Entergy Louisiana, LLC COLLATERAL TR MT (ELC) 8-K Other Events

Exhibit 99.2

UNAUDITED PRO FORMA FINANCIAL INFORMATION

On October 1, 2015, the public utility businesses of Entergy Louisiana and Entergy Gulf States Louisiana were combined into a single public utility. As part of the steps to effectuate the combination, Entergy Louisiana and Entergy Gulf States Louisiana redeemed or repurchased all of their respective outstanding preferred membership interests.

The unaudited pro forma financial information combines the historical financial statements of Entergy Louisiana and Entergy Gulf States Louisiana to illustrate the effect of the proposed business combination. The combination will be accounted for as a transaction between entities under common control. The pro forma combined financial information should be read in conjunction with the Entergy Louisiana and Entergy Gulf States Louisiana historical financial statements and the related notes thereto. The unaudited pro forma combined financial statements presented below have been derived from the unaudited interim financial statements as of and for the nine months ended September 30, 2015. The unaudited historical interim financial statements have been prepared on a basis consistent with the audited financial statements and, in the opinion of management, include all adjustments (including normal recurring accruals) necessary for a fair presentation of such data. The results for the interim periods are not necessarily indicative of results for a full year.

The unaudited pro forma condensed combined income statements have been prepared as if the combination had occurred on January 1, 2015. The unaudited pro forma condensed combined balance sheet has been prepared as if the combination had occurred on September 30, 2015. The unaudited pro forma adjustments reflect items that are directly attributable to the combination, are factually supportable, and, for the condensed combined income statements, are expected to have a continuing effect on the combined Entergy Louisiana utility business.

The unaudited pro forma financial information is for illustrative and informational purposes only and is not intended to represent, or be indicative of, what the combined Entergy Louisiana utility business’s results of operations or financial position would have been had the combination occurred on the dates indicated. The unaudited pro forma financial information also should not be considered representative of the combined Entergy Louisiana utility business’s future financial position or results of operations.

The Entergy Louisiana Combined Utility Business
Unaudited Pro Forma Condensed Combined Balance Sheet
September 30, 2015
(In Thousands)
	Entergy Louisiana, LLC		Entergy Gulf States Louisiana, LLC		Combination and Pro Forma Adjustments				The Entergy Louisiana Combined Utility Business Pro Forma (3)
ASSETS
Cash and cash equivalents		$240,939		$22,779		$—				$263,718
Other current assets	604,710		483,325		(47,715		)	(2)	1,040,320
Investment in affiliate preferred membership interests	1,034,695		355,906		—				1,390,601
Decommissioning trust funds	376,448		624,116		—				1,000,564
Total property, plant, and equipment	10,532,636		8,269,977		—				18,802,613
Less - accumulated depreciation and amortization	4,058,990		4,259,586		—				8,318,576
Property, plant, and equipment - net	6,473,646		4,010,391		—				10,484,037
Regulatory assets	1,247,035		660,604		—				1,907,639
Other assets	270,724		319,523		—				590,247
TOTAL ASSETS		$10,248,197		$6,476,644		($47,715	)			$16,677,126
LIABILITIES AND EQUITY
Current liabilities		$612,817		$510,560		($47,715	)	(2)		$1,075,662
Accumulated deferred income taxes and long-term taxes accrued	1,484,567		1,434,969		—				2,919,536
Long-term debt	3,299,254		1,625,809		—				4,925,063
Other non-current liabilities	1,874,109		1,328,385		—				3,202,494
Equity	2,977,450		1,576,921		—				4,554,371
TOTAL LIABILITIES AND EQUITY		$10,248,197		$6,476,644		($47,715	)			$16,677,126
See notes to the unaudited pro forma financial information.

The Entergy Louisiana Combined Utility Business
Unaudited Pro Forma Condensed Combined Income Statement
For the Nine Months Ended September 30, 2015
(In Thousands)
	Entergy Louisiana, LLC			Entergy Gulf States Louisiana, LLC			Combination and Pro Forma Adjustments				The Entergy Louisiana Combined Utility Business Pro Forma (3)
OPERATING REVENUES
Operating Revenues		$2,117,657			$1,508,593			($183,978	)	(2)		$3,442,272
OPERATING EXPENSES
Operation and Maintenance:
Fuel and fuel-related expenses	453,627			193,504			—				647,131
Purchased power	536,553			549,382			(183,978		)	(2)	901,957
Nuclear refueling outage expenses	18,469			15,718			—				34,187
Other operation and maintenance	399,141			301,270			—				700,411
Decommissioning	19,319			13,046			—				32,365
Taxes other than income taxes	62,309			65,895			—				128,204
Depreciation and amortization	209,713			117,475			—				327,188
Other regulatory charges (credits) - net	(6,711		)	6,260			—				(451		)
TOTAL	1,692,420			1,262,550			(183,978		)		2,770,992
OPERATING INCOME	425,237			246,043			—				671,280
OTHER INCOME
Allowance for equity funds used during construction	9,625			5,569			—				15,194
Interest and investment income	77,637			34,792			—				112,429
Miscellaneous - net	(2,200		)	(5,564		)	—				(7,764		)
TOTAL	85,062			34,797			—				119,859
INTEREST EXPENSE
Interest expense	129,172			65,529			—				194,701
Allowance for equity funds used during construction	(5,230		)	(3,297		)	—				(8,527		)
TOTAL	123,942			62,232			—				186,174
INCOME BEFORE INCOME TAXES	386,357			218,608			—				604,965
Income taxes	120,075			62,660			—				182,735
NET INCOME	266,282			155,948			—				422,230
Preferred distribution requirements	5,155			582			(5,737		)	(1)	—
EARNINGS APPLICABLE TO COMMON EQUITY		$261,127			$155,366			$5,737				$422,230
See notes to the unaudited pro forma financial information.

Notes to Unaudited Pro Forma Financial Information

(1) Reflects the redemption or repurchase in September 2015 by Entergy Louisiana and Entergy Gulf States Louisiana of all of their outstanding preferred membership interests along with the payment of accrued distributions.

(2) Reflects the elimination of intercompany balances and power purchases between Entergy Louisiana and Entergy Gulf States Louisiana.

(3) Reflects the total of the “Entergy Louisiana, LLC,” the “Entergy Gulf States Louisiana, LLC,” and the “Combination and Pro Forma Adjustments” columns.