CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (USD $) | |||
In Thousands, except Share data | 12 Months Ended
Dec. 31, 2009 | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 |
OPERATING REVENUES | |||
Electric | $7,880,016 | $10,073,160 | $9,046,301 |
Natural gas | 172,213 | 241,856 | 206,073 |
Competitive businesses | 2,693,421 | 2,778,740 | 2,232,024 |
TOTAL | 10,745,650 | 13,093,756 | 11,484,398 |
OPERATING EXPENSES | |||
Fuel, fuel-related expenses, and gas purchased for resale | 2,309,831 | 3,577,764 | 2,934,833 |
Purchased power | 1,395,203 | 2,491,200 | 1,986,950 |
Nuclear refueling outage expenses | 241,310 | 221,759 | 180,971 |
Other operation and maintenance | 2,750,810 | 2,742,762 | 2,649,654 |
Decommissioning | 199,063 | 189,409 | 167,898 |
Taxes other than income taxes | 503,859 | 496,952 | 489,058 |
Depreciation and amortization | 1,082,775 | 1,030,860 | 963,712 |
Other regulatory charges (credits) - net | (21,727) | 59,883 | 54,954 |
TOTAL | 8,461,124 | 10,810,589 | 9,428,030 |
OPERATING INCOME | 2,284,526 | 2,283,167 | 2,056,368 |
OTHER INCOME | |||
Allowance for equity funds used during construction | 59,545 | 44,523 | 42,742 |
Interest and dividend income | 236,628 | 197,872 | 238,911 |
Other than temporary impairment losses | (86,069) | (49,656) | (4,914) |
Equity in earnings (loss) of unconsolidated equity affiliates | (7,793) | (11,684) | 3,176 |
Miscellaneous - net | (32,603) | (11,768) | (24,860) |
TOTAL | 169,708 | 169,287 | 255,055 |
INTEREST AND OTHER CHARGES | |||
Interest on long-term debt | 520,716 | 500,898 | 506,089 |
Other interest - net | 82,963 | 133,290 | 155,995 |
Allowance for borrowed funds used during construction | (33,235) | (25,267) | (25,032) |
TOTAL | 570,444 | 608,921 | 637,052 |
INCOME BEFORE INCOME TAXES | 1,883,790 | 1,843,533 | 1,674,371 |
Income taxes | 632,740 | 602,998 | 514,417 |
CONSOLIDATED NET INCOME | 1,251,050 | 1,240,535 | 1,159,954 |
Preferred dividend requirements of subsidiaries | 19,958 | 19,969 | 25,105 |
NET INCOME ATTRIBUTABLE TO ENTERGY CORPORATION | $1,231,092 | $1,220,566 | $1,134,849 |
Earnings per average common share | |||
Basic | 6.39 | 6.39 | 5.77 |
Diluted | 6.3 | 6.2 | 5.6 |
Dividends declared per common share | $3 | $3 | 2.58 |
Basic average number of common shares outstanding | 192,772,032 | 190,925,613 | 196,572,945 |
Diluted average number of common shares outstanding | 195,838,068 | 201,011,588 | 202,780,283 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | |||
In Thousands | 12 Months Ended
Dec. 31, 2009 | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 |
OPERATING ACTIVITIES | |||
Consolidated net income | $1,251,050 | $1,240,535 | $1,159,954 |
Consolidated net income Adjustments to reconcile consolidated net income to net cash flow | |||
Reserve for regulatory adjustments | (508) | (8,285) | (15,574) |
Other regulatory charges (credits) - net | (21,727) | 59,883 | 54,954 |
Depreciation, amortization, and decommissioning | 1,281,838 | 1,220,269 | 1,131,610 |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 864,684 | 333,948 | 476,241 |
Equity in losses of unconsolidated equity affiliates - net of dividends | 7,793 | 11,684 | (3,176) |
Changes in working capital: | |||
Receivables | 116,444 | 78,653 | (62,646) |
Fuel inventory | 19,291 | (7,561) | (10,445) |
Accounts payable | (14,251) | (23,225) | (103,048) |
Taxes accrued | (75,210) | 75,210 | (187,324) |
Interest accrued | 4,974 | (652) | 11,785 |
Deferred fuel | 72,314 | (38,500) | 912 |
Other working capital accounts | (228,210) | (72,372) | (73,269) |
Provision for estimated losses and reserves | (12,030) | 12,462 | (59,292) |
Changes in other regulatory assets | (415,157) | (324,211) | 254,736 |
Changes in pensions and other postretirement liabilities | 71,789 | 828,160 | (56,224) |
Other | 10,074 | (61,670) | 40,576 |
Net cash flow provided by operating activities | 2,933,158 | 3,324,328 | 2,559,770 |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (1,931,245) | (2,212,255) | (1,578,030) |
Allowance for equity funds used during construction | 59,545 | 44,523 | 42,742 |
Nuclear fuel purchases | (525,474) | (423,951) | (408,732) |
Proceeds from sale/leaseback of nuclear fuel | 284,997 | 297,097 | 169,066 |
Proceeds from sale of assets and businesses | 39,554 | 30,725 | 13,063 |
Payment for purchase of plant | 0 | (266,823) | (336,211) |
Insurance proceeds received for property damages | 53,760 | 130,114 | 83,104 |
Changes in transition charge account | (1,036) | 7,211 | (19,273) |
NYPA value sharing payment | (72,000) | (72,000) | 0 |
Increase (decrease) in other investments | 94,154 | (72,833) | 41,720 |
Proceeds from nuclear decommissioning trust fund sales | 2,570,523 | 1,652,277 | 1,583,584 |
Investment in nuclear decommissioning trust funds | (2,667,172) | (1,704,181) | (1,708,764) |
Net cash flow used in investing activities | (2,094,394) | (2,590,096) | (2,117,731) |
Proceeds from the issuance of: | |||
Long-term debt | 2,003,469 | 3,456,695 | 2,866,136 |
Preferred equity | 0 | 0 | 10,000 |
Common stock and treasury stock | 28,198 | 34,775 | 78,830 |
Retirement of long-term debt | (1,843,169) | (2,486,806) | (1,369,945) |
Changes in short term borrowings - net | (25,000) | 30,000 | 0 |
Repurchase of common stock | (613,125) | (512,351) | (1,215,578) |
Redemption of preferred stock | 1,847 | 0 | 57,827 |
Dividends paid: | |||
Common stock | (576,956) | (573,045) | (507,327) |
Preferred stock | (19,958) | (20,025) | (25,875) |
Net cash flow provided by (used in) financing activities | (1,048,388) | (70,757) | (221,586) |
Effect of exchange rates on cash and cash equivalents | (1,316) | 3,288 | 30 |
Net increase (decrease) in cash and cash equivalents | (210,940) | 666,763 | 220,483 |
Cash and cash equivalents at beginning of period | 1,920,491 | 1,253,728 | 1,016,152 |
Effect Of Reconsolidation Of Entergy New Orleans On Cash And Cash Equivalents | 0 | 0 | 17,093 |
Cash and cash equivalents at end of period | 1,709,551 | 1,920,491 | 1,253,728 |
Cash paid (received) during the period for: | |||
Interest - net of amount capitalized | 568,417 | 612,288 | 611,197 |
Income taxes | 43,057 | 137,234 | 376,808 |
Noncash financing activities: | |||
Long-term debt retired (equity unit notes) | (500,000) | 0 | 0 |
Common stock issued in settlement of equity unit purchase contracts | $500,000 | $0 | $0 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | ||
In Thousands | Dec. 31, 2009
| Dec. 31, 2008
|
Cash and cash equivalents: | ||
Cash | $85,861 | $115,876 |
Temporary cash investments | 1,623,690 | 1,804,615 |
Total cash and cash equivalents | 1,709,551 | 1,920,491 |
Securitization recovery trust account | 13,098 | 12,062 |
Accounts receivable: | ||
Customer | 553,692 | 734,204 |
Allowance for doubtful accounts | (27,631) | (25,610) |
Other | 152,303 | 206,627 |
Accrued unbilled revenues | 302,463 | 282,914 |
Total accounts receivable | 980,827 | 1,198,135 |
Deferred fuel costs | 126,798 | 167,092 |
Accumulated deferred income taxes | 0 | 7,307 |
Fuel inventory - at average cost | 196,855 | 216,145 |
Materials and supplies - at average cost | 825,702 | 776,170 |
Deferred nuclear refueling outage costs | 225,290 | 221,803 |
System agreement cost equalization | 70,000 | 394,000 |
Prepayments and other | 386,040 | 247,184 |
TOTAL | 4,534,161 | 5,160,389 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 39,580 | 66,247 |
Decommissioning trust funds | 3,211,183 | 2,832,243 |
Non-utility property - at cost (less accumulated depreciation) | 247,664 | 231,115 |
Other | 120,273 | 107,939 |
TOTAL | 3,618,700 | 3,237,544 |
PROPERTY, PLANT AND EQUIPMENT | ||
Electric | 36,343,772 | 34,495,406 |
Property under capital lease | 783,096 | 745,504 |
Natural gas | 314,256 | 303,769 |
Construction work in progress | 1,547,319 | 1,712,761 |
Nuclear fuel under capital lease | 527,521 | 465,374 |
Nuclear fuel | 739,827 | 636,813 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 40,255,791 | 38,359,627 |
Less - accumulated depreciation and amortization | 16,866,389 | 15,930,513 |
PROPERTY, PLANT AND EQUIPMENT - NET | 23,389,402 | 22,429,114 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 619,500 | 581,719 |
Other regulatory assets | 3,647,154 | 3,615,104 |
Deferred fuel costs | 172,202 | 168,122 |
Goodwill | 377,172 | 377,172 |
Other | 1,006,306 | 1,047,654 |
TOTAL | 5,822,334 | 5,789,771 |
TOTAL ASSETS | 37,364,597 | 36,616,818 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 711,957 | 544,460 |
Notes payable | 30,031 | 55,034 |
Accounts payable | 998,228 | 1,475,745 |
Customer deposits | 323,342 | 302,303 |
Taxes accrued | 0 | 75,210 |
Accumulated deferred income taxes | 48,584 | 0 |
Interest accrued | 192,283 | 187,310 |
Deferred fuel costs | 219,639 | 183,539 |
Obligations under capital leases | 212,496 | 162,393 |
Pension and other postretirement liabilities | 55,031 | 46,288 |
System agreement cost equalization | 187,204 | 460,315 |
Other | 215,202 | 273,297 |
TOTAL | 3,193,997 | 3,765,894 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 7,422,319 | 6,565,770 |
Accumulated deferred investment tax credits | 308,395 | 325,570 |
Obligations under capital leases | 354,233 | 343,093 |
Other regulatory liabilities | 421,985 | 280,643 |
Decommissioning and asset retirement cost liabilities | 2,939,539 | 2,677,495 |
Accumulated provisions | 141,315 | 147,452 |
Pension and other postretirement liabilities | 2,241,039 | 2,177,993 |
Long-term debt | 10,705,738 | 11,174,289 |
Other | 711,334 | 880,998 |
TOTAL | 25,245,897 | 24,573,303 |
Commitments and Contingencies | ||
Subsidiaries' preferred stock without sinking fund | 217,343 | 217,029 |
Common Shareholders' Equity: | ||
Common stock, $.01 par value, authorized 500,000,000 shares; issued 254,752,788 shares in 2009 and 248,174,087 shares in 2008 | 2,548 | 2,482 |
Paid-in capital | 5,370,042 | 4,869,303 |
Retained earnings | 8,043,122 | 7,382,719 |
Accumulated other comprehensive loss | (75,185) | (112,698) |
Less - treasury stock, at cost (65,853,363 shares in 2009 and 58,815,518 shares in 2008) | 4,727,167 | 4,175,214 |
Total common shareholders' equity | 8,613,360 | 7,966,592 |
Subsidiaries' preferred stock without sinking fund | 94,000 | 94,000 |
TOTAL | 8,707,360 | 8,060,592 |
TOTAL LIABILITIES AND EQUITY | $37,364,597 | $36,616,818 |
PARENTHETICAL DATA FOR CONSOLID
PARENTHETICAL DATA FOR CONSOLIDATED BALANCE SHEETS (USD $) | ||
Dec. 31, 2009
| Dec. 31, 2008
| |
EQUITY | ||
Common stock, par value | 0.01 | 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 254,752,788 | 248,174,087 |
Treasury stock, shares | 65,634,580 | 58,815,518 |
CONSOLIDATED STATEMENTS OF RETA
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID IN CAPITAL (USD $) | |||||||||||||||||||||||||||||||||
In Thousands | 12 Months Ended
Dec. 31, 2009 | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 | 12 Months Ended
Dec. 31, 2009 Retained Earnings [Member] | 12 Months Ended
Dec. 31, 2008 Retained Earnings [Member] | 12 Months Ended
Dec. 31, 2007 Retained Earnings [Member] | Dec. 31, 2006
Retained Earnings [Member] | 12 Months Ended
Dec. 31, 2009 Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | 12 Months Ended
Dec. 31, 2008 Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | 12 Months Ended
Dec. 31, 2007 Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Dec. 31, 2006
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | 12 Months Ended
Dec. 31, 2009 Accumulated Defined Benefit Plans Adjustment [Member] | 12 Months Ended
Dec. 31, 2008 Accumulated Defined Benefit Plans Adjustment [Member] | 12 Months Ended
Dec. 31, 2007 Accumulated Defined Benefit Plans Adjustment [Member] | Dec. 31, 2006
Accumulated Defined Benefit Plans Adjustment [Member] | 12 Months Ended
Dec. 31, 2009 Accumulated Net Unrealized Investment Gain (Loss) [Member] | 12 Months Ended
Dec. 31, 2008 Accumulated Net Unrealized Investment Gain (Loss) [Member] | 12 Months Ended
Dec. 31, 2007 Accumulated Net Unrealized Investment Gain (Loss) [Member] | Dec. 31, 2006
Accumulated Net Unrealized Investment Gain (Loss) [Member] | 12 Months Ended
Dec. 31, 2009 Accumulated Translation Adjustment [Member] | 12 Months Ended
Dec. 31, 2008 Accumulated Translation Adjustment [Member] | 12 Months Ended
Dec. 31, 2007 Accumulated Translation Adjustment [Member] | Dec. 31, 2006
Accumulated Translation Adjustment [Member] | Dec. 31, 2008
Accumulated Other Comprehensive Income [Member] | Dec. 31, 2007
Accumulated Other Comprehensive Income [Member] | Dec. 31, 2006
Accumulated Other Comprehensive Income [Member] | Additional Paid-in Capital [Member]
1/1/2009 - 12/31/2009 | Additional Paid-in Capital [Member]
1/1/2008 - 12/31/2008 | Additional Paid-in Capital [Member]
1/1/2007 - 12/31/2007 | Additional Paid-in Capital [Member]
12/31/2006 | 12 Months Ended
Dec. 31, 2009 Comprehensive Income [Member] | 12 Months Ended
Dec. 31, 2008 Comprehensive Income [Member] | 12 Months Ended
Dec. 31, 2007 Comprehensive Income [Member] |
Balance, Beginning of period | $8,060,592 | $7,382,719 | $6,735,965 | $6,113,042 | $120,830 | ($12,540) | ($105,578) | ($232,232) | ($107,145) | ($105,909) | ($4,402) | $121,611 | $104,551 | $3,106 | $6,394 | $6,424 | $4,869,303 | $4,850,769 | $4,827,265 | ||||||||||||||
Net income attributable to Entergy Corporation | 1,251,050 | 1,240,535 | 1,159,954 | 1,231,092 | 1,220,566 | 1,134,849 | 1,231,092 | 1,220,566 | 1,134,849 | ||||||||||||||||||||||||
Adjustments related to implementation of new accounting pronouncements | 6,365 | 0 | (4,600) | (6,365) | 0 | 0 | |||||||||||||||||||||||||||
Total after additions | 1,237,457 | 1,220,566 | 1,130,249 | ||||||||||||||||||||||||||||||
Dividends declared on common stock | 576,913 | 573,924 | 507,326 | ||||||||||||||||||||||||||||||
Capital Stock and Other Expenses | 141 | (112) | 0 | ||||||||||||||||||||||||||||||
Net derivative instrument fair value changes arising during the period | (2,887) | 133,370 | 93,038 | (2,887) | 133,370 | 93,038 | |||||||||||||||||||||||||||
Pension and other postretirement liabilities | (35,707) | (125,087) | (1,236) | (35,707) | (125,087) | (1,236) | |||||||||||||||||||||||||||
Net unrealized investment gains (losses) | 82,929 | (126,013) | 17,060 | 82,929 | (126,013) | 17,060 | |||||||||||||||||||||||||||
Foreign currency translation | (457) | (3,288) | (30) | (457) | (3,288) | (30) | |||||||||||||||||||||||||||
Total | 577,054 | 573,812 | 507,326 | ||||||||||||||||||||||||||||||
Add: preferred dividend requirements of subsidiaries | 19,958 | 19,969 | 25,105 | ||||||||||||||||||||||||||||||
Comprehensive Income | 1,294,928 | 1,119,517 | 1,268,786 | ||||||||||||||||||||||||||||||
Common stock issuances in settlement of equity unit purchase contracts | 499,934 | 0 | 0 | ||||||||||||||||||||||||||||||
Common stock issuances related to stock plans | 805 | 18,534 | 23,504 | ||||||||||||||||||||||||||||||
Total | 500,739 | 18,534 | 23,504 | ||||||||||||||||||||||||||||||
Balance, End of period | $8,707,360 | $8,060,592 | $8,043,122 | $7,382,719 | $6,735,965 | $6,113,042 | $117,943 | $120,830 | ($12,540) | ($105,578) | ($267,939) | ($232,232) | ($107,145) | ($105,909) | $72,162 | ($4,402) | $121,611 | $104,551 | $2,649 | $3,106 | $6,394 | $6,424 | ($112,698) | $8,320 | ($100,512) | $4,869,303 | $4,850,769 | $4,827,265 |
1_PARENTHETICAL DATA FOR CONSOL
PARENTHETICAL DATA FOR CONSOLIDATED STATEMENTS OF RETAINED EARNINGS, COMPREHENSIVE INCOME, AND PAID-IN CAPITAL (USD $) | |||
In Thousands | 12 Months Ended
Dec. 31, 2009 | 12 Months Ended
Dec. 31, 2008 | 12 Months Ended
Dec. 31, 2007 |
Statement of Stockholders' Equity [Abstract] | |||
Other Comprehensive Income, Derivatives Qualifying as Hedges, Tax Effect | $333 | $78,837 | $57,185 |
Other Comprehensive Income, Defined Benefit Plans, Tax | (34,415) | (68,076) | 29,994 |
Other Comprehensive Income, Available-for-sale Securities, Tax | 102,845 | (108,049) | 23,562 |
Other Comprehensive Income, Foreign Currency Translation Adjustment, Tax | (246) | (1,770) | (16) |
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | ($4,921) | $0 | $0 |
NOTE 1. SUMMARY OF SIGNIFICANT
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) The accompanying consolidated financial statements include the accounts of Entergy Corporation and its subsidiaries.As required by generally accepted accounting principles, all significant intercompany transactions have been eliminated in the consolidated financial statements.Entergy's Registrant Subsidiaries (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) also include their separate financial statements in this Form 10-K.The Registrant Subsidiaries and many other Entergy subsidiaries maintain accounts in accordance with FERC and other regulatory guidelines.Certain previously reported amounts have been reclassified to conform to current classifications, with no effect on net income or shareholders' (or members') equity. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles, the preparation of Entergy Corporation's consolidated financial statements and the separate financial statements of the Registrant Subsidiaries requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities.Adjustments to the reported amounts of assets and liabilities may be necessary in the future to the extent that future estimates or actual results are different from the estimates used. Revenues and Fuel Costs Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Louisiana, Mississippi, and Texas, respectively.Entergy Gulf States Louisiana also distributes natural gas to retail customers in and around Baton Rouge, Louisiana.Entergy New Orleans sells both electric power and natural gas to retail customers in the City of New Orleans, except for Algiers, where Entergy Louisiana is the electric power supplier.Entergy's Non-Utility Nuclear segment derives almost all of its revenue from sales of electric power generated by plants owned by the Non-Utility Nuclear segment. Entergy recognizes revenue from electric power and natural gas sales when power or gas is delivered to customers.To the extent that deliveries have occurred but a bill has not been issued, Entergy's Utility operating companies accrue an estimate of the revenues for energy delivered since the latest billings.The Utility operating companies calculate the estimate based upon several factors including billings through the last billing cycle in a month, actual generation in the month, historical line loss factors, and prices in effect in Entergy's Utility operating companies' various jurisdictions.Changes are made to the inputs in the estimate as needed to reflect changes in billing practices.Each month the estimated unbilled revenue amounts a |
NOTE 2. RATE AND REGULATORY MAT
NOTE 2. RATE AND REGULATORY MATTERS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
RATE AND REGULATORY MATTERS | NOTE 2.RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets Other Regulatory Assets Regulatory assets represent probable future revenues associated with costs that are expected to be recovered from customers through the regulatory ratemaking process affecting the Utility business.In addition to the regulatory assets that are specifically disclosed on the face of the balance sheets, the table below provides detail of "Other regulatory assets" that are included on Entergy's and the Registrant Subsidiaries' balance sheets as of December31, 2009 and 2008: Entergy 2009 2008 (In Millions) Asset Retirement Obligation - recovery dependent upon timing of decommissioning (Note 9) (b) $403.9 $371.2 Deferred capacity - recovery timing will be determined by the LPSC in the formula rate plan filings (Note 2 Retail Rate Proceedings Filings with the LPSC) 23.2 48.4 Grand Gulf fuel - non-current - recovered through rate riders when rates are redetermined periodically (Note 2 Fuel and purchased power cost recovery) 58.2 28.6 Gas hedging costs - recovered through fuel rates 0.4 66.8 Pension postretirement costs (Note 11 Qualified Pension Plans, Other Postretirement Benefits, and Non Qualified Pension Plans) (b) 1,481.7 1,468.6 Postretirement benefits - recovered through 2012 (Note 11 Other Postretirement Benefits) (b) 7.2 9.6 Provision for storm damages, including hurricane costs - recovered through securitization, insurance proceeds, and retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators) 1,183.2 1,041.4 Removal costs - recovered through depreciation rates (Note 9) (b) 44.4 63.9 River Bend AFUDC - recovered through August 2025 (Note 1 River Bend AFUDC) 28.1 29.9 Sale-leaseback deferral - Grand Gulf and Waterford 3 Lease Obligations recovered through June 2014 and December 2044, respectively(Note 10 Sale and LeasebackTransactions Grand Gulf Lease Obligations and Waterford 3 Lease Obligations) 115.3 122.8 Spindletop gas storage facility - recovered through December 2032 (a) 34.2 35.8 Transition to competition - recovered through February 2021 (Note 2 Retail Rate Proceedings Filings with the PUCT and Texas Cities) 101.9 107.6 Unamortized loss on reacquired debt - recovered over term of debt 115.0 124.0 Unrealized loss on decommissioning trust funds - 42.3 Other 50.5 54.2 Total $3,647.2 $3,615.1 Entergy Arkansas 2009 2008 (In Millions) Asset Retirement Obligation - recovery dependent upon timing of decommissioning (Note 9) (b) $179.4 $164.9 Removal costs - recovered through depreciation rates (Note 9) (b) - 5.9 Incremental ice storm costs - recovered through 2032 11.6 12.1 Pension postretirement costs (N |
NOTE 3. INCOME TAXES
NOTE 3. INCOME TAXES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
INCOME TAXES | NOTE 3.INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income tax expenses from continuing operations for 2009, 2008, and 2007 for Entergy Corporation and subsidiaries consist of the following: 2009 2008 2007 Current: Federal $ (433,105 ) $ 451,517 $ (1,379,288 ) Foreign 154 256 316 State (108,552 ) 146,171 27,174 Total (541,503 ) 597,944 (1,351,798 ) Deferred and non-current -- net 1,191,418 23,022 1,884,383 Investment tax credit adjustments -- net (17,175 ) (17,968 ) (18,168 ) Income tax expense from continuing operations $ 632,740 $ 602,998 $ 514,417 Income tax expenses for 2009, 2008, and 2007 for Entergy's Registrant Subsidiaries consist of the following: 2009 Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($37,544) ($203,651) $12,387 $19,347 $160,846 ($72,207) $73,183 State 22,710 (12,416) (49,843) (2,321) 1,171 2,478 (12,667) Total (14,834) (216,067) (37,456) 17,026 162,017 (69,729) 60,516 Deferred and non-current -- net 100,584 308,659 85,728 26,400 (145,981) 108,253 39,866 Investment tax credit adjustments - net (3,994) (3,407) (3,222) (1,103) (323) (1,609) (3,481) Recorded income tax expense $81,756 $89,185 $45,050 $42,323 $15,713 $36,915 $96,901 2008 Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($200,032) $96,585 $335,164 $43,214 $22,419 $73,974 25,356 State 12,533 39,423 59,304 5,099 (3,493) 3,954 8,518 Total (187,499) 136,008 394,468 48,313 18,926 77,928 33,874 Deferred and non-current -- net 288,118 (74,681) (320,596) (13,918) 4,471 (48,200) 29,100 Investment tax credit adjustments - net (3,996) (4,130) (3,224) (1,155) (345) (1,610) (3,480) Recorded income tax expense $96,623 $57,197 $70,648 $33,240 $23,052 $28,118 $59,494 2007 Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas |
NOTE 4. REVOLVING CREDIT FACILI
NOTE 4. REVOLVING CREDIT FACILITIES, LINES OF CREDIT AND SHORT-TERM BORROWINGS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
REVOLVING CREDIT FACILITIES, LINES OF CREDIT AND SHORT-TERM BORROWINGS | NOTE 4.REVOLVING CREDIT FACILITIES, LINES OF CREDIT AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has a revolving credit facility that expires in August 2012 and has a borrowing capacity of $3.5 billion.Entergy Corporation also has the ability to issue letters of credit against the total borrowing capacity of the credit facility.The facility fee is currently 0.09% of the commitment amount.Facility fees and interest rates on loans under the credit facility can fluctuate depending on the senior unsecured debt ratings of Entergy Corporation.The weighted average interest rate for the year ended December 31, 2009 was 1.377% on the drawn portion of the facility.Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2009. Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $2,566 $28 $906 Entergy Corporation's facility requires it to maintain a consolidated debt ratio of 65% or less of its total capitalization.Entergy is in compliance with this covenant.If Entergy fails to meet this ratio, or if Entergy Corporation or one of the Utility operating companies (except Entergy New Orleans) defaults on other indebtedness or is in bankruptcy or insolvency proceedings, an acceleration of the facility maturity date may occur. Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy Texas each had credit facilities available as of December 31, 2009 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2009 Entergy Arkansas April 2010 $88 million (b) 5.00% - Entergy Gulf States Louisiana August 2012 $100 million (c) 0.71% - Entergy Louisiana August 2012 $200 million (d) 0.64% - Entergy Mississippi May 2010 $35 million (e) 1.98% - Entergy Mississippi May 2010 $25 million (e) 1.98% - Entergy Mississippi May 2010 $10 million (e) 1.91% - Entergy Texas August 2012 $100 million (f) 0.71% - (a) The interest rate is the weighted average interest rate as of December 31, 2009 applied or that would be applied to the outstanding borrowings under the facility. (b) The credit facility requires Entergy Arkansas to maintain a debt ratio of 65% or less of its total capitalization and contains an interest rate floor of 5%.Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable. (c) The credit facility allows Entergy Gulf States Louisiana to issue letters of credit against the borrowing capacity of the facility.As of December 31, 2009, no letters of credit were outstanding.The credit facility requires Entergy Gulf States Louisiana to maintain a consolidated debt rat |
NOTE 5. LONG - TERM DEBT
NOTE 5. LONG - TERM DEBT | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
LONG-TERM DEBT | NOTE 5.LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2009 and 2008 consisted of: 2009 2008 (In Thousands) Mortgage Bonds: Libor + 0.40% Series due December 2009-Entergy Gulf States Louisiana (f) $- $219,470 4.5% Series due June 2010 - Entergy Arkansas 100,000 100,000 4.67% Series due June 2010 - Entergy Louisiana 55,000 55,000 4.98% Series due July 2010 - Entergy New Orleans 30,000 30,000 5.12% Series due August 2010 - Entergy Gulf States Louisiana (f) - 100,000 5.83% Series due November 2010 - Entergy Louisiana 150,000 150,000 4.65% Series due May 2011 - Entergy Mississippi 80,000 80,000 4.875% Series due November 2011 - Entergy Gulf States Louisiana (f) 200,000 200,000 6.2% Series due October 2012 - System Energy 70,000 70,000 6.0% Series due December 2012 - Entergy Gulf States Louisiana (f) - 140,000 5.15% Series due February 2013 - Entergy Mississippi 100,000 100,000 5.40% Series due August 2013 - Entergy Arkansas 300,000 300,000 5.25% Series due August 2013 - Entergy New Orleans 70,000 70,000 5.09% Series due November 2014 - Entergy Louisiana 115,000 115,000 5.6% Series due December 2014 - Entergy Gulf States Louisiana (f) - 50,000 5.70% Series due June 2015 - Entergy Gulf States Louisiana (f) 200,000 200,000 5.25% Series due August 2015 - Entergy Gulf States Louisiana (f) 92,120 200,000 5.56% Series due September 2015 - Entergy Louisiana 100,000 100,000 5.92% Series due February 2016 - Entergy Mississippi 100,000 100,000 6.75% Series due October 2017 - Entergy New Orleans 25,000 25,000 5.4% Series due May 2018 - Entergy Arkansas 150,000 150,000 6.0% Series due May 2018 - Entergy Gulf States Louisiana 375,000 375,000 4.95% Series due June 2018 - Entergy Mississippi 95,000 95,000 5.0% Series due July 2018 - Entergy Arkansas 115,000 115,000 6.50% Series due September 2018 - Entergy Louisiana 300,000 300,000 7.125% Series due February 2019 - Entergy Texas 500,000 - 5.5% Series due April 2019 - Entergy Louisiana 100,000 100,000 6.64% Series due July 2019 - Entergy Mississippi 150,000 - 5.6% Series due September 2024 - Entergy New Orleans 34,097 34,430 5.59% Series due October 2024 - Entergy Gulf States Louisiana 300,000 - 5.40% Series due November 2024 - Entergy Louisiana 400,000 - 5.66% Series due February 2025 - Entergy Arkansas 175,000 175,000 5.65% Series due September 2029 - Entergy New Orleans 38,950 39,345 6.7% Series due April 2032 - Entergy Arkansas 100,000 100,000 7.6% Series due April 2032 - Entergy Louisiana 150,000 150,000 6.0% Series due Novem |
NOTE 6. PREFERRED EQUITY
NOTE 6. PREFERRED EQUITY | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
PREFERRED EQUITY | NOTE 6.PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans) The number of shares and units authorized and outstanding and dollar value of preferred stock, preferred membership interests, and minority interest for Entergy Corporation subsidiaries as of December 31, 2009 and 2008 are presented below.All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2009 2008 2009 2008 2009 2008 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-6.45% Series 3,413,500 3,413,500 3,413,500 3,413,500 $116,350 $116,350 Entergy Gulf States Louisiana, Series A 8.25 % 100,000 100,000 100,000 100,000 10,000 10,000 Entergy Louisiana, 6.95% Series (a) 1,000,000 1,000,000 840,000 840,000 84,000 84,000 Entergy Mississippi, 4.36%-6.25% Series 1,403,807 1,403,807 1,403,807 1,403,807 50,381 50,381 Entergy New Orleans, 4.36%-5.56% Series 197,798 197,798 197,798 197,798 19,780 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 6,115,105 6,115,105 5,955,105 5,955,105 280,511 280,511 Non-nuclear Wholesale Assets Business: Preferred Stock without sinking fund: Entergy Asset Management, 8.95% rate (b) 1,000,000 1,000,000 305,240 297,376 29,375 29,738 Other - - - - 1,457 780 Total Subsidiaries' Preferred Stock without sinking fund 7,115,105 7,115,105 6,260,345 6,252,481 $311,343 $311,029 (a) In 2007, Entergy Louisiana Holdings, an Entergy subsidiary, purchased 160,000 of these shares from the holders. (b) Upon the sale of Class B preferred shares in December 2009, Entergy Asset Management had issued and outstanding Class A and Class B preferred shares. The preferred stockholders' agreement provides that each December 31 either Entergy Asset Management or the preferred shareholders may request that the preferred dividend rate be reset.If Entergy Asset Management and the preferred shareholders are unable to agree on a dividend reset rate, a preferred shareholder can request that its shares be sold to a third party.If Entergy Asset Management is unable to sell the preferred shares within 75 days, the Class A preferred shareholders have the right to take control of the Entergy Asset Management board of directors for the purpose of liquidating the assets of Entergy Asset Management in order to repay the preferred shares and any accrued dividends. Upon the sale of Class B shares resulting from a failed rate r |
NOTE 7. COMMON EQUITY
NOTE 7. COMMON EQUITY | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
COMMON EQUITY | NOTE 7.COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Treasury Stock Treasury stock activity for Entergy for 2009, 2008, and 2007 is as follows: 2009 2008 2007 Treasury Treasury Treasury Shares Cost Shares Cost Shares Cost (In Thousands) (In Thousands) (In Thousands) Beginning Balance, January 1 58,815,518 $4,175,214 55,053,847 $3,734,865 45,506,311 $2,644,390 Repurchases 7,680,000 613,125 4,792,299 512,351 11,581,842 1,215,578 Issuances: Employee Stock-Based Compensation Plans (856,390) (60,846) (1,025,408) (71,636) (2,029,686) (124,801) Directors' Plan (4,548) (326) (5,220) (366) (4,620) (302) Ending Balance, December 31 65,634,580 $4,727,167 58,815,518 $4,175,214 55,053,847 $3,734,865 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors' Plan), two Equity Ownership Plans of Entergy Corporation and Subsidiaries, the Equity Awards Plan of Entergy Corporation and Subsidiaries, and certain other stock benefit plans.The Directors' Plan awards to non-employee directors a portion of their compensation in the form of a fixed number of shares of Entergy Corporation common stock. In January 2007, the Board approved a repurchase program under which Entergy is authorized to repurchase up to $1.5 billion of its common stock.In January 2008, the Board authorized an incremental $500 million share repurchase program to enable Entergy to consider opportunistic purchases in response to equity market conditions.Entergy completed both the $1.5 billion and $500 million programs in the third quarter 2009.In October 2009, the Board granted authority for an additional $750 million share repurchase program. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation or pertinent indentures and various other agreements relating to the long-term debt and preferred stock of certain of Entergy Corporation's subsidiaries restrict the payment of cash dividends or other distributions on their common and preferred stock.As of December 31, 2009, Entergy Arkansas and Entergy Mississippi had restricted retained earnings unavailable for distribution to Entergy Corporation of $461.6 million and $236 million, respectively.Entergy Corporation received dividend payments from subsidiaries totaling $417 million in 2009, $313 million in 2008, and $625 million in 2007. |
NOTE 8. COMMITMENTS AND CONTING
NOTE 8. COMMITMENTS AND CONTINGENCIES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 8.COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy and the Registrant Subsidiaries are involved in a number of legal, regulatory, and tax proceedings before various courts, regulatory commissions, and governmental agencies in the ordinary course of business.While management is unable to predict the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy's results of operations, cash flows, or financial condition.Entergy discusses regulatory proceedings in Note 2 to the financial statements and discusses tax proceedings in Note 3 to the financial statements. Vidalia Purchased Power Agreement Entergy Louisiana has an agreement extending through the year 2031 to purchase energy generated by a hydroelectric facility known as the Vidalia project.Entergy Louisiana made payments under the contract of approximately $215.6 million in 2009, $167.7 million in 2008, and $130.8 million in 2007.If the maximum percentage (94%) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $169.8 million in 2010, and a total of $2.81 billion for the years 2011 through 2031.Entergy Louisiana currently recovers the costs of the purchased energy through its fuel adjustment clause.In an LPSC-approved settlement related to tax benefits from the tax treatment of the Vidalia contract, Entergy Louisiana agreed to credit rates by $11 million each year for up to ten years, beginning in October 2002.In addition, in accordance with an LPSC settlement, Entergy Louisiana credited rates in August 2007 by $11.8million (including interest) as a result of a settlement with the IRS of the 2001 tax treatment of the Vidalia contract.The provisions of the settlement also provide that the LPSC shall not recognize or use Entergy Louisiana's use of the cash benefits from the tax treatment in setting any of Entergy Louisiana's rates.Therefore, to the extent Entergy Louisiana's use of the proceeds would ordinarily have reduced its rate base, no change in rate base shall be reflected for ratemaking purposes. Nuclear Insurance Third Party Liability Insurance The Price-Anderson Act requires that reactor licensees purchase insurance and participate in a secondary insurance pool that provides insurance coverage for the public in the event of a nuclear power plant accident.The costs of this insurance are borne by the nuclear power industry.Congress amended and renewed the Price-Anderson Act in 2005 for a term through 2025.The Price-Anderson Act requires nuclear power plants to show evidence of financial protection in the event of a nuclear accident.This protection must consist of two layers of coverage: 1. The primary level is private insurance underwritten by American Nuclear Insurers and provides public liability insurance coverage of $375 million.If this amount is not sufficient to cover claims arising from an accident, the second level, S |
NOTE 9. ASSET RETIREMENT OBLIGA
NOTE 9. ASSET RETIREMENT OBLIGATIONS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
ASSET RETIREMENT OBLIGATIONS | NOTE9.ASSET RETIREMENT OBLIGATIONS(Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require the recording of liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of those assets.For Entergy, substantially all of its asset retirement obligations consist of its liability for decommissioning its nuclear power plants.In addition, an insignificant amount of removal costs associated with non-nuclear power plants is also included in the decommissioning line item on the balance sheets. These liabilities are recorded at their fair values (which are the present values of the estimated future cash outflows) in the period in which they are incurred, with an accompanying addition to the recorded cost of the long-lived asset.The asset retirement obligation is accreted each year through a charge to expense, to reflect the time value of money for this present value obligation.The accretion will continue through the completion of the asset retirement activity.The amounts added to the carrying amounts of the long-lived assets will be depreciated over the useful lives of the assets.The application of accounting standards related to asset retirement obligations is earnings neutral to the rate-regulated business of the Registrant Subsidiaries. In accordance with ratemaking treatment and as required by regulatory accounting standards, the depreciation provisions for the Registrant Subsidiaries include a component for removal costs that are not asset retirement obligations under accounting standards.In accordance with regulatory accounting principles, the Registrant Subsidiaries have recorded regulatory assets (liabilities) in the following amounts to reflect their estimates of the difference between estimated incurred removal costs and estimated removal costs recovered in rates: December 31, 2009 2008 (In Millions) Entergy Arkansas ($7.3) $5.9 Entergy Gulf States Louisiana ($7.5) ($3.6) Entergy Louisiana ($21.7) ($43.5) Entergy Mississippi $44.5 $40.0 Entergy New Orleans $15.2 $15.4 Entergy Texas $7.2 $34.7 System Energy $13.9 $14.5 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2009 by Entergy were as follows: Liabilities as of December 31, 2008 Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2009 (In Millions) Utility: Entergy Arkansas $540.7 $34.6 ($8.9) $- $566.4 Entergy Gulf States Louisiana $222.9 $19.6 $78.7 $- $321.2 Entergy Louisiana $276.8 $21.4 $- $- $298.2 Entergy Mississippi $4.8 $0.3 $- $- $5.1 Entergy New Orleans $3.0 $0.2 $- $- $3.2 Entergy Texas $3.3 $0.1 $- |
NOTE 10. LEASES
NOTE 10. LEASES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
LEASES | NOTE 10.LEASES(Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2009, Entergy Corporation and subsidiaries had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities (excluding nuclear fuel leases and the Grand Gulf and Waterford 3 sale and leaseback transactions) with minimum lease payments as follows: Year Operating Leases Capital Leases (In Thousands) 2010 $95,392 $4,924 2011 79,043 4,924 2012 66,042 4,924 2013 58,279 4,924 2014 58,557 3,124 Years thereafter 172,752 43,480 Minimum lease payments 530,065 66,300 Less:Amount representing interest - 26,708 Present value of net minimum lease payments $530,065 $39,592 Total rental expenses for all leases (excluding nuclear fuel leases and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $71.6 million in 2009, $66.4 million in 2008, and $78.8 million in 2007. As of December 31, 2009, the Registrant Subsidiaries had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities (excluding nuclear fuel leases and the sale and leaseback transactions) with minimum lease payments as follows: Capital Leases Year Entergy Arkansas Entergy Mississippi (In Thousands) 2010 $237 $1,800 2011 237 1,800 2012 237 1,800 2013 237 1,800 2014 237 - Years thereafter 1,383 - Minimum lease payments 2,568 7,200 Less:Amount representing interest 1,204 782 Present value of net minimum lease payments $1,364 $6,418 Operating Leases Year Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2010 $20,983 $12,942 $8,961 $6,381 $729 $4,289 2011 21,053 11,273 8,115 4,104 521 4,036 2012 18,505 10,656 7,010 3,344 382 3,864 2013 17,090 10,001 6,018 3,009 366 3,786 2014 15,894 16,853 4,610 2,616 312 2,402 Years thereafter 27,096 61,007 5,639 9,066 743 1,724 Minimum lease payments $120,621 $122,732 $40,353 $28,520 $3,053 $20,101 Rental Expenses Year Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2009 $12.0 $11.6 $10.7 $5.3 $1.6 $9.9 $1.3 2008 $11.4 $11.6 $9.9 |
NOTE 11. RETIREMENT, OTHER POST
NOTE 11. RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS | NOTE 11.RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS(Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has seven qualified pension plans covering substantially all of its employees: "Entergy Corporation Retirement Plan for Non-Bargaining Employees," "Entergy Corporation Retirement Plan for Bargaining Employees," "Entergy Corporation Retirement Plan II for Non-Bargaining Employees," "Entergy Corporation Retirement Plan II for Bargaining Employees," "Entergy Corporation Retirement Plan III," "Entergy Corporation Retirement Plan IV for Non-Bargaining Employees," and "Entergy Corporation Retirement Plan IV for Bargaining Employees."The Registrant Subsidiaries participate in two of these plans: "Entergy Corporation Retirement Plan for Non-Bargaining Employees" and "Entergy Corporation Retirement Plan for Bargaining Employees."Except for the Entergy Corporation Retirement Plan III, the pension plans are noncontributory and provide pension benefits that are based on employees' credited service and compensation during the final years before retirement.The Entergy Corporation Retirement Plan III includes a mandatory employee contribution of 3% of earnings during the first 10 years of plan participation, and allows voluntary contributions from 1% to 10% of earnings for a limited group of employees. Theassetsofthesevenqualifiedpension plans are held in a mastertrustestablishedbyEntergy. Each pension plan maintains an undivided beneficial interest in each of the investment accounts of the Master Trust maintained by J. P. Morgan Chase Co. (the Trustee.)Use of the master trust permits the commingling of the trust assets of the pension plans of Entergy Corporation and its Registrant Subsidiaries for investment and administrative purposes.Although assets are commingled in the master trust,theTrusteemaintainssupportingrecordsforthepurposeof allocatingtheequityinnetearnings(loss)andthe administrative expensesoftheinvestment accounts to the various participating pension plans.TheTrustee determines the fair value of the fund and calculates a dailyearningsfactor, including realized and unrealized gains or losses, collectedandaccruedincome, and administrative expenses, and allocates earnings to each plan in the master trust on a pro rata basis. Further, within each pension plan, the record of each Registrant Subsidiarys beneficial interest in the plan assets is maintained by the plan's actuary and is updated quarterly.Assets for each Registrant Subsidiary are increased for investment income, contributions, and benefit payments. A plans investment income (i.e. interest and dividends, realized gains and losses and expense) is allocated to the Registrant Subsidiaries participating in that plan based on the value of assets for each Registrant Subsidiary at the beginning of the quarter adjusted for contributions and benefit payments made during the quarter. Entergy Corporation and its subsidiaries fund pension costs in accordance with contribution guidelines established by the |
NOTE 12. STOCK-BASED COMPENSATI
NOTE 12. STOCK-BASED COMPENSATION | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
STOCK-BASED COMPENSATION | NOTE 12.STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock options and long-term incentive and restricted liability awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans which are shareholder-approved stock-based compensation plans.The Equity Ownership Plan, as restated in February 2003 (2003 Plan), had 706,950 authorized shares remaining for long-term incentive and restricted liability awards as of December 31, 2009.Effective January 1, 2007, Entergy's shareholders approved the 2007 Equity Ownership and Long-Term Cash Incentive Plan (2007 Plan).The maximum aggregate number of common shares that can be issued from the 2007 Plan for stock-based awards is 7,000,000 with no more than 2,000,000 available for non-option grants.The 2007 Plan, which only applies to awards made on or after January1, 2007, will expire after 10 years.As of December 31, 2009, there were 2,569,926 authorized shares remaining for stock-based awards, including 2,000,000 for non-option grants. Stock Options Stock options are granted at exercise prices that equal the closing market price of Entergy Corporation common stock on the date of grant.Generally, stock options granted will become exercisable in equal amounts on each of the first three anniversaries of the date of grant.Unless they are forfeited previously under the terms of the grant, options expire ten years after the date of the grant if they are not exercised. The following table includes financial information for stock options for each of the years presented: 2009 2008 2007 (in Millions) Compensation expense included in Entergy's Consolidated Net Income $17.0 $17.0 $15.0 Tax benefit recognized in Entergy's Consolidated Net Income $6.0 $7.0 $6.0 Compensation cost capitalized as part of fixed assets and inventory $3.0 $3.0 $3.0 Entergy determines the fair value of the stock option grants by considering factors such as lack of marketability, stock retention requirements, and regulatory restrictions on exercisability in accordance with accounting standards.The stock option weighted-average assumptions used in determining the fair values are as follows: 2009 2008 2007 Stock price volatility 24.39% 18.9% 17.0% Expected term in years 5.33 4.64 4.59 Risk-free interest rate 2.22% 2.77% 4.85% Dividend yield 3.50% 2.96% 3.0% Dividend payment per share $3.00 $3.00 $2.16 Stock price volatility is calculated based upon the weekly public stock price volatility of Entergy Corporation common stock over the last four to five years. The expected term of the options is based upon historical option exercises and the weighted average life of options when exercised and the estimated weighted average life of all vested but unexercised options. In 2008, Entergy implemented stock ownership guidelines for its senior executive officers.These guidelines require an executive officer to own shares of Entergy common stock equal to a specified multiple of his or her salary.Unti |
NOTE 13. BUSINESS SEGMENT INFOR
NOTE 13. BUSINESS SEGMENT INFORMATION | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
BUSINESS SEGMENT INFORMATION | NOTE 13.BUSINESS SEGMENT INFORMATION(Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi,Entergy New Orleans, Entergy Texas, and System Energy) Entergy's reportable segments as of December 31, 2009 are Utility and Non-Utility Nuclear.Utility generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and provides natural gas utility service in portions of Louisiana.Non-Utility Nuclear owns and operates six nuclear power plants and is primarily focused on selling electric power produced by those plants to wholesale customers."All Other" includes the parent company, Entergy Corporation, and other business activity, including the non-nuclear wholesale assets business and earnings on the proceeds of sales of previously-owned businesses.As a result of the Entergy New Orleans bankruptcy filing, Entergy discontinued the consolidation of Entergy New Orleans retroactive to January 1, 2005, and reported Entergy New Orleans results under the equity method of accounting in the Utility segment in 2006.On May 7, 2007, the bankruptcy judge entered an order confirming Entergy New Orleans' plan of reorganization.With confirmation of the plan of reorganization, Entergy reconsolidated Entergy New Orleans in the second quarter 2007, retroactive to January 1, 2007. Entergy's segment financial information is as follows: 2009 Utility Non-Utility Nuclear* All Other* Eliminations Consolidated (In Thousands) Operating revenues $8,055,353 $2,555,254 $161,506 ($26,463) $10,745,650 Deprec., amort. decomm. $1,025,922 $240,747 $15,169 $- $1,281,838 Interest and dividend income $180,505 $170,033 $88,106 ($202,016) $236,628 Equity in loss of unconsolidated equity affiliates $1 $- ($7,794) $- ($7,793) Interest and other charges $462,206 $55,884 $180,931 ($128,577) $570,444 Income taxes (benefits) $388,682 $379,266 ($135,208) $- $632,740 Consolidated net income (loss) $708,905 $631,020 ($15,437) ($73,438) $1,251,050 Total assets $29,694,732 $10,590,809 ($294,277) ($2,626,667) $37,364,597 Investment in affiliates - at equity $200 $- $39,380 $- $39,580 Cash paid for long-lived asset additions $1,872,997 $654,003 $1,719 $- $2,528,719 2008 Utility Non-Utility Nuclear* All Other* Eliminations Consolidated (In Thousands) Operating revenues $10,318,630 $2,558,378 $241,715 ($24,967) $13,093,756 Deprec., amort. decomm. $984,651 $220,128 $15,490 $- $1,220,269 Interest and dividend income $122,657 $112,129 $116,830 ($153,744) $197,872 Equity in loss of unconsolidated equity affiliates ($3) $- ($11,681) $- ($11,684) Interest and other charges |
NOTE 14. EQUITY METHOD INVESTME
NOTE 14. EQUITY METHOD INVESTMENTS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
EQUITY METHOD INVESTMENTS | NOTE 14.EQUITY METHOD INVESTMENTS (Entergy Corporation) As of December 31, 2009, Entergy owns investments in the following companies that it accounts for under the equity method of accounting: Investment Ownership Description Entergy-Koch 50% partnership interest Entergy-Koch was in the energy commodity marketing and trading business and gas transportation and storage business until the fourth quarter 2004 when these businesses were sold.In December 2009, Entergy reorganized its investment in Entergy-Koch, received a $25.6 million cash distribution, and received a distribution of certain software owned by the joint venture. RS Cogen LLC 50% member interest Co-generation project that produces power and steam on an industrial and merchant basis in the Lake Charles, Louisiana area. Top Deer 50% member interest Wind-powered electric generation joint venture. Following is a reconciliation of Entergy's investments in equity affiliates: 2009 2008 2007 (In Thousands) Beginning of year $66,247 $78,992 $229,089 Entergy NewOrleans (a) - - (153,988) Income (loss) from the investments (7,793) (11,684) 3,176 Dispositions and other adjustments (18,874) (1,061) 715 End of year $39,580 $66,247 $78,992 (a) As a result of Entergy New Orleans' bankruptcy filing in September 2005, Entergy deconsolidated Entergy New Orleans and reflected Entergy New Orleans' financial results under the equity method of accounting retroactive to January 1, 2005.In May 2007, with confirmation of the plan of reorganization, Entergy reconsolidated Entergy New Orleans retroactive to January 1, 2007 and no longer accounts for Entergy New Orleans under the equity method of accounting.See Note 18 to the financial statements for further discussion of the bankruptcy proceeding. Related-party transactions and guarantees See Note 18 to the financial statements for a discussion of the Entergy New Orleans bankruptcy proceedings and activity between Entergy and Entergy New Orleans. Entergy Gulf States Louisiana purchased approximately $49.3 million, $82.5 million, and $68.4 million of electricity generated from Entergy's share of RS Cogen in 2009, 2008, and 2007, respectively.Entergy's operating transactions with its other equity method investees were not significant in 2009, 2008, or 2007. |
NOTE 15. ACQUISITIONS AND DISPO
NOTE 15. ACQUISITIONS AND DISPOSITIONS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
ACQUISITIONS AND DISPOSITIONS | NOTE 15.ACQUISITIONS AND DISPOSITIONS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, and Entergy Mississippi) Calcasieu In March 2008, Entergy Gulf States Louisiana purchased the Calcasieu Generating Facility, a 322 MW simple-cycle gas-fired power plant located near the city of Sulphur in southwestern Louisiana, for approximately $56million from a subsidiary of Dynegy, Inc.Entergy Gulf States Louisiana received the plant, materials and supplies, SO2 emission allowances, and related real estate in the transaction.The FERC and the LPSC approved the acquisition. Ouachita In September 2008, Entergy Arkansas purchased the Ouachita Plant, a 789 MW three-train gas-fired combined cycle generating turbine (CCGT) electric power plant located 20 miles south of the Arkansas state line near Sterlington, Louisiana, for approximately $210 million from a subsidiary of Cogentrix Energy, Inc.Entergy Arkansas received the plant, materials and supplies, and related real estate in the transaction.The FERC and the APSC approved the acquisition.The APSC also approved the recovery of the acquisition and ownership costs through a rate rider and the planned sale of one-third of the capacity and energy to Entergy Gulf States Louisiana. The LPSC also approved the purchase of one-third of the capacity and energy by Entergy Gulf States Louisiana, subject to certain conditions, including a study to determine the costs and benefits of Entergy Gulf States Louisiana exercising an option to purchase one-third of the plant (Unit 3) from Entergy Arkansas.In April 2009, Entergy Gulf States Louisiana made a filing with the LPSC seeking approval of Entergy Gulf States Louisiana exercising its option to convert its purchased power agreement into the ownership interest in Unit 3 and a one-third interest in the Ouachita common facilities.In September 2009 the LPSC, pursuant to an uncontested settlement, approved the acquisition and a cost recovery mechanism.Entergy Gulf States Louisiana purchased Unit 3 and a one-third interest in the Ouachita common facilities for $75 million in November 2009. Palisades In April 2007, Entergy's Non-Utility Nuclear business purchased the 798 MW Palisades nuclear energy plant located near South Haven, Michigan from Consumers Energy Company for a net cash payment of $336 million.Entergy received the plant, nuclear fuel, inventories, and other assets.The liability to decommission the plant, as well as related decommissioning trust funds, was also transferred to Entergy's Non-Utility Nuclear business.Entergy's Non-Utility Nuclear business executed a unit-contingent, 15-year purchased power agreement (PPA) with Consumers Energy for 100% of the plant's output, excluding any future uprates.Prices under the PPA range from $43.50/MWh in 2007 to $61.50/MWh in 2022, and the average price under the PPA is $51/MWh.In the first quarter 2007, the NRC renewed Palisades' operating license until 2031.As part of the transaction, Entergy's Non-Utility Nuclear business assumed responsibility for spent fuel at the decommissioned Big Rock Point nuclear plant, which is located near Charlevoix, Michigan. Palisades' financial res |
NOTE 16. RISK MANAGEMENT AND FA
NOTE 16. RISK MANAGEMENT AND FAIR VALUES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
RISK MANAGEMENT AND FAIR VALUES | NOTE 16.RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi,Entergy New Orleans, Entergy Texas, and System Energy) Market and Commodity Risks In the normal course of business, Entergy is exposed to a number of market and commodity risks.Market risk is the potential loss that Entergy may incur as a result of changes in the market or fair value of a particular instrument or commodity.All financial and commodity-related instruments, including derivatives, are subject to market risk.Entergy is subject to a number of commodity and market risks, including: Type of Risk Affected Businesses Power price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assets Fuel price risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assets Foreign currency exchange rate risk Utility, Non-Utility Nuclear, Non-nuclear wholesale assets Equity price and interest rate risk - investments Utility, Non-Utility Nuclear Entergy manages a portion of these risks using derivative instruments, some of which are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sales transactions due to their physical settlement provisions.Normal purchase/normal sale risk management tools include power purchase and sales agreements and fuel purchase agreements, capacity contracts, and tolling agreements.Financially-settled cash flow hedges can include natural gas and electricity futures, forwards, swaps, and options; foreign currency forwards; and interest rate swaps.Entergy enters into derivatives only to manage natural risks inherent in its physical or financial assets or liabilities. Entergy manages fuel price risk for its Louisiana jurisdictions (Entergy Gulf States Louisiana, Entergy Louisiana, and Entergy New Orleans) and Entergy Mississippi primarily through the purchase of short-term natural gas swaps.These swaps are marked-to-market with offsetting regulatory assets or liabilities.The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation and projected winter purchases for gas distribution at Entergy Gulf States Louisiana and Entergy New Orleans. Entergy's exposure to market risk is determined by a number of factors, including the size, term, composition, and diversification of positions held, as well as market volatility and liquidity.For instruments such as options, the time period during which the option may be exercised and the relationship between the current market price of the underlying instrument and the option's contractual strike or exercise price also affects the level of market risk.A significant factor influencing the overall level of market risk to which Entergy is exposed is its use of hedging techniques to mitigate such risk.Entergy manages market risk by actively monitoring compliance with stated risk management policies as well as monitoring the effectiveness of its hedging policies and strategies.Entergy's risk management policies limit the amount of total n |
NOTE 17. DECOMMISSIONING TRUST
NOTE 17. DECOMMISSIONING TRUST FUNDS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
DECOMMISSIONING TRUST FUNDS | NOTE 17.DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, and System Energy) Entergy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts.The NRC requires Entergy to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades (NYPA currently retains the decommissioning trusts and liabilities for Indian Point 3 and FitzPatrick).The funds are invested primarily in equity securities; fixed-rate, fixed-income securities; and cash and cash equivalents. Entergy records decommissioning trust funds on the balance sheet at their fair value.Because of the ability of the Registrant Subsidiaries to recover decommissioning costs in rates and in accordance with the regulatory treatment for decommissioning trust funds, the Registrant Subsidiaries have recorded an offsetting amount of unrealized gains/(losses) on investment securities in other regulatory liabilities/assets.For the nonregulated portion of River Bend, Entergy Gulf States Louisiana has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits.Decommissioning trust funds for Pilgrim, Indian Point 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment.Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders' equity because these assets are classified as available for sale.Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders' equity unless the unrealized loss is other than temporary and therefore recorded in earnings.Effective January 1, 2009, Entergy adopted an accounting pronouncement providing guidance regarding recognition and presentation of other-than-temporary impairments related to investments in debt securities. The assessment of whether an investment in a debt security has suffered an other-than-temporary impairment is based on whether Entergy has the intent to sell or more likely than not will be required to sell the debt security before recovery of its amortized costs. Further, if Entergy does not expect to recover the entire amortized cost basis of the debt security, an other-than-temporary impairment is considered to have occurred and it is measured by the present value of cash flows expected to be collected less the amortized cost basis (credit loss).The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time.Entergy's trusts are managed by third parties who operate in accordance with agreements that define |
NOTE 18. ENTERGY NEW ORLEANS BA
NOTE 18. ENTERGY NEW ORLEANS BANKRUPTCY PROCEEDING | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
ENTERGY NEW ORLEANS BANKRUPTCY PROCEEDING | NOTE 18.ENTERGY NEW ORLEANS BANKRUPTCY PROCEEDING (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) As a result of the effects of Hurricane Katrina and the effect of extensive flooding that resulted from levee breaks in and around the New Orleans area, on September 23, 2005, Entergy New Orleans filed a voluntary petition in bankruptcy court seeking reorganization relief under Chapter 11 of the U.S. Bankruptcy Code.On May7, 2007, the bankruptcy judge entered an order confirming Entergy New Orleans' plan of reorganization.With the receipt of CDBG funds, and the agreement on insurance recovery with one of its excess insurers, Entergy New Orleans waived the conditions precedent in its plan of reorganization and the plan became effective on May8, 2007.Following are significant terms in Entergy New Orleans' plan of reorganization: Entergy New Orleans paid in full, in cash, the allowed third-party prepetition accounts payable (approximately $29 million, including interest).Entergy New Orleans paid interest from September 23, 2005 at the Louisiana judicial rate of interest for 2005 (6%) and 2006 (8%), and at the Louisiana judicial rate of interest (9.5%) plus 1% for 2007 through the date of payment. Entergy New Orleans issued notes due in three years in satisfaction of its affiliate prepetition accounts payable (approximately $74 million, including interest), including its indebtedness to the Entergy System money pool.Entergy New Orleans included in the principal amount of the notes accrued interest from September 23, 2005 at the Louisiana judicial rate of interest for 2005 (6%) and 2006 (8%), and at the Louisiana judicial rate of interest plus 1% for 2007 through the date of issuance of the notes.Entergy New Orleans will pay interest on the notes from their date of issuance at the Louisiana judicial rate of interest plus 1%.The Louisiana judicial rate of interest is 9.5% for 2007, 8.5% for 2008, 5.5% for 2009, and 3.5% for 2010. Entergy New Orleans repaid in full, in cash, the outstanding borrowings under the debtor-in-possession credit agreement between Entergy New Orleans and Entergy Corporation (approximately $67 million). Entergy New Orleans' first mortgage bonds remain outstanding with their stated maturity dates and interest terms.Pursuant to an agreement with its first mortgage bondholders, Entergy New Orleans paid the first mortgage bondholders an amount equal to the one year of interest from the bankruptcy petition date that the bondholders had waived previously in the bankruptcy proceeding (approximately $12 million). Entergy New Orleans' preferred stock will remain outstanding on its stated dividend terms, and Entergy New Orleans paid its unpaid preferred dividends in arrears (approximately $1 million). Litigation claims were generally unaltered, and will generally proceed as if Entergy New Orleans had not filed for bankruptcy protection, with exceptions for certain claims. (Entergy Corporation) With confirmation of the plan of reorganization, Entergy reconsolidated Entergy |
NOTE 19. TRANSACTIONS WITH AFFI
NOTE 19. TRANSACTIONS WITH AFFILIATES | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
TRANSACTIONS WITH AFFILIATES | NOTE 19.TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Each Registrant Subsidiary purchases electricity from or sells electricity to the other Registrant Subsidiaries, or both, under rate schedules filed with FERC.The Registrant Subsidiaries purchase fuel from System Fuels; receive management, technical, advisory, operating, and administrative services from Entergy Services; and receive management, technical, and operating services from Entergy Operations.These transactions are on an "at cost" basis.In addition, Entergy Power sells electricity to Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans.RS Cogen sells electricity to Entergy Gulf States Louisiana. As described in Note 1 to the financial statements, all of System Energy's operating revenues consist of billings to Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans. Additionally, as described in Note 4 to the financial statements, the Registrant Subsidiaries participate in Entergy's money pool and earn interest income from the money pool.Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans also receive interest income from System Fuels, Inc. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2009 $354.5 $475.5 $260.2 $53.4 $87.6 $295.0 $554.0 2008 $419.1 $644.1 $257.8 $99.7 $161.0 $438.7 $529.0 2007 $302.7 $234.3 $317.4 $145.9 $102.9 $398.8 $553.2 Intercompany Operating Expenses Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) (1) (2) (3) (4) 2009 $844.5 $547.6 $496.6 $353.1 $212.6 $417.6 $136.3 2008 $723.4 $908.8 $587.5 $385.1 $213.1 $553.7 $118.5 2007 $766.0 $619.2 $521.9 $369.1 $222.2 $483.0 $115.2 (1) Includes $0.1 million in 2009, $0.5 million in 2008, and $4.8 million in 2007 for power purchased from Entergy Power. (2) Includes power purchased from RS Cogen of $49.3 million in 2009, $82.5 million in 2008, $68.4 million in 2007. (3) Includes power purchased from Entergy Power of $11.6 million in 2009 and $10.5 million in 2008. (4) Includes power purchased from Entergy Power of $11.3 million in 2009 and $10.3 million in 2008. Intercompany Interest Income Entergy Arkansas Entergy Gulf States Louisiana Entergy Loui |
NOTE 20. QUARTERLY FINANCIAL DA
NOTE 20. QUARTERLY FINANCIAL DATA (UNAUDITED) | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
QUARTERLY FINANCIAL DATA | NOTE 20.QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Gulf States Louisiana, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2009 and 2008 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income Net Income (In Thousands) 2009: First Quarter $2,789,112 $506,527 $235,335 Second Quarter $2,520,789 $474,496 $226,813 Third Quarter $2,937,095 $800,304 $455,169 Fourth Quarter $2,498,654 $503,119 $313,775 2008: First Quarter $2,864,734 $606,233 $308,749 Second Quarter $3,264,271 $568,109 $270,954 Third Quarter $3,963,884 $752,092 $470,289 Fourth Quarter $3,000,867 $356,733 $170,574 Earnings per Average Common Share 2009 2008 Basic Diluted Basic Diluted First Quarter $1.22 $1.20 $1.60 $1.56 Second Quarter $1.16 $1.14 $1.42 $1.37 Third Quarter $2.35 $2.32 $2.47 $2.41 Fourth Quarter $1.66 $1.64 $0.90 $0.89 The business of the Utility operating companies is subject to seasonal fluctuations with the peak periods occurring during the third quarter.Operating results for the Registrant Subsidiaries for the four quarters of 2009 and 2008 were: Operating Revenue Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2009: First Quarter $535,994 $488,905 $529,257 $261,705 $171,094 $413,474 $127,372 Second Quarter $518,009 $441,263 $527,156 $290,615 $137,137 $377,319 $130,387 Third Quarter $649,395 $486,772 $624,829 $356,545 $174,071 $399,496 $148,789 Fourth Quarter $507,865 $427,446 $502,344 $268,439 $158,120 $373,534 $147,459 2008: First Quarter $499,374 $558,564 $564,744 $294,850 $191,355 $397,042 $114,372 Second Quarter $580,462 $702,536 $753,778 $351,982 $227,508 $565,349 $128,366 Third Quarter $711,835 $856,882 $1,021,588 $491,113 $215,603 $621,321 $142,045 Fourth Quarter $536,678 $615,383 $711,184 $324,237 $179,917 $428,546 $144,215 Operating Income (Loss) Entergy Arkansas Entergy Gulf States Louisiana Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2009: First Quarter $50,055 $56,825 $41,377 $18,64 |
SCHEDULE II - VALUATION AND QUA
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Schedule to Financial Statements [Abstract] | |
VALUATION AND QUALIFYING ACCOUNTS | ENTERGY CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS Years Ended December 31, 2009, 2008, and 2007 (In Thousands) Column A Column B Column C Column D Column E Other Additions Changes Charged to Deductions Balance at Income or from Balance Beginning Regulatory Provisions at End Description of Period Assets (1) of Period Year ended December 31, 2009 Accumulated Provisions Deducted from Assets-- Doubtful Accounts $ 25,610 $ 2,021 $ - $ 27,631 Accumulated Provisions Not Deducted from Assets (2) $ 147,452 $ 52,050 $ 58,187 $ 141,315 Year ended December 31, 2008 Accumulated Provisions Deducted from Assets-- Doubtful Accounts $ 25,789 $ (179 ) $ - $ 25,610 Accumulated Provisions Not Deducted from Assets (2) $ 133,406 $ 56,826 $ 42,780 $ 147,452 Year ended December 31, 2007 Accumulated Provisions Deducted from Assets-- Doubtful Accounts $ 29,911 $ (4,122 ) $ - $ 25,789 Accumulated Provisions Not Deducted from Assets (2) $ 97,287 $ 63,262 $ 27,143 $ 133,406 ___________ Notes: (1) Deductions from provisions represent losses or expenses for which the respective provisions were created. In the case of the provision for doubtful accounts, such deductions are reduced by recoveries of amounts previously written off. (2) Accumulated provisions not deducted from assets includes provisions for property insurance, injuries and damages, environmental, and pension related items. |
Document Information
Document Information | |
12 Months Ended
Dec. 31, 2009 USD / shares | |
Document Information [Text Block] | |
Document Type | 10-K |
Amendment Flag | false |
Document Period End Date | 2009-12-31 |
Entity Information
Entity Information (USD $) | |||
12 Months Ended
Dec. 31, 2009 | Jan. 29, 2010
| Jun. 30, 2009
| |
Entity [Text Block] | |||
Entity Registrant Name | ENTERGY CORP /DE/ | ||
Entity Central Index Key | 0000065984 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $15,200,000,000 | ||
Entity Common Stock Shares Outstanding | 189,198,163 |