1,963
Total reclassifications for the period (net of tax)		$26,549			$94,214

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended March 31, 2017 and 2016 are as follows:

	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$1,934			$1,947		(a)
Amortization of loss	(1,332		)	(1,569		)	(a)
Total amortization	602			378
	(232		)	(115		)	Income taxes
Total amortization (net of tax)	370			263
Total reclassifications for the period (net of tax)		$370			$263

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.

Entergy Louisiana [Member]

Equity

EQUITY (Entergy Corporation and Entergy Louisiana)

Common Stock

Earnings per Share

The following table presents Entergy’s basic and diluted earnings per share calculations included on the consolidated income statements:

	For the Three Months Ended March 31,
	2017					2016
	(In Millions, Except Per Share Data)
Basic earnings per share	Income		Shares	$/share		Income		Shares	$/share
Net income attributable to Entergy Corporation		$82.6	179.3		$0.46		$230.0	178.6		$1.29
Average dilutive effect of:
Stock options			0.1	—				0.1	—
Other equity plans			0.4	—				0.3	(0.01		)
Diluted earnings per share		$82.6	179.8		$0.46		$230.0	179.0		$1.28

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.9 million for the three months ended March 31, 2017 and approximately 6.1 million for the three months ended March 31, 2016.

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

Treasury Stock

During the three months ended March 31, 2017, Entergy Corporation issued 303,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards.  Entergy Corporation did not repurchase any of its common stock during the three months ended March 31, 2017.

Retained Earnings

On April 5, 2017, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on June 1, 2017, to holders of record as of May 11, 2017.

Comprehensive Income

Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended March 31, 2017 by component:

	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation		Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2017		$3,993			($469,446	)		$429,734			$748		($34,971	)
Other comprehensive income (loss) before reclassifications	32,608			—			39,872			—		72,480
Amounts reclassified from accumulated other comprehensive income (loss)	(33,136		)	8,632			(2,045		)	—		(26,549		)
Net other comprehensive income (loss) for the period	(528		)	8,632			37,827			—		45,931
Ending balance, March 31, 2017		$3,465			($460,814	)		$467,561			$748		$10,960

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended March 31, 2016 by component:

	Cash flow hedges net unrealized gain (loss)			Pension and other postretirement liabilities			Net unrealized investment gain (loss)			Foreign currency translation			Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2016		$105,970			($466,604	)		$367,557			$2,028			$8,951
Other comprehensive income (loss) before reclassifications	90,307			—			25,032			(284		)	115,055
Amounts reclassified from accumulated other comprehensive income (loss)	(99,813		)	7,562			(1,963		)	—			(94,214		)
Net other comprehensive income (loss) for the period	(9,506		)	7,562			23,069			(284		)	20,841
Ending balance, March 31, 2016		$96,464			($459,042	)		$390,626			$1,744			$29,792

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended March 31, 2017 and 2016:

	Pension and Other Postretirement Liabilities
	2017			2016
	(In Thousands)
Beginning balance, January 1,		($48,442	)		($56,412	)
Amounts reclassified from accumulated other comprehensive income (loss)	(370		)	(263		)
Net other comprehensive income (loss) for the period	(370		)	(263		)
Ending balance, March 31,		($48,812	)		($56,675	)

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended March 31, 2017 and 2016 are as follows:

	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts		$51,227			$153,958		Competitive business operating revenues
Interest rate swaps	(250		)	(400		)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	50,977			153,558
	(17,841		)	(53,745		)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)		$33,136			$99,813
Pension and other postretirement liabilities
Amortization of prior-service credit		$6,562			$7,355		(a)
Amortization of loss	(21,571		)	(15,175		)	(a)
Total amortization	(15,009		)	(7,820		)
	6,377			258			Income taxes
Total amortization (net of tax)		($8,632	)		($7,562	)
Net unrealized investment gain (loss)
Realized gain (loss)		$4,010			$3,850		Interest and investment income
	(1,965		)	(1,887		)	Income taxes
Total realized investment gain (loss) (net of tax)		$2,045			$1,963
Total reclassifications for the period (net of tax)		$26,549			$94,214

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended March 31, 2017 and 2016 are as follows:

	Amounts reclassified from AOCI						Income Statement Location
	2017			2016
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit		$1,934			$1,947		(a)
Amortization of loss	(1,332		)	(1,569		)	(a)
Total amortization	602			378
	(232		)	(115		)	Income taxes
Total amortization (net of tax)	370			263
Total reclassifications for the period (net of tax)		$370			$263

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost.  See Note 6 to the financial statements herein for additional details.