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Risk Management And Fair Values (Tables)

3 Months Ended

Mar. 31, 2020

The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of March 31, 2020 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Business
		(In Millions)
Derivatives designated as hedging instruments
Assets:
Electricity swaps and options	Prepayments and other (current portion)	$81	$—	$81	Entergy Wholesale Commodities
Derivatives not designated as hedging instruments
Assets:
Electricity swaps and options	Prepayments and other (current portion)	$8	($4)	$4	Entergy Wholesale Commodities
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$1	$—	$1	Utility
Financial transmission rights	Prepayments and other	$4	$—	$4	Utility and Entergy Wholesale Commodities
Liabilities:
Electricity swaps and options	Other current liabilities (current portion)	$3	($3)	$—	Entergy Wholesale Commodities
Natural gas swaps and options	Other current liabilities (current portion)	$7	$—	$7	Utility
Natural gas swaps and options	Other non-current liabilities (non-current portion)	$2	$—	$2	Utility

The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2019 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Business
		(In Millions)
Derivatives designated as hedging instruments
Assets:
Electricity swaps and options	Prepayments and other (current portion)	$92	($1)	$91	Entergy Wholesale Commodities
Electricity swaps and options	Other deferred debits and other assets (non-current portion)	$17	$—	$17	Entergy Wholesale Commodities
Liabilities:
Electricity swaps and options	Other current liabilities (current portion)	$1	($1)	$—	Entergy Wholesale Commodities
Derivatives not designated as hedging instruments
Assets:
Electricity swaps and options	Prepayments and other (current portion)	$11	($1)	$10	Entergy Wholesale Commodities
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$1	$—	$1	Utility
Financial transmission rights	Prepayments and other	$10	$—	$10	Utility and Entergy Wholesale Commodities
Liabilities:
Electricity swaps and options	Other current liabilities (current portion)	$2	($2)	$—	Entergy Wholesale Commodities
Natural gas swaps and options	Other current liabilities (current portion)	$5	$—	$5	Utility
Natural gas swaps and options	Other non-current liabilities (non-current portion)	$2	$—	$2	Utility


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet

(d)

Excludes cash collateral in the amount of $9 million posted as of March 31, 2020 and $11 million posted and $1 million held as of December 31, 2019. Also excludes letters of credit in the amount of $95 million held as of March 31, 2020 and $98 million held as of December 31, 201

Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income

The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the three months ended March 31, 2020 and 2019 were as follows:



Instrument	Amount of gain (loss) recognized in other comprehensive income	Income Statement location	Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a)
	(In Millions)		(In Millions)
2020
Electricity swaps and options	$67	Competitive businesses operating revenues	$94

2019
Electricity swaps and options	$26	Competitive businesses operating revenues	$52

(a)

Before taxes of $20 million and $11 million for the three months ended March 31, 2020 and 2019, respectively

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income

The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended March 31, 2020 and 2019 were as follows:



Instrument	Income Statement location		Amount of gain (loss) recorded in the income statement
			(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	(a)	($7)
Financial transmission rights	Purchased power expense	(b)	$13
Electricity swaps and options (c)	Competitive business operating revenues		$—

2019
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	(a)	($1)
Financial transmission rights	Purchased power expense	(b)	$21
Electricity swaps and options (c)	Competitive business operating revenues		$5

Assets and liabilities at fair value on a recurring basis

The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2020 and December 31, 2019. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels.



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$1,180		$—		$—		$1,180
Decommissioning trust funds (a):
Equity securities	745		—		—		745
Debt securities (b)	1,151		1,893		—		3,044
Common trusts (c)							1,992
Power contracts	—		—		85		85
Securitization recovery trust account	47		—		—		47
Escrow accounts	420		—		—		420
Gas hedge contracts	—		1		—		1
Financial transmission rights	—		—		4		4
		$3,543		$1,894		$89		$7,518

Liabilities:
Gas hedge contracts		$7		$2		$—		$9



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$391		$—		$—		$391
Decommissioning trust funds (a):
Equity securities	905		—		—		905
Debt securities	1,139		1,824		—		2,963
Common trusts (c)							2,536
Power contracts	—		—		118		118
Securitization recovery trust account	47		—		—		47
Escrow accounts	459		—		—		459
Gas hedge contracts	—		1		—		1
Financial transmission rights	—		—		10		10
		$2,941		$1,825		$128		$7,430
Liabilities:
Gas hedge contracts		$5		$2		$—		$7


(a)	The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios.


(b)	The decommissioning trust funds fair value presented herein does not include the recognition of a credit loss valuation allowance of $3 million on debt securities due to the adoption of ASU 2016-13. See Note 9 to the financial statements herein for additional information on the allowance for expected credit losses.

(c)

Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date.

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy

The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the three months ended March 31, 2020 and 2019:



	2020						2019
	Power Contracts			Financial transmission rights			Power Contracts			Financial transmission rights
	(In Millions)
Balance as of January 1,		$118			$10			($31	)		$15
Total gains (losses) for the period (a)
Included in earnings	(18		)	—			5			—
Included in other comprehensive income	67			—			26			—
Included as a regulatory liability/asset	—			7			—			11
Settlements	(82		)	(13		)	(46		)	(21		)
Balance as of March 31,		$85			$4			($46	)		$5


(a)	Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period was $1 million for the three months ended March 31, 2020 and ($4.9) million for the three months ended March 31, 2019.

Fair Value Inputs Liabilities Quantitative Information

The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification as of March 31, 2020:



Transaction Type	Fair Value	Significant Unobservable Inputs	Range from Average %		Effect on Fair Value
	(In Millions)				(In Millions)
Power contracts - electricity swaps	$85	Unit contingent discount	+/-	4.75%	$9

Entergy Arkansas [Member]

Fair Values Of Derivative Instruments

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of March 31, 2020 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Prepayments and other	$0.2	$—	$0.2	Entergy Louisiana
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$0.9	$—	$0.9	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.1	$—	$1.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.5	$—	$2.5	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.3	$—	$2.3	Entergy Louisiana
Natural gas swaps	Other current liabilities	$4.4	$—	$4.4	Entergy Mississippi

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 were as follows:



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Other deferred debits and other assets	$0.8	$—	$0.8	Entergy Louisiana
Financial transmission rights	Prepayments and other	$3.4	($0.1)	$3.3	Entergy Arkansas
Financial transmission rights	Prepayments and other	$4.5	$—	$4.5	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.8	$—	$0.8	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$1.0	($0.1)	$0.9	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.4	$—	$2.4	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.2	$—	$2.2	Entergy Louisiana
Natural gas swaps	Other current liabilities	$2.3	$—	$2.3	Entergy Mississippi
Natural gas swaps	Other current liabilities	$0.2	$—	$0.2	Entergy New Orleans


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)

As of March 31, 2020, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi. As of December 31, 2019, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Mississippi

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income

The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended March 31, 2020 and 2019 were as follows:



Instrument	Income Statement Location	Amount of gain (loss) recorded in the income statement		Registrant
		(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	($1.3)	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($5.2)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($0.4)	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$4.6	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$5.3	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	($0.1)	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$0.4	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$2.4	(b)	Entergy Texas

2019
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	$0.8	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($1.8)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	$0.2	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$8.4	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$8.8	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	$1.1	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$1.9	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$0.3	(b)	Entergy Texas

Assets and liabilities at fair value on a recurring basis

Entergy Arkansas



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$136.9		$—		$—		$136.9
Decommissioning trust funds (a):
Equity securities	14.4		—		—		14.4
Debt securities	107.2		310.6		—		417.8
Common trusts (b)							541.8
Securitization recovery trust account	7.5		—		—		7.5
Financial transmission rights	—		—		1.1		1.1
		$266.0		$310.6		$1.1		$1,119.5



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Decommissioning trust funds (a):
Equity securities		$0.6		$—		$—		$0.6
Debt securities	108.7		304.1		—		412.8
Common trusts (b)							687.9
Securitization recovery trust account	4.0		—		—		4.0
Financial transmission rights	—		—		3.3		3.3
		$113.3		$304.1		$3.3		$1,108.6

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.3			$4.5			$0.8			$0.3			$0.9
Gains (losses) included as a regulatory liability/asset	2.4			2.7			(0.6		)	0.1			1.8
Settlements	(4.6		)	(5.3		)	0.1			(0.4		)	(2.4		)
Balance as of March 31,		$1.1			$1.9			$0.3			$—			$0.3



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.4			$8.3			$2.2			$1.3			($0.5	)
Gains (losses) included as a regulatory liability/asset	6.1			3.3			(0.4		)	1.1			0.5
Settlements	(8.4		)	(8.8		)	(1.1		)	(1.9		)	(0.3		)
Balance as of March 31,		$1.1			$2.8			$0.7			$0.5			($0.3	)

Entergy Louisiana [Member]

Fair Values Of Derivative Instruments



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Prepayments and other	$0.2	$—	$0.2	Entergy Louisiana
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$0.9	$—	$0.9	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.1	$—	$1.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.5	$—	$2.5	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.3	$—	$2.3	Entergy Louisiana
Natural gas swaps	Other current liabilities	$4.4	$—	$4.4	Entergy Mississippi

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 were as follows:



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Other deferred debits and other assets	$0.8	$—	$0.8	Entergy Louisiana
Financial transmission rights	Prepayments and other	$3.4	($0.1)	$3.3	Entergy Arkansas
Financial transmission rights	Prepayments and other	$4.5	$—	$4.5	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.8	$—	$0.8	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$1.0	($0.1)	$0.9	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.4	$—	$2.4	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.2	$—	$2.2	Entergy Louisiana
Natural gas swaps	Other current liabilities	$2.3	$—	$2.3	Entergy Mississippi
Natural gas swaps	Other current liabilities	$0.2	$—	$0.2	Entergy New Orleans


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income



Instrument	Income Statement Location	Amount of gain (loss) recorded in the income statement		Registrant
		(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	($1.3)	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($5.2)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($0.4)	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$4.6	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$5.3	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	($0.1)	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$0.4	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$2.4	(b)	Entergy Texas

2019
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	$0.8	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($1.8)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	$0.2	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$8.4	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$8.8	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	$1.1	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$1.9	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$0.3	(b)	Entergy Texas

Assets and liabilities at fair value on a recurring basis

Entergy Louisiana



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$465.2		$—		$—		$465.2
Decommissioning trust funds (a):
Equity securities	15.7		—		—		15.7
Debt securities	171.1		431.9		—		603.0
Common trusts (b)							759.2
Escrow accounts	256.4		—		—		256.4
Securitization recovery trust account	9.0		—		—		9.0
Gas hedge contracts	0.2		0.9		—		1.1
Financial transmission rights	—		—		1.9		1.9
		$917.6		$432.8		$1.9		$2,111.5

Liabilities:
Gas hedge contracts		$2.5		$2.3		$—		$4.8



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$1.5		$—		$—		$1.5
Decommissioning trust funds (a):
Equity securities	4.3		—		—		4.3
Debt securities	180.8		420.7		—		601.5
Common trusts (b)							958.0
Escrow accounts	295.9		—		—		295.9
Securitization recovery trust account	3.7		—		—		3.7
Gas hedge contracts	—		0.8		—		0.8
Financial transmission rights	—		—		4.5		4.5
		$486.2		$421.5		$4.5		$1,870.2

Liabilities:
Gas hedge contracts		$2.4		$2.2		$—		$4.6

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.3			$4.5			$0.8			$0.3			$0.9
Gains (losses) included as a regulatory liability/asset	2.4			2.7			(0.6		)	0.1			1.8
Settlements	(4.6		)	(5.3		)	0.1			(0.4		)	(2.4		)
Balance as of March 31,		$1.1			$1.9			$0.3			$—			$0.3



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.4			$8.3			$2.2			$1.3			($0.5	)
Gains (losses) included as a regulatory liability/asset	6.1			3.3			(0.4		)	1.1			0.5
Settlements	(8.4		)	(8.8		)	(1.1		)	(1.9		)	(0.3		)
Balance as of March 31,		$1.1			$2.8			$0.7			$0.5			($0.3	)

Entergy Mississippi [Member]

Fair Values Of Derivative Instruments



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Prepayments and other	$0.2	$—	$0.2	Entergy Louisiana
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$0.9	$—	$0.9	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.1	$—	$1.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.5	$—	$2.5	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.3	$—	$2.3	Entergy Louisiana
Natural gas swaps	Other current liabilities	$4.4	$—	$4.4	Entergy Mississippi

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 were as follows:



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Other deferred debits and other assets	$0.8	$—	$0.8	Entergy Louisiana
Financial transmission rights	Prepayments and other	$3.4	($0.1)	$3.3	Entergy Arkansas
Financial transmission rights	Prepayments and other	$4.5	$—	$4.5	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.8	$—	$0.8	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$1.0	($0.1)	$0.9	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.4	$—	$2.4	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.2	$—	$2.2	Entergy Louisiana
Natural gas swaps	Other current liabilities	$2.3	$—	$2.3	Entergy Mississippi
Natural gas swaps	Other current liabilities	$0.2	$—	$0.2	Entergy New Orleans


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income



Instrument	Income Statement Location	Amount of gain (loss) recorded in the income statement		Registrant
		(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	($1.3)	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($5.2)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($0.4)	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$4.6	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$5.3	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	($0.1)	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$0.4	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$2.4	(b)	Entergy Texas

2019
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	$0.8	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($1.8)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	$0.2	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$8.4	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$8.8	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	$1.1	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$1.9	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$0.3	(b)	Entergy Texas

Assets and liabilities at fair value on a recurring basis

Entergy Mississippi



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Escrow accounts		$80.3		$—		$—		$80.3
Financial transmission rights	—		—		0.3		0.3
		$80.3		$—		$0.3		$80.6

Liabilities:
Gas hedge contracts		$4.4		$—		$—		$4.4



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$51.6		$—		$—		$51.6
Escrow accounts	80.2		—		—		80.2
Financial transmission rights	—		—		0.8		0.8
		$131.8		$—		$0.8		$132.6

Liabilities:
Gas hedge contracts		$2.3		$—		$—		$2.3

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.3			$4.5			$0.8			$0.3			$0.9
Gains (losses) included as a regulatory liability/asset	2.4			2.7			(0.6		)	0.1			1.8
Settlements	(4.6		)	(5.3		)	0.1			(0.4		)	(2.4		)
Balance as of March 31,		$1.1			$1.9			$0.3			$—			$0.3



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.4			$8.3			$2.2			$1.3			($0.5	)
Gains (losses) included as a regulatory liability/asset	6.1			3.3			(0.4		)	1.1			0.5
Settlements	(8.4		)	(8.8		)	(1.1		)	(1.9		)	(0.3		)
Balance as of March 31,		$1.1			$2.8			$0.7			$0.5			($0.3	)

Entergy New Orleans [Member]

Fair Values Of Derivative Instruments



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Prepayments and other	$0.2	$—	$0.2	Entergy Louisiana
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$0.9	$—	$0.9	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.1	$—	$1.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.5	$—	$2.5	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.3	$—	$2.3	Entergy Louisiana
Natural gas swaps	Other current liabilities	$4.4	$—	$4.4	Entergy Mississippi

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 were as follows:



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Other deferred debits and other assets	$0.8	$—	$0.8	Entergy Louisiana
Financial transmission rights	Prepayments and other	$3.4	($0.1)	$3.3	Entergy Arkansas
Financial transmission rights	Prepayments and other	$4.5	$—	$4.5	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.8	$—	$0.8	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$1.0	($0.1)	$0.9	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.4	$—	$2.4	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.2	$—	$2.2	Entergy Louisiana
Natural gas swaps	Other current liabilities	$2.3	$—	$2.3	Entergy Mississippi
Natural gas swaps	Other current liabilities	$0.2	$—	$0.2	Entergy New Orleans


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income



Instrument	Income Statement Location	Amount of gain (loss) recorded in the income statement		Registrant
		(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	($1.3)	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($5.2)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($0.4)	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$4.6	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$5.3	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	($0.1)	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$0.4	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$2.4	(b)	Entergy Texas

2019
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	$0.8	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($1.8)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	$0.2	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$8.4	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$8.8	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	$1.1	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$1.9	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$0.3	(b)	Entergy Texas

Assets and liabilities at fair value on a recurring basis

Entergy New Orleans



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$72.3		$—		$—		$72.3
Securitization recovery trust account	4.9		—		—		4.9
Escrow accounts	82.9		—		—		82.9
		$160.1		$—		$—		$160.1



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$6.0		$—		$—		$6.0
Securitization recovery trust account	2.0		—		—		2.0
Escrow accounts	82.6		—		—		82.6
Financial transmission rights	—		—		0.3		0.3
		$90.6		$—		$0.3		$90.9

Liabilities:
Gas hedge contracts		$0.2		$—		$—		$0.2

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.3			$4.5			$0.8			$0.3			$0.9
Gains (losses) included as a regulatory liability/asset	2.4			2.7			(0.6		)	0.1			1.8
Settlements	(4.6		)	(5.3		)	0.1			(0.4		)	(2.4		)
Balance as of March 31,		$1.1			$1.9			$0.3			$—			$0.3



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.4			$8.3			$2.2			$1.3			($0.5	)
Gains (losses) included as a regulatory liability/asset	6.1			3.3			(0.4		)	1.1			0.5
Settlements	(8.4		)	(8.8		)	(1.1		)	(1.9		)	(0.3		)
Balance as of March 31,		$1.1			$2.8			$0.7			$0.5			($0.3	)

Entergy Texas [Member]

Fair Values Of Derivative Instruments



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Prepayments and other	$0.2	$—	$0.2	Entergy Louisiana
Natural gas swaps and options	Other deferred debits and other assets (non-current portion)	$0.9	$—	$0.9	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.1	$—	$1.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.5	$—	$2.5	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.3	$—	$2.3	Entergy Louisiana
Natural gas swaps	Other current liabilities	$4.4	$—	$4.4	Entergy Mississippi

The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2019 were as follows:



Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
Assets:
Natural gas swaps and options	Other deferred debits and other assets	$0.8	$—	$0.8	Entergy Louisiana
Financial transmission rights	Prepayments and other	$3.4	($0.1)	$3.3	Entergy Arkansas
Financial transmission rights	Prepayments and other	$4.5	$—	$4.5	Entergy Louisiana
Financial transmission rights	Prepayments and other	$0.8	$—	$0.8	Entergy Mississippi
Financial transmission rights	Prepayments and other	$0.3	$—	$0.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$1.0	($0.1)	$0.9	Entergy Texas

Liabilities:
Natural gas swaps and options	Other current liabilities	$2.4	$—	$2.4	Entergy Louisiana
Natural gas swaps and options	Other non-current liabilities	$2.2	$—	$2.2	Entergy Louisiana
Natural gas swaps	Other current liabilities	$2.3	$—	$2.3	Entergy Mississippi
Natural gas swaps	Other current liabilities	$0.2	$—	$0.2	Entergy New Orleans


(a)	Represents the gross amounts of recognized assets/liabilities


(b)	Represents the netting of fair value balances with the same counterparty


(c)	Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)

Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income



Instrument	Income Statement Location	Amount of gain (loss) recorded in the income statement		Registrant
		(In Millions)
2020
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	($1.3)	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($5.2)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($0.4)	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$4.6	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$5.3	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	($0.1)	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$0.4	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$2.4	(b)	Entergy Texas

2019
Natural gas swaps and options	Fuel, fuel-related expenses, and gas purchased for resale	$0.8	(a)	Entergy Louisiana
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	($1.8)	(a)	Entergy Mississippi
Natural gas swaps	Fuel, fuel-related expenses, and gas purchased for resale	$0.2	(a)	Entergy New Orleans

Financial transmission rights	Purchased power expense	$8.4	(b)	Entergy Arkansas
Financial transmission rights	Purchased power expense	$8.8	(b)	Entergy Louisiana
Financial transmission rights	Purchased power expense	$1.1	(b)	Entergy Mississippi
Financial transmission rights	Purchased power expense	$1.9	(b)	Entergy New Orleans
Financial transmission rights	Purchased power expense	$0.3	(b)	Entergy Texas

Assets and liabilities at fair value on a recurring basis

Entergy Texas



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$159.7		$—		$—		$159.7
Securitization recovery trust account	26.1		—		—		26.1
Financial transmission rights	—		—		0.3		0.3
		$185.8		$—		$0.3		$186.1



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$12.9		$—		$—		$12.9
Securitization recovery trust account	37.7		—		—		37.7
Financial transmission rights	—		—		0.9		0.9
		$50.6		$—		$0.9		$51.5

Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.3			$4.5			$0.8			$0.3			$0.9
Gains (losses) included as a regulatory liability/asset	2.4			2.7			(0.6		)	0.1			1.8
Settlements	(4.6		)	(5.3		)	0.1			(0.4		)	(2.4		)
Balance as of March 31,		$1.1			$1.9			$0.3			$—			$0.3



	Entergy Arkansas			Entergy Louisiana			Entergy Mississippi			Entergy New Orleans			Entergy Texas
	(In Millions)
Balance as of January 1,		$3.4			$8.3			$2.2			$1.3			($0.5	)
Gains (losses) included as a regulatory liability/asset	6.1			3.3			(0.4		)	1.1			0.5
Settlements	(8.4		)	(8.8		)	(1.1		)	(1.9		)	(0.3		)
Balance as of March 31,		$1.1			$2.8			$0.7			$0.5			($0.3	)

System Energy [Member]

Assets and liabilities at fair value on a recurring basis

System Energy



2020	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$92.3		$—		$—		$92.3
Decommissioning trust funds (a):
Equity securities	4.9		—		—		4.9
Debt Securities	185.1		222.9		—		408.0
Common trusts (b)							515.5
		$282.3		$222.9		$—		$1,020.7



2019	Level 1		Level 2		Level 3		Total
	(In Millions)
Assets:
Temporary cash investments		$68.4		$—		$—		$68.4
Decommissioning trust funds (a):
Equity securities	13.3		—		—		13.3
Debt securities	176.3		209.9		—		386.2
Common trusts (b)							654.6
		$258.0		$209.9		$—		$1,122.5