Equity (Tables)

9 Months Ended

Sep. 30, 2022

Schedule Of Earnings Per Share Basic And Diluted

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

	For the Three Months Ended September 30,
	2022			2021
	(In Millions, Except Per Share Data)
	Income	Shares	$/share	Income	Shares	$/share
Basic earnings per share
Net income attributable to Entergy Corporation	$560.6	203.4	$2.76	$531.0	201.0	$2.64
Average dilutive effect of:
Stock options		0.5	(0.01)		0.4	—
Other equity plans		0.6	(0.01)		0.6	(0.01)
Equity Forwards		0.1	—		—	—
Diluted earnings per share	$560.6	204.6	$2.74	$531.0	202.0	$2.63

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.9 million for the three months ended September 30, 2022 and approximately 1 million for the three months ended September 30, 2021.

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

	For the Nine Months Ended September 30,
	2022			2021
	(In Millions, Except Per Share Data)
	Income	Shares	$/share	Income	Shares	$/share
Basic earnings per share
Net income attributable to Entergy Corporation	$996.7	203.3	$4.90	$859.6	200.8	$4.28
Average dilutive effect of:
Stock options		0.5	(0.01)		0.4	(0.01)
Other equity plans		0.5	(0.01)		0.4	(0.01)
Equity forwards		0.1	—		—	—
Diluted earnings per share	$996.7	204.4	$4.88	$859.6	201.6	$4.26

The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 0.9 million for the nine months ended September 30, 2022 and approximately 1 million for the nine months ended September 30, 2021.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2022 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, July 1, 2022	($987)	($324,274)	$1,223	($324,038)
Other comprehensive income (loss) before reclassifications	(14)	—	(1,223)	(1,237)
Amounts reclassified from accumulated other comprehensive income (loss)	38	11,867	—	11,905
Net other comprehensive income (loss) for the period	24	11,867	(1,223)	10,668
Ending balance, September 30, 2022	($963)	($312,407)	$—	($313,370)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the

three months ended September 30, 2021 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, July 1, 2021	($1,083)	($489,511)	$11,855	($478,739)
Other comprehensive income (loss) before reclassifications	(14)	—	(2,173)	(2,187)
Amounts reclassified from accumulated other comprehensive income (loss)	38	8,838	11	8,887
Net other comprehensive income (loss) for the period	24	8,838	(2,162)	6,700
Ending balance, September 30, 2021	($1,059)	($480,673)	$9,693	($472,039)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2022 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2022	($1,035)	($338,647)	$7,154	($332,528)
Other comprehensive income (loss) before reclassifications	(42)	—	(12,997)	(13,039)
Amounts reclassified from accumulated other comprehensive income (loss)	114	26,240	5,843	32,197
Net other comprehensive income (loss) for the period	72	26,240	(7,154)	19,158
Ending balance, September 30, 2022	($963)	($312,407)	$—	($313,370)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2021 by component:

	Cash flow hedges net unrealized gain (loss)	Pension and other postretirement liabilities	Net unrealized investment gain (loss)	Total Accumulated Other Comprehensive Income (Loss)
	(In Thousands)
Beginning balance, January 1, 2021	$28,719	($534,576)	$56,650	($449,207)
Other comprehensive income (loss) before reclassifications	1,454	—	(46,826)	(45,372)
Amounts reclassified from accumulated other comprehensive income (loss)	(31,232)	53,903	(131)	22,540
Net other comprehensive income (loss) for the period	(29,778)	53,903	(46,957)	(22,832)
Ending balance, September 30, 2021	($1,059)	($480,673)	$9,693	($472,039)

Reclassification out of Accumulated Other Comprehensive Income

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy for the three months ended September 30, 2022 and 2021 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2022	2021
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts	$—	$—	Competitive business operating revenues
Interest rate swaps	(48)	(48)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	(48)	(48)
Income taxes	10	10	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)	($38)	($38)
Pension and other postretirement liabilities
Amortization of prior-service credit	$3,837	$5,248	(a)
Amortization of loss	(4,870)	(13,490)	(a)
Settlement loss	(14,339)	(3,192)	(a)
Total amortization	(15,372)	(11,434)
Income taxes	3,505	2,596	Income taxes
Total amortization (net of tax)	($11,867)	($8,838)
Net unrealized investment gain (loss)
Realized gain (loss)	$—	($17)	Interest and investment income
Income taxes	—	6	Income taxes
Total realized investment gain (loss) (net of tax)	$—	($11)
Total reclassifications for the period (net of tax)	($11,905)	($8,887)

(a)These accumulated other comprehensive income (loss) components were 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) into income for Entergy for the nine months ended September 30, 2022 and 2021 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2022	2021
	(In Thousands)
Cash flow hedges net unrealized gain (loss)
Power contracts	$—	$39,679	Competitive business operating revenues
Interest rate swaps	(145)	(145)	Miscellaneous - net
Total realized gain (loss) on cash flow hedges	(145)	39,534
Income taxes	31	(8,302)	Income taxes
Total realized gain (loss) on cash flow hedges (net of tax)	($114)	$31,232
Pension and other postretirement liabilities
Amortization of prior-service credit	$11,511	$15,744	(a)
Amortization of loss	(29,774)	(75,553)	(a)
Settlement loss	(15,666)	(9,235)	(a)
Total amortization	(33,929)	(69,044)
Income taxes	7,689	15,141	Income taxes
Total amortization (net of tax)	($26,240)	($53,903)
Net unrealized investment gain (loss)
Realized gain (loss)	($9,245)	$207	Interest and investment income
Income taxes	3,402	(76)	Income taxes
Total realized investment gain (loss) (net of tax)	($5,843)	$131
Total reclassifications for the period (net of tax)	($32,197)	($22,540)

(a)These accumulated other comprehensive income (loss) components were 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]

Schedule of noncontrolling interest

The dollar value of noncontrolling interest for Entergy Louisiana as of September 30, 2022 and December 31, 2021 is presented below:

	2022	2021
	(In Thousands)
Entergy Louisiana Noncontrolling Interest
Restoration Law Trust I (a)	$32,448	$—
Total Noncontrolling Interest	$32,448	$—

(a)Restoration Law Trust I was established as part of the Act 293 securitization of Entergy Louisiana’s Hurricane Laura, Hurricane Delta, Hurricane Zeta, and Winter Storm Uri restoration costs, as well as to establish a storm reserve to fund a portion of Hurricane Ida storm restoration costs. Restoration Law Trust I holds preferred membership interests issued by Entergy Finance Company, and Entergy Finance Company is required to make annual distributions (dividends) on the preferred membership interests. These annual dividends paid on the Entergy Finance Company preferred membership interests will be distributed 1% to the LURC and 99% to Entergy Louisiana. Entergy Louisiana, as the primary beneficiary, consolidates Restoration Law Trust I and the LURC’s 1% beneficial interest is shown as noncontrolling interest in the consolidated financial statements for Entergy Louisiana and Entergy. See Note 2 to the financial statements herein for a discussion of the Entergy Louisiana securitization.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2022 and 2021:

	Pension and Other Postretirement Liabilities
	2022	2021
	(In Thousands)
Beginning balance, July 1,	$7,174	$4,508
Amounts reclassified from accumulated other comprehensive income (loss)	295	(131)
Net other comprehensive income (loss) for the period	295	(131)
Ending balance, September 30,	$7,469	$4,377

The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2022 and 2021:

	Pension and Other Postretirement Liabilities
	2022	2021
	(In Thousands)
Beginning balance, January 1,	$8,278	$4,327
Amounts reclassified from accumulated other comprehensive income (loss)	(809)	50
Net other comprehensive income (loss) for the period	(809)	50
Ending balance, September 30,	$7,469	$4,377

Reclassification out of Accumulated Other Comprehensive Income

Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) into income for Entergy Louisiana for the three months ended September 30, 2022 and 2021 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2022	2021
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$1,158	$1,230	(a)
Amortization of loss	(222)	(519)	(a)
Settlement loss	(1,340)	(534)	(a)
Total amortization	(404)	177
Income taxes	109	(46)	Income taxes
Total amortization (net of tax)	(295)	131
Total reclassifications for the period (net of tax)	($295)	$131

(a)These accumulated other comprehensive income (loss) components were 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) into income for Entergy Louisiana for the nine months ended September 30, 2022 and 2021 were as follows:

	Amounts reclassified from AOCI		Income Statement Location
	2022	2021
	(In Thousands)
Pension and other postretirement liabilities
Amortization of prior-service credit	$3,474	$3,690	(a)
Amortization of loss	(849)	(1,824)	(a)
Settlement loss	(1,518)	(1,934)	(a)
Total amortization	1,107	(68)
Income taxes	(298)	18	Income taxes
Total amortization (net of tax)	809	(50)
Total reclassifications for the period (net of tax)	$809	($50)

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

Entergy Mississippi [Member]

Schedule of noncontrolling interest

The dollar value of noncontrolling interest for Entergy Mississippi as of September 30, 2022 and December 31, 2021 is presented below:

	2022	2021
	(In Thousands)
Entergy Mississippi Noncontrolling Interest
MS Sunflower Partnership, LLC (a)	$478	$—
Total Noncontrolling Interest	$478	$—

(a)In May 2022, MS Sunflower Partnership, LLC, a tax equity partnership between Entergy Mississippi and a tax equity investor, made the initial payment for the purchase of the Sunflower Solar facility. Substantial completion of the Sunflower Solar facility was accepted by Entergy Mississippi in September 2022. A final payment of the purchase price is currently expected in fourth quarter 2022. Entergy Mississippi, as the managing member, consolidates MS Sunflower Partnership, LLC and the tax equity investor’s interest is shown as noncontrolling interest in the consolidated financial statements for Entergy Mississippi and Entergy. Entergy Mississippi uses the HLBV method of accounting for income or loss allocation to the tax equity investor’s noncontrolling interest. See Note 1 to the financial statements in the Form 10-K for discussion of the HLBV method of accounting used to account for Entergy Arkansas’s investment in AR Searcy Partnership, LLC which is the basis for treatment of Entergy Mississippi’s investment in MS Sunflower Partnership, LLC.