8-K

UNITED STATES

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) April 26, 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 2.02. Results of Operations and Financial Condition

On April 26, 2016, Entergy Corporation will issue a public announcement, which is attached as Exhibit 99.1 hereto (the “Earnings Release”) and incorporated herein by reference, announcing its results of operations and financial condition for the first quarter 2016. The information in Exhibit 99.1 is being furnished, not filed, pursuant to this Item 2.02.

Item 7.01. Regulation FD Disclosure

On April 26, 2016, Entergy Corporation will issue the Earnings Release, which is attached as Exhibit 99.1 hereto and incorporated herein by reference, announcing its results of operations and financial condition for the first quarter 2016. The information in Exhibit 99.1 is being furnished, not filed, pursuant to this Item 7.01.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.	Description
99.1	Release, dated April 26, 2016, issued by Entergy Corporation
99.2	Statement on Uses and Usefulness of Non-GAAP Financial Measures

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, each 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/ Alyson M. Mount

Alyson M. Mount

Senior Vice President and

Chief Accounting Officer

Dated: April 26, 2016

EX-99.1

Entergy

639 Loyola Avenue

New Orleans, LA 70113

Exhibit 99.1

Date:	April 26, 2016
For Release:	Immediately
Contact:	Kay Jones (Media) (504) 576-4238 cjone22@entergy.com	David Borde (Investor Relations) (504) 576-5668 dborde@entergy.com

ENTERGY REPORTS FIRST QUARTER EARNINGS

Productive first quarter positions company to meet full year goals; 2016 guidance affirmed

NEW ORLEANS - Entergy Corporation (NYSE: ETR) reported first quarter 2016 earnings per share of $1.28 on an as-reported basis and $1.35 on an operational basis.

“This quarter was a good start to another important year for Entergy. Given the challenges and opportunities ahead, we are confident that we can deliver on our 2016 earnings commitments as well as our Adjusted Utility, Parent & Other long-term outlook,” said Entergy chairman and chief executive officer Leo Denault. “We accomplished what we set out to do, including the acquisition of the Union Power Station and the finalization of Entergy Arkansas’ rate case. In the quarter we also had industrial sales growth of over six percent. Our results are the outcome of the strategy we have been pursuing for some time to create sustainable value for all our stakeholders in 2016 and beyond.”

Table of Contents Page

News Release1

Appendices6

A: Consolidated Results and Special Items8

B: Variance Analysis10

C: Utility Financial and Performance Measures11

D: EWC Performance Measures12

E: Consolidated Financial Performance Measures13

F: Definitions, Abbreviations and Acronyms14

G: GAAP to Non-GAAP Reconciliations18

Financial Statements22

Business highlights included the following:

• Entergy Arkansas, Entergy Louisiana and Entergy New Orleans closed their acquisition of Union Power Station.

• ELL began construction on the Lake Charles Transmission Project, a $159 million project that will support continued reliable service to a rapidly growing area in our service territory.

• EAI finalized its 2015 rate case.

• Entergy Mississippi filed its annual formula rate plan with forward-looking features.

• Entergy announced it intends to refuel Pilgrim Nuclear Power Station in spring of 2017, then cease operations on May 31, 2019.

• Entergy was selected as a finalist for the 2016 Secretary of Defense Employer Support Freedom Award.

• The Environmental Protection Agency named ENOI a 2016 ENERGY STAR® Partner of the Year for its outstanding contributions in implementing energy-efficiency measures.

Consolidated Earnings (GAAP and Non-GAAP measures)
First Quarter 2016 vs. 2015 (See Appendix A for reconciliation of GAAP to non-GAAP measures)
	First Quarter
	2016	2015	Change
As-Reported Earnings ($ in millions)	230.0	298.1	(68.1)
Less Special Items	(12.9)	(4.6)	(8.3)
Operational Earnings	242.8	302.7	(59.9)
Weather Impact	(25.4)	14.3	(39.7)
As-Reported Earnings (per share in $)	1.28	1.65	(0.37)
Less: Special Items	(0.07)	(0.03)	(0.04)
Operational Earnings	1.35	1.68	(0.33)
Weather Impact	(0.14)	0.08	(0.22)

Totals may not foot due to rounding

Consolidated Results

First quarter 2016 EPS were $1.28 on an as-reported basis and $1.35 on an operational basis, compared to first quarter 2015 as-reported EPS of $1.65 and operational EPS of $1.68, which were favorably impacted by weather and income tax items. Summary discussions by business unit are below. Additional details, including information on operating cash flow by business, are provided in Appendix A and a comprehensive analysis of quarterly variances is provided in Appendix B.

Utility, Parent & Other Results

For first quarter 2016, Utility, Parent and Other EPS were 84 cents on an as-reported and an operational basis. In comparison, 2015 first quarter as-reported and operational EPS were 97 cents. The quarter’s results reflected growth in the Utility business, including effects of new rate actions that recover investments and improve Utility returns. However, the impacts from milder weather this winter and tax items recorded in the first quarter of last year led to the overall decline in results.

During the quarter, the Utility completed both EAI’s 2015 rate case and the Union Power Station acquisition. Revenue increases for the Union acquisition included amounts to recover operating expenses for the asset. Utility non-fuel O&M was lower than first quarter 2015 partly due to lower scope of work for fossil outages, deferral of previously-expensed costs resulting from EAI’s rate case order and lower pension and other post-retirement benefit expenses. Increased non-fuel O&M expense for nuclear generation due to higher regulatory compliance costs at ANO partially offset these favorable non-fuel O&M items.

Billed retail sales volume decreased (3.1) percent quarter-over-quarter on the effects of weather. On a weather-adjusted basis, billed volume increased 1.8 percent; the components of the weather-adjusted sales growth were:

• Industrial sales increase of 6.2 percent,

• Governmental sales increase of 1.1 percent,

• Residential sales decrease of (0.6) percent, and

• Commercial sales decrease of (1.8) percent.

Industrial sales increased on continued growth for new and expansion customers as well as higher sales to existing customers. New and expansion customers across several sectors continued to ramp and come online. Within our existing industrial customers, usage within the petroleum refining sector continued to be robust and comprised the majority of that increase.

For a schedule of Utility, Parent & Other Adjusted EPS excluding special items and weather and normalizing tax items, see Appendix C. Appendix C also contains additional details on the Utility’s performance.

Entergy Wholesale Commodities Results

EWC operational adjusted earnings before interest, taxes, depreciation and amortization were $219 million in first quarter 2016, compared to $254 million in the same period a year ago. The quarter-over-quarter decrease was driven largely by lower energy and capacity prices for EWC’s nuclear assets. Quarter-over-quarter results were also affected by 2015 impairments, which reduced fuel and non-fuel O&M expenses in the current quarter.

EWC Operational Adjusted EBITDA - Reconciliation of GAAP to Non-GAAP Measures
First Quarter 2016 vs. 2015
($ in millions)	First Quarter
	2016	2015	Change
Net income	80	123	(43)
Add back: interest expense	6	6	—
Add back: income tax expense	52	70	(18)
Add back: depreciation and amortization	56	62	(6)
Subtract: interest and investment income	27	50	(23)
Add back: decommissioning expense	31	35	(4)
Adjusted EBITDA	199	247	(48)
Add back pre-tax special items for:
Decisions to close VY, FitzPatrick and Pilgrim	20	7	13
Operational adjusted EBITDA	219	254	(35)

Totals may not foot due to rounding

EWC earned 44 cents per share on an as-reported basis and 51 cents per share on an operational basis for first quarter 2016, compared to first quarter 2015 as-reported earnings of 68 cents per share and operational earnings of 71 cents per share. The decline was driven by lower operational adjusted EBITDA. Interest and investment income was also lower quarter-over-quarter due to higher realized earnings on decommissioning trusts in 2015 from re-balancing activity.

For additional details on EWC’s performance, see Appendix D and the webcast slide presentation.

Earnings Guidance

Entergy affirmed its 2016 operational earnings guidance in the range of $4.95 to $5.75 per share and Utility, Parent & Other Adjusted EPS guidance range of $4.20 to $4.50. See the webcast slide presentation for additional details.

Earnings Teleconference

A teleconference will be held at 10 a.m. CT on Tuesday, April 26, 2016, to discuss Entergy’s first quarter earnings announcement and the company’s financial performance. The teleconference may be accessed by visiting Entergy’s website at www.entergy.com or by dialing (855) 893-9849, conference ID 85413992, no more than 15 minutes prior to the start of the call. The webcast slide presentation is also posted to Entergy’s website concurrent with this release, which was issued before market open on the day of the call. A replay of the teleconference will be available on Entergy’s website at www.entergy.com and by telephone. The telephone replay will be available through May 3, 2016, by dialing (855) 859-2056, conference ID 85413992. This release and the webcast slide presentation are also available on the Entergy Investor Relations mobile web app at iretr.com.

Entergy Corporation 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.

Entergy Corporation’s common stock is listed on the New York and Chicago exchanges under the symbol “ETR.”

Additional information regarding Entergy’s results of operations, regulatory proceedings and other matters is available in Entergy’s earnings release, a copy of which will be filed with the U.S. Securities and Exchange Commission, and the webcast slide presentation. Both the earnings release and webcast slide presentation are available on Entergy’s Investor Relations website at www.entergy.com/investor_relations and on Entergy’s Investor Relations mobile web app at iretr.com.

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Cautionary Note Regarding Forward-Looking Statements

In this news release, and from time to time, Entergy Corporation makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, Entergy’s 2016 earnings guidance, its current financial and operational outlook, and other statements of Entergy’s plans, beliefs or expectations included in this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning FitzPatrick, Pilgrim or VY or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions

and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with strategic transactions that Entergy or its subsidiaries may undertake, including the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized and (h) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements.

For definitions of certain operational performance measures, as well as GAAP and non-GAAP financial measures and abbreviations and acronyms used in the quarterly materials, see Appendix F and Appendix G.

First Quarter 2016 Earnings Release Appendices and Financial Statements

Appendices

Seven appendices are presented in this section as follows:

• Appendix A: Consolidated Results and Special Items

• Appendix B: Variance Analysis

• Appendix C: Utility Financial and Performance Measures

• Appendix D: EWC Performance Measures

• Appendix E: Consolidated Financial Performance Measures

• Appendix F: Definitions, Abbreviations and Acronyms

• Appendix G: GAAP to Non-GAAP Reconciliations

Also included in this earnings release are:

• Financial Statements

Accompanying this earnings release is a webcast slide presentation, which is available on Entergy’s Investor Relations website at www.entergy.com/investor_relations and on Entergy’s Investor Relations mobile web app at iretr.com.

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A: Consolidated Results and Special Items

Appendix A-1 provides a comparative summary of consolidated EPS for first quarter 2016 versus 2015, including a reconciliation of GAAP as-reported earnings to non-GAAP operational earnings.

Appendix A-1: Consolidated Earnings - Reconciliation of GAAP to Non-GAAP Measures First Quarter 2016 vs. 2015 (See Appendix A-3 and Appendix A-4 for details on special items)
(Per share in $)
	First Quarter
	2016	2015	Change
As-Reported
Utility	1.09	1.24	(0.15)
Parent & Other	(0.25)	(0.27)	0.02
EWC	0.44	0.68	(0.24)
Consolidated As-Reported Earnings	1.28	1.65	(0.37)
Less Special Items
Utility	—	—	—
Parent & Other	—	—	—
EWC	(0.07)	(0.03)	(0.04)
Consolidated Special Items	(0.07)	(0.03)	(0.04)
Operational
Utility	1.09	1.24	(0.15)
Parent & Other	(0.25)	(0.27)	0.02
EWC	0.51	0.71	(0.20)
Consolidated Operational Earnings	1.35	1.68	(0.33)
Weather Impact	(0.14)	0.08	(0.22)

Detailed earnings variance analysis is included in Appendix B.

Appendix A-2 provides the components of OCF contributed by each business.

Appendix A-2: Consolidated Operating Cash Flow
First Quarter 2016 vs. 2015
($ in millions)
	First Quarter
	2016	2015	Change
Utility	459	454	5
Parent & Other	(62)	(51)	(11)
EWC	136	208	(72)
Total Operating Cash Flow	533	611	(78)

Totals may not foot due to rounding

The primary driver of the $78 million quarter-over-quarter decrease was lower EWC net revenue.

Appendix A-3 and Appendix A-4 list special items by business. Amounts are shown on both an EPS basis and a net income basis. Special items are those events that are not routine. Special items are included in as-reported EPS consistent with GAAP, but are excluded from operational EPS. As a result, operational EPS is considered a non-GAAP measure.

Appendix A-3: Special Items by Driver (shown as positive/(negative) impact on EPS)
First Quarter 2016 vs. 2015
(After-tax, per share in $)
	First Quarter
	2016	2015	Change
EWC
Decisions to close VY, FitzPatrick and Pilgrim	(0.07)	(0.03)	(0.04)
Total EWC	(0.07)	(0.03)	(0.04)
Total Special Items	(0.07)	(0.03)	(0.04)

Appendix A-4: Special Items by Income Statement Line Item (shown as positive/(negative) impact on earnings)
First Quarter 2016 vs. 2015
(Pre-tax except for Income taxes - other, $ in millions)
	First Quarter
	2016	2015	Change
EWC
Non-fuel O&M	(11.5)	(7.5)	(4.0)
Taxes other than income taxes	(1.0)	0.3	(1.3)
Asset write-off and impairments	(7.4)	—	(7.4)
Income taxes - other	7.0	2.5	4.5
Total EWC	(12.9)	(4.6)	(8.3)
Total Special Items	(12.9)	(4.6)	(8.3)

Totals may not foot due to rounding

B: Variance Analysis

Appendix B provides details of current quarter 2016 versus 2015 as-reported and operational earnings variance analysis for Utility, Parent & Other, EWC and Consolidated.

Appendix B: As-Reported and Operational EPS Variance Analysis
First Quarter 2016 vs. 2015
(After-tax, per share in $, sorted in consolidated operational column, most to least favorable)
	Utility			Parent & Other		EWC			Consolidated
	As-Reported	Opera-tional		As-Reported	Opera-tional	As- Reported	Opera-tional		As- Reported	Opera-tional
2015 earnings	1.24	1.24		(0.27)	(0.27)	0.68	0.71		1.65	1.68
Non-fuel O&M	0.13	0.13	(a)	(0.01)	(0.01)	0.06	0.07	(b)	0.18	0.19
Taxes other than income taxes	0.02	0.02		—	—	0.01	0.01		0.03	0.03
Share effect	0.01	0.01		—	—	—	—		0.01	0.01
Decommissioning expense	(0.01)	(0.01)		—	—	0.01	0.01		—	—
Asset write-offs and impairments	—	—		—	—	(0.03)	—		(0.03)	—
Interest expense and other charges	—	—		(0.01)	(0.01)	—	—		(0.01)	(0.01)
Depreciation/amortization expense	(0.03)	(0.03)		—	—	0.02	0.02		(0.01)	(0.01)
Other income (deductions)-other	(0.03)	(0.03)		—	—	(0.07)	(0.07)	(c)	(0.10)	(0.10)
Income taxes - other	(0.12)	(0.12)	(d)	0.04	0.04	(0.03)	(0.03)		(0.11)	(0.11)
Net revenue	(0.12)	(0.12)	(e)	—	—	(0.21)	(0.21)	(f)	(0.33)	(0.33)
2016 earnings	1.09	1.09		(0.25)	(0.25)	0.44	0.51		1.28	1.35

See appendix in the webcast slide presentation for additional details on EWC line item variances.

(a) The quarter-over-quarter increase is attributable to several drivers. Fossil spending was lower quarter-over-quarter due largely to lower scope of work for outage activity. Pension and OPEB expenses were also lower stemming partly from a higher discount rate. Additionally, EAI recorded a deferral of $17.6 million for costs previously expensed related to post-Fukushima and flood barrier compliance. These items were partially offset by higher nuclear generation spending primarily due to an increase in regulatory compliance costs at ANO and an increase in nuclear labor costs, including contract labor.

(b) The increase in the current quarter was due largely to lower refueling outage expense resulting from impairments recorded in the 2015. Pension and OPEB expenses were also lower, but largely offset by other benefit cost variances.

(c) The decrease quarter-over-quarter was largely due to realized earnings from decommissioning trusts in the first quarter 2015 from rebalancing of VY’s decommissioning trust.

(d) The quarter-over-quarter decrease was attributable to a first quarter 2015 reversal of a portion of the provision for uncertain tax provisions related to interest accrual of approximately $24 million.

Utility As-Reported Net Revenue Variance Analysis 2016 vs. 2015 ($ EPS)
	First Quarter
Weather	(0.22)
Sales growth/pricing	0.14
Other	(0.04)
Total	(0.12)

(e) The quarterly decrease was driven by weather. The effects of weather were unfavorable in the current quarter and favorable a year ago. The current quarter results also include a $(0.03) per share charge to reflect the estimated impact for recent FERC orders on opportunity sales cases (incremental interest expense was recorded, as well). Excluding these items, net revenue increased due primarily to the EAI rate case, which was effective Feb. 24, 2016 and industrial sales growth.

(f) The decrease in the current quarter was driven by lower energy pricing for nuclear assets; capacity pricing was also somewhat lower. The sale of RISEC facility in December 2015 also contributed to the decline. These decreases were partially offset by lower nuclear fuel expense (largely resulting from 2015 impairments) and slightly higher nuclear generation with fewer unplanned outage days.

C: Utility Financial and Performance Measures

Appendix C-1 provides a comparative summary of Utility, Parent & Other Adjusted EPS, excluding the effects of special items and weather and normalizing tax items.

Appendix C-1: Utility, Parent & Other Adjusted EPS - Reconciliation of GAAP to Non-GAAP Measures
First Quarter 2016 vs. 2015 (See Appendix A for details on special items)
(per share in $)	First Quarter
	2016	2015	Change
As-Reported Earnings	0.84	0.97	(0.13)
Less:
Special Items	—	—	—
Weather	(0.14)	0.08	(0.22)
Tax Items	0.03	0.13	(0.10)
Adjusted Earnings	0.95	0.76	0.19

Adjusted U/P&O includes a $(0.05) per share charge for the FERC’s recent opportunity sales decision and a $0.06 cost deferral from EAI’s

2015 rate case decision

Appendix C-2 provides a comparative summary of Utility operational performance measures.

Appendix C-2: Utility Operational Performance Measures
First Quarter 2016 vs. 2015 (See Appendix G for reconciliation of GAAP to non-GAAP measures)
	First Quarter
	2016	2015	% Change	% Weather Adjusted
GWh billed
Residential	8,137	9,433	(13.7)	(0.6)
Commercial	6,511	6,721	(3.1)	(1.8)
Governmental	600	592	1.4	1.1
Industrial	11,055	10,406	6.2	6.2
Total Retail Sales	26,303	27,152	(3.1)	1.8
Wholesale	3,140	1,811	73.4
Total Sales	29,443	28,963	1.7
Number of electric retail customers
Residential	2,443,022	2,419,228	1.0
Commercial	350,136	345,616	1.3
Governmental	17,686	17,383	1.7
Industrial	40,823	41,047	(0.5)
Total Retail Customers	2,851,667	2,823,274	1.0
Net Revenue ($ millions)	1,375	1,410	(2.5)
As-reported non-fuel O&M per MWh	18.56	20.17	(8.0)
Operational non-fuel O&M per MWh	18.56	20.17	(8.0)

See appendix in the webcast slide presentation for information on select regulatory cases.

D: EWC Performance Measures

Appendix D-1 provides a comparative summary of EWC operational performance measures.

Appendix D-1: EWC Operational Performance Measures
First Quarter 2016 vs. 2015 (See Appendix G for reconciliation of GAAP to non-GAAP measures)
	First Quarter
	2016	2015	% Change
Owned capacity (MW) (g)	4,880	5,463	(10.7%)
GWh billed	9,246	9,592	(3.6%)
As-reported average total revenue per MWh	$56.47	$67.00	(15.7%)
Adjusted average total revenue per MWh	$56.10	$66.60	(15.8%)
Net revenue ($ millions)	466	527	(11.6%)
As-reported non-fuel O&M per MWh	25.14	25.89	(2.9%)
Operational non-fuel O&M per MWh	23.90	25.11	(4.8%)
EWC Nuclear Fleet
Capacity factor	90%	90%	—
GWh billed	8,688	8,618	0.8%
As-reported average total revenue per MWh	$57.43	$65.78	(12.7%)
Adjusted average total revenue per MWh	$57.04	$65.34	(12.7%)
Production cost per MWh	$21.91	$25.61	(14.4%)
Net revenue ($ millions)	464	511	(9.2%)
Refueling outage days
Indian Point 2	25
Indian Point 3		23

(g)First quarter 2016 excludes RISEC (583 MW) that was sold in December 2015.

See appendix in the webcast slide presentation for EWC hedging and price disclosures.

E: Consolidated Financial Performance Measures

Appendix E provides comparative financial performance measures for the current quarter. Financial performance measures in this table include those calculated and presented in accordance with GAAP, as well as those that are considered non-GAAP measures.

As-reported measures are computed in accordance with GAAP as they include all components of net income, including special items. Operational measures are non-GAAP measures as they are calculated using operational net income, which excludes the impact of special items.

Appendix E: GAAP and Non-GAAP Financial Performance Measures
First Quarter 2016 vs. 2015 (See Appendix G for reconciliation of GAAP to non-GAAP measures)
For 12 months ending March 31	2016	2015	Change
GAAP Measures
ROIC - as-reported	0.7%	5.1%	(4.4%)
ROE - as-reported	(2.5%)	8.3%	(10.8%)
Book value per share	$52.38	$56.45	($4.07)
End of period shares outstanding (millions)	178.7	179.5	(0.8)
Non-GAAP Measures
ROIC - operational	5.8%	5.6%	0.2%
ROE - operational	10.4%	9.4%	1.0%
As of March 31 ($ in millions)
GAAP Measures
Cash and cash equivalents	1,092	1,181	(89)
Revolver capacity	3,794	3,779	15
Commercial paper outstanding	578	762	(184)
Total debt	15,092	14,044	1,048
Securitization debt	752	762	(10)
Debt to capital ratio	60.9%	57.4%	3.5%
Off-balance sheet liabilities:
Debt of joint ventures - Entergy’s share	77	81	(4)
Leases - Entergy’s share	359	422	(63)
Power purchase agreements accounted for as leases	195	224	(29)
Total off-balance sheet liabilities	631	727	(96)
Non-GAAP Measures
Debt to capital ratio, excluding securitization debt	59.7%	56.0%	3.7%
Gross liquidity	4,886	4,960	(74)
Net debt to net capital ratio, excluding securitization debt	57.8%	53.7%	4.1%
Parent debt to total debt ratio, excluding securitization debt	19.5%	20.9%	(1.4%)
Debt to operational adjusted EBITDA, excluding securitization debt	4.6	3.9	0.7
Operational FFO to debt ratio, excluding securitization debt	21.0%	28.2%	(7.2%)

F: Definitions, Abbreviations and Acronyms

Appendix F-1 provides definitions of certain operational performance measures, as well as GAAP and non-GAAP financial measures. Non-GAAP measures provide metrics that remove the effect of financial events that are not routine from commonly used financial metrics.

Appendix F-1: Definitions
Utility Operational Performance Measures
GWh billed	Total number of GWh billed to all retail and wholesale customers
Net revenue	Operating revenue less fuel, fuel related expenses and gas purchased for resale, purchased power and other regulatory charges (credits) - net
Non-fuel O&M	Operation and maintenance expenses excluding fuel, fuel-related expenses and gas purchased for resale and purchased power
Non-fuel O&M per MWh	Non-fuel O&M per MWh of billed sales
Number of retail customers	Number of customers at end of period
EWC Operational Performance Measures
As-reported average total revenue per MWh	As-reported revenue per MWh billed, excluding revenue from investments in wind generation accounted for under the equity method of accounting
Adjusted average total revenue per MWh	As-reported average total revenue per MWh, excluding revenue from the amortization of the Palisades below-market PPA
Average revenue under contract per kW-month (applies to capacity contracts only)	Revenue on a per unit basis at which capacity is expected to be sold to third parties, given existing contract prices and/or auction awards
Average revenue per MWh on contracted volumes	Revenue on a per unit basis at which generation output reflected in contracts is expected to be sold to third parties (including offsetting positions) at the minimum contract prices and at forward market prices at a point in time, given existing contract or option exercise prices based on expected dispatch or capacity, excluding the revenue associated with the amortization of the below-market PPA for Palisades; revenue will fluctuate due to factors including market price changes affecting revenue received on puts, collars and call options, positive or negative basis differentials, option premiums and market prices at the time of option expiration, costs to convert firm LD to unit-contingent and other risk management costs
Bundled capacity and energy contracts	A contract for the sale of installed capacity and related energy, priced per MWh sold
Capacity contracts	A contract for the sale of the installed capacity product in regional markets managed by ISO-NE, the NYISO and MISO
Capacity factor	Normalized percentage of the period that the nuclear plants generate power
Expected sold and market total revenue per MWh	Total energy and capacity revenue on a per unit basis at which total planned generation output and capacity is expected to be sold given contract terms and market prices at a point in time, including estimates for market price changes affecting revenue received on puts, collars and call options, positive or negative basis differentials, option premiums and market prices at time of option expiration, costs to convert Firm LD to unit-contingent and other risk management costs, divided by total planned MWh of generation, excluding the revenue associated with the amortization of the Palisades below-market PPA
Firm LD	Transaction that requires receipt or delivery of energy at a specified delivery point (usually at a market hub not associated with a specific asset) or settles financially on notional quantities; if a party fails to deliver or receive energy, defaulting party must compensate the other party as specified in the contract; a portion of which may be capped through the use of risk management products
GWh billed	Total number of GWh billed to customers, excluding investments in wind generation accounted for under the equity method of accounting and financially-settled instruments

Appendix F-1: Definitions
EWC Operational Performance Measures (continued)
Net revenue		Operating revenue less fuel, fuel related expenses and purchased power
Non-fuel O&M		Operation and maintenance expenses excluding fuel, fuel-related expenses and gas purchased for resale, purchased power and investments in wind generation accounted for under the equity method of accounting
Non-fuel O&M per MWh		Non-fuel O&M per MWh billed
Offsetting positions		Transactions for the purchase of energy, generally to offset a Firm LD transaction
Owned capacity (MW)		Installed capacity owned and operated by EWC, including investments in wind generation accounted for under the equity method of accounting; RISEC (non-nuclear) was sold on Dec. 17, 2015
Percent of capacity sold forward		Percent of planned qualified capacity sold to mitigate price uncertainty under physical or financial transactions
Percent of planned generation under contract		Percent of planned generation output sold or purchased forward under contracts, forward physical contracts, forward financial contracts or options that mitigate price uncertainty that may or may not require regulatory approval or approval of transmission rights or other conditions precedent; positions that are no longer classified as hedges are netted in the planned generation under contract
Planned net MW in operation		Amount of installed capacity to generate power and/or sell capacity, assuming intent to shutdown Pilgrim on May 31, 2019 and FitzPatrick on Jan. 27, 2017
Planned TWh of generation		Amount of output expected to be generated by EWC resources considering plant operating characteristics and outage schedules, assuming intent to shutdown Pilgrim on May 31, 2019 and FitzPatrick on Jan. 27, 2017, uninterrupted normal plant operation and timely renewal of plant operating licenses at IPEC
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
Refueling outage days		Number of days lost for scheduled refueling outage during the period
Unit-contingent		Transaction under which power is supplied from a specific generation asset; if the asset is on operational outage, seller is generally not liable to buyer for any damages, unless the contract specifies certain conditions such as an availability guarantee
Financial Measures - GAAP
Book value per share	End of period common equity divided by end of period shares outstanding
Debt of joint ventures - Entergy’s share	Entergy’s share of debt issued by business joint ventures at EWC
Debt to capital ratio	Total debt divided by total capitalization
Leases - Entergy’s share	Operating leases held by subsidiaries capitalized at implicit interest rate
Revolver capacity	Amount of undrawn capacity remaining on corporate and subsidiary revolvers, including Entergy Nuclear Vermont Yankee
ROIC - 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
ROE - as-reported	12-months rolling Net Income divided by average common equity
Securitization debt	Debt associated with securitization bonds issued to recover storm costs from hurricanes Rita, Ike and Gustav at ETI and Hurricane Isaac at ENOI; the 2009 ice storm at EAI and investment recovery of costs associated with the cancelled Little Gypsy repowering project at ELL
Total debt	Sum of short-term and long-term debt, notes payable and commercial paper and capital leases on the balance sheet

Appendix F-1: Definitions
Financial Measures - Non-GAAP
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; for Entergy consolidated, also excludes AFUDC-equity funds and subtracts securitization proceeds
Adjusted EPS	As-reported earnings per share excluding special items and weather and normalizing for income tax
Debt to capital ratio, excluding securitization debt	Total debt divided by total capitalization, excluding securitization debt
Debt to EBITDA	End of period total debt excluding securitization debt divided by 12-months rolling operational adjusted EBITDA
FFO	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
FFO to debt	12-months rolling operational FFO as a percentage of end of period total debt excluding securitization debt
Gross liquidity	Sum of cash and revolver capacity
Operational adjusted EBITDA	Adjusted EBITDA excluding effects of special items
Operational earnings	As-reported Net Income adjusted to exclude the impact of special items
Operational FFO	FFO excluding effects of special items
Parent debt to total 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
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
ROIC - operational	12-months rolling operational Net Income adjusted for preferred dividends and tax-effected interest expense divided by average invested capital
ROE - operational	12-months rolling operational Net Income divided by average common equity

Appendix F-2 explains abbreviations and acronyms used in the quarterly earnings materials.

Appendix F-2: Abbreviations and Acronyms
AFUDC-   borrowed funds	Allowance for borrowed funds used during   construction	MISO	Midcontinent Independent System Operator, Inc.
		MPSC	Mississippi Public Service Commission
AFUDC-   equity funds	Allowance for equity funds used during   construction	MTEP	MISO Transmission Expansion Planning
		NEPOOL	New England Power Pool
ADIT	Accumulated deferred income taxes	Ninemile 6	Ninemile Point Unit 6
ANO	Arkansas Nuclear One (nuclear)	NOAA	National Oceanic and Atmosphere Administration
APSC	Arkansas Public Service Commission	Non-fuel O&M	Non-fuel operation and maintenance expense
BP	Basis point	NRC	Nuclear Regulatory Commission
CCGT	Combined cycle gas turbine	NYISO	New York Independent System Operator, Inc.
CCNO	Council of the City of New Orleans, Louisiana	NYPA	New York Power Authority
COD	Commercial operation date	NYS	New York State
Cooper	Cooper Nuclear Station	NYSDEC	New York State Department of Environmental    Conservation
CT	Simple cycle combustion turbine
CZM	Coastal zone management	NYSDOS	New York State Department of State
DCRF	Distribution cost recovery factor	NYSE	New York Stock Exchange
EAI	Entergy Arkansas, Inc.	O&M	Operation and maintenance expense
EBITDA	Earnings before interest, income taxes,   depreciation and amortization	OCF	Operating cash flow
		OPEB	Other post-employment benefits
EGSL	Entergy Gulf States Louisiana, L.L.C.	Palisades	Palisades Power Plant (nuclear)
ELL	Entergy Louisiana, LLC	Pilgrim	Pilgrim Nuclear Power Station (nuclear)
EMI	Entergy Mississippi, Inc.	PPA	Power purchase agreement or purchased power agreement
ENOI	Entergy New Orleans, Inc.
ESI	Entergy Services, Inc.	PUCT	Public Utility Commission of Texas
EPS	Earnings per share	RFO	Refueling outage
ETI	Entergy Texas, Inc.	RFP	Request for proposal
ETR	Entergy Corporation	RISEC	Rhode Island State Energy Center (CCGT)
EWC	Entergy Wholesale Commodities	ROE	Return on equity
FCA	Forward capacity auction	ROIC	Return on invested capital
FERC	Federal Energy Regulatory Commission	ROS	Rest of state
FFO	Funds from operations	RPCE	Rough production cost equalization
Firm LD	Firm liquidated damages	SEC	U.S. Securities and Exchange Commission
FitzPatrick	James A. FitzPatrick Nuclear Power Plant (nuclear)	SEMARI	Southeast Massachusetts/Rhode Island
FRP	Formula rate plan	SERI	System Energy Resources, Inc.
GAAP	Generally accepted accounting principles	SPDES	State Pollutant Discharge Elimination System
Grand Gulf	Unit No. 1 of Grand Gulf Nuclear Station (nuclear), 90% owned or leased by System Energy	SPP	Southwest Power Pool
		TCRF	Transmission cost recovery factor
HCM	Human Capital Management program	Top Deer	Top Deer Wind Ventures, LLC
Indian Point 2	Indian Point Energy Center Unit 2 (nuclear)	Union	Union Power Station
Indian Point 3	Indian Point Energy Center Unit 3 (nuclear)	UP&O	Utility, Parent & Other
IPEC	Indian Point Energy Center (nuclear)	VY	Vermont Yankee Nuclear Power Station (nuclear)
ISES	Independence Steam Electric Station (coal)	WACC	Weighted-average cost of capital
ISO	Independent system operator	WOTAB	West of the Atchafalaya Basin
ISO-NE	ISO New England	Waterford 3	Unit No. 3 (nuclear) of the Waterford Steam Electric Station, 100% owned or leased by Entergy Louisiana
LEUG	Louisiana Energy Users Group
LHV	Lower Hudson Valley	WQC	Water Quality Certification
LPSC	Louisiana Public Service Commission	YOY	Year-over-year
LTM	Last twelve months

G: GAAP to Non-GAAP Reconciliations

Appendix G-1, Appendix G-2 and Appendix G-3 provide reconciliations of various non-GAAP financial measures disclosed in this release to their most comparable GAAP measure.

Appendix G-1: Reconciliation of GAAP to Non-GAAP Financial Measures - Utility and EWC Non-fuel O&M per MWh, EWC and EWC Nuclear Average Total Revenue per MWh
($ in thousands except where noted)		First Quarter
		2016	2015
Utility
As-reported Utility non-fuel O&M	(A)	546,581	584,300
Operational Utility non-fuel O&M	(B)	546,581	584,300
Utility billed sales (GWh)	(C)	29,443	28,963
As-reported Utility non-fuel O&M per MWh	(A/C)	18.56	20.17
Operational Utility non-fuel O&M per MWh	(B/C)	18.56	20.17
EWC
As-reported EWC non-fuel O&M	(D)	232,463	248,326
Special Items included in non-fuel O&M:
Decisions to close VY, FitzPatrick and Pilgrim		11,521	7,489
Total special items included in non-fuel O&M	(E)	11,521	7,489
Operational EWC non-fuel O&M	(D-E)	220,942	240,837
EWC billed sales (GWh)	(F)	9,246	9,592
As-reported EWC non-fuel O&M per MWh	(D/F)	25.14	25.89
Operational EWC non-fuel O&M per MWh	[(D-E)/(F)]	23.90	25.11
As-reported EWC operating revenue	(G)	522,079	642,590
Less Palisades below-market PPA amortization	(H)	3,364	3,800
Adjusted EWC operating revenue	(G-H)	518,715	638,790
As-reported EWC nuclear operating revenue	(I)	498,901	566,908
Less Palisades below-market PPA amortization	(H)	3,364	3,800
Adjusted EWC nuclear operating revenue	(I-H)	495,537	563,109
As-reported EWC average total revenue per MWh	(G)/(F)	56.47	67.00
Adjusted EWC average total revenue per MWh	[(G-H)/(F)]	56.10	66.60
EWC nuclear billed sales (GWh)	(J)	8,688	8,618
As-reported EWC nuclear average total revenue per MWh	(I)/(J)	57.43	65.78
Adjusted EWC nuclear average total revenue per MWh	[(I-H)/(J)]	57.04	65.34

Totals may not foot due to rounding

Appendix G-2: Reconciliation of GAAP to Non-GAAP Financial Measures - ROE, ROIC Metrics
($ in millions)		First Quarter
		2016	2015
As-reported net income (loss) attributable to Entergy Corporation, rolling 12 months	(A)	(245)	838
Preferred dividends		20	20
Tax effected interest expense		398	389
As-reported net income attributable to Entergy Corporation, rolling 12 months adjusted for preferred dividends and tax effected interest expense	(B)	173	1,247
Special items in prior quarters		(1,248)	(101)
Decisions to close VY, FitzPatrick and Pilgrim		(13)	(5)
Total special items, rolling 12 months	(C)	(1,261)	(105)
Operational earnings, rolling 12 months adjusted for preferred dividends and tax effected interest expense	(B-C)	1,434	1,352
Operational earnings, rolling 12 months	(A-C)	1,016	943
Average invested capital	(D)	24,627	24,298
Average common equity	(E)	9,747	10,041
ROIC - as-reported %	(B/D)	0.7	5.1
ROIC - operational %	[(B-C)/D]	5.8	5.6
ROE - as-reported %	(A/E)	(2.5)	8.3
ROE - operational %	[(A-C)/E]	10.4	9.4

Totals may not foot due to rounding

Appendix G-3: Reconciliation of GAAP to Non-GAAP Financial Measures - Credit and Liquidity Metrics
($ in millions)		First Quarter
		2016	2015
Total debt	(A)	15,092	14,044
Less securitization debt	(B)	752	762
Total debt, excluding securitization debt	(C)	14,340	13,282
Less cash and cash equivalents	(D)	1,092	1,181
Net debt, excluding securitization debt	(E)	13,248	12,101
Total capitalization	(F)	24,771	24,483
Less securitization debt	(B)	752	762
Total capitalization, excluding securitization debt	(G)	24,019	23,721
Less cash and cash equivalents	(D)	1,092	1,181
Net capital, excluding securitization debt	(H)	22,927	22,540
Debt to capital ratio %	(A/F)	60.9	57.4
Debt to capital ratio, excluding securitization debt %	(C/G)	59.7	56.0
Net debt to net capital ratio, excluding securitization debt %	(E/H)	57.8	53.7
Revolver capacity	(I)	3,794	3,779
Gross liquidity	(D+I)	4,886	4,960
Entergy Corporation notes:
Due September 2015		—	550
Due January 2017		500	500
Due September 2020		450	450
Due July 2022		650	—
Total parent long-term debt	(J)	1,600	1,500
Revolver draw	(K)	616	508
Commercial paper	(L)	578	762
Total parent debt	(J)+(K)+(L)	2,794	2,770
Parent debt to total debt ratio, excluding securitization debt %	[((J)+(K)+(L))/(C)]	19.5	20.9

Appendix G-3: Reconciliation of GAAP to Non-GAAP Financial Measures - Credit and Liquidity Metrics (continued)
($ in millions)		First Quarter
		2016	2015
Total debt	(A)	15,092	14,044
Less securitization debt	(B)	752	762
Total debt, excluding securitization debt	(C)	14,340	13,282
As-reported consolidated net income (loss), rolling 12 months		(245)	857
Add back: interest expense, rolling 12 months		647	632
Add back: income tax expense, rolling 12 months		(653)	523
Add back: depreciation and amortization, rolling 12 months		1,340	1,322
Add back: regulatory charges (credits), rolling 12 months		166	(7)
Subtract: securitization proceeds, rolling 12 months		136	129
Subtract: interest and investment income, rolling 12 months		152	181
Subtract: AFUDC-equity funds, rolling 12 months		59	61
Add back: decommissioning expense, rolling 12 months		279	277
Adjusted EBITDA, rolling 12 months	(D)	1,187	3,233
Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)		—	11
Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)		1,670	152
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)	3,136	3,396
Debt to operational adjusted EBITDA, excluding securitization debt	(C)/(E)	4.6	3.9
Net cash flow provided by operating activities, rolling 12 months	(F)	3,213	3,733
AFUDC-borrowed funds used during construction, rolling 12 months	(G)	(30)	(33)
Working capital items in net cash flow provided by operating activities, rolling 12 months:
Receivables		92	72
Fuel inventory		1	(35)
Accounts payable		(49)	(200)
Prepaid taxes and taxes accrued		134	(51)
Interest accrued		4	7
Other working capital accounts		(118)	137
Securitization regulatory charge		106	97
Total	(H)	170	27
FFO, rolling 12 months	(F)+(G)-(H)	3,013	3,673
Add back: special item for HCM implementation expenses, rolling 12 months (pre-tax)		—	23
Add back: special item resulting from decisions to close VY, FitzPatrick and Pilgrim, rolling 12 months (pre-tax)		4	56
Operational FFO, rolling 12 months	(I)	3,017	3,752
Operational FFO to debt ratio, excluding securitization debt %	(I)/(C)	21.0	28.2

Totals may not foot due to rounding

Financial Statements

Entergy Corporation
Consolidating Balance Sheet
March 31, 2016
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities		Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents:
Cash	$77,329			$1,701			$2,594		$81,624
Temporary cash investments	585,296			23,819			400,912		1,010,027
Total cash and cash equivalents	662,625			25,520			403,506		1,091,651
Notes receivable	—			(517,594		)	517,594		—
Accounts receivable:
Customer	429,549			—			130,035		559,584
Allowance for doubtful accounts	(41,377		)	—			—		(41,377		)
Associated companies	16,405			(19,979		)	3,575		—
Other	162,565			277			7,929		170,771
Accrued unbilled revenues	304,446			—			—		304,446
Total accounts receivable	871,588			(19,702		)	141,539		993,424
Deferred fuel costs	28,296			—			—		28,296
Fuel inventory - at average cost	218,090			—			8,808		226,898
Materials and supplies - at average cost	629,503			—			244,175		873,679
Deferred nuclear refueling outage costs	144,225			—			101,398		245,623
Prepayments and other	355,672			(13,531		)	199,483		541,624
TOTAL	2,909,999			(525,307		)	1,616,503		4,001,195
OTHER PROPERTY AND INVESTMENTS
Investment in affiliates - at equity	1,390,786			(1,390,674		)	4,541		4,653
Decommissioning trust funds	2,570,438			—			2,881,291		5,451,729
Non-utility property - at cost (less accumulated depreciation)	214,662			(10		)	6,779		221,431
Other	489,369			—			863		490,232
TOTAL	4,665,255			(1,390,684		)	2,893,474		6,168,045
PROPERTY, PLANT, AND EQUIPMENT
Electric	43,147,245			3,582			3,427,990		46,578,818
Property under capital lease	610,590			—			—		610,590
Natural gas	396,687			—			—		396,687
Construction work in progress	1,271,936			420			154,316		1,426,671
Nuclear fuel	845,285			—			457,619		1,302,903
TOTAL PROPERTY, PLANT AND EQUIPMENT	46,271,743			4,002			4,039,925		50,315,669
Less - accumulated depreciation and amortization	20,146,692			198			1,186,771		21,333,661
PROPERTY, PLANT AND EQUIPMENT - NET	26,125,051			3,804			2,853,154		28,982,008
DEFERRED DEBITS AND OTHER ASSETS
Regulatory assets:
Regulatory asset for income taxes - net	776,370			—			—		776,370
Other regulatory assets	4,647,907			—			—		4,647,907
Deferred fuel costs	238,951			—			—		238,951
Goodwill	374,099			—			3,073		377,172
Accumulated deferred income taxes	11,903			42,080			67,717		121,700
Other	110,869			8,245			501,419		620,534
TOTAL	6,160,099			50,325			572,209		6,782,634
TOTAL ASSETS		$39,860,404			($1,861,862	)		$7,935,340		$45,933,882
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Balance Sheet
March 31, 2016
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities		Consolidated
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Currently maturing long-term debt		$291,006			$500,000			$5,726		$796,732
Notes payable and commercial paper:
Associated companies	—			(23,790		)	23,790		—
Other	188,462			577,618			—		766,079
Account payable:
Associated companies	9,892			(24,992		)	15,099		—
Other	672,339			1,259			214,751		888,349
Customer deposits	423,564			—			—		423,564
Taxes accrued	—			(61,464		)	255,545		194,081
Interest accrued	154,682			12,287			61		167,030
Deferred fuel costs	361,897			—			—		361,897
Obligations under capital leases	2,762			—			—		2,762
Pension and other postretirement liabilities	53,174			—			9,615		62,789
Other	148,763			2,260			25,042		176,065
TOTAL	2,306,541			983,178			549,629		3,839,348
NON-CURRENT LIABILITIES
Accumulated deferred income taxes and taxes accrued	7,660,291			269,607			537,859		8,467,757
Accumulated deferred investment tax credits	231,610			—			—		231,610
Obligations under capital leases	26,290			—			—		26,290
Other regulatory liabilities	1,433,632			—			—		1,433,632
Decommissioning and retirement cost liabilities	2,759,849			—			2,048,466		4,808,315
Accumulated provisions	454,281			—			2,417		456,698
Pension and other postretirement liabilities	2,348,313			—			749,723		3,098,036
Long-term debt	11,702,182			1,708,044			89,914		13,500,140
Other	678,077			(586,467		)	301,314		392,924
TOTAL	27,294,525			1,391,184			3,729,693		32,415,402
Subsidiaries' preferred stock without sinking fund	293,936			—			24,249		318,185
SHAREHOLDERS' EQUITY
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 254,752,788 shares in 2016	2,091,268			(2,289,823		)	201,103		2,548
Paid-in capital	2,796,506			1,083,262			1,504,994		5,384,762
Retained earnings	5,326,503			2,378,532			1,767,005		9,472,040
Accumulated other comprehensive income (loss)	(128,875		)	—			158,667		29,792
Less - treasury stock, at cost (76,031,187 shares in 2016)	120,000			5,408,195			—		5,528,195
TOTAL	9,965,402			(4,236,224		)	3,631,769		9,360,947
TOTAL LIABILITIES AND EQUITY		$39,860,404			($1,861,862	)		$7,935,340		$45,933,882
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Balance Sheet
December 31, 2015
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities		Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents:
Cash		$57,098			$682			$5,717		$63,497
Temporary cash investments	561,970			12,208			713,285		1,287,464
Total cash and cash equivalents	619,068			12,890			719,002		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			(34,177		)	3,230		—
Other	169,447			—			8,917		178,364
Accrued unbilled revenues	321,940			—			—		321,940
Total accounts receivable	923,309			(34,177		)	179,769		1,068,900
Deferred fuel costs	—			—			—		—
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			(8,576		)	212,352		344,872
TOTAL	2,662,459			(543,641		)	1,948,593		4,067,412
OTHER PROPERTY AND INVESTMENTS
Investment in affiliates - at equity	1,390,786			(1,390,673		)	4,228		4,341
Decommissioning trust funds	2,515,066			—			2,834,887		5,349,953
Non-utility property - at cost (less accumulated depreciation)	212,997			(10		)	7,012		219,999
Other	460,322			—			8,382		468,704
TOTAL	4,579,171			(1,390,683		)	2,854,509		6,042,997
PROPERTY, PLANT, AND EQUIPMENT
Electric	41,079,998			3,579			3,383,581		44,467,159
Property under capital lease	952,465			—			—		952,465
Natural gas	392,032			—			—		392,032
Construction work in progress	1,326,728			349			129,659		1,456,735
Nuclear fuel	856,573			—			488,850		1,345,422
TOTAL PROPERTY, PLANT AND EQUIPMENT	44,607,796			3,928			4,002,090		48,613,813
Less - accumulated depreciation and amortization	19,654,374			198			1,134,880		20,789,452
PROPERTY, PLANT AND EQUIPMENT - NET	24,953,422			3,730			2,867,210		27,824,361
DEFERRED DEBITS AND OTHER ASSETS
Regulatory assets:
Regulatory asset for income taxes - net	775,528			—			—		775,528
Other regulatory assets	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			1,206			37,809		54,903
Other	52,641			9,980			498,989		561,610
TOTAL	6,161,854			11,186			539,871		6,712,911
TOTAL ASSETS		$38,356,906			($1,919,408	)		$8,210,183		$44,647,681
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Balance Sheet
December 31, 2015
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities		Consolidated
LIABILITIES AND SHAREHOLDERS' 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
Account payable:
Associated companies	25,119			(50,553		)	25,433		—
Other	877,395			593			193,810		1,071,798
Customer deposits	419,407			—			—		419,407
Taxes accrued	159,650			(105,466		)	155,893		210,077
Interest accrued	163,391			31,161			13		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			1,936			31,937		184,181
TOTAL	2,368,529			(24,342		)	745,771		3,089,958
NON-CURRENT LIABILITIES
Accumulated deferred income taxes and taxes accrued	7,459,787			300,243			546,835		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 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	10,643,726			2,426,571			41,259		13,111,556
Other	736,685			(594,523		)	307,694		449,856
TOTAL	26,118,457			2,132,291			3,731,999		31,982,747
Subsidiaries' preferred stock without sinking fund	293,936			—			24,249		318,185
SHAREHOLDERS' EQUITY
Common stock, $.01 par value, authorized 500,000,000 shares;
issued 254,752,788 shares in 2015	2,091,268			(2,289,823		)	201,103		2,548
Paid-in capital	2,548,659			1,174,256			1,680,843		5,403,758
Retained earnings	5,185,328			2,520,589			1,687,996		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	9,575,984			(4,027,357		)	3,708,164		9,256,791
TOTAL LIABILITIES AND EQUITY		$38,356,906			($1,919,408	)		$8,210,183		$44,647,681
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Income Statement
Three Months Ended March 31, 2016
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities			Consolidated
OPERATING REVENUES
Electric		$2,042,180			($20	)		$—			$2,042,160
Natural gas	45,613			—			—			45,613
Competitive businesses	—			—			522,079			522,079
Total	2,087,793			(20		)	522,079			2,609,852
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale	460,969			(20		)	44,018			504,967
Purchased power	250,610			19			11,694			262,323
Nuclear refueling outage expenses	32,433			—			18,798			51,231
Other operation and maintenance	514,148			4,102			213,665			731,915
Asset write-offs, impairments and related charges	—			—			7,361			7,361
Decommissioning	37,243			—			31,385			68,628
Taxes other than income taxes	125,021			516			24,241			149,778
Depreciation and amortization	277,908			257			56,107			334,272
Other regulatory charges (credits) - net	1,159			—			—			1,159
Total	1,699,491			4,874			407,269			2,111,634
OPERATING INCOME	388,302			(4,894		)	114,810			498,218
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	18,932			—			—			18,932
Interest and investment income	44,530			(38,586		)	26,809			32,753
Miscellaneous - net	(5,981		)	(959		)	(3,646		)	(10,587		)
Total	57,481			(39,545		)	23,163			41,098
INTEREST EXPENSE
Interest expense	147,978			19,730			6,103			173,811
Allowance for borrowed funds used during construction	(9,682		)	—			—			(9,682		)
Total	138,296			19,730			6,103			164,129
INCOME BEFORE INCOME TAXES	307,487			(64,169		)	131,870			375,187
Income taxes	107,836			(20,204		)	52,314			139,945
CONSOLIDATED NET INCOME	199,651			(43,965		)	79,556			235,242
Preferred dividend requirements of subsidiaries	4,729			—			547			5,276
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION		$194,922			($43,965	)		$79,009			$229,966
EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$1.09			($0.25)			$0.45			$1.29
DILUTED	$1.09			($0.25)			$0.44			$1.28
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC										178,578,536
DILUTED										178,976,380
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Income Statement
Three Months Ended March 31, 2015
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities			Consolidated
OPERATING REVENUES
Electric		$2,217,999			($10	)		$—			$2,217,989
Natural gas	59,511			—			—			59,511
Competitive businesses	—			—			642,590			642,590
Total	2,277,510			(10		)	642,590			2,920,090
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale	529,308			(11		)	101,156			630,453
Purchased power	327,263			11			14,749			342,023
Nuclear refueling outage expenses	28,874			—			35,996			64,870
Other operation and maintenance	555,426			2,354			212,330			770,110
Asset write-offs, impairments and related charges	—			—			—			—
Decommissioning	34,861			—			35,038			69,899
Taxes other than income taxes	131,482			827			25,214			157,523
Depreciation and amortization	269,289			434			62,263			331,986
Other regulatory charges (credits) - net	10,457			—			—			10,457
Total	1,886,960			3,615			486,746			2,377,321
OPERATING INCOME	390,550			(3,625		)	155,844			542,769
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	11,738			—			—			11,738
Interest and investment income	55,017			(37,047		)	50,163			68,133
Miscellaneous - net	(974		)	(1,576		)	(6,470		)	(9,020		)
Total	65,781			(38,623		)	43,693			70,851
INTEREST EXPENSE
Interest expense	143,447			16,975			5,915			166,337
Allowance for borrowed funds used during construction	(6,117		)	—			—			(6,117		)
Total	137,330			16,975			5,915			160,220
INCOME BEFORE INCOME TAXES	319,001			(59,223		)	193,622			453,400
Income taxes	91,251			(10,970		)	70,190			150,471
CONSOLIDATED NET INCOME	227,750			(48,253		)	123,432			302,929
Preferred dividend requirements of subsidiaries	4,332			—			547			4,879
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION		$223,418			($48,253	)		$122,885			$298,050
EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$1.25			($0.27)			$0.68			$1.66
DILUTED	$1.24			($0.27)			$0.68			$1.65
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC										179,658,981
DILUTED										180,480,523
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Income Statement
Twelve Months Ended March 31, 2016
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities			Consolidated
OPERATING REVENUES
Electric		$9,132,921			($71	)		$—			$9,132,850
Natural gas	128,847			—			—			128,847
Competitive businesses	—			—			1,941,316			1,941,316
Total	9,261,768			(71		)	1,941,316			11,203,013
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale	2,068,783			(71		)	257,972			2,326,684
Purchased power	1,233,523			75			77,509			1,311,107
Nuclear refueling outage expenses	121,104			—			116,574			237,678
Other operation and maintenance	2,401,795			14,281			900,707			3,316,783
Asset write-offs, impairments and related charges	68,672			—			2,043,595			2,112,267
Decommissioning	145,126			—			133,875			279,001
Taxes other than income taxes	501,278			839			109,560			611,677
Depreciation and amortization	1,104,707			1,979			232,876			1,339,562
Other regulatory charges (credits) - net	166,006			—			—			166,006
Total	7,810,994			17,103			3,872,668			11,700,765
Gain on sale of asset	—			—			154,037			154,037
OPERATING INCOME (LOSS)	1,450,774			(17,174		)	(1,777,315		)	(343,715		)
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	59,101			—			—			59,101
Interest and investment income	181,059			(154,677		)	125,300			151,682
Miscellaneous - net	(27,071		)	(11,734		)	(58,758		)	(97,563		)
Total	213,089			(166,411		)	66,542			113,220
INTEREST EXPENSE
Interest expense	574,291			76,304			26,975			677,570
Allowance for borrowed funds used during construction	(30,192		)	—			—			(30,192		)
Total	544,099			76,304			26,975			647,378
INCOME (LOSS) BEFORE INCOME TAXES	1,119,764			(259,889		)	(1,737,748		)	(877,873		)
Income taxes	33,347			(58,584		)	(628,216		)	(653,453		)
CONSOLIDATED NET INCOME (LOSS)	1,086,417			(201,305		)	(1,109,532		)	(224,420		)
Preferred dividend requirements of subsidiaries	18,038			—			2,188			20,226
NET INCOME (LOSS) ATTRIBUTABLE TO ENTERGY CORPORATION		$1,068,379			($201,305	)		($1,111,720	)		($244,646	)
EARNINGS (LOSS) PER AVERAGE COMMON SHARE:
BASIC	$5.97			($1.12)			($6.21)			($1.36)
DILUTED	$5.95			($1.12)			($6.19)			($1.36)
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC										178,909,039
DILUTED										179,520,075
*Totals may not foot due to rounding.

Entergy Corporation
Consolidating Income Statement
Twelve Months Ended March 31, 2015
(Dollars in thousands)
(Unaudited)
	Utility			Parent & Other			Entergy Wholesale Commodities			Consolidated
OPERATING REVENUES
Electric		$9,583,543			($116	)		$—			$9,583,427
Natural gas	163,086			—			—			163,086
Competitive businesses	—			9,782			2,449,873			2,459,655
Total	9,746,629			9,666			2,449,873			12,206,168
OPERATING EXPENSES
Operating and Maintenance:
Fuel, fuel related expenses, and gas purchased for resale	2,333,259			(157		)	386,080			2,719,182
Purchased power	1,612,870			8,920			61,019			1,682,809
Nuclear refueling outage expenses	118,222			—			154,783			273,005
Other operation and maintenance	2,334,451			7,776			1,002,709			3,344,936
Asset write-offs, impairments and related charges	72,225			—			105,257			177,482
Decommissioning	134,227			—			142,494			276,721
Taxes other than income taxes	482,928			1,631			123,102			607,661
Depreciation and amortization	1,050,746			3,115			268,039			1,321,900
Other regulatory charges (credits) - net	(7,309		)	—			—			(7,309		)
Total	8,131,619			21,285			2,243,483			10,396,387
OPERATING INCOME	1,615,010			(11,619		)	206,390			1,809,781
OTHER INCOME (DEDUCTIONS)
Allowance for equity funds used during construction	61,411			—			—			61,411
Interest and investment income	185,914			(143,106		)	137,763			180,571
Miscellaneous - net	(7,606		)	(8,876		)	(22,850		)	(39,332		)
Total	239,719			(151,982		)	114,913			202,650
INTEREST EXPENSE
Interest expense	570,262			77,109			17,499			664,870
Allowance for borrowed funds used during construction	(32,673		)	—			—			(32,673		)
Total	537,589			77,109			17,499			632,197
INCOME BEFORE INCOME TAXES	1,317,140			(240,710		)	303,804			1,380,234
Income taxes	448,335			(53,542		)	128,310			523,103
CONSOLIDATED NET INCOME	868,805			(187,168		)	175,494			857,131
Preferred dividend requirements of subsidiaries	17,347			—			2,188			19,535
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION		$851,458			($187,168	)		$173,306			$837,596
EARNINGS PER AVERAGE COMMON SHARE:
BASIC	$4.74			($1.04)			$0.96			$4.66
DILUTED	$4.72			($1.04)			$0.96			$4.64
AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
BASIC										179,718,490
DILUTED										180,514,700
*Totals may not foot due to rounding.

Entergy Corporation
Consolidated Cash Flow Statement
Three Months Ended March 31, 2016 vs. 2015
(Dollars in thousands)
(Unaudited)
	2016			2015			Variance
OPERATING ACTIVITIES
Consolidated net income		$235,242			$302,929			($67,687	)
Adjustments to reconcile consolidated net income to net cash
flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization	500,248			526,008			(25,760		)
Deferred income taxes, investment tax credits, and non-current taxes accrued	75,415			95,732			(20,317		)
Asset write-offs, impairments and related charges	7,361			—			7,361
Changes in working capital:
Receivables	76,532			22,288			54,244
Fuel inventory	(9,089		)	(22,553		)	13,464
Accounts payable	(67,364		)	(153,700		)	86,336
Prepaid taxes and taxes accrued	(15,996		)	(67,941		)	51,945
Interest accrued	(27,535		)	(42,551		)	15,016
Deferred fuel costs	97,566			81,271			16,295
Other working capital accounts	(95,291		)	(90,619		)	(4,672		)
Changes in provisions for estimated losses	(3,968		)	1,334			(5,302		)
Changes in other regulatory assets	56,047			93,082			(37,035		)
Changes in other regulatory liabilities	18,735			15,857			2,878
Changes in pensions and other postretirement liabilities	(89,046		)	(52,509		)	(36,537		)
Other	(226,036		)	(97,670		)	(128,366		)
Net cash flow provided by operating activities	532,821			610,958			(78,137		)
INVESTING ACTIVITIES
Construction/capital expenditures	(636,011		)	(532,958		)	(103,053		)
Allowance for equity funds used during construction	19,107			13,077			6,030
Nuclear fuel purchases	(85,819		)	(96,392		)	10,573
Payment for purchase of plant	(947,778		)	—			(947,778		)
Insurance proceeds received for property damages	—			12,745			(12,745		)
Changes in securitization account	(1,399		)	(251		)	(1,148		)
NYPA value sharing payment	—			(70,790		)	70,790
Payments to storm reserve escrow account	(367		)	(1,865		)	1,498
Decrease (increase) in other investments	(196,509		)	278			(196,787		)
Proceeds from nuclear decommissioning trust fund sales	729,414			492,841			236,573
Investment in nuclear decommissioning trust funds	(758,665		)	(516,564		)	(242,101		)
Net cash flow used in investing activities	(1,878,027		)	(699,879		)	(1,178,148		)
FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt	2,869,808			488,065			2,381,743
Treasury stock	5,787			23,156			(17,369		)
Retirement of long-term debt	(1,903,670		)	(685,258		)	(1,218,412		)
Repurchase of common stock	—			(25,078		)	25,078
Changes in credit borrowings and commercial paper - net	271,730			210,012			61,718
Other	(644		)	(9,320		)	8,676
Dividends paid:
Common stock	(151,839		)	(149,257		)	(2,582		)
Preferred stock	(5,276		)	(4,879		)	(397		)
Net cash flow provided by (used in) financing activities	1,085,896			(152,559		)	1,238,455
Net decrease in cash and cash equivalents	(259,310		)	(241,480		)	(17,830		)
Cash and cash equivalents at beginning of period	1,350,961			1,422,026			(71,065		)
Cash and cash equivalents at end of period		$1,091,651			$1,180,546			($88,895	)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest - net of amount capitalized	$251,305			$203,786			$47,519
Income taxes	$26,382			$65,919			($39,537)

Entergy Corporation
Consolidated Cash Flow Statement
Twelve Months Ended March 31, 2016 vs. 2015
(Dollars in thousands)
(Unaudited)
	2016			2015			Variance
OPERATING ACTIVITIES
Consolidated net income (loss)	$	(224,420	)	$	857,131		$	(1,081,551	)
Adjustments to reconcile consolidated net income (loss) to net cash
flow provided by operating activities:
Depreciation, amortization, and decommissioning, including nuclear fuel amortization	2,091,476			2,137,458			(45,982		)
Deferred income taxes, investment tax credits, and non-current taxes accrued	(840,667		)	458,565			(1,299,232		)
Asset write-offs, impairments and related charges	2,112,267			177,482			1,934,785
Gain on sale of asset	(154,037		)	—			(154,037		)
Changes in working capital:
Receivables	92,396			71,674			20,722
Fuel inventory	1,088			(34,969		)	36,057
Accounts payable	(48,875		)	(199,566		)	150,691
Prepaid taxes and taxes accrued	133,914			(51,097		)	185,011
Interest accrued	3,571			7,264			(3,693		)
Deferred fuel costs	315,020			171,769			143,251
Other working capital accounts	(118,373		)	136,831			(255,204		)
Changes in provisions for estimated losses	37,264			299,886			(262,622		)
Changes in other regulatory assets	225,282			(1,043,307		)	1,268,589
Changes in other regulatory liabilities	64,119			83,877			(19,758		)
Changes in pensions and other postretirement liabilities	(482,955		)	1,301,831			(1,784,786		)
Other	5,977			(641,467		)	647,444
Net cash flow provided by operating activities	3,213,047			3,733,362			(520,315		)
INVESTING ACTIVITIES
Construction/capital expenditures	(2,603,913		)	(2,168,799		)	(435,114		)
Allowance for equity funds used during construction	59,665			65,569			(5,904		)
Nuclear fuel purchases	(483,031		)	(491,268		)	8,237
Payment for purchase of plant	(947,778		)	—			(947,778		)
Proceeds from sale of assets and businesses	487,406			—			487,406
Insurance proceeds received for property damages	11,654			25,189			(13,535		)
Changes in securitization account	(6,954		)	3,479			(10,433		)
NYPA value sharing payment	—			(70,790		)	70,790
Payments to storm reserve escrow account	(67,665		)	(276,025		)	208,360
Receipts from storm reserve escrow account	5,916			—			5,916
Decrease (increase) in other investments	(196,216		)	29,168			(225,384		)
Litigation proceeds for reimbursement of spent nuclear fuel storage costs	18,296			—			18,296
Proceeds from nuclear decommissioning trust fund sales	2,728,749			1,828,441			900,308
Investment in nuclear decommissioning trust funds	(2,793,059		)	(1,943,732		)	(849,327		)
Net cash flow used in investing activities	(3,786,930		)	(2,998,768		)	(788,162		)
FINANCING ACTIVITIES
Proceeds from the issuance of:
Long-term debt	5,883,932			2,834,890			3,049,042
Preferred stock of subsidiary	107,426			—			107,426
Treasury stock	6,997			182,484			(175,487		)
Retirement of long-term debt	(4,679,930		)	(2,272,777		)	(2,407,153		)
Repurchase of common stock	(74,729		)	(208,349		)	133,620
Repurchase / redemption of preferred stock	(94,285		)	—			(94,285		)
Changes in credit borrowings and commercial paper - net	(42,329		)	(396,422		)	354,093
Other	(459		)	14,258			(14,717		)
Dividends paid:
Common stock	(601,480		)	(597,098		)	(4,382		)
Preferred stock	(20,155		)	(19,517		)	(638		)
Net cash flow provided by (used in) financing activities	484,988			(462,531		)	947,519
Net increase (decrease) in cash and cash equivalents	(88,895		)	272,063			(360,958		)
Cash and cash equivalents at beginning of period	1,180,546			908,483			272,063
Cash and cash equivalents at end of period		$1,091,651			$1,180,546			($88,895	)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest - net of amount capitalized		$711,149			$634,050			$77,099
Income taxes		$64,052			$139,522			($75,470	)

EX-99.2

Exhibit 99.2

STATEMENT ON USES AND USEFULNESS OF NON-GAAP FINANCIAL MEASURES

Exhibit 99.1 to this Report on Form 8-K (the "Earnings Release") contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Pursuant to the requirements of Regulation G, Entergy has provided quantitative reconciliations within the Earnings Release and the presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

Certain non-GAAP measures in the Earnings Release could differ from GAAP only in that the figure or ratio states or includes operational earnings per share. Operational earnings per share is presented for each of Entergy's reportable business segments as well as on a consolidated basis. Operational earnings per share is not calculated in accordance with GAAP because it excludes the effect of "special items." Special items reflect the effect on earnings of events that are less routine or are related to discontinued businesses. In addition, other financial measures including net income (or earnings), earnings per share excluding special items and weather and normalizing for income tax; rolling 12 months adjusted for preferred dividends and tax effected interest expense; non-fuel operation and maintenance expenses; return on average invested capital; and return on average common equity are included on both an operational and as-reported basis. In each case, the metrics defined as "operational" would exclude the effect of special items as defined above. Management believes that financial metrics calculated using operational earnings could provide useful information to investors in evaluating the ongoing results of Entergy's businesses and could assist investors in comparing Entergy's operating performance to the operating performance of others in the energy sector.

Other non-GAAP measures, adjusted EBITDA; operational adjusted EBITDA; gross liquidity; debt to capital ratio, excluding securitization debt; net debt to net capital ratio, excluding securitization debt; parent debt to total debt ratio, excluding securitization debt; debt to operational adjusted EBITDA, excluding securitization debt; FFO; and operational FFO to debt ratio, excluding securitization debt; are measures Entergy uses internally for management and board discussions and cash budgeting and performance monitoring activities to gauge the overall strength of its business. Entergy believes the above data could provide useful information to investors in evaluating Entergy's ongoing financial results and flexibility, and could assist investors in comparing Entergy's cash availability to the cash availability of others in the energy sector.

The non-GAAP financial measures and other reported adjusted items in the Earnings Release are presented in addition to, and in conjunction with, results presented in accordance with GAAP.  These non-GAAP financial measures should not be used to the exclusion of GAAP financial measures.  These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, could provide a more complete understanding of factors and trends affecting our business.  Investors are strongly encouraged to review our consolidated financial statements and publicly filed reports in their entirety and to not rely on any single financial measure.  Non-GAAP financial measures are not standardized; therefore, it might not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.