Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 31, 2018 | Jun. 30, 2017 | |
Entity Registrant Name | ENTERGY CORP /DE/ | ||
Entity Central Index Key | 65,984 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
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 | $ 13.8 | ||
Entity Common Stock, Shares Outstanding | 180,770,383 | ||
Entergy Arkansas [Member] | |||
Entity Registrant Name | Entergy Arkansas, Inc. | ||
Entity Central Index Key | 7,323 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entergy Louisiana [Member] | |||
Entity Registrant Name | ENTERGY LOUISIANA, LLC | ||
Entity Central Index Key | 1,348,952 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entergy Mississippi [Member] | |||
Entity Registrant Name | ENTERGY MISSISSIPPI, INC. | ||
Entity Central Index Key | 66,901 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entergy New Orleans [Member] | |||
Entity Registrant Name | ENTERGY NEW ORLEANS, LLC | ||
Entity Central Index Key | 71,508 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entergy Texas [Member] | |||
Entity Registrant Name | ENTERGY TEXAS, INC. | ||
Entity Central Index Key | 1,427,437 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer | ||
System Energy [Member] | |||
Entity Registrant Name | SYSTEM ENERGY RESOURCES, Inc. | ||
Entity Central Index Key | 202,584 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
OPERATING REVENUES | ||||
Electric | $ 9,278,895 | $ 8,866,659 | $ 9,308,678 | |
Natural gas | 138,856 | 129,348 | 142,746 | |
Competitive businesses | 1,656,730 | 1,849,638 | 2,061,827 | |
TOTAL | 11,074,481 | 10,845,645 | 11,513,251 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 1,991,589 | 1,809,200 | 2,452,171 | |
Purchased power | 1,427,950 | 1,220,527 | 1,390,805 | |
Nuclear refueling outage expenses | 168,151 | 208,678 | 251,316 | |
Operation and maintenance expense | 3,423,689 | 3,296,711 | 3,354,981 | |
Asset Write-Offs, Impairments, And Related Charges | 538,372 | 2,835,637 | 2,104,906 | |
Decommissioning | 405,685 | 327,425 | 280,272 | |
Taxes other than income taxes | 617,556 | 592,502 | 619,422 | |
Depreciation and amortization | 1,389,978 | 1,347,187 | 1,337,276 | |
Other regulatory charges (credits) - net | (131,901) | 94,243 | 175,304 | |
TOTAL | 9,831,069 | 11,732,110 | 11,966,453 | |
Gain on sale of asset | 16,270 | 0 | 154,037 | |
OPERATING INCOME (LOSS) | 1,259,682 | (886,465) | (299,165) | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 95,088 | 67,563 | 51,908 | |
Investment Income, Net | 288,197 | 145,127 | 187,062 | |
Miscellaneous - net | (12,701) | (41,617) | (95,997) | |
TOTAL | 370,584 | 171,073 | 142,973 | |
INTEREST EXPENSE | ||||
Interest expense | 707,212 | 700,545 | 670,096 | |
Allowance for borrowed funds used during construction | (44,869) | (34,175) | (26,627) | |
TOTAL | 662,343 | 666,370 | 643,469 | |
INCOME (LOSS) BEFORE INCOME TAXES | 967,923 | (1,381,762) | (799,661) | |
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) | |
CONSOLIDATED NET INCOME (LOSS) | [1] | 425,353 | (564,503) | (156,734) |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 13,741 | 19,115 | 19,828 | |
NET INCOME | $ 411,612 | $ (583,618) | $ (176,562) | |
Earnings (loss) per average common share: | ||||
Basic (in usd per share) | $ 2.29 | $ (3.26) | $ (0.99) | |
Diluted (in usd per share) | $ 2.28 | $ (3.26) | $ (0.99) | |
Basic average number of common shares outstanding | 179,671,797 | 178,885,660 | 179,176,356 | |
Diluted average number of common shares outstanding | 180,535,893 | 178,885,660 | 179,176,356 | |
Entergy Arkansas [Member] | ||||
OPERATING REVENUES | ||||
Electric | $ 2,139,919 | $ 2,086,608 | $ 2,253,564 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 402,777 | 325,036 | 535,919 | |
Purchased power | 230,652 | 233,350 | 380,081 | |
Nuclear refueling outage expenses | 83,968 | 56,650 | 51,411 | |
Operation and maintenance expense | 707,825 | 706,573 | 734,118 | |
Decommissioning | 56,860 | 53,610 | 50,414 | |
Taxes other than income taxes | 103,662 | 93,109 | 99,926 | |
Depreciation and amortization | 277,146 | 264,215 | 246,897 | |
Other regulatory charges (credits) - net | (16,074) | 7,737 | (24,608) | |
TOTAL | 1,846,816 | 1,740,280 | 2,074,158 | |
OPERATING INCOME (LOSS) | 293,103 | 346,328 | 179,406 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 18,452 | 17,099 | 14,227 | |
Investment Income, Net | 35,882 | 19,087 | 22,382 | |
Miscellaneous - net | (299) | (1,446) | (3,385) | |
TOTAL | 54,035 | 34,740 | 33,224 | |
INTEREST EXPENSE | ||||
Interest expense | 122,075 | 115,311 | 105,622 | |
Allowance for borrowed funds used during construction | (8,585) | (9,228) | (7,805) | |
TOTAL | 113,490 | 106,083 | 97,817 | |
INCOME (LOSS) BEFORE INCOME TAXES | 233,648 | 274,985 | 114,813 | |
Income Tax Expense (Benefit) | 93,804 | 107,773 | 40,541 | |
CONSOLIDATED NET INCOME (LOSS) | 139,844 | 167,212 | 74,272 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 1,428 | 5,270 | 6,873 | |
NET INCOME | 138,416 | 161,942 | 67,399 | |
Entergy Louisiana [Member] | ||||
OPERATING REVENUES | ||||
Electric | 4,246,020 | 4,126,343 | 4,361,524 | |
Natural gas | 54,530 | 50,705 | 55,622 | |
TOTAL | 4,300,550 | 4,177,048 | 4,417,146 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 912,060 | 804,433 | 850,869 | |
Purchased power | 980,070 | 890,058 | 1,129,910 | |
Nuclear refueling outage expenses | 52,074 | 51,361 | 44,480 | |
Operation and maintenance expense | 969,400 | 923,779 | 997,546 | |
Decommissioning | 49,457 | 46,944 | 43,445 | |
Taxes other than income taxes | 175,359 | 165,665 | 167,966 | |
Depreciation and amortization | 467,369 | 451,290 | 437,036 | |
Other regulatory charges (credits) - net | (152,080) | 44,131 | 27,562 | |
TOTAL | 3,453,709 | 3,377,661 | 3,698,814 | |
OPERATING INCOME (LOSS) | 846,841 | 799,387 | 718,332 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 51,485 | 27,925 | 19,192 | |
Investment Income, Net | 164,550 | 154,778 | 150,168 | |
Miscellaneous - net | (11,960) | (11,597) | (13,190) | |
TOTAL | 204,075 | 171,106 | 156,170 | |
INTEREST EXPENSE | ||||
Interest expense | 275,185 | 273,283 | 259,894 | |
Allowance for borrowed funds used during construction | (25,914) | (14,571) | (10,702) | |
TOTAL | 249,271 | 258,712 | 249,192 | |
INCOME (LOSS) BEFORE INCOME TAXES | 801,645 | 711,781 | 625,310 | |
Income Tax Expense (Benefit) | 485,298 | 89,734 | 178,671 | |
CONSOLIDATED NET INCOME (LOSS) | 316,347 | 622,047 | 446,639 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 0 | 5,737 | |
NET INCOME | 316,347 | 622,047 | 440,902 | |
Entergy Mississippi [Member] | ||||
OPERATING REVENUES | ||||
Electric | 1,198,229 | 1,094,649 | 1,396,985 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 185,816 | 95,090 | 291,666 | |
Purchased power | 328,463 | 297,902 | 389,950 | |
Operation and maintenance expense | 243,480 | 250,443 | 261,255 | |
Taxes other than income taxes | 95,051 | 94,482 | 94,152 | |
Depreciation and amortization | 143,479 | 136,214 | 129,029 | |
Other regulatory charges (credits) - net | (19,134) | (3,721) | 19,027 | |
TOTAL | 977,155 | 870,410 | 1,185,079 | |
OPERATING INCOME (LOSS) | 221,074 | 224,239 | 211,906 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 9,667 | 5,801 | 3,095 | |
Investment Income, Net | 85 | 656 | 195 | |
Miscellaneous - net | 510 | (3,531) | (4,418) | |
TOTAL | 10,262 | 2,926 | (1,128) | |
INTEREST EXPENSE | ||||
Interest expense | 51,260 | 57,114 | 57,842 | |
Allowance for borrowed funds used during construction | (3,875) | (2,987) | (1,644) | |
TOTAL | 47,385 | 54,127 | 56,198 | |
INCOME (LOSS) BEFORE INCOME TAXES | 183,951 | 173,038 | 154,580 | |
Income Tax Expense (Benefit) | 73,919 | 63,854 | 61,872 | |
CONSOLIDATED NET INCOME (LOSS) | 110,032 | 109,184 | 92,708 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 953 | 2,443 | 2,828 | |
NET INCOME | 109,079 | 106,741 | 89,880 | |
Entergy New Orleans [Member] | ||||
OPERATING REVENUES | ||||
Electric | 631,744 | 586,820 | 584,322 | |
Natural gas | 84,326 | 78,643 | 87,124 | |
TOTAL | 716,070 | 665,463 | 671,446 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 111,082 | 40,489 | 96,307 | |
Purchased power | 282,178 | 299,551 | 277,851 | |
Operation and maintenance expense | 109,270 | 117,471 | 119,087 | |
Taxes other than income taxes | 54,590 | 48,078 | 46,660 | |
Depreciation and amortization | 52,945 | 51,737 | 43,205 | |
Other regulatory charges (credits) - net | 10,889 | 8,258 | 3,366 | |
TOTAL | 620,954 | 565,584 | 586,476 | |
OPERATING INCOME (LOSS) | 95,116 | 99,879 | 84,970 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 2,418 | 1,178 | 1,404 | |
Investment Income, Net | 707 | 256 | 73 | |
Miscellaneous - net | 24 | (3,144) | 339 | |
TOTAL | 3,149 | (1,710) | 1,816 | |
INTEREST EXPENSE | ||||
Interest expense | 21,281 | 21,061 | 17,312 | |
Allowance for borrowed funds used during construction | (847) | (446) | (641) | |
TOTAL | 20,434 | 20,615 | 16,671 | |
INCOME (LOSS) BEFORE INCOME TAXES | 77,831 | 77,554 | 70,115 | |
Income Tax Expense (Benefit) | 33,278 | 28,705 | 25,190 | |
CONSOLIDATED NET INCOME (LOSS) | 44,553 | 48,849 | 44,925 | |
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 841 | 965 | 965 | |
NET INCOME | 43,712 | 47,884 | 43,960 | |
Entergy Texas [Member] | ||||
OPERATING REVENUES | ||||
Electric | 1,544,893 | 1,615,619 | 1,707,203 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 225,517 | 271,968 | 277,810 | |
Purchased power | 610,279 | 616,597 | 709,947 | |
Operation and maintenance expense | 230,616 | 220,566 | 254,731 | |
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 23,472 | |
Taxes other than income taxes | 79,254 | 70,973 | 72,945 | |
Depreciation and amortization | 117,520 | 107,026 | 102,410 | |
Other regulatory charges (credits) - net | 82,328 | 82,879 | 82,243 | |
TOTAL | 1,345,514 | 1,370,009 | 1,523,558 | |
OPERATING INCOME (LOSS) | 199,379 | 245,610 | 183,645 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 6,722 | 7,617 | 5,678 | |
Investment Income, Net | 981 | 987 | 684 | |
Miscellaneous - net | 193 | (746) | (798) | |
TOTAL | 7,896 | 7,858 | 5,564 | |
INTEREST EXPENSE | ||||
Interest expense | 86,719 | 87,776 | 86,024 | |
Allowance for borrowed funds used during construction | (4,098) | (4,943) | (3,690) | |
TOTAL | 82,621 | 82,833 | 82,334 | |
INCOME (LOSS) BEFORE INCOME TAXES | 124,654 | 170,635 | 106,875 | |
Income Tax Expense (Benefit) | 48,481 | 63,097 | 37,250 | |
CONSOLIDATED NET INCOME (LOSS) | 76,173 | 107,538 | 69,625 | |
System Energy [Member] | ||||
OPERATING REVENUES | ||||
Electric | 633,458 | 548,291 | 632,405 | |
Operation and Maintenance: | ||||
Fuel, fuel-related expenses, and gas purchased for resale | 71,700 | 27,416 | 89,598 | |
Nuclear refueling outage expenses | 17,968 | 19,512 | 21,654 | |
Operation and maintenance expense | 213,534 | 153,064 | 156,552 | |
Decommissioning | 43,347 | 50,797 | 47,993 | |
Taxes other than income taxes | 26,180 | 25,195 | 27,281 | |
Depreciation and amortization | 137,767 | 136,195 | 143,133 | |
Other regulatory charges (credits) - net | (37,831) | (45,041) | (39,434) | |
TOTAL | 472,665 | 367,138 | 446,777 | |
OPERATING INCOME (LOSS) | 160,793 | 181,153 | 185,628 | |
OTHER INCOME | ||||
Allowance for equity funds used during construction | 6,345 | 7,944 | 8,494 | |
Investment Income, Net | 17,538 | 14,793 | 14,437 | |
Miscellaneous - net | (521) | (556) | (876) | |
TOTAL | 23,362 | 22,181 | 22,055 | |
INTEREST EXPENSE | ||||
Interest expense | 37,141 | 37,529 | 45,532 | |
Allowance for borrowed funds used during construction | (1,551) | (2,000) | (2,244) | |
TOTAL | 35,590 | 35,529 | 43,288 | |
INCOME (LOSS) BEFORE INCOME TAXES | 148,565 | 167,805 | 164,395 | |
Income Tax Expense (Benefit) | 69,969 | 71,061 | 53,077 | |
CONSOLIDATED NET INCOME (LOSS) | $ 78,596 | $ 96,744 | $ 111,318 | |
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net income | [1] | $ 425,353 | $ (564,503) | $ (156,734) |
Other comprehensive income (loss) | ||||
Cash flow hedges net unrealized gain (loss) | (41,470) | (101,977) | 7,852 | |
Pension and other postretirement liabilities | (61,653) | (2,842) | 103,185 | |
Net unrealized investment gains | 115,311 | 62,177 | (59,138) | |
Foreign currency translation | (748) | (1,280) | (641) | |
Net other comprehensive income (loss) for the period | 11,440 | (43,922) | 51,258 | |
Total comprehensive income | 436,793 | (608,425) | (105,476) | |
Preferred dividend requirements of subsidiaries | [1] | 13,741 | 19,115 | 19,828 |
Comprehensive Income Attributable to Entergy Corporation | 423,052 | (627,540) | (125,304) | |
Entergy Louisiana [Member] | ||||
Net income | 316,347 | 622,047 | 446,639 | |
Other comprehensive income (loss) | ||||
Pension and other postretirement liabilities | 2,042 | 7,970 | 22,811 | |
Net other comprehensive income (loss) for the period | 2,042 | 7,970 | 22,811 | |
Total comprehensive income | $ 318,389 | $ 630,017 | 469,450 | |
Preferred dividend requirements of subsidiaries | $ 5,737 | |||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Com4
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flow hedges net unrealized gain (loss), tax expense (benefit) | $ (22,570) | $ (55,298) | $ 3,752 |
Pension and other postretirement liabilities, tax expense | (4,057) | (3,952) | 61,576 |
Net unrealized investment gains, tax expense | 80,069 | 57,277 | (45,904) |
Foreign currency translation, tax expense | (403) | (689) | (345) |
Entergy Louisiana [Member] | |||
Pension and other postretirement liabilities, tax expense | $ 234 | $ 5,034 | $ 14,316 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | [1] | $ 425,353 | $ (564,503) | $ (156,734) |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 2,078,578 | 2,123,291 | 2,117,236 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 529,053 | (836,257) | (820,350) | |
Asset Write-Offs, Impairments, And Related Charges | 357,251 | 2,835,637 | 2,104,906 | |
Gain on sale of asset | (16,270) | 0 | (154,037) | |
Changes in working capital: | ||||
Receivables | (97,637) | (96,975) | 38,152 | |
Fuel inventory | (3,043) | 38,210 | (12,376) | |
Accounts payable | 101,802 | 174,421 | (135,211) | |
Prepaid taxes and taxes accrued | 33,853 | (28,963) | 81,969 | |
Interest accrued | 742 | (7,335) | (11,445) | |
Deferred fuel costs | 56,290 | (241,896) | 298,725 | |
Other working capital accounts | (4,331) | 31,197 | (113,701) | |
Changes in provisions for estimated losses | (3,279) | 20,905 | 42,566 | |
Increase (Decrease) in Other Regulatory Assets | (595,504) | 48,469 | (262,317) | |
Increase (Decrease) in Regulatory Liabilities | 2,915,795 | 158,031 | 61,241 | |
Deferred tax rate change recognized as regulatory liability/asset | (3,665,498) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (130,686) | (136,919) | (446,418) | |
Other | (549,977) | (421,676) | 134,344 | |
Net cash flow provided by operating activities | 2,623,500 | 2,998,699 | 3,291,184 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (3,607,532) | (2,780,222) | (2,500,860) | |
Allowance for equity funds used during construction | 96,000 | 68,345 | 53,635 | |
Nuclear fuel purchases | (377,324) | (314,706) | (493,604) | |
Payment for purchase of plant or assets | (16,762) | (949,329) | 0 | |
Proceeds from sale of assets | 100,000 | 0 | 487,406 | |
NYPA value sharing payment | 0 | 0 | (70,790) | |
Payments To Storm Reserve Escrow Account | (2,878) | (1,544) | (69,163) | |
Receipts from storm reserve escrow account | 11,323 | 0 | 5,916 | |
Changes in securitization account | 1,323 | 4,007 | (5,806) | |
Decrease in other investments | 1,078 | 9,055 | 571 | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 25,493 | 169,085 | 18,296 | |
Proceeds from nuclear decommissioning trust fund sales | 3,162,747 | 2,408,920 | 2,492,176 | |
Investment in nuclear decommissioning trust funds | (3,260,674) | (2,484,627) | (2,550,958) | |
Proceeds from insurance | 26,157 | 20,968 | 24,399 | |
Net cash flow used in investing activities | (3,841,049) | (3,850,048) | (2,608,782) | |
Proceeds from the issuance of: | ||||
Long-term debt | 1,809,390 | 6,800,558 | 3,502,189 | |
Preferred stock of subsidiary | 14,399 | 0 | 107,426 | |
Common stock and treasury stock | 80,729 | 33,114 | 24,366 | |
Retirement of long-term debt | (1,585,681) | (5,311,324) | (3,461,518) | |
Repurchase of common stock | 0 | 0 | (99,807) | |
Payments for Repurchase of Preferred Stock and Preference Stock | (20,599) | (115,283) | (94,285) | |
Changes in credit borrowings and commercial paper - net | 1,163,296 | (79,337) | (104,047) | |
Dividends paid: | ||||
Common stock | (628,885) | (611,835) | (598,897) | |
Preferred stock | (13,940) | (20,789) | (19,758) | |
Other | (7,731) | (6,872) | (9,136) | |
Net cash flow provided by (used in) financing activities | 810,978 | 688,232 | (753,467) | |
Net increase (decrease) in cash and cash equivalents | (406,571) | (163,117) | (71,065) | |
Cash and cash equivalents at beginning of period | 1,187,844 | 1,350,961 | 1,422,026 | |
Cash and cash equivalents at end of period | 781,273 | 1,187,844 | 1,350,961 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 678,371 | 746,779 | 663,630 | |
Income taxes | (13,375) | 95,317 | 103,589 | |
Entergy Arkansas [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 139,844 | 167,212 | 74,272 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 427,394 | 414,933 | 400,156 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 67,711 | 201,219 | (4,330) | |
Changes in working capital: | ||||
Receivables | (23,397) | (39,118) | 20,813 | |
Fuel inventory | 3,402 | 29,929 | (11,791) | |
Accounts payable | 16,011 | 143,645 | (2,528) | |
Prepaid taxes and taxes accrued | 40,127 | 37,485 | (54,531) | |
Interest accrued | 1,635 | (3,303) | (367) | |
Deferred fuel costs | 33,190 | (105,741) | 151,332 | |
Other working capital accounts | 15,087 | (46,490) | (44,784) | |
Changes in provisions for estimated losses | 16,047 | 13,130 | (137) | |
Increase (Decrease) in Other Regulatory Assets | 76,762 | 95,464 | (60,279) | |
Increase (Decrease) in Regulatory Liabilities | 1,043,507 | 62,994 | (11,123) | |
Deferred tax rate change recognized as regulatory liability/asset | (1,047,837) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (70,826) | (36,805) | (110,936) | |
Other | (29,577) | (67,115) | 8,565 | |
Net cash flow provided by operating activities | 555,556 | 676,511 | 474,890 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (735,816) | (666,289) | (624,546) | |
Allowance for equity funds used during construction | 19,211 | 17,754 | 15,882 | |
Nuclear fuel purchases | (151,424) | (102,050) | (132,252) | |
Proceeds from sale of nuclear fuel | 51,029 | 39,313 | 52,281 | |
Payment for purchase of plant or assets | 0 | (237,323) | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 339,434 | 197,390 | 212,954 | |
Investment in nuclear decommissioning trust funds | (352,138) | (213,093) | (223,357) | |
Change in money pool receivable - net | 0 | 0 | 2,218 | |
Proceeds from insurance | 0 | 10,404 | 11,654 | |
Other | 392 | 5,899 | (108) | |
Net cash flow used in investing activities | (829,312) | (947,995) | (685,274) | |
Proceeds from the issuance of: | ||||
Long-term debt | 294,656 | 817,563 | 0 | |
Retirement of long-term debt | (175,560) | (628,433) | (13,234) | |
Proceeds from Contributions from Parent | 0 | 200,000 | 0 | |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | (85,283) | 0 | |
Change in money pool payable - net | 114,905 | (1,510) | 52,742 | |
Changes in credit borrowings and commercial paper - net | 49,974 | (11,690) | (36,278) | |
Dividends paid: | ||||
Common stock | (15,000) | 0 | 0 | |
Preferred stock | (1,428) | (6,631) | (6,873) | |
Other | (8,084) | (1,158) | 4,657 | |
Net cash flow provided by (used in) financing activities | 259,463 | 282,858 | 1,014 | |
Net increase (decrease) in cash and cash equivalents | (14,293) | 11,374 | (209,370) | |
Cash and cash equivalents at beginning of period | 20,509 | 9,135 | 218,505 | |
Cash and cash equivalents at end of period | 6,216 | 20,509 | 9,135 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 115,162 | 112,912 | 100,435 | |
Income taxes | (8,141) | (135,709) | 103,296 | |
Entergy Louisiana [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 316,347 | 622,047 | 446,639 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 621,018 | 620,211 | 593,635 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 575,804 | 178,549 | 97,461 | |
Changes in working capital: | ||||
Receivables | (53,829) | (102,200) | (12,795) | |
Fuel inventory | 11,010 | (2,693) | (887) | |
Accounts payable | 58,880 | (36,720) | 23,641 | |
Prepaid taxes and taxes accrued | 128,261 | (235,246) | 105,687 | |
Interest accrued | (70) | 1,218 | 2,933 | |
Deferred fuel costs | 23,236 | (17,023) | 4,222 | |
Other working capital accounts | (30,911) | 6,462 | (41,890) | |
Changes in provisions for estimated losses | (8,324) | 490 | (8,946) | |
Increase (Decrease) in Other Regulatory Assets | (492,696) | (57,579) | (130,762) | |
Increase (Decrease) in Regulatory Liabilities | 605,453 | 62,351 | 96,234 | |
Deferred tax rate change recognized as regulatory liability/asset | (1,207,808) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (32,309) | (52,559) | (98,695) | |
Other | (161,909) | (64,554) | (182,485) | |
Net cash flow provided by operating activities | 1,337,545 | 1,037,912 | 1,155,516 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (1,662,835) | (1,030,416) | (845,227) | |
Allowance for equity funds used during construction | 51,485 | 27,925 | 19,192 | |
Nuclear fuel purchases | (197,829) | (73,618) | (244,040) | |
Proceeds from sale of nuclear fuel | 42,634 | 63,304 | 54,595 | |
Payment for purchase of plant or assets | 0 | (474,670) | 0 | |
Payments for (Proceeds from) Productive Assets | (9,805) | 0 | 0 | |
Proceeds from sale of assets | 0 | 0 | 59,610 | |
Payments To Storm Reserve Escrow Account | (2,110) | (1,063) | (308) | |
Receipts from storm reserve escrow account | 8,835 | 0 | 0 | |
Changes in securitization account | 880 | 351 | (137) | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 0 | 57,934 | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 231,293 | 219,182 | 123,474 | |
Investment in nuclear decommissioning trust funds | (266,592) | (257,209) | (158,028) | |
Change in money pool receivable - net | 11,330 | (16,349) | (3,339) | |
Proceeds from insurance | 5,305 | 10,564 | 0 | |
Net cash flow used in investing activities | (1,787,409) | (1,474,065) | (994,208) | |
Proceeds from the issuance of: | ||||
Long-term debt | 733,344 | 2,450,063 | 77,172 | |
Retirement of long-term debt | (407,736) | (1,488,870) | (180,595) | |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | (110,286) | |
Changes in credit borrowings and commercial paper - net | 39,746 | (56,562) | 14,322 | |
Dividends paid: | ||||
Common stock | (91,250) | (285,500) | (226,000) | |
Preferred stock | 0 | 0 | (6,082) | |
Other | (2,183) | (4,230) | (15,253) | |
Net cash flow provided by (used in) financing activities | 271,921 | 614,901 | (446,722) | |
Net increase (decrease) in cash and cash equivalents | (177,943) | 178,748 | (285,414) | |
Cash and cash equivalents at beginning of period | 213,850 | 35,102 | 320,516 | |
Cash and cash equivalents at end of period | 35,907 | 213,850 | 35,102 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 266,871 | 324,456 | 243,745 | |
Income taxes | (234,199) | 156,605 | 89,124 | |
Noncash Capital Contribution from Parent | 0 | 0 | (267,826) | |
Entergy Mississippi [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 110,032 | 109,184 | 92,708 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 143,479 | 136,214 | 129,029 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 84,816 | 60,986 | 18,673 | |
Changes in working capital: | ||||
Receivables | (29,528) | (28,819) | 50,199 | |
Fuel inventory | 5,266 | 401 | (8,537) | |
Accounts payable | 3,595 | 33,733 | (26,682) | |
Prepaid taxes and taxes accrued | 18,803 | 20,579 | (10,104) | |
Interest accrued | 1,248 | 822 | (2,341) | |
Deferred fuel costs | (25,487) | (114,711) | 105,560 | |
Other working capital accounts | 5,115 | (5,222) | (663) | |
Changes in provisions for estimated losses | (9,676) | 6,378 | (2,080) | |
Increase (Decrease) in Other Regulatory Assets | 17,412 | 3,626 | (39,582) | |
Increase (Decrease) in Regulatory Liabilities | 405,395 | (2,986) | 9,172 | |
Deferred tax rate change recognized as regulatory liability/asset | (452,429) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (8,055) | (10,648) | (14,939) | |
Other | (8,577) | 9,995 | (7,298) | |
Net cash flow provided by operating activities | 226,585 | 212,280 | 372,279 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (427,616) | (310,356) | (235,894) | |
Allowance for equity funds used during construction | 9,667 | 5,801 | 3,095 | |
Payments for (Proceeds from) Productive Assets | (6,958) | 0 | 0 | |
Change in money pool receivable - net | 8,962 | 15,335 | (25,286) | |
Proceeds from insurance | 0 | 0 | 12,932 | |
Other | (1,281) | (224) | 26 | |
Net cash flow used in investing activities | (417,226) | (289,444) | (245,127) | |
Proceeds from the issuance of: | ||||
Long-term debt | 148,185 | 623,812 | 0 | |
Retirement of long-term debt | 0 | (562,400) | 0 | |
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | (30,000) | 0 | |
Dividends paid: | ||||
Common stock | (26,000) | (24,000) | (40,000) | |
Preferred stock | (953) | (2,755) | (2,828) | |
Other | (1,329) | 3,736 | (352) | |
Net cash flow provided by (used in) financing activities | 119,903 | 8,393 | (43,180) | |
Net increase (decrease) in cash and cash equivalents | (70,738) | (68,771) | 83,972 | |
Cash and cash equivalents at beginning of period | 76,834 | 145,605 | 61,633 | |
Cash and cash equivalents at end of period | 6,096 | 76,834 | 145,605 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 47,631 | 53,693 | 57,576 | |
Income taxes | (25,043) | (12,487) | 61,333 | |
Entergy New Orleans [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 44,553 | 48,849 | 44,925 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 52,945 | 51,737 | 43,205 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 64,036 | 140,283 | 22,180 | |
Changes in working capital: | ||||
Receivables | (18,058) | (3,888) | 7,878 | |
Fuel inventory | (49) | 71 | 1,104 | |
Accounts payable | 1,874 | 15,434 | 2,738 | |
Prepaid taxes and taxes accrued | (22,100) | (1,685) | (1,050) | |
Interest accrued | 44 | 534 | 1,270 | |
Deferred fuel costs | 12,592 | (33,839) | (182) | |
Other working capital accounts | (2,711) | 4,165 | (1,945) | |
Changes in provisions for estimated losses | (3,430) | 4,326 | 58,310 | |
Increase (Decrease) in Other Regulatory Assets | (16,673) | 2,784 | 70,471 | |
Increase (Decrease) in Regulatory Liabilities | 110,147 | (3,997) | (7,359) | |
Deferred tax rate change recognized as regulatory liability/asset | (111,170) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (15,994) | (6,859) | (18,831) | |
Other | (1,555) | (7,136) | 23,296 | |
Net cash flow provided by operating activities | 127,797 | 205,211 | 105,068 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (115,584) | (90,512) | (91,928) | |
Allowance for equity funds used during construction | 2,418 | 1,178 | 1,404 | |
Payment for purchase of plant or assets | 0 | (237,335) | 0 | |
Investment in affiliates | 0 | (38) | 0 | |
Payments To Storm Reserve Escrow Account | (597) | (438) | (68,886) | |
Receipts from storm reserve escrow account | 2,488 | 3 | 5,922 | |
Changes in securitization account | 283 | 2,882 | (4,620) | |
Change in money pool receivable - net | 1,492 | 1,579 | (15,352) | |
Net cash flow used in investing activities | (109,500) | (322,681) | (173,460) | |
Proceeds from the issuance of: | ||||
Long-term debt | 0 | 240,604 | 95,367 | |
Retirement of long-term debt | (10,600) | (132,526) | 0 | |
Repayment of long-term payable due to Entergy Louisiana | (2,104) | (4,973) | (59,610) | |
Proceeds from Contributions from Parent | 20,000 | 47,750 | 87,500 | |
Payments for Repurchase of Preferred Stock and Preference Stock | (20,599) | 0 | 0 | |
Dividends paid: | ||||
Common stock | (74,250) | (18,720) | (7,250) | |
Preferred stock | (1,083) | (965) | (965) | |
Other | 12 | 492 | (163) | |
Net cash flow provided by (used in) financing activities | (88,624) | 131,662 | 114,879 | |
Net increase (decrease) in cash and cash equivalents | (70,327) | 14,192 | 46,487 | |
Cash and cash equivalents at beginning of period | 103,068 | 88,876 | 42,389 | |
Cash and cash equivalents at end of period | 32,741 | 103,068 | 88,876 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 20,180 | 19,317 | 14,951 | |
Income taxes | (8,660) | (85,962) | 8,110 | |
Entergy Texas [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 76,173 | 107,538 | 69,625 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 117,520 | 107,026 | 102,410 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 42,119 | 20,794 | (23,292) | |
Changes in working capital: | ||||
Receivables | (15,934) | (9,300) | 21,443 | |
Fuel inventory | (25,054) | 9,765 | 2,960 | |
Accounts payable | 32,842 | (22,462) | (16,913) | |
Prepaid taxes and taxes accrued | 30,308 | 10,018 | 3,484 | |
Interest accrued | (421) | (3,229) | (551) | |
Deferred fuel costs | 12,758 | 29,419 | 36,985 | |
Other working capital accounts | (7,852) | (3,354) | 2,468 | |
Changes in provisions for estimated losses | 2,531 | (1,735) | (2,899) | |
Increase (Decrease) in Other Regulatory Assets | (184,574) | (74,389) | (125,133) | |
Increase (Decrease) in Regulatory Liabilities | 410,968 | 2,106 | 1,271 | |
Deferred tax rate change recognized as regulatory liability/asset | (520,547) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | (49,445) | (10,204) | (33,474) | |
Other | 10,856 | (4,170) | (4,382) | |
Net cash flow provided by operating activities | 301,396 | 306,601 | 284,268 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (348,027) | (337,963) | (320,408) | |
Allowance for equity funds used during construction | 6,874 | 7,743 | 5,751 | |
Changes in securitization account | (232) | 710 | (942) | |
Change in money pool receivable - net | (44,222) | (681) | 306 | |
Proceeds from insurance | 2,431 | 0 | 0 | |
Net cash flow used in investing activities | (383,176) | (330,191) | (315,293) | |
Proceeds from the issuance of: | ||||
Long-term debt | 148,277 | 123,502 | 246,607 | |
Retirement of long-term debt | (71,683) | (68,593) | (265,734) | |
Proceeds from Contributions from Parent | 115,000 | 0 | 0 | |
Change in money pool payable - net | 0 | (22,068) | 22,068 | |
Dividends paid: | ||||
Other | (482) | (5,252) | (175) | |
Net cash flow provided by (used in) financing activities | 191,112 | 27,589 | 2,766 | |
Net increase (decrease) in cash and cash equivalents | 109,332 | 3,999 | (28,259) | |
Cash and cash equivalents at beginning of period | 6,181 | 2,182 | 30,441 | |
Cash and cash equivalents at end of period | 115,513 | 6,181 | 2,182 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 84,556 | 88,489 | 83,290 | |
Income taxes | (21,107) | 28,523 | 60,359 | |
System Energy [Member] | ||||
OPERATING ACTIVITIES | ||||
Consolidated net income (loss) | 78,596 | 96,744 | 111,318 | |
Adjustments to reconcile net income to net cash flow provided by operating activities: | ||||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 240,962 | 224,879 | 270,514 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 7,827 | 99,531 | 200,797 | |
Changes in working capital: | ||||
Receivables | 9,210 | (15,846) | 5,879 | |
Accounts payable | 15,969 | 2,720 | (352) | |
Prepaid taxes and taxes accrued | 62,466 | (6,555) | (32,594) | |
Interest accrued | (660) | (134) | (19,013) | |
Other working capital accounts | 12,083 | (15,470) | 13,576 | |
Increase (Decrease) in Other Regulatory Assets | (60,012) | 58,279 | 4,565 | |
Increase (Decrease) in Regulatory Liabilities | 331,251 | 33,438 | (33,686) | |
Deferred tax rate change recognized as regulatory liability/asset | (325,707) | 0 | 0 | |
Changes in pensions and other postretirement liabilities | 4,024 | 5,586 | (16,888) | |
Other | (124,755) | (24,675) | 7,550 | |
Net cash flow provided by operating activities | 371,278 | 341,939 | 502,536 | |
INVESTING ACTIVITIES | ||||
Construction/capital expenditures | (91,705) | (88,037) | (70,358) | |
Allowance for equity funds used during construction | 6,345 | 7,944 | 8,494 | |
Nuclear fuel purchases | (49,728) | (151,068) | (64,977) | |
Proceeds from sale of nuclear fuel | 69,516 | 11,467 | 57,681 | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 0 | 15,806 | 0 | |
Proceeds from nuclear decommissioning trust fund sales | 565,416 | 499,252 | 390,371 | |
Investment in nuclear decommissioning trust funds | (596,236) | (534,083) | (421,220) | |
Change in money pool receivable - net | (77,858) | 6,117 | (37,553) | |
Net cash flow used in investing activities | (174,250) | (232,602) | (137,562) | |
Proceeds from the issuance of: | ||||
Long-term debt | 150,100 | 0 | 0 | |
Retirement of long-term debt | (150,103) | (22,002) | (136,310) | |
Changes in credit borrowings and commercial paper - net | (49,063) | 66,893 | (20,404) | |
Dividends paid: | ||||
Common stock | (106,610) | (139,000) | (200,750) | |
Other | (28) | (26) | (28) | |
Net cash flow provided by (used in) financing activities | (155,704) | (94,135) | (357,492) | |
Net increase (decrease) in cash and cash equivalents | 41,324 | 15,202 | 7,482 | |
Cash and cash equivalents at beginning of period | 245,863 | 230,661 | 223,179 | |
Cash and cash equivalents at end of period | 287,187 | 245,863 | 230,661 | |
Cash paid (received) during the period for: | ||||
Interest - net of amount capitalized | 26,251 | 36,152 | 47,864 | |
Income taxes | $ (2,227) | $ (23,565) | $ (114,092) | |
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||
Cash | $ 56,629 | $ 129,579 |
Temporary cash investments | 724,644 | 1,058,265 |
Total cash and cash equivalents | 781,273 | 1,187,844 |
Accounts receivable: | ||
Customer | 673,347 | 654,995 |
Allowance for doubtful accounts | (13,587) | (11,924) |
Other | 169,377 | 158,419 |
Accrued unbilled revenues | 383,813 | 368,677 |
Total accounts receivable | 1,212,950 | 1,170,167 |
Deferred fuel costs | 95,746 | 108,465 |
Fuel inventory - at average cost | 182,643 | 179,600 |
Materials and supplies - at average cost | 723,222 | 698,523 |
Deferred nuclear refueling outage costs | 133,164 | 146,221 |
Prepayments and other | 156,333 | 193,448 |
TOTAL | 3,285,331 | 3,684,268 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 198 | 198 |
Decommissioning trust funds | 7,211,993 | 5,723,897 |
Non-utility property - at cost (less accumulated depreciation) | 260,980 | 233,641 |
Other | 441,862 | 469,664 |
TOTAL | 7,915,033 | 6,427,400 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 47,287,370 | 45,191,216 |
Property under capital lease | 620,544 | 619,527 |
Natural gas | 453,162 | 413,224 |
Construction work in progress | 1,980,508 | 1,378,180 |
Nuclear fuel | 923,200 | 1,037,899 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 51,264,784 | 48,640,046 |
Less - accumulated depreciation and amortization | 21,600,424 | 20,718,639 |
PROPERTY, PLANT AND EQUIPMENT - NET | 29,664,360 | 27,921,407 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 761,280 |
Regulatory Assets, Noncurrent | 4,935,689 | 4,769,913 |
Deferred fuel costs | 239,298 | 239,100 |
Goodwill | 377,172 | 377,172 |
Accumulated deferred income taxes | 178,204 | 117,885 |
Other | 112,062 | 1,606,009 |
TOTAL | 5,842,425 | 7,871,359 |
TOTAL ASSETS | 46,707,149 | 45,904,434 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 760,007 | 364,900 |
Notes payable | 1,578,308 | 415,011 |
Accounts payable | 1,452,216 | 1,285,577 |
Customer deposits | 401,330 | 403,311 |
Taxes accrued | 214,967 | 181,114 |
Interest accrued | 187,972 | 187,229 |
Deferred fuel costs | 146,522 | 102,753 |
Obligations under capital leases | 1,502 | 2,423 |
Pension and other postretirement liabilities | 71,612 | 76,942 |
Other | 221,771 | 180,836 |
TOTAL | 5,036,207 | 3,200,096 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 4,466,503 | 7,495,290 |
Accumulated deferred investment tax credits | 219,634 | 227,147 |
Regulatory liability for income taxes - net | 2,900,204 | 0 |
Obligations under capital leases | 22,015 | 24,582 |
Other regulatory liabilities | 1,588,520 | 1,572,929 |
Decommissioning trust fund | 6,185,814 | 5,992,476 |
Accumulated provisions | 478,273 | 481,636 |
Pension and other postretirement liabilities | 2,910,654 | 3,036,010 |
Long-term debt | 14,315,259 | 14,467,655 |
Other | 393,748 | 1,121,619 |
TOTAL | 33,480,624 | 34,419,344 |
Commitments and Contingencies | ||
Subsidiaries’ preferred stock without sinking fund | 197,803 | 203,185 |
COMMON EQUITY | ||
Common stock | 2,548 | 2,548 |
Paid-in capital | 5,433,433 | 5,417,245 |
Retained earnings | 7,977,702 | 8,195,571 |
Accumulated other comprehensive loss | (23,531) | (34,971) |
Less - treasury stock, at cost (76,681,936 shares in 2013 and 76,945,239 shares in 2012) | 5,397,637 | 5,498,584 |
TOTAL | 7,992,515 | 8,081,809 |
TOTAL | 7,992,515 | 8,081,809 |
TOTAL LIABILITIES AND EQUITY | 46,707,149 | 45,904,434 |
Entergy Louisiana [Member] | ||
Cash and cash equivalents: | ||
Cash | 5,836 | 49,972 |
Temporary cash investments | 30,071 | 163,878 |
Total cash and cash equivalents | 35,907 | 213,850 |
Accounts receivable: | ||
Customer | 254,308 | 213,517 |
Allowance for doubtful accounts | (8,430) | (6,277) |
Associated companies | 143,524 | 155,794 |
Other | 60,893 | 54,186 |
Accrued unbilled revenues | 153,118 | 159,176 |
Total accounts receivable | 603,413 | 576,396 |
Fuel inventory - at average cost | 39,728 | 50,738 |
Materials and supplies - at average cost | 299,881 | 294,421 |
Deferred nuclear refueling outage costs | 65,711 | 22,535 |
Prepaid taxes | 0 | 110,104 |
Prepayments and other | 34,035 | 41,687 |
TOTAL | 1,078,675 | 1,309,731 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 1,390,587 | 1,390,587 |
Decommissioning trust funds | 1,312,073 | 1,140,707 |
Non-utility property - at cost (less accumulated depreciation) | 245,255 | 217,494 |
Storm reserve escrow account | 284,759 | 291,485 |
Other | 18,999 | 28,844 |
TOTAL | 3,251,673 | 3,069,117 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 19,678,536 | 18,827,532 |
Natural gas | 191,899 | 172,816 |
Construction work in progress | 1,281,452 | 670,201 |
Nuclear fuel | 337,402 | 249,807 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 21,489,289 | 19,920,356 |
Less - accumulated depreciation and amortization | 8,703,047 | 8,420,596 |
PROPERTY, PLANT AND EQUIPMENT - NET | 12,786,242 | 11,499,760 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 470,480 |
Regulatory Assets, Noncurrent | 1,145,842 | 1,168,058 |
Deferred fuel costs | 168,122 | 168,122 |
Other | 18,310 | 16,003 |
TOTAL | 1,332,274 | 1,822,663 |
Deferred fuel cost noncurrent | 168,100 | 168,100 |
TOTAL ASSETS | 18,448,864 | 17,701,271 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 675,002 | 200,198 |
Short-term borrowings | 43,540 | 3,794 |
Associated companies accounts payable | 126,685 | 82,106 |
Other | 404,374 | 358,741 |
Customer deposits | 150,623 | 148,601 |
Taxes accrued | 18,157 | 0 |
Interest accrued | 75,528 | 75,598 |
Deferred fuel costs | 71,447 | 48,211 |
Other | 79,037 | 80,013 |
TOTAL | 1,644,393 | 997,262 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 2,050,371 | 2,691,118 |
Accumulated deferred investment tax credits | 121,870 | 126,741 |
Regulatory liability for income taxes - net | 725,368 | 0 |
Other regulatory liabilities | 761,059 | 880,974 |
Decommissioning trust fund | 1,140,461 | 1,082,685 |
Accumulated provisions | 302,448 | 310,772 |
Pension and other postretirement liabilities | 748,384 | 780,278 |
Long-term debt | 5,469,069 | 5,612,593 |
Other | 176,637 | 137,039 |
TOTAL | 11,495,667 | 11,622,200 |
Commitments and Contingencies | ||
COMMON EQUITY | ||
Accumulated other comprehensive loss | (46,400) | (48,442) |
Members' Equity | 5,355,204 | 5,130,251 |
TOTAL | 5,308,804 | 5,081,809 |
TOTAL LIABILITIES AND EQUITY | 18,448,864 | 17,701,271 |
Entergy Arkansas [Member] | ||
Cash and cash equivalents: | ||
Cash | 6,184 | 20,174 |
Temporary cash investments | 32 | 335 |
Total cash and cash equivalents | 6,216 | 20,509 |
Securitization recovery trust account | 3,748 | 4,140 |
Accounts receivable: | ||
Customer | 110,016 | 102,229 |
Allowance for doubtful accounts | (1,063) | (1,211) |
Associated companies | 38,765 | 35,286 |
Other | 65,209 | 58,153 |
Accrued unbilled revenues | 105,120 | 100,193 |
Total accounts receivable | 318,047 | 294,650 |
Deferred fuel costs | 63,302 | 96,690 |
Fuel inventory - at average cost | 29,358 | 32,760 |
Materials and supplies - at average cost | 192,853 | 182,600 |
Deferred nuclear refueling outage costs | 56,485 | 81,313 |
Prepayments and other | 12,108 | 14,293 |
TOTAL | 682,117 | 726,955 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 944,890 | 834,735 |
Other | 3,160 | 7,912 |
TOTAL | 948,050 | 842,647 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 11,059,538 | 10,488,060 |
Property under capital lease | 0 | 716 |
Construction work in progress | 280,888 | 304,073 |
Nuclear fuel | 277,345 | 307,352 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 11,617,771 | 11,100,201 |
Less - accumulated depreciation and amortization | 4,762,352 | 4,635,885 |
PROPERTY, PLANT AND EQUIPMENT - NET | 6,855,419 | 6,464,316 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 62,646 |
Regulatory Assets, Noncurrent | 1,567,437 | 1,428,029 |
Deferred fuel costs | 67,096 | 66,898 |
Other | 13,910 | 14,626 |
TOTAL | 1,648,443 | 1,572,199 |
Deferred fuel cost noncurrent | 67,100 | 66,900 |
TOTAL ASSETS | 10,134,029 | 9,606,117 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 0 | 114,700 |
Short-term borrowings | 49,974 | 0 |
Associated companies accounts payable | 365,915 | 239,711 |
Other | 215,942 | 185,153 |
Customer deposits | 97,687 | 97,512 |
Taxes accrued | 47,321 | 7,194 |
Interest accrued | 18,215 | 16,580 |
Other | 29,922 | 36,557 |
TOTAL | 824,976 | 697,407 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 1,190,669 | 2,186,623 |
Accumulated deferred investment tax credits | 34,104 | 35,305 |
Regulatory liability for income taxes - net | 985,823 | 0 |
Other regulatory liabilities | 363,591 | 305,907 |
Decommissioning trust fund | 981,213 | 924,353 |
Accumulated provisions | 34,729 | 18,682 |
Pension and other postretirement liabilities | 353,274 | 424,234 |
Long-term debt | 2,952,399 | 2,715,085 |
Other | 5,147 | 13,854 |
TOTAL | 6,900,949 | 6,624,043 |
Commitments and Contingencies | ||
Subsidiaries’ preferred stock without sinking fund | 31,350 | 31,350 |
COMMON EQUITY | ||
Common stock | 470 | 470 |
Paid-in capital | 790,264 | 790,243 |
Retained earnings | 1,586,020 | 1,462,604 |
TOTAL | 2,376,754 | 2,253,317 |
TOTAL LIABILITIES AND EQUITY | 10,134,029 | 9,606,117 |
Entergy Mississippi [Member] | ||
Cash and cash equivalents: | ||
Cash | 1,607 | 16 |
Temporary cash investments | 4,489 | 76,818 |
Total cash and cash equivalents | 6,096 | 76,834 |
Accounts receivable: | ||
Customer | 72,039 | 51,218 |
Allowance for doubtful accounts | (574) | (549) |
Associated companies | 45,081 | 45,973 |
Other | 9,738 | 12,006 |
Accrued unbilled revenues | 54,256 | 51,327 |
Total accounts receivable | 180,540 | 159,975 |
Deferred fuel costs | 32,444 | 6,957 |
Fuel inventory - at average cost | 45,606 | 50,872 |
Materials and supplies - at average cost | 42,571 | 41,146 |
Prepayments and other | 7,041 | 8,873 |
TOTAL | 314,298 | 344,657 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 4,592 | 4,608 |
Escrow accounts | 31,969 | 31,783 |
TOTAL | 36,561 | 36,391 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,660,297 | 4,321,214 |
Property under capital lease | 125 | 1,590 |
Construction work in progress | 149,367 | 118,182 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 4,809,789 | 4,440,986 |
Less - accumulated depreciation and amortization | 1,681,306 | 1,602,711 |
PROPERTY, PLANT AND EQUIPMENT - NET | 3,128,483 | 2,838,275 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 38,284 |
Regulatory Assets, Noncurrent | 397,909 | 342,213 |
Other | 2,124 | 2,320 |
TOTAL | 400,033 | 382,817 |
TOTAL ASSETS | 3,879,375 | 3,602,140 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 0 | 0 |
Associated companies accounts payable | 55,689 | 43,647 |
Other | 77,326 | 80,227 |
Customer deposits | 83,654 | 84,112 |
Taxes accrued | 82,843 | 64,040 |
Interest accrued | 22,901 | 21,653 |
Other | 12,785 | 9,554 |
TOTAL | 335,198 | 303,233 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 488,806 | 861,331 |
Accumulated deferred investment tax credits | 8,867 | 8,667 |
Regulatory liability for income taxes - net | 411,011 | 0 |
Decommissioning trust fund | 9,219 | 8,722 |
Accumulated provisions | 44,764 | 54,440 |
Pension and other postretirement liabilities | 101,498 | 109,551 |
Long-term debt | 1,270,122 | 1,120,916 |
Other | 11,639 | 20,108 |
TOTAL | 2,345,926 | 2,183,735 |
Commitments and Contingencies | ||
Subsidiaries’ preferred stock without sinking fund | 20,381 | 20,381 |
COMMON EQUITY | ||
Common stock | 199,326 | 199,326 |
Paid-in capital | 167 | 167 |
Retained earnings | 978,377 | 895,298 |
TOTAL | 1,177,870 | 1,094,791 |
TOTAL LIABILITIES AND EQUITY | 3,879,375 | 3,602,140 |
Entergy New Orleans [Member] | ||
Cash and cash equivalents: | ||
Cash | 30 | 28 |
Temporary cash investments | 32,711 | 103,040 |
Total cash and cash equivalents | 32,741 | 103,068 |
Securitization recovery trust account | 1,455 | 1,738 |
Accounts receivable: | ||
Customer | 51,006 | 43,536 |
Allowance for doubtful accounts | (3,057) | (3,059) |
Associated companies | 22,976 | 16,811 |
Other | 6,471 | 5,926 |
Accrued unbilled revenues | 20,638 | 18,254 |
Total accounts receivable | 98,034 | 81,468 |
Deferred fuel costs | 0 | 4,818 |
Fuel inventory - at average cost | 1,890 | 1,841 |
Materials and supplies - at average cost | 10,381 | 8,416 |
Prepaid taxes | 26,479 | 4,379 |
Prepayments and other | 8,030 | 6,587 |
TOTAL | 179,010 | 212,315 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 |
Storm reserve escrow account | 79,546 | 81,437 |
Other | 2,373 | 7,160 |
TOTAL | 82,935 | 89,613 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 1,302,235 | 1,258,934 |
Natural gas | 261,263 | 240,408 |
Construction work in progress | 46,993 | 24,975 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 1,610,491 | 1,524,317 |
Less - accumulated depreciation and amortization | 631,178 | 604,825 |
PROPERTY, PLANT AND EQUIPMENT - NET | 979,313 | 919,492 |
Regulatory assets: | ||
Regulatory Assets, Noncurrent | 251,433 | 268,106 |
Deferred fuel costs | 4,080 | 4,080 |
Other | 1,065 | 963 |
TOTAL | 256,578 | 273,149 |
Deferred fuel cost noncurrent | 4,100 | 4,100 |
TOTAL ASSETS | 1,497,836 | 1,494,569 |
CURRENT LIABILITIES | ||
Current payable due Entergy Louisiana | 2,077 | 2,104 |
Associated companies accounts payable | 47,472 | 39,260 |
Other | 29,777 | 35,920 |
Customer deposits | 28,442 | 28,667 |
Interest accrued | 5,487 | 5,443 |
Deferred fuel costs | 7,774 | 0 |
Other | 7,351 | 11,415 |
TOTAL | 128,380 | 122,809 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 283,302 | 334,953 |
Accumulated deferred investment tax credits | 2,323 | 622 |
Regulatory liability for income taxes - net | 119,259 | 9,074 |
Decommissioning trust fund | 3,076 | 2,875 |
Accumulated provisions | 85,083 | 88,513 |
Pension and other postretirement liabilities | 20,755 | 36,750 |
Long-term debt | 418,447 | 428,467 |
Non-Current Payable due Entergy Louisiana | 16,346 | 18,423 |
Other | 5,317 | 5,357 |
TOTAL | 953,908 | 925,034 |
Commitments and Contingencies | ||
Subsidiaries’ preferred stock without sinking fund | 0 | 19,780 |
COMMON EQUITY | ||
Members' Equity | 415,548 | 426,946 |
TOTAL | 415,548 | 426,946 |
TOTAL LIABILITIES AND EQUITY | 1,497,836 | 1,494,569 |
Entergy Texas [Member] | ||
Cash and cash equivalents: | ||
Cash | 32 | 1,216 |
Temporary cash investments | 115,481 | 4,965 |
Total cash and cash equivalents | 115,513 | 6,181 |
Securitization recovery trust account | 37,683 | 37,451 |
Accounts receivable: | ||
Customer | 74,382 | 71,803 |
Allowance for doubtful accounts | (463) | (828) |
Associated companies | 90,629 | 39,447 |
Other | 9,831 | 14,756 |
Accrued unbilled revenues | 50,682 | 39,727 |
Total accounts receivable | 225,061 | 164,905 |
Fuel inventory - at average cost | 42,731 | 37,177 |
Materials and supplies - at average cost | 38,605 | 36,631 |
Prepayments and other | 19,710 | 18,599 |
TOTAL | 479,303 | 300,944 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 457 | 600 |
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 |
Other | 19,235 | 18,801 |
TOTAL | 20,068 | 19,777 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,569,295 | 4,274,069 |
Construction work in progress | 102,088 | 111,227 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 4,671,383 | 4,385,296 |
Less - accumulated depreciation and amortization | 1,579,387 | 1,526,057 |
PROPERTY, PLANT AND EQUIPMENT - NET | 3,091,996 | 2,859,239 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 105,816 |
Regulatory Assets, Noncurrent | 661,398 | 740,156 |
Other | 26,973 | 7,149 |
TOTAL | 688,371 | 853,121 |
TOTAL ASSETS | 4,279,738 | 4,033,081 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 0 | 0 |
Associated companies accounts payable | 59,347 | 47,867 |
Other | 126,095 | 77,342 |
Customer deposits | 40,925 | 44,419 |
Taxes accrued | 45,659 | 15,351 |
Interest accrued | 25,556 | 25,977 |
Deferred fuel costs | 67,301 | 54,543 |
Other | 8,132 | 9,388 |
TOTAL | 373,015 | 274,887 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 544,642 | 1,027,647 |
Accumulated deferred investment tax credits | 11,983 | 12,934 |
Regulatory liability for income taxes - net | 412,620 | 0 |
Other regulatory liabilities | 6,850 | 8,502 |
Decommissioning trust fund | 6,835 | 6,470 |
Accumulated provisions | 10,115 | 7,584 |
Pension and other postretirement liabilities | 17,853 | 67,313 |
Long-term debt | 1,587,150 | 1,508,407 |
Other | 48,508 | 50,343 |
TOTAL | 2,646,556 | 2,689,200 |
Commitments and Contingencies | ||
COMMON EQUITY | ||
Common stock | 49,452 | 49,452 |
Paid-in capital | 596,994 | 481,994 |
Retained earnings | 613,721 | 537,548 |
TOTAL | 1,260,167 | 1,068,994 |
TOTAL LIABILITIES AND EQUITY | 4,279,738 | 4,033,081 |
System Energy [Member] | ||
Cash and cash equivalents: | ||
Cash | 78 | 786 |
Temporary cash investments | 287,109 | 245,077 |
Total cash and cash equivalents | 287,187 | 245,863 |
Accounts receivable: | ||
Associated companies | 170,149 | 104,390 |
Other | 6,526 | 3,637 |
Total accounts receivable | 176,675 | 108,027 |
Materials and supplies - at average cost | 88,424 | 82,469 |
Deferred nuclear refueling outage costs | 7,908 | 24,729 |
Prepayments and other | 2,489 | 20,111 |
TOTAL | 562,683 | 481,199 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 905,686 | 780,496 |
TOTAL | 905,686 | 780,496 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,327,849 | 4,331,668 |
Property under capital lease | 588,281 | 585,084 |
Construction work in progress | 69,937 | 43,888 |
Nuclear fuel | 207,513 | 259,635 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | 5,193,580 | 5,220,275 |
Less - accumulated depreciation and amortization | 3,175,018 | 3,063,249 |
PROPERTY, PLANT AND EQUIPMENT - NET | 2,018,562 | 2,157,026 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 0 | 93,127 |
Regulatory Assets, Noncurrent | 444,327 | 411,212 |
Other | 7,629 | 4,652 |
TOTAL | 451,956 | 508,991 |
TOTAL ASSETS | 3,938,887 | 3,927,712 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 85,004 | 50,003 |
Short-term borrowings | 17,830 | 66,893 |
Associated companies accounts payable | 16,878 | 5,843 |
Other | 62,868 | 50,558 |
Taxes accrued | 46,584 | 0 |
Interest accrued | 13,389 | 14,049 |
Other | 2,434 | 2,957 |
TOTAL | 244,987 | 190,303 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 776,420 | 1,112,865 |
Accumulated deferred investment tax credits | 39,406 | 41,663 |
Regulatory liability for income taxes - net | 246,122 | 0 |
Other regulatory liabilities | 455,991 | 370,862 |
Decommissioning trust fund | 861,664 | 854,202 |
Pension and other postretirement liabilities | 121,874 | 117,850 |
Long-term debt | 466,484 | 501,129 |
Other | 15,130 | 15 |
TOTAL | 2,983,091 | 2,998,586 |
Commitments and Contingencies | ||
COMMON EQUITY | ||
Common stock | 658,350 | 679,350 |
Retained earnings | 52,459 | 59,473 |
TOTAL | 710,809 | 738,823 |
TOTAL LIABILITIES AND EQUITY | $ 3,938,887 | $ 3,927,712 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securitization property | $ 485,031 | $ 600,996 |
Securitization bonds | $ 544,921 | $ 661,175 |
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 | 254,752,788 |
Treasury stock, shares | 75,235,135 | 75,623,363 |
Entergy Arkansas [Member] | ||
Securitization property | $ 28,583 | $ 41,164 |
Securitization bonds | $ 34,662 | $ 48,139 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 325,000,000 | 325,000,000 |
Common stock, shares issued | 46,980,196 | 46,980,196 |
Common stock, shares outstanding | 46,980,196 | 46,980,196 |
Entergy Louisiana [Member] | ||
Securitization property | $ 71,367 | $ 92,951 |
Securitization bonds | $ 77,736 | $ 99,217 |
Entergy Mississippi [Member] | ||
Common stock, shares authorized | 12,000,000 | 12,000,000 |
Common stock, shares issued | 8,666,357 | 8,666,357 |
Common stock, shares outstanding | 8,666,357 | 8,666,357 |
Entergy New Orleans [Member] | ||
Securitization property | $ 72,095 | $ 82,272 |
Securitization bonds | 74,419 | 84,776 |
Entergy Texas [Member] | ||
Securitization property | 313,123 | 384,609 |
Securitization bonds | $ 358,104 | $ 429,043 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 46,525,000 | 46,525,000 |
Common stock, shares outstanding | 46,525,000 | 46,525,000 |
System Energy [Member] | ||
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares issued | 789,350 | 789,350 |
Common stock, shares outstanding | 789,350 | 789,350 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands | Total | Subsidiaries' Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member]Common Stock [Member] | Entergy Arkansas [Member]Paid In Capital [Member] | Entergy Arkansas [Member]Retained Earnings [Member] | Entergy Louisiana [Member] | Entergy Louisiana [Member]Preferred Membership Interest | Entergy Louisiana [Member]Member's Equity [Member] | Entergy Louisiana [Member]Accumulated Other Comprehensive Income [Member] | Entergy Mississippi [Member] | Entergy Mississippi [Member]Common Stock [Member] | Entergy Mississippi [Member]Capital Stock Expense and Other [Member] | Entergy Mississippi [Member]Retained Earnings [Member] | Entergy New Orleans [Member] | Entergy New Orleans [Member]Member's Equity [Member] | Entergy Texas [Member] | Entergy Texas [Member]Common Stock [Member] | Entergy Texas [Member]Paid In Capital [Member] | Entergy Texas [Member]Retained Earnings [Member] | System Energy [Member] | System Energy [Member]Common Stock [Member] | System Energy [Member]Retained Earnings [Member] | |||||||
Beginning Balance at Dec. 31, 2014 | $ 10,101,725 | $ 94,000 | $ 2,548 | $ (5,497,526) | $ 5,375,353 | $ 10,169,657 | $ (42,307) | $ 1,824,237 | $ 470 | $ 588,471 | $ 1,235,296 | $ 4,346,987 | $ 110,000 | $ 4,316,210 | $ (79,223) | $ 962,170 | $ 199,326 | $ (690) | $ 763,534 | $ 228,025 | $ 891,831 | $ 49,452 | $ 481,994 | $ 360,385 | $ 870,511 | $ 789,350 | $ 81,161 | ||||||||
Consolidated net income (loss) | (156,734) | [1] | 19,828 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (176,562) | [1] | 0 | [1] | 74,272 | 0 | 0 | 74,272 | 446,639 | 0 | 446,639 | 0 | 92,708 | 0 | 0 | 92,708 | $ 44,925 | 44,925 | 69,625 | 0 | 0 | 69,625 | 111,318 | 0 | 111,318 |
Net income attributable to Entergy Louisiana | (2,203) | ||||||||||||||||||||||||||||||||||
Proceeds from Contributions from Parent | 0 | 87,500 | 87,500 | 0 | |||||||||||||||||||||||||||||||
Preferred Stock Redemptions | (110,000) | (110,000) | 0 | 0 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 51,258 | 0 | 0 | 0 | 0 | 0 | 51,258 | 22,811 | 0 | 0 | 22,811 | ||||||||||||||||||||||||
Payments for Repurchase of Common Stock | (99,807) | 0 | 0 | (99,807) | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (94,285) | (94,000) | 0 | 0 | 0 | (285) | 0 | 0 | (110,286) | 0 | 0 | ||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 267,826 | 0 | 267,826 | 0 | |||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (19,828) | [1] | (19,828) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (5,737) | 0 | (5,737) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | ||||||||
Common stock issuances related to stock plans | 73,359 | 0 | 0 | 44,954 | 28,405 | 0 | 0 | ||||||||||||||||||||||||||||
Common stock dividends declared | (598,897) | 0 | 0 | 0 | 0 | (598,897) | 0 | (40,000) | 0 | 0 | (40,000) | (7,250) | (200,750) | (70,000) | (130,750) | ||||||||||||||||||||
Preferred dividend requirements of subsidiaries | (19,828) | [1] | (19,828) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (6,873) | 0 | 0 | (6,873) | (5,737) | 0 | (5,737) | 0 | (2,828) | 0 | 0 | (2,828) | (965) | ||||||||
Distribution to parent | (226,000) | 0 | (226,000) | 0 | |||||||||||||||||||||||||||||||
Other | 22 | 0 | 22 | 0 | (5,214) | 0 | (5,214) | 0 | |||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2015 | 9,256,791 | 0 | 2,548 | (5,552,379) | 5,403,758 | 9,393,913 | 8,951 | 1,891,658 | 470 | 588,493 | 1,302,695 | 4,737,312 | 0 | 4,793,724 | (56,412) | 1,012,050 | 199,326 | (690) | 813,414 | 350,032 | 961,456 | 49,452 | 481,994 | 430,010 | 781,079 | 719,350 | 61,729 | ||||||||
Consolidated net income (loss) | (564,503) | [1] | 19,115 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (583,618) | [1] | 0 | [1] | 167,212 | 0 | 0 | 167,212 | 622,047 | 0 | 622,047 | 0 | 109,184 | 0 | 0 | 109,184 | 48,849 | 48,849 | 107,538 | 0 | 0 | 107,538 | 96,744 | 0 | 96,744 |
Proceeds from Contributions from Parent | 200,000 | 0 | 200,000 | 0 | 47,750 | 47,750 | 0 | ||||||||||||||||||||||||||||
Preferred Stock Redemptions | (2,889) | 0 | 0 | 0 | 0 | (2,889) | 0 | (283) | 0 | (1,750) | (2,033) | 0 | 0 | (857) | (857) | ||||||||||||||||||||
Other comprehensive income (loss) | (43,922) | 0 | 0 | 0 | 0 | 0 | (43,922) | 7,970 | 0 | 0 | 7,970 | ||||||||||||||||||||||||
Payments for Repurchase of Common Stock | 0 | ||||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (115,283) | (85,283) | 0 | (30,000) | 0 | ||||||||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 0 | ||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (19,115) | [1] | (19,115) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (5,270) | 0 | 0 | (5,270) | (2,443) | 0 | 0 | (2,443) | (965) | ||||||||||||
Common stock issuances related to stock plans | 67,282 | 0 | 0 | 53,795 | 13,487 | 0 | 0 | ||||||||||||||||||||||||||||
Common stock dividends declared | (611,835) | 0 | 0 | 0 | 0 | (611,835) | 0 | (24,000) | 0 | 0 | (24,000) | (18,720) | (139,000) | (40,000) | (99,000) | ||||||||||||||||||||
Preferred dividend requirements of subsidiaries | (19,115) | [1] | (19,115) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (5,270) | 0 | 0 | (5,270) | (2,443) | 0 | 0 | (2,443) | (965) | ||||||||||||
Distribution to parent | (285,500) | 0 | (285,500) | 0 | |||||||||||||||||||||||||||||||
Other | (20) | 0 | (20) | 0 | |||||||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2016 | 8,081,809 | 0 | 2,548 | (5,498,584) | 5,417,245 | 8,195,571 | (34,971) | 2,253,317 | 470 | 790,243 | 1,462,604 | 5,081,809 | 0 | 5,130,251 | (48,442) | 1,094,791 | 199,326 | 167 | 895,298 | 426,946 | 426,946 | 1,068,994 | 49,452 | 481,994 | 537,548 | 738,823 | 679,350 | 59,473 | |||||||
Consolidated net income (loss) | 425,353 | [1] | 13,741 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 411,612 | [1] | 0 | [1] | 139,844 | 0 | 0 | 139,844 | 316,347 | 0 | 316,347 | 0 | 110,032 | 0 | 0 | 110,032 | 44,553 | 44,553 | 76,173 | 0 | 0 | 76,173 | 78,596 | 0 | 78,596 |
Proceeds from Contributions from Parent | 0 | 20,000 | 20,000 | 115,000 | 0 | 115,000 | 0 | ||||||||||||||||||||||||||||
Preferred Stock Redemptions | (596) | 0 | 0 | 0 | 0 | (596) | 0 | ||||||||||||||||||||||||||||
Other comprehensive income (loss) | 11,440 | 0 | 0 | 0 | 0 | 0 | 11,440 | 2,042 | 0 | 0 | 2,042 | ||||||||||||||||||||||||
Payments for Repurchase of Common Stock | 0 | ||||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (20,599) | 0 | 0 | 0 | (20,599) | ||||||||||||||||||||||||||||||
Noncash Capital Contribution from Parent | 0 | ||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (13,741) | [1] | (13,741) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (1,428) | 0 | 0 | (1,428) | (953) | 0 | 0 | (953) | (841) | ||||||||||||
Common stock issuances related to stock plans | 117,135 | 0 | 0 | 100,947 | 16,188 | 0 | 0 | ||||||||||||||||||||||||||||
Common stock dividends declared | (628,885) | 0 | 0 | 0 | 0 | (628,885) | 0 | (15,000) | 0 | 0 | (15,000) | (91,250) | 0 | (91,250) | 0 | (26,000) | 0 | 0 | (26,000) | (74,250) | (106,610) | (21,000) | (85,610) | ||||||||||||
Preferred dividend requirements of subsidiaries | (13,741) | [1] | (13,741) | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | (1,428) | 0 | 0 | (1,428) | (953) | 0 | 0 | (953) | (841) | ||||||||||||
Other | 21 | 0 | 21 | 0 | (144) | 0 | (144) | 0 | (860) | ||||||||||||||||||||||||||
Ending Balance at Dec. 31, 2017 | $ 7,992,515 | $ 0 | $ 2,548 | $ (5,397,637) | $ 5,433,433 | $ 7,977,702 | $ (23,531) | $ 2,376,754 | $ 470 | $ 790,264 | $ 1,586,020 | $ 5,308,804 | $ 0 | $ 5,355,204 | $ (46,400) | $ 1,177,870 | $ 199,326 | $ 167 | $ 978,377 | $ 415,548 | $ 415,548 | $ 1,260,167 | $ 49,452 | $ 596,994 | $ 613,721 | $ 710,809 | $ 658,350 | $ 52,459 | |||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Consolidated Statements Of Cha9
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | |||
Preferred dividends on subsidiaries' preferred stock | $ 13.7 | $ 19.1 | $ 14.9 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Entergy Arkansas [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Entergy Louisiana [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Entergy Mississippi [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Entergy New Orleans [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Entergy Texas [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
System Energy [Member] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Entergy Corporation, Entergy Arkansas, 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 in the United States of America, all intercompany transactions have been eliminated in the consolidated financial statements. Entergy’s Registrant Subsidiaries (Entergy Arkansas, 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 also maintain accounts in accordance with FERC and other regulatory guidelines. Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. There is a regulatory liability related to the adjustment of Entergy’s net deferred income taxes that was required by the enactment in December 2017 of a change in the federal corporate income tax rate, which is discussed in Note 3 to the financial statements. Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and c |
Rate And Regulatory Matters
Rate And Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Entergy Arkansas [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Entergy Louisiana [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Entergy Mississippi [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Entergy New Orleans [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Entergy Texas [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
System Energy [Member] | |
Rate And Regulatory Matters | RATE AND REGULATORY MATTERS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Regulatory Assets and Regulatory Liabilities Regulatory assets represent probable future revenues associated with costs that Entergy expects to recover from customers through the regulatory ratemaking process under which the Utility business operates. Regulatory liabilities represent probable future reductions in revenues associated with amounts that Entergy expects to benefit customers through the regulatory ratemaking process under which the Utility business operates. In addition to the regulatory assets and liabilities that are specifically disclosed on the face of the balance sheets, the tables below provide detail of “Other regulatory assets” and “Other regulatory liabilities” that are included on Entergy’s and the Registrant Subsidiaries’ balance sheets as of December 31, 2017 and 2016 : Other Regulatory Assets Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 (a) Does not earn a return on investment, but is offset by related liabilities. (b) Does not earn a return on investment. Other Regulatory Liabilities Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 (a) Offset by related asset. (b) As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million , with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. Regulatory activity regarding the Tax Cuts and Jobs Act See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017, including its effects on Entergy’s and the Registrant Subsidiaries’ regulatory asset/liability for income taxes. After enactment of the Tax Cuts and Jobs Act the APSC issued an order that applies to investor-owned utilities in Arkansas, including Entergy Arkansas. The order requests information regarding certain effects of the Tax Cuts and Jobs Act and requires the utilities to begin, effective January 1, 2018, to record regulatory liabilities to record the effects of the Act, subject to review by the APSC, although the order acknowledges that the exact amount of tax savings and rate reductions cannot be determined at this time. Entergy Arkansas requested clarification or, in the alternative, rehearing regarding the requirement to record a regulatory liability, and also responded to the request for information. In its request for clarification Entergy Arkansas sought clarification that the amount of any regulatory liability would be determined only after the utilities are heard and present evidence on the issue, as this otherwise would be arbitrary and could implicate single-issue and retroactive ratemaking. The APSC has not responded to the request for clarification. In its response to the APSC’s request for information Entergy Arkansas states that its formula rate plan rider already provides the means for customers to realize the benefits of the Act, except for the return of unprotected excess accumulated deferred income taxes. Entergy Arkansas’s next formula rate plan filing is scheduled for July 2018. Entergy Arkansas intends to return unprotected excess accumulated deferred income taxes as expeditiously as possible, subject to a subsequent request to be made by Entergy Arkansas and approval by the APSC. After enactment of the Tax Cuts and Jobs Act the LPSC passed an agenda item requiring utilities, including Entergy Louisiana, to file reports regarding certain effects of the Act. Entergy Louisiana responded to the directive and stated in its response that it is working with the LPSC staff and other interested parties to extend its formula rate plan such that its next base rate change will occur effective September 2018, or it would file a base rate case. Entergy Louisiana went on to state that if the formula rate plan is extended Entergy Louisiana’s next adjustment of rates will reflect the new 21% federal corporate income tax rate. Entergy Louisiana stated that it is working with the LPSC staff and interested parties to determine when the tax rate reduction will be reflected in rates, along with when and how the excess accumulated deferred income taxes will be reflected in rates, and how certain tax sharing agreement customer credits will be adjusted. On February 21, 2018, the LPSC issued a special order requiring that all LPSC-jurisdictional utilities, beginning as of January 1, 2018, record as a regulatory liability (deferred liability) the amount required to reflect the reduction in the federal corporate income tax rate from 35% to 21% and the associated savings in excess accumulated deferred income taxes until such time as its rates are changed by the LPSC to reflect these federal tax savings. In the same special order, the LPSC also initiated a new rulemaking docket to consider these issues and the appropriate manner in which to flow through the benefits to Louisiana customers and to provide an opportunity for discovery and comments of jurisdictional utilities and other interested stakeholders. The rulemaking further requires the LPSC staff to report back to the LPSC as soon as practicable and preferably by the March 21, 2018, LPSC Business and Executive Session with recommendations as to how the federal tax-related benefits will be flowed through to Louisiana customers. After enactment of the Tax Cuts and Jobs Act the MPSC ordered utilities, including Entergy Mississippi, that operate under a formula rate plan to file a description by February 26, 2018, of how the Act will be reflected in the formula rate plan under which the utility operates. In addition to the description that is due February 26, 2018, Entergy Mississippi’s formula rate plan 2018 test year filing is scheduled to be filed by March 15, 2018. After enactment of the Tax Cuts and Jobs Act the City Council passed a resolution ordering Entergy New Orleans to, effective January 1, 2018, record deferred regulatory liabilities to account for the Act’s effect on Entergy New Orleans’s revenue requirement and to make a filing by mid-March 2018 regarding the Act’s effects on Entergy New Orleans’s operating income and rate base and potential mechanisms for customers to receive benefits of the Act. The resolution also directed Entergy New Orleans to request that Entergy Services file with the FERC for revisions of the Unit Power Sales Agreement and MSS-4 replacement tariffs to address the return of excess accumulated deferred income taxes. Entergy plans to make such filings with the FERC by the end of March 2018. After enactment of the Tax Cuts and Jobs Act the PUCT issued an order requiring most utilities, including Entergy Texas, beginning January 25, 2018, to record a regulatory liability for the difference between revenues collected under existing rates and revenues that would have been collected had existing rates been set using the new federal income tax rates and also for the balance of excess accumulated deferred income taxes. The order also directs the PUCT staff to investigate each investor-owned utility on a case-by-case basis to determine the appropriate mechanism to adjust its rates to reflect the changes under the Act. In both a memorandum issued prior to the open meeting when the order was discussed and during the discussions at the open meeting discussing the order, the PUCT indicated that it would consider utility earnings in determining the treatment of the liability and the effects of the Act. Entergy Texas had previously provided information to the PUCT Staff in the docket and stated that it expects the PUCT to address the lower tax expense as part of Entergy Texas’s rate case expected to be filed in May 2018. Entergy Texas also stated that it would be inappropriate for the PUCT to require a refund of the reduction in income tax expense in 2018 resulting from the Act on a retroactive basis and without a comprehensive review of Entergy Texas’s cost of service and earned return on equity. In a subsequent order issued following the February 2018 open meeting, the PUCT clarified that carrying costs need not be recorded as part of the regulatory liability. The Registrant Subsidiaries will continue to work with their respective regulators to determine the appropriate path forward in each jurisdiction regarding the effects of the Act. Fuel and purchased power cost recovery Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas are allowed to recover fuel and purchased power costs through fuel mechanisms included in electric and gas rates that are recorded as fuel cost recovery revenues. The difference between revenues collected and the current fuel and purchased power costs is generally recorded as “Deferred fuel costs” on the Utility operating companies’ financial statements. The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. Entergy Arkansas Production Cost Allocation Rider The APSC approved a production cost allocation rider for recovery from customers of the retail portion of the costs allocated to Entergy Arkansas as a result of the System Agreement proceedings, which are discussed in the “ System Agreement Cost Equalization Proceedings ” section below. These costs cause an increase in Entergy Arkansas’s deferred fuel cost balance because Entergy Arkansas pays the costs over seven months but collects the costs from customers over twelve months. In May 2014, Entergy Arkansas filed its annual redetermination of the production cost allocation rider to recover the $3 million unrecovered retail balance as of December 31, 2013 and the $67.8 million System Agreement bandwidth remedy payment made in May 2014 as a result of the compliance filing pursuant to the FERC’s February 2014 orders related to the bandwidth payments/receipts for the June - December 2005 period. In January 2015 the APSC issued an order approving Entergy Arkansas’s request for recovery of the $3 million under-recovered amount based on the true-up of the production cost allocation rider and the $67.8 million May 2014 System Agreement bandwidth remedy payment subject to refund with interest, with recovery of these payments concluding with the last billing cycle in December 2015. The APSC also found that Entergy Arkansas is entitled to carrying charges pursuant to the current terms of the production cost allocation rider. Entergy Arkansas made its compliance filing pursuant to the order in January 2015 and the APSC issued its approval order, also in January 2015. The redetermined rate went into effect with the first billing cycle of February 2015. In May 2015, Entergy Arkansas filed its annual redetermination of the production cost allocation rider, which included a $38 million payment made by Entergy Arkansas as a result of the FERC’s February 2014 order related to the comprehensive bandwidth recalculation for calendar year 2006, 2007, and 2008 production costs. The redetermined rate for the 2015 production cost allocation rider update was added to the redetermined rate from the 2014 production cost allocation rider update and the combined rate was effective with the first billing cycle of July 2015. This combined rate was effective through December 2015. The collection of the remainder of the redetermined rate for the 2015 production cost allocation rider update continued through June 2016. In May 2016, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected recovery of the production cost allocation rider true-up adjustment of the 2014 and 2015 unrecovered retail balance in the amount of $1.9 million . Additionally, the redetermined rates reflected the recovery of a $1.9 million System Agreement bandwidth remedy payment resulting from a compliance filing pursuant to the FERC’s December 2015 order related to test year 2009 production costs. The rates for the 2016 production cost allocation rider update became effective with the first billing cycle of July 2016, and the rates were effective through June 2017. In May 2017, Entergy Arkansas filed its annual redetermination pursuant to the production cost allocation rider, which reflected a credit amount of $0.3 million resulting from a compliance filing pursuant to the FERC’s September 2016 order. Additionally, the redetermined rate reflected recovery of the production cost allocation rider true-up adjustment of the 2016 unrecovered retail balance in the amount of $0.3 million . Because of the small effect of the 2017 production cost allocation rider update, Entergy Arkansas proposed to reduce the effective period of the update to one month, July 2017. After the one month collection period, rates were set to zero for all rate classes for the period August 2017 through June 2018. Energy Cost Recovery Rider Entergy Arkansas’s retail rates include an energy cost recovery rider to recover fuel and purchased energy costs in monthly customer bills. The rider utilizes the prior calendar-year energy costs and projected energy sales for the twelve-month period commencing on April 1 of each year to develop an energy cost rate, which is redetermined annually and includes a true-up adjustment reflecting the over- or under-recovery, including carrying charges, of the energy costs for the prior calendar year. The energy cost recovery rider tariff also allows an interim rate request depending upon the level of over- or under-recovery of fuel and purchased energy costs. In January 2014, Entergy Arkansas filed a motion with the APSC relating to its redetermination of its energy cost rate that was subsequently filed in March 2014. In that motion, Entergy Arkansas requested that the APSC authorize Entergy Arkansas to exclude $65.9 million of deferred fuel and purchased energy costs incurred in 2013 from the redetermination of its 2014 energy cost rate. The $65.9 million is an estimate of the incremental fuel and replacement energy costs that Entergy Arkansas incurred as a result of the ANO stator incident. Entergy Arkansas requested that the APSC authorize Entergy Arkansas to retain that amount in its deferred fuel balance, with recovery to be reviewed in a later period after more information is available regarding various claims associated with the ANO stator incident. The APSC approved Entergy Arkansas’s request in February 2014. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that docket, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a docket for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. See the “ ANO Damage, Outage, and NRC Reviews ” section in Note 8 to the financial statements for further discussion of the ANO stator incident. In March 2017, Entergy Arkansas filed its annual redetermination of its energy cost rate pursuant to the energy cost recovery rider, which reflected an increase in the rate from $0.01164 per kWh to $0.01547 per kWh. The APSC staff filed testimony in March 2017 recommending that the redetermined rate be implemented with the first billing cycle of April 2017 under the normal operation of the tariff. Accordingly, the redetermined rate went into effect on March 31, 2017 pursuant to the tariff. In July 2017 the Arkansas Attorney General requested additional information to support certain of the costs included in Entergy Arkansas’s 2017 energy cost rate redetermination. Entergy Louisiana Entergy Louisiana recovers electric fuel and purchased power costs for the billing month based upon the level of such costs incurred two months prior to the billing month. Entergy Louisiana’s purchased gas adjustments include estimates for the billing month adjusted by a surcharge or credit that arises from an annual reconciliation of fuel costs incurred with fuel cost revenues billed to customers, including carrying charges. In April 2010 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit included a review of the reasonableness of charges flowed through the fuel adjustment clause by Entergy Louisiana for the period from 2005 through 2009. The LPSC staff issued its audit report in January 2013. The LPSC staff recommended that Entergy Louisiana refund approximately $1.9 million , plus interest, to customers and realign the recovery of approximately $1 million from Entergy Louisiana’s fuel adjustment clause to base rates. The recommended refund was made by Entergy Louisiana in May 2013 in the form of a credit to customers through its fuel adjustment clause filing. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report on the lone remaining issue that nuclear dry fuel storage costs should be realigned to base rates. The parties agreed to remove that remaining issue to a separate docket because the same issue was outstanding in the Entergy Gulf States Louisiana audit for the same time period. In November 2016 the LPSC approved the resolution of this audit and the creation of a new docket for the resolution of the proper method of recovery for nuclear dry fuel storage costs. In December 2016 the LPSC opened a new docket in order to resolve the issue regarding the proper methodology for the recovery of nuclear dry fuel storage costs. In October 2017 the LPSC approved the continued recovery of the nuclear dry fuel storage costs through the fuel adjustment clause, resolving the open issue in the audit. In December 2011 the LPSC authorized its staff to initiate a proceeding to audit the fuel adjustment clause filings of Entergy Gulf States Louisiana and its affiliates. The audit included a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period 2005 through 2009. In March 2016 the LPSC staff consultant issued its audit report. In its report, the LPSC staff consultant recommended that Entergy Louisiana refund approximately $8.6 million , plus interest, to customers and realign the recovery of approximately $12.7 million from Entergy Gulf States Louisiana’s fuel adjustment clause to base rates. In September 2016 the LPSC staff filed testimony stating that it was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Subsequently, the parties entered into a settlement, which was approved by the LPSC in November 2016. The settlement recognized the dry cask storage recovery method issue, which was addressed in the separate proceeding approved by the LPSC in October 2017, provided for a refund of $5 million , which was made to legacy Entergy Gulf States Louisiana customers in December 2016, and resolved all other issues raised in the audit. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Gulf States Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Gulf States Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In July 2014 the LPSC authorized its staff to initiate an audit of Entergy Louisiana’s fuel adjustment clause filings. The audit includes a review of the reasonableness of charges flowed by Entergy Louisiana through its fuel adjustment clause for the period from 2010 through 2013. Discovery commenced in July 2015. No report of audit has been issued. In June 2016 the LPSC staff provided notice of audits of Entergy Louisiana’s fuel adjustment clause filings and purchased gas adjustment clause filings. In recognition of the business combination that occurred in 2015, the audit notice was issued to Entergy Louisiana and will also include a review of charges to legacy Entergy Gulf States Louisiana customers prior to the business combination. The audit includes a review of the reasonableness of charges flowed through Entergy Louisiana’s fuel adjustment clause for the period from 2014 through 2015 and charges flowed through Entergy Louisiana’s purchased gas adjustment clause for the period from 2012 through 2015. Discovery commenced in March 2017. No report of audit has been issued. Due to higher fuel costs for the operating month of January 2018 resulting in part from recent cold weather, higher Henry Hub prices, and an increase in total fuel and purchased power costs, Entergy Louisiana plans to cap the average fuel adjustment charge to be billed in March 2018 at $0.03060 per kWh and to defer billing of all fuel costs in excess of the capped amounts by including such costs in the over- or under-recovery account. Entergy Mississippi Entergy Mississippi’s rate schedules include an energy cost recovery rider that is adjusted annually to reflect accumulated over- or under-recoveries. Entergy Mississippi’s fuel cost recoveries are subject to annual audits conducted pursuant to the authority of the MPSC. Entergy Mississippi had a deferred fuel over-recovery balance of $58.3 million as of May 31, 2015, along with an under-recovery balance of $12.3 million under the power management rider. Pursuant to those tariffs, in July 2015, Entergy Mississippi filed for interim adjustments und |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Entergy Arkansas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Entergy Louisiana [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Entergy Mississippi [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Entergy New Orleans [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Entergy Texas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
System Energy [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Total income taxes for Entergy Corporation and Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before income taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers, tax credit carryovers, and other tax attributes reflected on income tax returns. Because it is more likely than not that the benefit from certain state net operating loss and credit carryovers will not be utilized, valuation allowances of $106 million as of December 31, 2017 and $62 million as of December 31, 2016 have been provided on the deferred tax assets relating to these state net operating loss and credit carryovers. Additionally, valuation allowances totaling $31 million as of December 31, 2017 and $42.3 million as of December 31, 2016 have been provided on deferred tax assets related to federal and state jurisdictions in which Entergy does not currently expect to be able to utilize separate company tax return losses, preventing realization of such deferred tax assets. Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 As a result of the accounting for uncertain tax positions, the amount of the deferred tax assets reflected in the financial statements is less than the amount of the tax effect of the federal and state net operating loss carryovers and tax credit carryovers. Unrecognized tax benefits Accounting standards establish a “more-likely-than-not” recognition threshold that must be met before a tax benefit can be recognized in the financial statements. If a tax deduction is taken on a tax return, but does not meet the more-likely-than-not recognition threshold, an increase in income tax liability, above what is payable on the tax return, is required to be recorded. A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns The balances of unrecognized tax benefits include $1,462 million , $1,240 million , and $955 million as of December 31, 2017 , 2016 , and 2015 , respectively, which, if recognized, would lower the effective income tax rates. Because of the effect of deferred tax accounting, the remaining balances of unrecognized tax benefits of $3,410 million , $2,670 million , and $1,657 million as of December 31, 2017 , 2016 , and 2015 , respectively, if disallowed, would not affect the annual effective income tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. Entergy accrues interest expense, if any, related to unrecognized tax benefits in income tax expense. Entergy’s December 31, 2017 , 2016 , and 2015 accrued balance for the possible payment of interest is approximately $38 million , $30 million , and $27 million , respectively. A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 The Registrant Subsidiaries accrue interest and penalties related to unrecognized tax benefits in income tax expense. Penalties have not been accrued. Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 Income Tax Audits Entergy and its subsidiaries file U.S. federal and various state and foreign income tax returns. IRS examinations are complete for years before 2012. All state taxing authorities’ examinations are complete for years before 2010. Entergy regularly negotiates with the IRS to achieve settlements. The resolution of audit issues could result in significant changes to the amounts of unrecognized tax benefits in the next twelve months. 2006-2007 IRS Audit In the first quarter 2015, the IRS finalized tax and interest computations from the 2006-2007 audit that resulted in a reversal of Entergy’s provision for uncertain tax positions related to accrued interest of approximately $20 million , including decreases of approximately $4 million for Entergy Arkansas, $11 million for Entergy Louisiana, and $1 million for System Energy. 2008-2009 IRS Audit In the fourth quarter 2009, Entergy filed Applications for Change in Accounting Method (the “2009 CAM”) for tax purposes with the IRS for certain costs under Section 263A of the Internal Revenue Code. In the Applications, Entergy proposed to treat the nuclear decommissioning liability associated with the operation of its nuclear power plants as a production cost properly includable in cost of goods sold. The effect of the 2009 CAM was a $5.7 billion reduction in 2009 taxable income. The 2009 CAM was adjusted to $9.3 billion in 2012. In the fourth quarter 2012, the IRS disallowed the reduction to 2009 taxable income related to the 2009 CAM. In the third quarter 2013, the Internal Revenue Service issued its Revenue Agent Report (RAR) for the tax years 2008-2009. As a result of the issuance of this RAR, Entergy and the IRS resolved all of the 2008-2009 issues described above except for the 2009 CAM. Entergy disagreed with the IRS’s disallowance of the 2009 CAM and filed a protest with the IRS Appeals Division in October 2013. In August 2015, Entergy and the IRS agreed on the treatment of the 2009 position regarding nuclear decommissioning liabilities from the 2008-2009 audit. The agreement provides that Entergy is entitled to deduct approximately $118 million of the $9.3 billion claimed in 2009. The agreement effectively settled all matters pertaining to the 2009 tax year and increased Entergy’s 2009 federal income tax liability by $2.4 million . 2010-2011 IRS Audit The IRS completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 RAR in June 2016. Entergy agreed to all proposed adjustments contained in the RAR. As a result of the issuance of the RAR, Entergy Louisiana was able to recognize previously unrecognized tax benefits as follows: • Entergy and the IRS agreed that $148.6 million of the proceeds received by Entergy Louisiana in 2010 from the Louisiana Utilities Restoration Corporation (LURC), an instrumentality of the State of Louisiana, for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Act 55 of the Louisiana Regular Session of 2007 (Louisiana Act 55) were not taxable. Because the treatment of the financing is settled, Entergy recognized previously unrecognized tax benefits totaling $63.5 million , of which Entergy Louisiana recorded $61.6 million . Entergy Louisiana also accrued a regulatory liability of $16.1 million ( $9.9 million net-of-tax) in accordance with the terms of Entergy Louisiana’s previous settlement agreement approved by the LPSC regarding Entergy Louisiana’s obligation to pay to customers savings associated with the Act 55 financing. • Entergy and the IRS agreed upon the tax treatment of Entergy Louisiana’s regulatory liability related to the Vidalia purchased power agreement. As a result, Entergy Louisiana recognized a previously unrecognized tax benefit of $74.5 million . Other Tax Matters Tax Cuts and Jobs Act Deferred tax liabilities and assets have been adjusted for the effect of the enactment of H.R. 1, also known as the Tax Cuts and Jobs Act (the Act), signed by President Trump on December 22, 2017. The most significant effect of the Act for Entergy and the Registrant Subsidiaries is the change in the federal corporate income tax rate from 35% to 21% , effective January 1, 2018. Other significant provisions and their effect on Entergy and the Registrant Subsidiaries are summarized below. The Act limits the deduction for net business interest expense in certain circumstances. The new limitation does not apply to interest expense, however, that is properly allocable to a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transports gas or steam by pipeline if the rates for such furnishing or sale are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the potential interest expense disallowance is not expected to have a material effect on Entergy’s or the Registrant Subsidiaries’ interest deductions. The Act extends and modifies the additional first-year depreciation deduction (bonus depreciation). The Act excludes from bonus-eligible qualified property, however, any property used in a trade or business that furnishes or sells electrical energy, gas, or steam through a local distribution system, or transportation of gas or steam by pipeline if the rates for furnishing those services are subject to ratemaking by a government entity or instrumentality or by a public utility commission. Accordingly, the extension of bonus depreciation and modifications generally do not apply to Entergy or the Registrant Subsidiaries. The Act limits the net operating loss (NOL) deduction for a given year to 80% of taxable income, effective with respect to losses arising in tax years beginning after December 31, 2017. Only NOLs generated after December 31, 2017 are subject to the 80% limitation. Prior law generally provided a two-year carryback and 20-year carryforward for NOLs. The Act provides for the indefinite carryforward of NOLs arising in tax years ending after December 31, 2017, as opposed to the current 20-year carryforward. Because of the indefinite carryforward, the new limitations on NOL utilization are not expected to have a material effect on Entergy or the Registrant Subsidiaries. The Act also modified Internal Revenue Code section 162(m), which limits the deduction for compensation with respect to certain covered employees to no more than $1 million per year. The Act includes performance-based compensation in the annual computation of the section 162 limitation. The changes are expected to result in an increase in disallowed compensation expense, but this limitation is not expected to have a material effect on Entergy or the Registrant Subsidiaries. Other provisions that are not expected to have a material effect on Entergy or the Registrant Subsidiaries include the following: • repeal of the corporate alternative minimum tax (AMT), • modification to the capital contribution rules under Internal Revenue Code section 118, • repeal of domestic production activities deduction, and • fundamental changes to the taxation of multinational entities. With respect to the federal corporate income tax rate change from 35% to 21% , Entergy and the Registrant Subsidiaries believe it is probable that a significant portion of the decrease in the net accumulated deferred income tax liability, which is often referred to as “excess ADIT,” will be returned to customers. Accordingly, it is appropriate for Entergy and the Registrant Subsidiaries to establish a regulatory liability for the probable reduction in future revenue. Entergy’s December 31, 2017 balance sheet reflects a regulatory liability of $2.9 billion due to a re-measurement of deferred tax assets and liabilities resulting from the income tax rate change. Entergy’s regulatory liability for income taxes includes a gross-up at the applicable tax rate because of the effect that excess ADIT has on the ratemaking formula. The regulatory liability for income taxes includes the effect of a) the reduction of the net deferred tax liability resulting in excess ADIT, b) the tax gross-up of excess ADIT, and c) the effect of the new tax rate on the previous net regulatory asset for income taxes. For the same reasons, the Registrant Subsidiaries’ December 31, 2017 balance sheets reflect net regulatory liabilities for income taxes as follows: Entergy Arkansas, $986 million ; Entergy Louisiana, $725 million ; Entergy Mississippi, $411 million ; Entergy New Orleans, $119 million ; Entergy Texas, $413 million ; and System Energy, $246 million . Excess ADIT is generally classified into two categories: 1) the portion that is subject to the normalization requirements of the Act, i.e., “protected”, and 2) the portion that is not subject to such normalization provisions, referred to as “unprotected”. The Act provides that the normalization method of accounting for income taxes is required for excess ADIT associated with public utility property. The Act provides for the use of the average rate assumption method (ARAM) for the determination of the timing of the return of excess ADIT associated with such property. Under ARAM, the excess ADIT is reduced over the remaining life of the asset. Remaining asset lives vary for each Registrant Subsidiary, but the average life of public utility property is typically 30 years or longer. Entergy will return the protected portion of the excess ADIT in conformity with the normalization requirements. The Registrant Subsidiaries’ net regulatory liability for income taxes includes protected excess ADIT as follows: Entergy Arkansas, $554 million ; Entergy Louisiana, $782 million ; Entergy Mississippi, $274 million ; Entergy New Orleans, $71 million ; Entergy Texas, $276 million ; and System Energy, $217 million . The return period of the unprotected excess ADIT is subject to the regulatory process in each jurisdiction and has yet to be determined. Further, a portion of the unprotected excess ADIT amount is associated with amounts previously securitized and may be treated differently than other unprotected excess ADIT consistent with applicable agreements and/or not be subject to the same schedule for the return to customers as the remaining unprotected excess ADIT. The Registrant Subsidiaries’ net regulatory liability for income taxes includes unprotected excess ADIT as follows: Entergy Arkansas, $467 million ; Entergy Louisiana, $410 million ; Entergy Mississippi, $162 million ; Entergy New Orleans, $37 million ; Entergy Texas, $198 million ; and System Energy, $76 million . In addition to the protected and unprotected excess ADIT amounts, the net regulatory liability for income |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Entergy Arkansas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Entergy Louisiana [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Entergy Mississippi [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Entergy New Orleans [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Entergy Texas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
System Energy [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, AND SHORT-TERM BORROWINGS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation has in place a credit facility that has a borrowing capacity of $3.5 billion and expires in August 2022. The facility permits the issuance of letters of credit against $20 million of the total borrowing capacity of the credit facility. The commitment fee is currently 0.225% of the undrawn commitment amount. Commitment 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, 2017 was 2.55% 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, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 Entergy Corporation’s credit facility requires Entergy to maintain a consolidated debt ratio, as defined, 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 Corporation has a commercial paper program with a Board-approved program limit of up to $2 billion . As of December 31, 2017 , Entergy Corporation had $1.467 billion of commercial paper outstanding. The weighted-average interest rate for the year ended December 31, 2017 was 1.49% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. The commitment fees on the credit facilities range from 0.075% to 0.275% of the undrawn commitment amount. Each of the credit facilities requires the Registrant Subsidiary borrower to maintain a debt ratio, as defined, of 65% or less of its total capitalization. Each Registrant Subsidiary is in compliance with this covenant. In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. The short-term borrowings of the Registrant Subsidiaries are limited to amounts authorized by the FERC. The current FERC-authorized limits are effective through October 31, 2019. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool and from other internal short-term borrowing arrangements. The money pool and the other internal borrowing arrangements are inter-company borrowing arrangements designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from internal and external short term borrowings combined may not exceed the FERC-authorized limits. The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation with a borrowing capacity of $145 million that expires in November 2020. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides working capital to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. The commitment fee is currently 0.20% of the undrawn commitment amount. As of December 31, 2017 , $104 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the year ended December 31, 2017 was 2.64% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also had an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million that expired in January 2018. As of December 31, 2017 , there were no cash borrowings outstanding under the credit facility. The estimated interest rate for the year ended December 31, 2017 would have been 3.07% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 17 to the financial statements for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIE). To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . The commitment fees on the credit facilities are 0.10% of the undrawn commitment amount for the Entergy Arkansas, Entergy Louisiana, and System Energy VIEs. Each credit facility requires the respective lessee of nuclear fuel (Entergy Arkansas, Entergy Louisiana, or Entergy Corporation as guarantor for System Energy) to maintain a consolidated debt ratio, as defined, of 70% or less of its total capitalization. The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million In accordance with regulatory treatment, interest on the nuclear fuel company variable interest entities’ credit facilities, commercial paper, and long-term notes payable is reported in fuel expense. Entergy Arkansas, Entergy Louisiana, and System Energy each have obtained long-term financing authorizations from the FERC that extend through October 2019 for issuances by its nuclear fuel company variable interest entities. |
Long - Term Debt
Long - Term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Arkansas [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Louisiana [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Mississippi [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy New Orleans [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Entergy Texas [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
System Energy [Member] | |
Long - Term Debt | LONG - TERM DEBT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 In November 2000, Entergy’s non-utility nuclear business purchased the FitzPatrick and Indian Point 3 power plants in a seller-financed transaction. As part of the purchase agreement with NYPA, Entergy recorded a liability representing the net present value of the payments Entergy would be liable to NYPA for each year that the FitzPatrick and Indian Point 3 power plants would run beyond their respective original NRC license expiration date. In October 2015, Entergy announced a planned shutdown of FitzPatrick at the end of its fuel cycle. As a result of the announcement, Entergy reduced this liability by $26.4 million pursuant to the terms of the purchase agreement. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As part of the trust transfer agreement, the original decommissioning agreements were amended, and the Entergy subsidiaries’ obligation to make additional license extension payments to NYPA was eliminated. In the third quarter 2016, Entergy removed the note payable of $35.1 million from the consolidated balance sheet. Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2019. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has also obtained long-term financing authorization from the City Council that extends through June 2018, as the City Council has concurrent jurisdiction with the FERC over such issuances. Capital Funds Agreement Pursuant to an agreement with certain creditors, Entergy Corporation has agreed to supply System Energy with sufficient capital to: • maintain System Energy’s equity capital at a minimum of 35% of its total capitalization (excluding short-term debt); • permit the continued commercial operation of Grand Gulf; • pay in full all System Energy indebtedness for borrowed money when due; and • enable System Energy to make payments on specific System Energy debt, under a supplement to the agreement assigning System Energy’s rights in the agreement as security for the specific debt. Long-term debt for the Registrant Subsidiaries as of December 31, 2017 and 2016 consisted of: 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 Entergy Arkansas Securitization Bonds In June 2010 the APSC issued a financing order authorizing the issuance of bonds to recover Entergy Arkansas’s January 2009 ice storm damage restoration costs, including carrying costs of $11.5 million and $4.6 million of up-front financing costs. In August 2010, Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, issued $124.1 million of storm cost recovery bonds. The bonds have a coupon of 2.30% . Although the principal amount is not due until August 2021, Entergy Arkansas Restoration Funding expects to make principal payments on the bonds over the next three years in the amount of $14.1 million for 2018 , $14.4 million for 2019 , and $7.3 million for 2020 . With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. Entergy Louisiana Securitization Bonds – Little Gypsy In August 2011 the LPSC issued a financing order authorizing the issuance of bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. In September 2011, Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, issued $207.2 million of senior secured investment recovery bonds. The bonds have an interest rate of 2.04% . Although the principal amount is not due until September 2023, Entergy Louisiana Investment Recovery Funding expects to make principal payments on the bonds over the next four years in the amounts of $22.3 million for 2018 , $22.7 million for 2019 , $23.2 million for 2020 , and $11 million for 2021 . With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. In accordance with the financing order, Entergy Louisiana will apply the proceeds it received from the sale of the investment recovery property as a reimbursement for previously-incurred investment recovery costs. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. Entergy New Orleans Securitization Bonds - Hurricane Isaac In May 2015 the City Council issued a financing order authorizing the issuance of securitization bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs of $31.8 million , including carrying costs, the costs of funding and replenishing the storm recovery reserve in the amount of $63.9 million , and approximately $3 million of up-front financing costs associated with the securitization. In July 2015, Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly owned and consolidated by Entergy New Orleans, issued $98.7 million of storm cost recovery bonds. The bonds have a coupon of 2.67% . Although the principal amount is not due until June 2027, Entergy New Orleans Storm Recovery Funding expects to make principal payments on the bonds over the next five years in the amounts of $11 million for 2018 , $11.2 million for 2019 , $11.6 million for 2020 , $11.9 million for 2021 , and $12.2 million for 2022 . With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. Entergy Texas Securitization Bonds - Hurricane Rita In April 2007 the PUCT issued a financing order authorizing the issuance of securitization bonds to recover $353 million of Entergy Texas’s Hurricane Rita reconstruction costs and up to $6 million of transaction costs, offset by $32 million of related deferred income tax benefits. In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Gulf States Reconstruction Funding expects to make principal payments on the bonds over the next four years in the amounts of $29.2 million for 2018 , $30.9 million for 2019 , $32.8 million for 2020 , and $17.5 million for 2021 . All of the scheduled principal payments for 2018-2021 are for Tranche A-3. Tranche A-1 and Tranche A-2 have been paid. With the proceeds, Entergy Gulf States Reconstruction Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Gulf States Reconstruction Funding, including the transition property, and the creditors of Entergy Gulf States Reconstruction Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Gulf States Reconstruction Funding except to remit transition charge collections. Entergy Texas Securitization Bonds - Hurricane Ike and Hurricane Gustav In September 2009 the PUCT authorized the issuance of securitization bonds to recover $566.4 million of Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs, plus carrying costs and transaction costs, offset by insurance proceeds. In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . Although the principal amount of each tranche is not due until the dates given above, Entergy Texas Restoration Funding expects to make principal payments on the bonds over the next five years in the amount of $45.8 million for 2018 , $47.6 million for 2019 , $49.8 million for 2020 , $52 million for 2021 , and $54.3 million for 2022 . Of the scheduled principal payments for 2018, $30.8 million are for Tranche A-2 and $15 million are for Tranche A-3. All of the scheduled principle payments for 2019-2022 are for Tranche A-3. Tranche A-1 has been paid. With the proceeds, Entergy Texas Restoration Funding purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of Entergy Texas Restoration Funding, including the transition property, and the creditors of Entergy Texas Restoration Funding do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to Entergy Texas Restoration Funding except to remit transition charge collections. |
Preferred Equity
Preferred Equity | 12 Months Ended |
Dec. 31, 2017 | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, 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 non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2017 and 2016 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 2017 2016 2017 2016 2017 2016 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-4.72% Series 313,500 313,500 313,500 313,500 $31,350 $31,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 — 15,000 — 14,398 — Entergy Mississippi, 4.36%-4.92% Series 203,807 203,807 203,807 203,807 20,381 20,381 Entergy New Orleans, 4.36%-5.56% Series — 197,798 — 197,798 — 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 642,307 825,105 642,307 825,105 173,554 178,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (c) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 892,307 1,075,105 892,307 1,075,105 $197,803 $203,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $602 thousand of preferred stock issuance costs. (c) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In November 2017, Entergy Utility Holding Company, LLC issued 15,000 shares of $1,000 par value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2017. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2017 and 2016 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 Total without sinking fund 313,500 313,500 $31,350 $31,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Total without sinking fund 203,807 203,807 $20,381 $20,381 Shares Authorized and Outstanding Call Price per 2017 2016 2017 2016 2017 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series (a) — 60,000 $— $6,000 $— 4.75% Series (a) — 77,798 — 7,780 $— 5.56% Series (a) — 60,000 — 6,000 $— Total without sinking fund — 197,798 $— $19,780 (a) In November 2017, Entergy New Orleans redeemed its $6 million of 4.36% Series, $7.8 million of 4.75% Series, and $6 million of 5.56% Series of preferred membership interests as part of a multi-step internal restructuring. |
Entergy Arkansas [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, 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 non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2017 and 2016 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 2017 2016 2017 2016 2017 2016 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-4.72% Series 313,500 313,500 313,500 313,500 $31,350 $31,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 — 15,000 — 14,398 — Entergy Mississippi, 4.36%-4.92% Series 203,807 203,807 203,807 203,807 20,381 20,381 Entergy New Orleans, 4.36%-5.56% Series — 197,798 — 197,798 — 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 642,307 825,105 642,307 825,105 173,554 178,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (c) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 892,307 1,075,105 892,307 1,075,105 $197,803 $203,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $602 thousand of preferred stock issuance costs. (c) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In November 2017, Entergy Utility Holding Company, LLC issued 15,000 shares of $1,000 par value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2017. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2017 and 2016 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 Total without sinking fund 313,500 313,500 $31,350 $31,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Total without sinking fund 203,807 203,807 $20,381 $20,381 Shares Authorized and Outstanding Call Price per 2017 2016 2017 2016 2017 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series (a) — 60,000 $— $6,000 $— 4.75% Series (a) — 77,798 — 7,780 $— 5.56% Series (a) — 60,000 — 6,000 $— Total without sinking fund — 197,798 $— $19,780 (a) In November 2017, Entergy New Orleans redeemed its $6 million of 4.36% Series, $7.8 million of 4.75% Series, and $6 million of 5.56% Series of preferred membership interests as part of a multi-step internal restructuring. |
Entergy Mississippi [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, 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 non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2017 and 2016 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 2017 2016 2017 2016 2017 2016 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-4.72% Series 313,500 313,500 313,500 313,500 $31,350 $31,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 — 15,000 — 14,398 — Entergy Mississippi, 4.36%-4.92% Series 203,807 203,807 203,807 203,807 20,381 20,381 Entergy New Orleans, 4.36%-5.56% Series — 197,798 — 197,798 — 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 642,307 825,105 642,307 825,105 173,554 178,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (c) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 892,307 1,075,105 892,307 1,075,105 $197,803 $203,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $602 thousand of preferred stock issuance costs. (c) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In November 2017, Entergy Utility Holding Company, LLC issued 15,000 shares of $1,000 par value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2017. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2017 and 2016 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 Total without sinking fund 313,500 313,500 $31,350 $31,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Total without sinking fund 203,807 203,807 $20,381 $20,381 Shares Authorized and Outstanding Call Price per 2017 2016 2017 2016 2017 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series (a) — 60,000 $— $6,000 $— 4.75% Series (a) — 77,798 — 7,780 $— 5.56% Series (a) — 60,000 — 6,000 $— Total without sinking fund — 197,798 $— $19,780 (a) In November 2017, Entergy New Orleans redeemed its $6 million of 4.36% Series, $7.8 million of 4.75% Series, and $6 million of 5.56% Series of preferred membership interests as part of a multi-step internal restructuring. |
Entergy New Orleans [Member] | |
Preferred Equity | PREFERRED EQUITY (Entergy Corporation, Entergy Arkansas, 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 non-controlling interest for Entergy Corporation subsidiaries as of December 31, 2017 and 2016 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 2017 2016 2017 2016 2017 2016 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-4.72% Series 313,500 313,500 313,500 313,500 $31,350 $31,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 — 15,000 — 14,398 — Entergy Mississippi, 4.36%-4.92% Series 203,807 203,807 203,807 203,807 20,381 20,381 Entergy New Orleans, 4.36%-5.56% Series — 197,798 — 197,798 — 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 642,307 825,105 642,307 825,105 173,554 178,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (c) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 892,307 1,075,105 892,307 1,075,105 $197,803 $203,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $602 thousand of preferred stock issuance costs. (c) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. In November 2017, Entergy Utility Holding Company, LLC issued 15,000 shares of $1,000 par value 6.25% Series B Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after February 28, 2038, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In October 2015, Entergy Utility Holding Company, LLC issued 110,000 shares of $1,000 par value 7.5% Series A Preferred Membership Interests, all of which are outstanding as of December 31, 2017. The distributions are cumulative and payable quarterly. These units are redeemable on or after January 1, 2036, at Entergy Utility Holding Company, LLC’s option, at the fixed redemption price of $1,000 per share. In December 2013, Entergy Finance Holding, Inc. issued 250,000 shares of $100 par value 8.75% Series Preferred Stock, all of which are outstanding as of December 31, 2017. The dividends are cumulative and payable quarterly. The preferred stock is redeemable on or after December 16, 2023, at Entergy Finance Holding, Inc.’s option, at the fixed redemption price of $100 per share. The number of shares and units authorized and outstanding and dollar value of preferred stock for Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans as of December 31, 2017 and 2016 are presented below. All series of the Utility operating companies’ preferred stock are redeemable at the respective company’s option at the call prices presented. Dividends and distributions paid on all of Entergy’s preferred stock and membership interests series are eligible for the dividends received deduction. Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 Total without sinking fund 313,500 313,500 $31,350 $31,350 Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Total without sinking fund 203,807 203,807 $20,381 $20,381 Shares Authorized and Outstanding Call Price per 2017 2016 2017 2016 2017 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series (a) — 60,000 $— $6,000 $— 4.75% Series (a) — 77,798 — 7,780 $— 5.56% Series (a) — 60,000 — 6,000 $— Total without sinking fund — 197,798 $— $19,780 (a) In November 2017, Entergy New Orleans redeemed its $6 million of 4.36% Series, $7.8 million of 4.75% Series, and $6 million of 5.56% Series of preferred membership interests as part of a multi-step internal restructuring. |
Common Equity
Common Equity | 12 Months Ended |
Dec. 31, 2017 | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Arkansas [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Louisiana [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Mississippi [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy New Orleans [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Texas [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
System Energy [Member] | |
Common Equity | COMMON EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Common Stock Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 Entergy Corporation reissues treasury shares to meet the requirements of the Stock Plan for Outside Directors (Directors’ Plan), three Equity Ownership Plans 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 dollar value of shares of Entergy Corporation common stock. In October 2010 the Board granted authority for a $500 million share repurchase program. As of December 31, 2017 , $350 million of authority remains under the $500 million share repurchase program. Dividends declared per common share were $3.50 in 2017 , $3.42 in 2016 , and $3.34 in 2015 . System Energy paid its parent, Entergy Corporation, distributions out of its common stock of $21 million in 2017 and $40 million in 2016. Retained Earnings and Dividend Restrictions Provisions within the articles of incorporation relating to preferred stock of each of Entergy Arkansas and Entergy Mississippi could restrict the payment of cash dividends or other distributions on their common and preferred equity if such payment were to occur when, or result in, a ratio of common stock equity to total capitalization of 25% or less. Entergy Corporation received dividend payments and distributions from subsidiaries totaling $201 million in 2017 , $165 million in 2016 , and $615 million in 2015 . Comprehensive Income Accumulated other comprehensive income (loss) is included in the equity section of the balance sheets of Entergy and Entergy Louisiana. The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Entergy Arkansas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Entergy Louisiana [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Entergy Mississippi [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Entergy New Orleans [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Entergy Texas [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
System Energy [Member] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES (Entergy Corporation, Entergy Arkansas, 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 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 $122.9 million in 2017 , $158.7 million in 2016 , and $146 million in 2015 . If the maximum percentage ( 94% ) of the energy is made available to Entergy Louisiana, current production projections would require estimated payments of approximately $129 million in 2018 , and a total of $1.68 billion for the years 2019 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 10 years, beginning in October 2002. In October 2011 the LPSC approved a settlement under which Entergy Louisiana agreed to provide credits to customers by crediting billings an additional $20.235 million per year for 15 years beginning January 2012. Entergy Louisiana recorded a regulatory charge and a corresponding regulatory liability to reflect this obligation. The settlement agreement allowed for an adjustment to the credits if, among other things, there was a change in the applicable federal or state income tax rate. As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% , the Vidalia purchased power regulatory liability was reduced by $30.5 million , with a corresponding increase to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. ANO Damage, Outage, and NRC Reviews In March 2013, during a scheduled refueling outage at ANO 1, a contractor-owned and operated heavy-lifting apparatus collapsed while moving the generator stator out of the turbine building. The collapse resulted in the death of an ironworker and injuries to several other contract workers, caused ANO 2 to shut down, and damaged the ANO turbine building. The total cost of assessment, restoration of off-site power, site restoration, debris removal, and replacement of damaged property and equipment was approximately $ 95 million . Entergy Arkansas is pursuing its options for recovering damages that resulted from the stator drop, including its insurance coverage and legal action. During 2014, Entergy Arkansas collected $50 million from Nuclear Electric Insurance Limited (NEIL), a mutual insurance company that provides property damage coverage to the members’ nuclear generating plants. Litigation remains pending. In addition, Entergy Arkansas incurred replacement power costs for ANO 2 power during its outage and incurred incremental replacement power costs for ANO 1 power because the outage extended beyond the originally-planned duration of the refueling outage. In February 2014 the APSC approved Entergy Arkansas’s request to exclude from the calculation of its revised energy cost rate $65.9 million of deferred fuel and purchased energy costs incurred in 2013 as a result of the ANO stator incident. The APSC authorized Entergy Arkansas to retain the $65.9 million in its deferred fuel balance with recovery to be reviewed in a later period after more information regarding various claims associated with the ANO stator incident is available. In July 2017, Entergy Arkansas filed for a change in rates pursuant to its formula rate plan rider. In that proceeding, the APSC approved a settlement agreement agreed upon by the parties, including a provision that requires Entergy Arkansas to initiate a proceeding for the purpose of recovering funds currently withheld from rates and related to the stator incident, including the $65.9 million of deferred fuel and purchased energy costs previously noted, subject to certain timelines and conditions set forth in the settlement agreement. Shortly after the stator incident, the NRC deployed an augmented inspection team to review the plant’s response. In July 2013 a second team of NRC inspectors visited ANO to evaluate certain items that were identified as requiring follow-up inspection to determine whether performance deficiencies existed. In March 2014 the NRC issued an inspection report on the follow-up inspection that discussed two preliminary findings, one that was preliminarily determined to be “red with high safety significance” for Unit 1 and one that was preliminarily determined to be “yellow with substantial safety significance” for Unit 2, with the NRC indicating further that these preliminary findings may warrant additional regulatory oversight. This report also noted that one additional item related to flood barrier effectiveness was still under review. In June 2014 the NRC classified both findings as “yellow with substantial safety significance.” In March 2015, after several NRC inspections and regulatory conferences, the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column,” or Column 4, of the NRC’s Reactor Oversight Process Action Matrix. Placement into Column 4 requires significant additional NRC inspection activities at the ANO site, including a review of the site’s root cause evaluation associated with flood barrier effectiveness and stator issues, an assessment of the effectiveness of the site’s corrective action program, an additional design basis inspection, a safety culture assessment, and possibly other inspection activities consistent with the NRC’s Inspection Procedure. Entergy Arkansas incurred incremental costs of approximately $53 million in 2015 to prepare for the NRC inspection that began in early 2016. Excluding remediation and response costs that may result from the additional NRC inspection activities, Entergy Arkansas also incurred approximately $44 million in 2016 in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expense is expected to be ongoing annually after 2016, until ANO transitions out of Column 4. The NRC completed the supplemental inspection required for ANO’s Column 4 designation in February 2016, and published its inspection report in June 2016. In its inspection report, the NRC concluded that the ANO site is being operated safely and that Entergy understands the depth and breadth of performance concerns associated with ANO’s performance decline. Also in June 2016, the NRC issued a confirmatory action letter to confirm the actions Entergy Arkansas has taken and will continue to take to improve performance at ANO. The NRC will verify the completion of those actions through quarterly follow-up inspections, the results of which will determine when ANO should transition out of Column 4. There have been no significant issues arising from the follow-up inspections. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column,” or Column 4, of its Reactor Oversight Process Action Matrix due to its finding of continuing weaknesses in Pilgrim’s corrective action program that contributed to repeated unscheduled shutdowns and equipment failures. The preliminary estimate of direct costs of Pilgrim’s response to a planned NRC enhanced inspection ranges from $45 million to $60 million , of which $50 million has been incurred through the end of 2017 in operation and maintenance expense. The estimate does not include potential capital expenditures, which will be charged directly to expense when incurred, or other costs to address issues that may arise in the inspection. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision to place the plant in Column 4. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. See Note 14 to the financial statements for discussion of the impairment of the Pilgrim plant and related long-lived assets. Spent Nuclear Fuel Litigation Under the Nuclear Waste Policy Act of 1982, the DOE is required, for a specified fee, to construct storage facilities for, and to dispose of, all spent nuclear fuel and other high-level radioactive waste generated by domestic nuclear power reactors. Entergy’s nuclear owner/licensee subsidiaries have been charged fees for the estimated future disposal costs of spent nuclear fuel in accordance with the Nuclear Waste Policy Act of 1982. The affected Entergy companies entered into contracts with the DOE, whereby the DOE is to furnish disposal services at a cost of one mill per net kWh generated and sold after April 7, 1983, plus a one-time fee for generation prior to that date. Entergy considers all costs incurred for the disposal of spent nuclear fuel, except accrued interest, to be proper components of nuclear fuel expense. Provisions to recover such costs have been or will be made in applications to regulatory authorities for the Utility plants. Following the defunding of the Yucca Mountain spent fuel repository program, the National Association of Regulatory Utility Commissioners and others sued the government seeking cessation of collection of the one mill per net kWh generated and sold after April 7, 1983 fee. In November 2013 the D.C. Circuit Court of Appeals ordered the DOE to submit a proposal to Congress to reset the fee to zero until the DOE complies with the Nuclear Waste Policy Act or Congress enacts an alternative waste disposal plan. In January 2014 the DOE submitted the proposal to Congress under protest, and also filed a petition for rehearing with the D.C. Circuit. The petition for rehearing was denied. The zero spent fuel fee went into effect prospectively in May 2014. Management cannot predict the potential timing or magnitude of future spent fuel fee revisions that may occur. Because the DOE has not begun accepting spent fuel, it is in non-compliance with the Nuclear Waste Policy Act of 1982 and has breached its spent fuel disposal contracts. As a result of the DOE’s failure to begin disposal of spent nuclear fuel in 1998 pursuant to the Nuclear Waste Policy Act of 1982 and the spent fuel disposal contracts, Entergy’s nuclear owner/licensee subsidiaries have incurred and will continue to incur damages. Beginning in November 2003 these subsidiaries have pursued litigation to recover the damages caused by the DOE’s delay in performance. Following are details of final judgments recorded by Entergy in 2016 related to Entergy’s nuclear owner licensee subsidiaries’ litigation with the DOE. In December 2015 the U.S. Court of Federal Claims issued a judgment in the amount of $81 million in favor of Entergy Nuclear Indian Point 3 and Entergy Nuclear FitzPatrick in the first round Indian Point 3/FitzPatrick damages case, and Entergy received the payment from the U.S. Treasury in June 2016. The effect of recording the Indian Point 3 proceeds was a reduction to plant, other operation and maintenance expense, and depreciation expense. The Indian Point 3 damages awarded included $45 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $45 million, Entergy recorded $8 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 3 plant asset balance by the remaining $37 million . The effect of recording the FitzPatrick proceeds was a reduction to plant and other operation and maintenance expense. The FitzPatrick damages awarded included $32 million related to costs previously capitalized and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $32 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense, a $10 million reduction to bring its remaining FitzPatrick plant asset balance to zero , and the excess was recorded as a reduction to other operations and maintenance expense. See Note 14 for further discussion on the fair value analysis performed for FitzPatrick and the related impairment charge. In April 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $42 million in favor of Entergy Louisiana and against the DOE in the first round River Bend damages case. Entergy Louisiana received payment from the U.S. Treasury in August 2016. The effects of recording the final judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The River Bend damages awarded included $17 million related to costs previously capitalized, $23 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $17 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy Louisiana reduced its River Bend plant asset balance by the remaining $14 million . In September 2016 the U.S. Court of Federal Claims issued a further judgment in the River Bend case in the amount of $5 million . Entergy Louisiana recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The River Bend damages awarded included $2 million related to costs previously recorded as nuclear fuel expense and $3 million related to costs previously recorded as other operation and maintenance expense. In May 2017 the U.S. Court of Federal Claims issued a final judgment in the first round River Bend damages case for $0.6 million , awarding certain cask loading costs that had not previously been adjudicated by the court. In May 2016, Entergy Nuclear Vermont Yankee and the DOE entered into a stipulation agreement and the U.S. Court of Federal Claims issued a judgment in the amount of $19 million in favor of Entergy Nuclear Vermont Yankee and against the DOE in the second round Vermont Yankee damages case. Entergy received payment from the U.S. Treasury in June 2016. The effect of recording the proceeds was a reduction to other operation and maintenance expense and depreciation expense. The damages awarded included $15 million related to costs previously capitalized and $4 million related to costs previously recorded as other operation and maintenance expense. Of the $15 million, Entergy recorded $2 million as a reduction to previously-recorded depreciation expense. The remaining $13 million would have been recorded as a reduction to Vermont Yankee’s plant asset balance, but was recorded as a reduction to other operation and maintenance expense because Vermont Yankee’s plant asset balance is fully impaired. In June 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $49 million in favor of System Energy and against the DOE in the second round Grand Gulf damages case. System Energy received payment from the U.S. Treasury in August 2016. The effects of recording the judgment in the third quarter 2016 were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The amounts of Grand Gulf damages awarded related to System Energy’s 90% ownership of Grand Gulf included $16 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $9 million related to costs previously recorded as other operation and maintenance expense. Of the $16 million, System Energy recorded $5 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $11 million . In July 2016 the U.S. Court of Federal Claims issued a final judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. Entergy Arkansas received payment from the U.S. Treasury in October 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages awarded included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, $5 million related to costs previously recorded as other operation and maintenance expense, and $1 million related to costs previously recorded as taxes other than income taxes. In August 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $53 million in favor of Entergy Louisiana and against the DOE in the first round Waterford 3 damages case. Entergy Louisiana received payment from the U.S. Treasury in November 2016. The effects of recording the judgment were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages awarded included $41 million related to costs previously capitalized, $10 million related to costs previously recorded as nuclear fuel expense, and $2 million related to costs previously recorded as other operation and maintenance expense. Of the $41 million, Entergy Louisiana recorded $3 million as a reduction to previously-recorded depreciation expense. In September 2016 the U.S. Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 million . Entergy Nuclear Palisades recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Palisades damages awarded included $11 million related to costs previously capitalized and $3 million related to costs previously recorded as other operation and maintenance expense. Of the $11 million, Entergy recorded $1 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Palisades plant asset balance by the remaining $10 million . The Court previously issued a partial judgment in the case in the amount of $21 million , which was paid by the U.S. Treasury in October 2015. In October 2016 the U.S. Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . Entergy Nuclear Indian Point 2 recorded a receivable for that amount, and subsequently received payment from the U.S. Treasury in January 2017. The effects of recording the judgment were reductions to plant and other operation and maintenance expenses. The Indian Point 2 damages awarded included $14 million related to costs previously capitalized, $15 million related to costs previously recorded as other operation and maintenance expense, $3 million related to previously recorded decommissioning expense, and $2 million related to costs previously recorded as taxes other than income taxes. Of the $14 million, Entergy recorded $3 million as a reduction to previously-recorded depreciation expense. Entergy reduced its Indian Point 2 plant asset balance by the remaining $11 million . Management cannot predict the timing or amount of any potential recoveries on other claims filed by Entergy subsidiaries, and cannot predict the timing of any eventual receipt from the DOE of the U.S. Court of Federal Claims damage awards. 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 (ANI) and provides public liability insurance coverage of $450 million for each operating reactor (prior to January 1, 2017, the primary level of insurance was $375 million ). If this amount is not sufficient to cover claims arising from an accident, the second level, Secondary Financial Protection, applies. In 2016 the NRC approved Vermont Yankee’s exemption request to lower their limits from $375 million to $100 million effective April 15, 2016. 2. Within the Secondary Financial Protection level, each nuclear reactor has a contingent obligation to pay a retrospective premium, equal to its proportionate share of the loss in excess of the primary level, regardless of proximity to the incident or fault, up to a maximum of approximately $127.3 million per reactor per incident (Entergy’s maximum total contingent obligation per incident is $1.146 billion ). This retrospective premium is payable at a rate currently set at approximately $19 million per year per incident per nuclear power reactor. 3. In the event that one or more acts of terrorism cause a nuclear power plant accident, which results in third-party damages – off-site property and environmental damage, off-site bodily injury, and on-site third-party bodily injury (i.e. contractors), the primary level provided by ANI combined with the Secondary Financial Protection would provide approximately $13 billion in coverage. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Currently, 102 nuclear reactors are participating in the Secondary Financial Protection program. Effective April 15, 2016 the NRC granted Vermont Yankee’s exemption request and it was allowed to withdraw from participation in this layer of financial protection. The Secondary Financial Protection program provides approximately $13 billion in secondary layer insurance coverage to compensate the public in the event of a nuclear power reactor accident. The Price-Anderson Act provides that all potential liability for a nuclear accident is limited to the amounts of insurance coverage available under the primary and secondary layers. Entergy Arkansas and Entergy Louisiana each have two licensed reactors. System Energy has one licensed reactor ( 10% of Grand Gulf is owned by a non-affiliated company (Cooperative Energy) that would share on a pro-rata basis in any retrospective premium assessment to System Energy under the Price-Anderson Act). The Entergy Wholesale Commodities segment includes the ownership, operation, and decommissioning of nuclear power reactors and the ownership of the shutdown Indian Point 1 reactor and Big Rock Point facility. Property Insurance Entergy’s nuclear owner/licensee subsidiaries are members of NEIL, a mutual insurance company that provides property damage coverage, including decontamination and premature decommissioning expense, to the members’ nuclear generating plants. The property damage insurance limits procured by Entergy for its Utility plants and Entergy Wholesale Commodity plants are in compliance with the financial protection requirements of the NRC. The Utility plants’ (ANO 1 and 2, Grand Gulf, River Bend, and Waterford 3) property damage insurance limits are $1.5 billion per occurrence at each plant with an additional $100 million per occurrence that is shared among the plants. Property damage from earthquake and volcanic eruption is excluded from the first $500 million in coverage for all Utility plants. Property damage from flood is excluded from the first $500 million in coverage at ANO 1 and 2 and Grand Gulf. Property damage from flood is included in the first $500 million for Waterford 3 and River Bend. Property damage from wind for all of the Utility nuclear plants includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a total maximum deductible of $50 million . The Entergy Wholesale Commodities’ plants (Pilgrim, Palisades, Indian Point, Vermont Yankee, and Big Rock Point) have property damage insurance limits as follows: Vermont Yankee - $50 million per occurrence; Big Rock Point - $500 million per occurrence; Pilgrim and Palisades - $1.115 billion per occurrence; and Indian Point - $1.6 billion per occurrence. For losses that are considered non-nuclear in nature, the property damage insurance limit at Pilgrim, Palisades, and Indian Point is $500 million and at Vermont Yankee is $50 million . Property damage from wind and flood at Indian Point includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from earthquake and volcanic eruption at Indian Point is excluded from the first $500 million . Property damage from wind at Pilgrim includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million , but property damage from flood, earthquake, and volcanic eruption at Pilgrim is excluded from the first $500 million . Property damage from wind, flood, earthquake, and volcanic eruption at Vermont Yankee and Palisades includes a deductible of $10 million plus an additional 10% of the amount of the loss in excess of $10 million, up to a maximum deductible of $50 million . The value of the insured property at the time of an accident at Pilgrim, Palisades, and Vermont Yankee has been changed from replacement cost to actual cash value. In addition, Waterford 3 and Grand Gulf are also covered under NEIL’s Accidental Outage Coverage program. Due to Entergy’s gradual exit from the merchant/wholesale power business, Entergy no longer purchases Accidental Outage Coverage for its non-regulated, non-generation assets. Accidental outage coverage provides indemnification for the actual cost incurred in the event of an unplanned outage resulting from property damage covered under the NEIL Primary Property Insurance policy, subject to a deductible period. The indemnification for the actual cost incurred is based on market power prices at the time of the loss. For non-nuclear events, the maximum indemnity, under this policy, is limited to $ 327.6 million per occurrence. After the deductible period has passed, weekly indemnities for an unplanned outage, covered under NEIL’s Accidental Outage Coverage program, would be paid according to the amounts listed below: • 100% of the weekly indemnity for each week for the first payment period of 52 weeks; then • 80% of the weekly indemnity for each week for the second payment period of 52 weeks; and thereafter • 80% of the weekly indemnity for an additional 58 weeks for the third and final payment period. Under the property damage and accidental outage insurance programs, all NEIL insured plants could be subject to assessments should losses exceed the accumulated funds available from NEIL. Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— Potential assessments for the Entergy Wholesale Commodities plants are covered by insurance obtained through NEIL’s reinsurers. NRC regulations provide that the proceeds of this insurance must be used, first, to render the reactor safe and stable, and second, to complete decontamination operations. Only after proceeds are dedicated for such use and regulatory approval is secured would any remaining proceeds be made available for the benefit of plant owners or their creditors. In the event that one or more acts of terrorism causes property damage under one or more or all nuclear insurance policies issued by NEIL (including, but not limited to, those described above) within 12 months from the date the first property damage occurs, the maximum recovery under all such nuclear insurance policies shall be an aggregate not exceeding $3.24 billion plus the additional amounts recovered for such losses from reinsurance, indemnity, and any other sources applicable to such losses. Non-Nuclear Property Insurance Entergy’s non-nuclear property insurance program provides coverage on a system-wide basis for Entergy’s non-nuclear assets. The insurance program provides coverage up to $400 million per occurrence, “each and every loss” basis in excess of a $20 million self-insured retention with the exception of the following: earthquake shock, flood, and named windstorm, including associated storm surge. For earthquake shock and flood, the insurance program provides coverage up to $400 million on an annual aggregate basis in excess of a $40 million self-insured retention. For named windstorm and associated storm surge, the insurance program provides coverage up to $125 million on an annual aggregate basis in excess of a $40 million self-insured retention. The coverage provided by the insurance program for the Entergy New Orleans gas distribution system is limited to $50 million per occurrence and is subject to the same annual aggregate limits and retentions listed above for earthquake shock, flood, and named windstorm, including associated storm surge. Covered property generally includes power plants, substations, facilities, inventories, and gas distribution-related properties. Excluded property generally includes transmission and distribution lines, poles, and towers. For substations valued at $5 million or less, coverage for named windstorm and associated storm surge is excluded. This coverage is in place for Entergy Corporation, the Registrant Subsidiaries, and certain other Entergy subsidiaries, including the owners of the nuclear power plants in the Entergy Wholesale Commodities segment. Entergy also purchases $300 million in terrorism insurance coverage for its conventional property. The Terrorism Risk Insurance Reauthorization Act of 2007 created a government program that provides for up to $100 billion in coverage in excess of existing coverage for a terrorist event. Under current law, the Terrorism Risk Insurance Act extends through 2020. Prior to June 1, 2017, Entergy purchased additional coverage for some of its non-regulated, non-generation assets in addition to the insurance procured via the conventional property insurance program. The policy served to buy-down the conventional property insurance policy’s $20 million deductible and was placed on a scheduled location basis. Due to Entergy’s gradual exit from the merchant/wholesale power business, effective June 1, 2017, Entergy no longer purchases this additional coverage ( $20 million per occurrence) for some of its non-regulated, non-generation assets. Employment and Labor-related Proceedings The Registrant Subsidiaries and other Entergy subsidiaries are responding to various lawsuits in both state and federal courts and to other labor-related proceedings filed by current and former employees, recognized bargaining representatives, and third parties not selected for open positions or providing ser |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2017 | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Entergy Arkansas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Entergy Louisiana [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Entergy Mississippi [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Entergy New Orleans [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Entergy Texas [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
System Energy [Member] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Accounting standards require companies to record liabilities for all legal obligations associated with the retirement of long-lived assets that result from the normal operation of the 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. Nuclear Plant Decommissioning Entergy periodically reviews and updates estimated decommissioning costs. The actual decommissioning costs may vary from the estimates because of the timing of plant decommissioning, regulatory requirements, changes in technology, and increased costs of labor, materials, and equipment. As described below, during 2017 and 2016 , Entergy updated decommissioning cost estimates for certain nuclear power plants. Utility In the second quarter 2017, System Energy recorded a revision to its estimated decommissioning cost liability for Grand Gulf as a result of a revised decommissioning cost study. The revised estimate resulted in a $35.9 million reduction in its decommissioning cost liability, along with a corresponding reduction in the related asset retirement cost asset that will be depreciated over the remaining life of the unit. Entergy Wholesale Commodities In August 2013 the Board approved a plan to close and decommission Vermont Yankee at the end of 2014. Vermont Yankee submitted notification of permanent cessation of operations and permanent removal of fuel from the reactor in January 2015 after final shutdown in December 2014. Vermont Yankee’s future certifications to satisfy the NRC’s financial assurance requirements will now be based on the site specific cost estimate, including the estimated cost of managing spent fuel, rather than the NRC minimum formula for estimating decommissioning costs. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with borrowings under its credit facility that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, and the site restoration trust, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. See Note 4 to the financial statements for discussion of the credit facility and Note 16 to the financial statements for discussion of the decommissioning trust fund. In June 2015 the NRC staff issued an exemption from its regulations to allow Vermont Yankee to use its decommissioning trust fund to pay for approximately $225 million of estimated future spent fuel management costs that will not be paid for using funds from its credit facility. In August 2015, Vermont and two Vermont utilities filed a petition in the U.S. Court of Appeals for the D.C. Circuit challenging the NRC’s issuance of that exemption. In February 2016 the court dismissed the petition as premature because Vermont and the utilities had requested the NRC to reconsider a number of issues related to Vermont Yankee's use of the decommissioning trust fund including its use to pay for spent fuel management expenses pursuant to the exemption granted in June 2015. In October 2016 the NRC denied Vermont's and the utilities' request for a hearing and other relief but directed the NRC staff to conduct an assessment of any environmental impacts associated with the exemption. In December 2017 the NRC issued its final environmental assessment, concluding that the exemption did not, and will not, have a significant effect on the environment. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades as a result of a revised decommissioning cost study. The revised estimate resulted in a $129 million increase in the decommissioning cost liability, along with a corresponding increase in the related asset retirement cost asset. The increase in the estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the plant on October 1, 2018, subject to regulatory approval. The asset retirement cost asset was included in the Palisades carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of the Palisades plant. In the third quarter 2017, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liability for Palisades. The revised estimate resulted in a $68.7 million reduction in its decommissioning cost liability, along with a corresponding reduction in the plant asset. The reduction in its estimated decommissioning cost liability resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to continue to operate the plant until May 31, 2022. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA had the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigned the corresponding decommissioning trust, up to a specified level, to the Entergy subsidiaries. Under the original agreements, if the decommissioning liabilities were retained by NYPA, the Entergy subsidiaries would perform the decommissioning of the plants at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trust funds. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. The asset was increased by monthly accretion based on the applicable discount rate necessary to ultimately provide for the estimated future value of the decommissioning contract. The monthly accretion was recorded as interest income. In the third quarter 2015, Entergy Wholesale Commodities recorded a revision to the contract asset for the FitzPatrick plant. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. As a result of the agreement with NYPA, in the third quarter 2016 Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and asset retirement obligations for the decommissioning liabilities. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. The decommissioning trust funds for the Indian Point 3 and FitzPatrick plants were transferred to Entergy by NYPA in January 2017. In March 2017, Entergy sold the FitzPatrick plant to Exelon, and as part of the transaction, the FitzPatrick decommissioning trust fund, along with the decommissioning obligation for that plant, was transferred to Exelon. See Note 14 to the financial statements for discussion of the sale of FitzPatrick. In the fourth quarter 2016, Entergy Wholesale Commodities recorded a revision to its estimated decommissioning cost liabilities for Indian Point 1, Indian Point 2, and Indian Point 3 as a result of revised decommissioning cost studies. The revised estimates resulted in a $392 million increase in the decommissioning cost liabilities, along with a corresponding increase in the related asset retirement cost assets. The increase in the estimated decommissioning cost liabilities resulted from the change in expectation regarding the timing of decommissioning cash flows due to the decision to cease operations of the Indian Point 2 plant no later than April 2020 and the Indian Point 3 plant no later than April 2021. The asset retirement cost assets were included in the carrying value that was written down to fair value in the fourth quarter 2016. See Note 14 to the financial statements for discussion of the impairment of the value and planned shutdown of Indian Point Energy Center. As the Entergy Wholesale Commodities nuclear plants individually approach and begin decommissioning, the Entergy Wholesale Commodities plant owners will submit filings with the NRC for planned shutdown activities. These filings with the NRC will determine whether any other financial assurance may be required. The plants’ owners are required to provide the NRC with a biennial report (annually for units that have shut down or will shut down within five years), based on values as of December 31, addressing the owners’ ability to meet the NRC minimum funding levels. Depending on the value of the trust funds, the Entergy Wholesale Commodities plant owners may be required to take steps, such as providing financial guarantees through letters of credit or parent company guarantees or making additional contributions to the trusts, which could be significant, to ensure that the trusts are adequately funded and that NRC minimum funding requirements are met. Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— As a result of the agreement with NYPA discussed above, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables of $1.5 billion for the beneficial interests in the decommissioning trust funds for Indian Point 3 and FitzPatrick. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. See Note 16 to the financial statements for further discussion of the transfer of the decommissioning trust funds held by NYPA to Entergy. Coal Combustion Residuals In June 2010 the EPA issued a proposed rule on coal combustion residuals (CCRs) that contained two primary regulatory options: (1) regulating CCRs destined for disposal in landfills or received (including stored) in surface impoundments as so-called “special wastes” under the hazardous waste program of RCRA Subtitle C; or (2) regulating CCRs destined for disposal in landfills or surface impoundments as non-hazardous wastes under Subtitle D of RCRA. Under both options, CCRs that are beneficially reused in certain processes would remain excluded from hazardous waste regulation. In April 2015 the EPA published the final CCR rule with the material being regulated under the second scenario presented above - as non-hazardous wastes regulated under RCRA Subtitle D. The final regulations create new compliance requirements including modified storage, new notification and reporting practices, product disposal considerations, and CCR unit closure criteria. Entergy believes that on-site disposal options will be available at its facilities, to the extent needed for CCR that cannot be transferred for beneficial reuse. In December 2016, the Water Infrastructure Improvements for the Nation Act (WIIN Act) was signed into law, which authorizes states to regulate coal ash rather than leaving primary enforcement to citizen suit actions. States may submit to the EPA proposals for permit programs. In September 2017 the EPA agreed to reconsider certain provisions of the CCR rule in light of the WIIN Act. The EPA has not yet initiated a new round of rulemaking and has not extended the existing mid-October 2017 groundwater monitoring deadline. Entergy met the existing monitoring deadline, is monitoring state agency actions, and will participate in the regulatory development process. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Entergy Arkansas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Entergy Louisiana [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Entergy Mississippi [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Entergy New Orleans [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Entergy Texas [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
System Energy [Member] | |
Leases | LEASES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) General As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 Total rental expenses for all leases (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf and Waterford 3 sale and leaseback transactions) amounted to $53.1 million in 2017 , $44.4 million in 2016 , and $63.9 million in 2015 . As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 In addition to the above rental expense, railcar operating lease payments and oil tank facilities lease payments are recorded in fuel expense in accordance with regulatory treatment. Railcar operating lease payments were $4.0 million in 2017 , $3.4 million in 2016 , and $4.7 million in 2015 for Entergy Arkansas and $0.3 million in 2017 , $0.3 million in 2016 , and $1.1 million in 2015 for Entergy Louisiana. Oil tank facilities lease payments for Entergy Mississippi were $1.6 million in 2017 , $1.6 million in 2016 , and $1.6 million in 2015 . Power Purchase Agreements As of December 31, 2017 , Entergy Texas had a power purchase agreement that is accounted for as an operating lease under the accounting standards. The lease payments are recovered in fuel expense in accordance with regulatory treatment. The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. Total capacity expense under the power purchase agreement accounted for as an operating lease at Entergy Texas was $34.1 million in 2017, $26.1 million in 2016, and $29.9 million in 2015. Sales and Leaseback Transactions Waterford 3 Lease Obligation In 1989, in three separate but substantially identical transactions, Entergy Louisiana sold and leased back undivided interests in Waterford 3 for the aggregate sum of $353.6 million . The leases were scheduled to expire in July 2017. Entergy Louisiana was required to report the sale-leaseback as a financing transaction in its financial statements. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. The purchase was accomplished in a two-step transaction in which Entergy Louisiana first acquired the equity participant’s beneficial interest in the leased assets, followed by a termination of the leases and transfer of the leased assets to Entergy Louisiana when the outstanding lessor debt is paid. In March 2016, Entergy Louisiana completed the first step in the two-step transaction by acquiring the equity participant’s beneficial interest in the leased assets. Entergy Louisiana paid $60 million in cash and $52 million through the issuance of a non-interest bearing collateral trust mortgage note, payable in installments through July 2017. Entergy Louisiana continued to make payments on the lessor debt that remained outstanding and which matured in January 2017. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt was equal in timing and amount to the remaining lease payments due from the closing of the transaction through the end of the lease term in July 2017. Throughout the term of the lease, Entergy Louisiana had accrued a liability for the amount it expected to pay to retain the use of the undivided interests in Waterford 3 at the end of the lease term. Since the sale-leaseback transaction was accounted for as a financing transaction, the accrual of this liability was accounted for as additional interest expense. As of December 2015, the balance of this liability was $62.7 million . Upon entering into the agreement to purchase the equity participant’s beneficial interest in the undivided interests, Entergy Louisiana reduced the balance of the liability to $60 million, and recorded the $2.7 million difference as a credit to interest expense. The $60 million remaining liability was eliminated upon payment of the cash portion of the purchase price in 2016. As of December 31, 2016, Entergy Louisiana, in connection with the Waterford 3 lease obligation, had a future minimum lease payment (reflecting an interest rate of 8.09% ) of $57.5 million , including $2.3 million in interest, due January 2017 that was recorded as long-term debt. In February 2017 the leases were terminated and the leased assets were conveyed to Entergy Louisiana. Grand Gulf Lease Obligations In 1988, in two separate but substantially identical transactions, System Energy sold and leased back undivided ownership interests in Grand Gulf for the aggregate sum of $500 million . The initial term of the leases expired in July 2015. System Energy renewed the leases for fair market value with renewal terms expiring in July 2036. At the end of the new lease renewal terms, System Energy has the option to repurchase the leased interests in Grand Gulf or renew the leases at fair market value. In the event that System Energy does not renew or purchase the interests, System Energy would surrender such interests and their associated entitlement of Grand Gulf’s capacity and energy. System Energy is required to report the sale-leaseback as a financing transaction in its financial statements. For financial reporting purposes, System Energy expenses the interest portion of the lease obligation and the plant depreciation. However, operating revenues include the recovery of the lease payments because the transactions are accounted for as a sale and leaseback for ratemaking purposes. Consistent with a recommendation contained in a FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term. The amount was a net regulatory liability of $55.6 million as of December 31, 2017 and 2016 . As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Retirement, Other Postretiremen
Retirement, Other Postretirement Benefits, And Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT, OTHER POSTRETIREMENT BENEFITS, AND DEFINED CONTRIBUTION PLANS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Qualified Pension Plans Entergy has eight qualified pension plans covering substantially all employees. The Entergy Corporation Retirement Plan for Non-Bargaining Employees (Non-Bargaining Plan I), the Entergy Corporation Retirement Plan for Bargaining Employees (Bargaining Plan I), the Entergy Corporation Retirement Plan II for Non-Bargaining Employees (Non-Bargaining Plan II), the Entergy Corporation Retirement Plan II for Bargaining Employees, the Entergy Corporation Retirement Plan III, and the Entergy Corporation Retirement Plan IV for Bargaining Employees are non-contributory final average pay plans and provide pension benefits that are based on employees’ credited service and compensation during employment. Effective as of the close of business on December 31, 2016, the Entergy Corporation Retirement Plan IV for Non-Bargaining Employees (Non-Bargaining Plan IV) was merged with and into Non-Bargaining Plan II. At the close of business on December 31, 2016, the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in Non-Bargaining Plan IV were assumed by and transferred to Non-Bargaining Plan II. There was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger. Non-bargaining employees whose most recent date of hire is after June 30, 2014 participate in the Entergy Corporation Cash Balance Plan for Non-Bargaining Employees (Non-Bargaining Cash Balance Plan). Certain bargaining employees hired or rehired after June 30, 2014, or such later date provided for in their applicable collective bargaining agreements, participate in the Entergy Corporation Cash Balance Plan for Bargaining Employees (Bargaining Cash Balance Plan). The Registrant Subsidiaries participate in these four plans: Non-Bargaining Plan I, Bargaining Plan I, Non-Bargaining Cash Balance Plan, and Bargaining Cash Balance Plan. The assets of the six final average pay qualified pension plans are held in a master trust established by Entergy, and the assets of the two cash balance pension plans are held in a second master trust established by Entergy. Each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee. Use of the master trusts 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 in the master trusts are commingled, the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings (loss) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust. The fair value of the trusts’ assets is determined by the trustee and certain investment managers. For each trust, the trustee calculates a daily earnings factor, including realized and unrealized gains or losses, collected and accrued income, and administrative expenses, and allocates earnings to each plan in the master trusts on a pro rata basis. Within each pension plan, the record of each Registrant Subsidiary’s 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 net income and contributions, and are decreased for benefit payments. A plan’s investment net income/loss (i.e. interest and dividends, realized and unrealized gains and losses and expenses) 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 plans in an amount not less than the minimum required contribution under the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. The assets of the plans include common and preferred stocks, fixed-income securities, interest in a money market fund, and insurance contracts. The Registrant Subsidiaries’ pension costs are recovered from customers as a component of cost of service in each of their respective jurisdictions. Components of Qualified Net Pension Cost and Other Amounts Recognized as a Regulatory Asset and/or Accumulated Other Comprehensive Income (AOCI) Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— Accumulated Pension Benefit Obligation The accumulated benefit obligation for Entergy’s qualified pension plans was $7.4 billion and $6.7 billion at December 31, 2017 and 2016 , respectively. The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 Other Postretirement Benefits Entergy also currently offers retiree medical, dental, vision, and life insurance benefits (other postretirement benefits) for eligible retired employees. Employees who commenced employment before July 1, 2014 and who satisfy certain eligibility requirements (including retiring from Entergy after a certain age and/or years of service with Entergy and immediately commencing their Entergy pension benefit), may become eligible for other postretirement benefits. Entergy uses a December 31 measurement date for its postretirement benefit plans. Effective January 1, 1993, Entergy adopted an accounting standard requiring a change from a cash method to an accrual method of accounting for postretirement benefits other than pensions. Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, and Entergy Texas have received regulatory approval to recover accrued other postretirement benefit costs through rates. The LPSC ordered Entergy Louisiana to continue the use of the pay-as-you-go method for ratemaking purposes for postretirement benefits other than pensions. However, the LPSC retains the flexibility to examine individual companies’ accounting for other postretirement benefits to determine if special exceptions to this order are warranted. Pursuant to regulatory directives, Entergy Arkansas, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy contribute the other postretirement benefit costs collected in rates into external trusts. System Energy is funding, on behalf of Entergy Operations, other postretirement benefits associated with Grand Gulf. Trust assets contributed by participating Registrant Subsidiaries are in master trusts, established by Entergy Corporation and maintained by a trustee. Each participating Registrant Subsidiary holds a beneficial interest in the trusts’ assets. The assets in the master trusts are commingled for investment and administrative purposes. Although assets are commingled, supporting records are maintained for the purpose of allocating the beneficial interest in net earnings/(losses) and the administrative expenses of the investment accounts to the various participating plans and participating Registrant Subsidiaries. Beneficial interest in an investment account’s net income/(loss) is comprised of interest and dividends, realized and unrealized gains and losses, and expenses. Beneficial interest from these investments is allocated to the plans and participating Registrant Subsidiary based on their portion of net assets in the pooled accounts. Components of Net Other Postretirement Benefit Cost and Other Amounts Recognized as a Regulatory Asset and/or AOCI Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— Non-Qualified Pension Plans Entergy also sponsors non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. Entergy recognized net periodic pension cost related to these plans of $37.6 million in 2017 , $24.9 million in 2016 , and $22.8 million in 2015 . In 2017 , 2016 , and 2015 Entergy recognized $20.3 million , $8.1 million , and $5.1 million , respectively in settlement charges related to the payment of lump sum benefits out of the plan that is included in the non-qualified pension plan cost above. The projected benefit obligation was $162.3 million and $169.3 million as of December 31, 2017 and 2016 , respectively. The accumulated benefit obligation was $144.7 million and $151.0 million as of December 31, 2017 and 2016 , respectively. Entergy’s non-qualified, non-current pension liability at December 31, 2017 and 2016 was $136 million and $137.6 million , respectively; and its current liability was $26.4 million and $31.7 million , respectively. The unamortized prior service cost and net loss are recognized in regulatory assets ( $55.2 million at December 31, 2017 and $59.8 million at December 31, 2016 ) and accumulated other comprehensive income before taxes ( $35.9 million at December 31, 2017 and $31.6 million at December 31, 2016 ). The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 Included in the 2017 net periodic pension cost above are settlement charges of $269 thousand for Entergy Arkansas related to the lump sum benefits paid out of the plan. Included in the 2016 net periodic pension cost above are settlement charges of $1.4 million and $1 thousand for Entergy Arkansas and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. Included in the 2015 net periodic pension cost above are settlement charges of $108 thousand and $2 thousand for Entergy Louisiana and Entergy Mississippi, respectively, related to the lump sum benefits paid out of the plan. The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-curre |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans which are shareholder-approved stock-based compensation plans. Effective May 8, 2015, Entergy’s shareholders approved the 2015 Equity Ownership and Long-Term Cash Incentive Plan (2015 Plan). The maximum number of common shares that can be issued from the 2015 Plan for stock-based awards is 6,900,000 with no more than 1,500,000 available for incentive stock option grants. The 2015 Plan only applies to awards granted on or after May 8, 2015 and awards will expire ten years from the date of grant. As of December 31, 2017 , there were 3,498,788 authorized shares remaining for stock-based awards, including 1,500,000 for incentive stock 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 10 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: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $4.4 $4.4 $4.3 Tax benefit recognized in Entergy’s consolidated net income $1.7 $1.7 $1.6 Compensation cost capitalized as part of fixed assets and inventory $0.7 $0.7 $0.7 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: 2017 2016 2015 Stock price volatility 18.39% 20.38% 23.62% Expected term in years 7.35 7.25 7.06 Risk-free interest rate 2.31% 1.77% 1.59% Dividend yield 4.75% 4.50% 4.50% Dividend payment per share $3.50 $3.42 $3.34 Stock price volatility is calculated based upon the daily public stock price volatility of Entergy Corporation common stock over a period equal to the expected term of the award. 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 Corporation common stock equal to a specified multiple of his or her salary. Until an executive officer achieves this ownership position the executive officer is required to retain 75% of the net-of-tax net profit upon exercise of the option to be held in Entergy Corporation common stock. The reduction in fair value of the stock options due to this restriction is based upon an estimate of the call option value of the reinvested gain discounted to present value over the applicable reinvestment period. A summary of stock option activity for the year ended December 31, 2017 and changes during the year are presented below: Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value Weighted- Average Contractual Life Options outstanding as of January 1, 2017 7,137,210 $84.91 Options granted 791,900 $70.53 Options exercised (1,109,306 ) $72.74 Options forfeited/expired (1,654,950 ) $91.36 Options outstanding as of December 31, 2017 5,164,854 $83.26 $— 4.18 years Options exercisable as of December 31, 2017 4,027,902 $86.37 $— 2.94 years Weighted-average grant-date fair value of options granted during 2017 $6.54 The weighted-average grant-date fair value of options granted during the year was $7.40 for 2016 and $11.41 for 2015 . The total intrinsic value of stock options exercised was $11 million during 2017 , $5 million during 2016 , and $5 million during 2015 . The intrinsic value, which has no effect on net income, of the outstanding stock options exercised is calculated by the positive difference between the weighted average exercise price of the stock options granted and Entergy Corporation’s common stock price as of December 31, 2017 . Because Entergy’s year-end common stock price was less than the weighted average exercise price, the aggregate intrinsic value of stock options outstanding as of December 31, 2017 was zero . The intrinsic value of “in the money” stock options is $32 million as of December 31, 2017 . Entergy recognizes compensation cost over the vesting period of the options based on their grant-date fair value. The total fair value of options that vested was approximately $6 million during 2017 , $5 million during 2016 , and $4 million during 2015 . Cash received from option exercises was $81 million for the year ended December 31, 2017 . The tax benefits realized from options exercised was $4 million for the year ended December 31, 2017 . The following table summarizes information about stock options outstanding as of December 31, 2017 : Options Outstanding Options Exercisable Range of As of Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of Weighted Average Exercise Price Exercise Prices 12/31/2017 12/31/2017 $51 - $64.99 502,709 5.73 $63.68 502,709 $63.68 $65 - $78.99 2,790,045 5.56 $72.94 1,751,402 $74.36 $79 - $91.99 441,000 7.08 $89.90 342,691 $89.90 $92 - $108.20 1,431,100 0.06 $108.20 1,431,100 $108.20 $51 - $108.20 5,164,854 4.18 $83.26 4,027,902 $86.37 Stock-based compensation cost related to non-vested stock options outstanding as of December 31, 2017 not yet recognized is approximately $6 million and is expected to be recognized over a weighted-average period of 1.70 years. Restricted Stock Awards Entergy grants restricted stock awards earned under its stock benefit plans in the form of stock units. One-third of the restricted stock awards will vest upon each anniversary of the grant date and are expensed ratably over the three year vesting period. Shares of restricted stock have the same dividend and voting rights as other common stock and are considered issued and outstanding shares of Entergy upon vesting. In January 2017 the Board approved and Entergy granted 379,850 restricted stock awards under the 2015 Equity Ownership and Long-term Cash Incentive Plan. The restricted stock awards were made effective as of January 26, 2017 and were valued at $70.53 per share, which was the closing price of Entergy Corporation’s common stock on that date. The following table includes information about the restricted stock awards outstanding as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 683,474 $74.80 Granted 410,787 $70.71 Vested (330,816 ) $73.61 Forfeited (53,834 ) $75.63 Outstanding shares at December 31, 2017 709,611 $72.92 The following table includes financial information for restricted stock for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $19.7 $19.8 $19.5 Tax benefit recognized in Entergy’s consolidated net income $7.6 $7.6 $7.5 Compensation cost capitalized as part of fixed assets and inventory $5.2 $4.5 $3.9 The total fair value of the restricted stock awards granted was $29 million for each of the years ended December 31, 2017 , 2016 , and 2015 . The total fair value of the restricted stock awards vested was $24 million , $23 million , and $29 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Long-Term Performance Unit Program Entergy grants long-term incentive awards earned under its stock benefit plans in the form of performance units, which represents the value of one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period. The Long-Term Performance Unit Program specifies a minimum, target, and maximum achievement level, the achievement of which will determine the number of performance units that may be earned. Entergy measures performance by assessing Entergy’s total shareholder return relative to the total shareholder return of the companies in the Philadelphia Utility Index. There is no payout for performance that falls within the lowest quartile of performance of the peer companies. For top quartile performance, a maximum payout of 200% of target is earned. The costs of incentive awards are charged to income over the 3 -year period. In January 2017 the Board approved and Entergy granted 220,450 performance units under the 2015 Equity Ownership and Long-Term Cash Incentive Plan. The performance units were made effective as of January 26, 2017, and were valued at $71.40 per share. Shares of the performance units have the same dividend and voting rights as other common stock, are considered issued and outstanding shares of Entergy upon vesting, and are expensed ratably over the 3-year vesting period. The following table includes information about the long-term performance units outstanding at the target level as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 571,551 $82.02 Granted 258,808 $72.28 Vested (86,964 ) $67.16 Forfeited (209,244 ) $72.12 Outstanding shares at December 31, 2017 534,151 $83.60 The following table includes financial information for the long-term performance units for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $10.8 $12.3 $11.8 Tax benefit recognized in Entergy’s consolidated net income $4.2 $4.8 $4.5 Compensation cost capitalized as part of fixed assets and inventory $3.0 $2.9 $2.3 The total fair value of the long-term performance units granted was $19 million , $21 million , and $16 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. In January 2017, Entergy issued 86,964 shares of Entergy Corporation common stock at a share price of $71.89 for awards earned and dividends accrued under the 2014-2016 Long-Term Performance Unit Program. In January 2016, Entergy issued 54,103 shares of Entergy Corporation common stock at a share price of $68.09 for awards earned and dividends accrued under the 2013-2015 Long-Term Performance Unit Program. In January 2015, Entergy issued 105,503 shares of Entergy Corporation common stock at a share price of $88.67 for awards earned and dividends accrued under the 2012-2014 Long-Term Performance Unit Program. Restricted Stock Unit Awards Entergy grants restricted stock unit awards earned under its stock benefit plans in the form of stock units that are subject to time-based restrictions. The restricted stock units may be settled in shares of Entergy Corporation common stock or the cash value of shares of Entergy Corporation common stock at the time of vesting. The costs of restricted stock unit awards are charged to income over the restricted period, which varies from grant to grant. The average vesting period for restricted stock unit awards granted is 41 months. As of December 31, 2017 , there were 201,570 unvested restricted stock units that are expected to vest over an average period of 24 months. The following table includes information about the restricted stock unit awards outstanding as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 181,650 $74.94 Granted 40,170 $79.10 Vested (5,800 ) $73.22 Forfeited (14,450 ) $79.69 Outstanding shares at December 31, 2017 201,570 $75.48 The following table includes financial information for restricted stock unit awards for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.5 $2.2 $0.9 Tax benefit recognized in Entergy’s consolidated net income $1.0 $0.8 $0.4 Compensation cost capitalized as part of fixed assets and inventory $0.6 $0.4 $0.3 The total fair value of the restricted stock unit awards granted was $3 million , $5 million , and $4 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The total fair value of the restricted stock unit awards vested was $0.4 million , $2 million , and $1 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Arkansas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Louisiana [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Mississippi [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy New Orleans [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Entergy Texas [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
System Energy [Member] | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy’s reportable segments as of December 31, 2017 are Utility and Entergy Wholesale Commodities. Utility includes the generation, transmission, distribution, and sale of electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, and natural gas utility service in portions of Louisiana. Entergy Wholesale Commodities includes the ownership, operation, and decommissioning of nuclear power plants located in the northern United States and the sale of the electric power produced by its operating plants to wholesale customers. Entergy Wholesale Commodities also includes the ownership of interests in non-nuclear power plants that sell the electric power produced by those plants to wholesale customers. “All Other” includes the parent company, Entergy Corporation, and other business activity. Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. On December 29, 2014, the Vermont Yankee plant ceased power production and entered its decommissioning phase. In December 2015, Rhode Island State Energy Center, a natural gas-fired combined cycle generating plant, was sold. In October 2015 management announced the intention to shutdown the FitzPatrick plant in 2017 and the Pilgrim plant in 2019, earlier than previously expected. In 2016 management announced the planned sale of Vermont Yankee in 2018, the planned sale of FitzPatrick in 2017, and the planned amendment of the Consumers Energy PPA to terminate early, in May 2018, and the subsequent plan to shut down the Palisades plant in 2018, earlier than expected. In January 2017 management announced a settlement with New York State to shut down Indian Point 2 in 2020 and Indian Point 3 in 2021, both earlier than expected. In March 2017 the FitzPatrick plant was sold to Exelon. In September 2017 management announced the termination of the PPA amendment agreement with Consumers Energy and the revised plan to continue to operate Palisades under the current PPA and to shut down Palisades permanently on May 31, 2022. Management expects these transactions to result in the cessation of merchant power generation at all Entergy Wholesale Commodities nuclear power plants owned and operated by Entergy by 2022. Entergy will continue to have the obligation to decommission the nuclear plants owned by Entergy. These decisions and transactions resulted in asset impairments; employee retention and severance expenses and other benefits-related costs; and contracted economic development contributions. The employee retention and severance expenses and other benefits-related costs, and contracted economic development contributions are included in "Other operation and maintenance" in the consolidated statement of operations. Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 In addition, Entergy Wholesale Commodities incurred $0.5 billion in 2017 and $2.8 billion in 2016 of impairment and other related charges associated with these strategic decisions and transactions. See Note 14 to the financial statements for further discussion of these impairment charges. Going forward, Entergy Wholesale Commodities expects to incur employee retention and severance expenses of approximately $165 million in 2018 and approximately $205 million from 2019 through mid-2022 associated with these strategic transactions. Geographic Areas For the years ended December 31, 2017 , 2016 , and 2015 , the amount of revenue Entergy derived from outside of the United States was insignificant. As of December 31, 2017 and 2016 , Entergy had no long-lived assets located outside of the United States. Registrant Subsidiaries Each of the Registrant Subsidiaries has one reportable segment, which is an integrated utility business, except for System Energy, which is an electricity generation business. Each of the Registrant Subsidiaries’ operations is managed on an integrated basis by that company because of the substantial effect of cost-based rates and regulatory oversight on the business process, cost structures, and operating results. |
Acquisitions, Dispositions, and
Acquisitions, Dispositions, and Impairment of Long-Lived Assets | 12 Months Ended |
Dec. 31, 2017 | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included 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. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $28 million in 2017 , $13 million in 2016 , and $15 million in 2015 . In December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. Pursuant to the agreement to amend the PPA, Consumers Energy would pay Entergy $172 million for the early termination of the PPA. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. Entergy updated the liability amortization calculation to reflect the expected early termination of the PPA. In September 2017 the Michigan Public Service Commission issued an order conditionally approving the PPA amendment transaction, but only granting Consumers Energy recovery of $136.6 million of the $172 million requested early termination payment. As a result, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades nuclear power plant permanently on May 31, 2022. Based on that decision, the amounts to be amortized to revenue for the next five years will be approximately $6 million in 2018, $10 million in 2019, $11 million in 2020, $12 million in 2021, and $5 million in 2022. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year, and the final payment to NYPA was made in January 2015. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $145 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to an Entergy subsidiary. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $104 million as of December 31, 2017, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2017, was approximately $123 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018 in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original planned completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site release, subject to extension not to exceed two years from partial site release. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Utility Commission, including approval of revised site restoration standards that have been proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. Entergy has the option to contribute to the decommissioning trust fund if the value is less than $451.95 million , subject to adjustments. The transaction is planned to close by the end of 2018. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant owned by Entergy in the Entergy Wholesale Commodities segment. As a result of the sales agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon were classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet as of December 31, 2016. At December 31, 2016, the receivable for the beneficial interest in the decommissioning trust fund was $785 million , classified within other deferred debits, and the asset retirement obligation was $714 million , classified within other non-current liabilities. See Note 9 to the financial statements for further discussion of FitzPatrick’s decommissioning liability and see Note 16 to the financial statements for further discussion of the receivables for the beneficial interest in FitzPatrick’s decommissioning trust fund. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold the Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above in the Dispositions section for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, in the fourth quarter 2015, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. 2016 Impairment Conclusions As discussed in more detail above in the Acquisitions section, in December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the planned PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Entergy and Consumers Energy subsequently agreed to terminate the PPA amendment agreement and Entergy now intends to shut down the Palisades plant permanently on May 31, 2022. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets was $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades was $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million included the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets was $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point was $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million included the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2017 Impairment Conclusions In 2017 Entergy management continued to execute the strategy to reduce the size of Entergy Wholesale Commodities’ merchant fleet, with the planned shutdowns of Pilgrim by May 31, 2019, Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and, as discussed in further detail above in the Acquisitions section, Palisades on May 31, 2022. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. In 2017 Entergy Wholesale Commodities incurred $538 million of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. As discussed above in the Acquisitions section, as a result of the Michigan Public Service Commission only granting Consumers Energy partial recovery of the requested early termination payment, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement in September 2017. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently on May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Pilgrim, and Palisades in 2015, and Palisades and Indian Point in 2016, were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted-average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets: Significant Unobservable Inputs Amount Weighted-Average 2015 Weighted-average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (a) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (a) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% 2016 Weighted-average cost of capital Indian Point (c) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (d) 17.8%-38.8% 34.6% (a) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that is scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (d) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Pilgrim, Palisades and Indian Point plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy Arkansas [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included 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. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $28 million in 2017 , $13 million in 2016 , and $15 million in 2015 . In December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. Pursuant to the agreement to amend the PPA, Consumers Energy would pay Entergy $172 million for the early termination of the PPA. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. Entergy updated the liability amortization calculation to reflect the expected early termination of the PPA. In September 2017 the Michigan Public Service Commission issued an order conditionally approving the PPA amendment transaction, but only granting Consumers Energy recovery of $136.6 million of the $172 million requested early termination payment. As a result, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades nuclear power plant permanently on May 31, 2022. Based on that decision, the amounts to be amortized to revenue for the next five years will be approximately $6 million in 2018, $10 million in 2019, $11 million in 2020, $12 million in 2021, and $5 million in 2022. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year, and the final payment to NYPA was made in January 2015. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $145 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to an Entergy subsidiary. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $104 million as of December 31, 2017, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2017, was approximately $123 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018 in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original planned completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site release, subject to extension not to exceed two years from partial site release. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Utility Commission, including approval of revised site restoration standards that have been proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. Entergy has the option to contribute to the decommissioning trust fund if the value is less than $451.95 million , subject to adjustments. The transaction is planned to close by the end of 2018. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant owned by Entergy in the Entergy Wholesale Commodities segment. As a result of the sales agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon were classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet as of December 31, 2016. At December 31, 2016, the receivable for the beneficial interest in the decommissioning trust fund was $785 million , classified within other deferred debits, and the asset retirement obligation was $714 million , classified within other non-current liabilities. See Note 9 to the financial statements for further discussion of FitzPatrick’s decommissioning liability and see Note 16 to the financial statements for further discussion of the receivables for the beneficial interest in FitzPatrick’s decommissioning trust fund. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold the Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above in the Dispositions section for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, in the fourth quarter 2015, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. 2016 Impairment Conclusions As discussed in more detail above in the Acquisitions section, in December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the planned PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Entergy and Consumers Energy subsequently agreed to terminate the PPA amendment agreement and Entergy now intends to shut down the Palisades plant permanently on May 31, 2022. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets was $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades was $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million included the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets was $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point was $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million included the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2017 Impairment Conclusions In 2017 Entergy management continued to execute the strategy to reduce the size of Entergy Wholesale Commodities’ merchant fleet, with the planned shutdowns of Pilgrim by May 31, 2019, Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and, as discussed in further detail above in the Acquisitions section, Palisades on May 31, 2022. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. In 2017 Entergy Wholesale Commodities incurred $538 million of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. As discussed above in the Acquisitions section, as a result of the Michigan Public Service Commission only granting Consumers Energy partial recovery of the requested early termination payment, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement in September 2017. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently on May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Pilgrim, and Palisades in 2015, and Palisades and Indian Point in 2016, were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted-average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets: Significant Unobservable Inputs Amount Weighted-Average 2015 Weighted-average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (a) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (a) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% 2016 Weighted-average cost of capital Indian Point (c) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (d) 17.8%-38.8% 34.6% (a) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that is scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (d) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Pilgrim, Palisades and Indian Point plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy Louisiana [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included 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. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $28 million in 2017 , $13 million in 2016 , and $15 million in 2015 . In December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. Pursuant to the agreement to amend the PPA, Consumers Energy would pay Entergy $172 million for the early termination of the PPA. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. Entergy updated the liability amortization calculation to reflect the expected early termination of the PPA. In September 2017 the Michigan Public Service Commission issued an order conditionally approving the PPA amendment transaction, but only granting Consumers Energy recovery of $136.6 million of the $172 million requested early termination payment. As a result, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades nuclear power plant permanently on May 31, 2022. Based on that decision, the amounts to be amortized to revenue for the next five years will be approximately $6 million in 2018, $10 million in 2019, $11 million in 2020, $12 million in 2021, and $5 million in 2022. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year, and the final payment to NYPA was made in January 2015. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $145 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to an Entergy subsidiary. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $104 million as of December 31, 2017, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2017, was approximately $123 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018 in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original planned completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site release, subject to extension not to exceed two years from partial site release. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Utility Commission, including approval of revised site restoration standards that have been proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. Entergy has the option to contribute to the decommissioning trust fund if the value is less than $451.95 million , subject to adjustments. The transaction is planned to close by the end of 2018. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant owned by Entergy in the Entergy Wholesale Commodities segment. As a result of the sales agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon were classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet as of December 31, 2016. At December 31, 2016, the receivable for the beneficial interest in the decommissioning trust fund was $785 million , classified within other deferred debits, and the asset retirement obligation was $714 million , classified within other non-current liabilities. See Note 9 to the financial statements for further discussion of FitzPatrick’s decommissioning liability and see Note 16 to the financial statements for further discussion of the receivables for the beneficial interest in FitzPatrick’s decommissioning trust fund. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold the Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above in the Dispositions section for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, in the fourth quarter 2015, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. 2016 Impairment Conclusions As discussed in more detail above in the Acquisitions section, in December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the planned PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Entergy and Consumers Energy subsequently agreed to terminate the PPA amendment agreement and Entergy now intends to shut down the Palisades plant permanently on May 31, 2022. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets was $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades was $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million included the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets was $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point was $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million included the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2017 Impairment Conclusions In 2017 Entergy management continued to execute the strategy to reduce the size of Entergy Wholesale Commodities’ merchant fleet, with the planned shutdowns of Pilgrim by May 31, 2019, Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and, as discussed in further detail above in the Acquisitions section, Palisades on May 31, 2022. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. In 2017 Entergy Wholesale Commodities incurred $538 million of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. As discussed above in the Acquisitions section, as a result of the Michigan Public Service Commission only granting Consumers Energy partial recovery of the requested early termination payment, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement in September 2017. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently on May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Pilgrim, and Palisades in 2015, and Palisades and Indian Point in 2016, were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted-average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets: Significant Unobservable Inputs Amount Weighted-Average 2015 Weighted-average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (a) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (a) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% 2016 Weighted-average cost of capital Indian Point (c) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (d) 17.8%-38.8% 34.6% (a) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that is scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (d) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Pilgrim, Palisades and Indian Point plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Entergy New Orleans [Member] | |
Acquisitions And Dispositions | ACQUISITIONS, DISPOSITIONS, AND IMPAIRMENT OF LONG-LIVED ASSETS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) Acquisitions Union Power Station In March 2016, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans purchased the Union Power Station, a 1,980 MW (summer rating) power generation facility located near El Dorado, Arkansas, from Union Power Partners, L.P. The Union Power Station consists of four natural gas-fired, combined-cycle gas turbine power blocks, each rated at 495 MW (summer rating). Entergy Louisiana purchased two of the power blocks and a 50% undivided ownership interest in certain assets related to the facility, and Entergy Arkansas and Entergy New Orleans each purchased one power block and a 25% undivided ownership interest in such related assets. The aggregate purchase price for the Union Power Station was approximately $949 million (approximately $237 million for each power block and associated assets). Palisades Purchased Power Agreement Entergy’s purchase of the Palisades plant in 2007 included 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. For the PPA, which was at below-market prices at the time of the acquisition, Entergy will amortize a liability to revenue over the life of the agreement. The amount that will be amortized each period is based upon the present value, calculated at the date of acquisition, of each year’s difference between revenue under the agreement and revenue based on estimated market prices. Amounts amortized to revenue were $28 million in 2017 , $13 million in 2016 , and $15 million in 2015 . In December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. Pursuant to the agreement to amend the PPA, Consumers Energy would pay Entergy $172 million for the early termination of the PPA. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. Entergy updated the liability amortization calculation to reflect the expected early termination of the PPA. In September 2017 the Michigan Public Service Commission issued an order conditionally approving the PPA amendment transaction, but only granting Consumers Energy recovery of $136.6 million of the $172 million requested early termination payment. As a result, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades nuclear power plant permanently on May 31, 2022. Based on that decision, the amounts to be amortized to revenue for the next five years will be approximately $6 million in 2018, $10 million in 2019, $11 million in 2020, $12 million in 2021, and $5 million in 2022. NYPA Value Sharing Agreements Entergy’s purchase of the FitzPatrick and Indian Point 3 plants from NYPA included value sharing agreements with NYPA. In October 2007, Entergy subsidiaries and NYPA amended and restated the value sharing agreements to clarify and amend certain provisions of the original terms. Under the amended value sharing agreements, Entergy subsidiaries made annual payments to NYPA based on the generation output of the Indian Point 3 and FitzPatrick plants from January 2007 through December 2014. Entergy subsidiaries paid NYPA $6.59 per MWh for power sold from Indian Point 3, up to an annual cap of $48 million , and $3.91 per MWh for power sold from FitzPatrick, up to an annual cap of $24 million . The annual payment for each year’s output was due by January 15 of the following year, and the final payment to NYPA was made in January 2015. Entergy recorded the liability for payments to NYPA as power was generated and sold by Indian Point 3 and FitzPatrick. An amount equal to the liability was recorded to the plant asset account as contingent purchase price consideration for the plants. Dispositions Vermont Yankee In November 2016, Entergy entered into an agreement to sell 100% of the membership interests in Entergy Nuclear Vermont Yankee, LLC to a subsidiary of NorthStar. Entergy Nuclear Vermont Yankee is the owner of the Vermont Yankee plant and is in the Entergy Wholesale Commodities segment. The sale of Entergy Nuclear Vermont Yankee to NorthStar will include the transfer of the nuclear decommissioning trust fund and the asset retirement obligation for the spent fuel management and decommissioning of the plant. Entergy Nuclear Vermont Yankee has an outstanding credit facility with borrowing capacity of $145 million to pay for dry fuel storage costs. This credit facility is guaranteed by Entergy Corporation. At or before closing, a subsidiary of Entergy will assume the obligations under the existing credit facility or enter into a new credit facility and Entergy will guarantee the credit facility. At the closing of the sale transaction, NorthStar will pay $1,000 for the membership interests in Entergy Nuclear Vermont Yankee, and NorthStar will cause Entergy Nuclear Vermont Yankee to issue a promissory note to an Entergy subsidiary. The amount of the promissory note issued will be equal to the amount drawn under the credit facility or the amount drawn under the new credit facility, plus borrowing fees and costs incurred by Entergy in connection with such facility. The principal amount drawn under the outstanding credit facility was $104 million as of December 31, 2017, and the net book value of Entergy Nuclear Vermont Yankee, including unrealized gains on the decommissioning trust fund, as of December 31, 2017, was approximately $123 million . Entergy plans to transfer all spent nuclear fuel to dry cask storage by the end of 2018 in advance of the planned transaction close. Under the sale agreement and related agreements to be entered into at the closing, NorthStar will commit to initiate decommissioning and site restoration by 2021 and complete those activities by 2030. The original planned completion date, as outlined in Entergy’s Post Shutdown Decommissioning Activities Report filed with the NRC, was 2075. Entergy Nuclear Vermont Yankee, under NorthStar ownership, will be required to repay the promissory note issued to Entergy with certain of the proceeds from the recovery of damages under its claims against the DOE related to spent nuclear fuel disposal, with any balance remaining due at partial site release, subject to extension not to exceed two years from partial site release. The transaction is subject to certain closing conditions, including approval by the NRC; approval by the State of Vermont Public Utility Commission, including approval of revised site restoration standards that have been proposed as part of the transaction; the transfer of all spent nuclear fuel to dry fuel storage on the independent spent fuel storage installation; and that the market value of the fund assets held in the decommissioning trust fund for the Vermont Yankee Nuclear Power Station, less the hypothetical income tax on the aggregate unrealized net gain of such fund assets at closing, is equal to or exceeds $451.95 million , subject to adjustments. Entergy has the option to contribute to the decommissioning trust fund if the value is less than $451.95 million , subject to adjustments. The transaction is planned to close by the end of 2018. FitzPatrick In August 2016, Entergy entered into an agreement to sell the FitzPatrick plant, an 838 MW nuclear power plant owned by Entergy in the Entergy Wholesale Commodities segment. As a result of the sales agreement and the status of the necessary regulatory approvals, the assets and liabilities associated with the sale of FitzPatrick to Exelon were classified as held for sale on Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet as of December 31, 2016. At December 31, 2016, the receivable for the beneficial interest in the decommissioning trust fund was $785 million , classified within other deferred debits, and the asset retirement obligation was $714 million , classified within other non-current liabilities. See Note 9 to the financial statements for further discussion of FitzPatrick’s decommissioning liability and see Note 16 to the financial statements for further discussion of the receivables for the beneficial interest in FitzPatrick’s decommissioning trust fund. In March 2017 the NRC approved the sale of the plant to Exelon. The transaction closed in March 2017 for a purchase price of $110 million , which included a $10 million non-refundable signing fee paid in August 2016, in addition to the assumption by Exelon of certain liabilities related to the FitzPatrick plant, resulting in a pre-tax gain on the sale of $16 million . At the transaction close, Exelon paid an additional $8 million for the proration of certain expenses prepaid by Entergy. The disposition-date fair value of the decommissioning trust fund was $805 million , classified within other deferred debits, and the disposition-date fair value of the asset retirement obligation was $727 million , classified within other non-current liabilities. The transaction also included property, plant, and equipment with a net book value of zero , materials and supplies, and prepaid assets. As part of the transaction, Entergy entered into a reimbursement agreement with Exelon pursuant to which Exelon reimbursed Entergy for specified out-of-pocket costs associated with Entergy’s operation of FitzPatrick prior to closing of the sale. In the first quarter 2017, Entergy billed Exelon for reimbursement of $98 million of other operation and maintenance expenses, $7 million in lost operating revenues, and $3 million in taxes other than income taxes, partially offset by a $10 million defueling credit to Exelon. As discussed in Note 3 to the financial statements, as a result of the sale of FitzPatrick on March 31, 2017, Entergy redetermined the plant’s tax basis, resulting in a $44 million income tax benefit in the first quarter 2017. Top Deer In November 2016, Entergy sold its 50% membership interest in Top Deer Wind Ventures, LLC, a wind-powered electric generation joint venture owned by Entergy in the Entergy Wholesale Commodities segment and accounted for as an equity method investment. Entergy sold its 50% membership interest in Top Deer for approximately $0.5 million and realized a pre-tax loss of $0.2 million on the sale. Rhode Island State Energy Center In December 2015, Entergy sold the Rhode Island State Energy Center, a 583 MW natural gas-fired combined-cycle generating plant owned by Entergy in the Entergy Wholesale Commodities segment. Entergy sold the Rhode Island State Energy Center for approximately $490 million and realized a pre-tax gain of $154 million on the sale. Impairment of Long-lived Assets 2015 Impairment Conclusions Entergy determined in October 2015 that it would close FitzPatrick at the end of its fuel cycle, which was planned for January 27, 2017, because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. This decision came after management’s extensive analysis of whether it was advisable economically to refuel the plant, as scheduled, in the fall of 2016. Entergy also had discussions with the State of New York regarding the future of FitzPatrick. Because of the uncertainty regarding the refueling decision and its implications to the plant’s expected operating life, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. See above in the Dispositions section for further information on the subsequent decision to sell the FitzPatrick plant. Entergy determined in October 2015 that it would close Pilgrim no later than June 1, 2019 because of poor market conditions that led to reduced revenues, a poor market design that failed to properly compensate nuclear generators for the benefits they provide, and increased operational costs. The decision came after management’s extensive analysis of the economics and operating life of the plant following the NRC’s decision in September 2015 to place the plant in its “multiple/repetitive degraded cornerstone column” (Column 4) of its Reactor Oversight Process Action Matrix. Because of the uncertainty regarding the plant’s operating life created by the NRC’s decision and management’s analysis of the plant, Entergy tested the recoverability of the plant and related assets as of September 30, 2015. Due to the announced plant closures in October 2015, as well as the continued challenging market price trend, the high level of investment required to continue to operate the Entergy Wholesale Commodities plants, and the inadequate compensation provided to nuclear generators for their capacity benefits under the current market design, in the fourth quarter 2015, Entergy tested the recoverability of the plant and related assets of the two remaining operating nuclear power generating facilities in the Entergy Wholesale Commodities business, Palisades and Indian Point. For purposes of that evaluation, Entergy considered a number of factors associated with the facilities’ continued operation, including the status of the associated NRC licenses, the status of state regulatory issues, existing power purchase agreements, and the supply region in which the nuclear facilities sell energy and capacity. Under generally accepted accounting principles the determination of an asset’s recoverability is based on the probability-weighted undiscounted net cash flows expected to be generated by the plant and related assets. Projected net cash flows primarily depend on the status of the operations of the plant and pending legal and state regulatory matters, as well as projections of future revenues and costs over the estimated remaining life of the plant. The tests for FitzPatrick and Pilgrim indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of September 30, 2015. The test for Palisades indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying value of the plant and related assets as of December 31, 2015. The test for Indian Point indicated that the probability-weighted undiscounted net cash flows exceeded the carrying value of the plant and related assets as of December 31, 2015. As such, the carrying value of Indian Point was not impaired as of December 31, 2015. As of September 30, 2015, the estimated fair value of the FitzPatrick plant and related long-lived assets was $29 million , while the carrying value was $742 million , resulting in an impairment charge of $713 million . Materials and supplies were evaluated and written down by $48 million . In addition, FitzPatrick had a contract asset recorded for an agreement between Entergy subsidiaries and NYPA entered when Entergy subsidiaries purchased FitzPatrick from NYPA in 2000 and NYPA retained the decommissioning trusts and the decommissioning liabilities. The agreement gave NYPA the right to require the Entergy subsidiaries to assume the decommissioning liability provided that it assigns the decommissioning trust, up to a specified level, to Entergy. If NYPA retained the decommissioning liabilities, the Entergy subsidiaries would perform the decommissioning of the plant at a price equal to the lesser of a pre-specified level or the amount in the decommissioning trusts. The contract asset represented an estimate of the present value of the difference between the Entergy subsidiaries’ stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. See Note 9 for further discussion of the contract asset. Due to a change in expectation regarding the timing of decommissioning cash flows, the result was a write down of the contract asset from $335 million to $131 million , for a charge of $204 million . In summary, as of September 30, 2015, the impairment and related charges for FitzPatrick was $965 million ( $624 million net-of-tax). As of September 30, 2015, the estimated fair value of the Pilgrim plant and related long-lived assets is $65 million , while the carrying value was $718 million , resulting in an impairment charge of $653 million . Materials and supplies were evaluated and written down by $24 million . In summary, as of September 30, 2015, the total impairment loss and related charges for Pilgrim was $677 million ( $438 million net-of-tax). The pre-impairment carrying value of $718 million includes the effect of a $134 million increase in Pilgrim’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. As of December 31, 2015, the estimated fair value of the Palisades plant and related long-lived assets was $463 million , while the carrying value was $859 million , resulting in an impairment charge of $396 million ( $256 million net-of-tax). The pre-impairment carrying value of $859 million includes the effect of a $42 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the assessment of the estimated decommissioning cash flows that occurred in conjunction with the impairment analysis. 2016 Impairment Conclusions As discussed in more detail above in the Acquisitions section, in December 2016, Entergy reached an agreement with Consumers Energy to amend the existing PPA to terminate early, on May 31, 2018. The PPA amendment agreement was subject to regulatory approvals, including approval by the Michigan Public Service Commission. Separately, Entergy intended to shut down the Palisades nuclear power plant permanently on October 1, 2018, after refueling in the spring of 2017 and operating through the end of that fuel cycle. As a result of the planned PPA termination and its intention to shut down the plant, Entergy tested the recoverability of the plant and related assets as of December 31, 2016. Entergy and Consumers Energy subsequently agreed to terminate the PPA amendment agreement and Entergy now intends to shut down the Palisades plant permanently on May 31, 2022. Indian Point 2 and Indian Point 3 have an application pending for renewed NRC licenses. Various parties, including the State of New York, expressed opposition to renewal of the licenses. Under federal law, nuclear power plants may continue to operate beyond their original license expiration dates while their timely filed renewal applications are pending NRC approval. Indian Point 2 reached the expiration date of its original NRC operating license on September 28, 2013, and Indian Point 3 reached the expiration date of its original NRC operating license on December 12, 2015. Upon expiration of their operating licenses, each plant entered into a period of extended operation under the timely renewal rule. In January 2017, Entergy announced that it reached a settlement with New York State to shut down Indian Point 2 by April 30, 2020 and Indian Point 3 by April 30, 2021, and resolve all New York State-initiated legal challenges to Indian Point’s operating license renewal. As part of the settlement, New York State agreed to issue Indian Point’s water quality certification and Coastal Zone Management Act consistency certification and to withdraw its objection to license renewal before the NRC. New York State also agreed to issue a water discharge permit, which is required regardless of whether the plant is seeking a renewed NRC license. The shutdowns are conditioned, among other things, upon such actions being taken by New York State. As a result of its evaluation of alternatives to the continued operation of the Indian Point plants, and taking into consideration the status of negotiations with the State of New York, Entergy tested the recoverability of the plants and related assets as of December 31, 2016. The tests for Palisades and Indian Point indicated that the probability-weighted undiscounted net cash flows did not exceed the carrying values of the plants and related assets as of December 31, 2016. As of December 31, 2016 the estimated fair value of the Palisades plant and related long-lived assets was $206 million , while the carrying value was $558 million , resulting in an impairment charge of $352 million . Materials and supplies were evaluated and written down by $48 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Palisades was $400 million ( $258 million net-of-tax). The pre-impairment carrying value of $558 million included the effect of a $129 million increase in Palisades’ estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Palisades decommissioning cost revision. As of December 31, 2016 the estimated fair value of the Indian Point plants and related long-lived assets was $433 million , while the carrying value was $2,619 million , resulting in an impairment charge of $2,186 million . Materials and supplies were evaluated and written down by $157 million . In summary, as of December 31, 2016, the total impairment loss and related charges for Indian Point was $2,343 million ( $1,511 million net-of-tax). The pre-impairment carrying value of $2,619 million included the effect of a $392 million increase in Indian Point’s estimated decommissioning cost liability and the related asset retirement cost asset. The increase in the estimated decommissioning cost liability primarily resulted from the change in expectation regarding the timing of decommissioning cash flows. See Note 9 to the financial statements for further discussion regarding the Indian Point decommissioning cost revision. 2017 Impairment Conclusions In 2017 Entergy management continued to execute the strategy to reduce the size of Entergy Wholesale Commodities’ merchant fleet, with the planned shutdowns of Pilgrim by May 31, 2019, Indian Point 2 by April 30, 2020, Indian Point 3 by April 30, 2021, and, as discussed in further detail above in the Acquisitions section, Palisades on May 31, 2022. The FitzPatrick plant was classified as held-for-sale at December 31, 2016, and subsequently sold to Exelon in March 2017. In 2017 Entergy Wholesale Commodities incurred $538 million of impairment charges related to nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets. These costs were charged to expense as incurred as a result of the impaired fair value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. As discussed above in the Acquisitions section, as a result of the Michigan Public Service Commission only granting Consumers Energy partial recovery of the requested early termination payment, Entergy and Consumers Energy agreed to terminate the PPA amendment agreement in September 2017. Entergy will continue to operate Palisades under the current PPA with Consumers Energy, instead of shutting down in the fall of 2018 as previously planned. Entergy intends to shut down the Palisades plant permanently on May 31, 2022. As a result of the change in expected operating life of the Palisades plant, the expected probability-weighted undiscounted net cash flows as of September 30, 2017 exceeded the carrying value of the plant and related assets. Accordingly, nuclear fuel spending, nuclear refueling outage spending, and expenditures for capital assets incurred at Palisades after September 30, 2017 are no longer charged to expense as incurred, but recorded as assets and depreciated or amortized, subject to the typical periodic impairment reviews prescribed in the accounting rules. Overall Regarding All Impairments The impairments and other related charges are recorded as a separate line item in Entergy’s consolidated statements of operations and are included within the results of the Entergy Wholesale Commodities segment. In addition to the impairments and other related charges, Entergy expects to incur additional charges through mid-2022 associated with these strategic transactions. See Note 13 to the financial statements for further discussion of these additional charges. The fair value analyses for FitzPatrick, Pilgrim, and Palisades in 2015, and Palisades and Indian Point in 2016, were performed based on the income approach, a discounted cash flow method, to determine the amount of impairment. The estimates of fair value were based on the prices that Entergy would expect to receive in hypothetical sales of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets to a market participant. In order to determine these prices, Entergy used significant observable inputs, including quoted forward power and gas prices, where available. Significant unobservable inputs, such as projected long-term pre-tax operating margins (cash basis) and estimated weighted-average costs of capital, were also used in the estimation of fair value. In addition, Entergy made certain assumptions regarding future tax deductions associated with the plants and related assets, the amount and timing of recoveries from future litigation with the DOE related to spent fuel storage costs, and the expected operating life of the plant. Based on the use of significant unobservable inputs, the fair value measurement for the entirety of the asset group, and for each type of asset within the asset group, are classified as Level 3 in the fair value hierarchy discussed in Note 15 to the financial statements. The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets: Significant Unobservable Inputs Amount Weighted-Average 2015 Weighted-average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (a) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (a) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% 2016 Weighted-average cost of capital Indian Point (c) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (d) 17.8%-38.8% 34.6% (a) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that is scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (d) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group, which reports to the Chief Accounting Officer, was primarily responsible for determining the valuation of the FitzPatrick, Pilgrim, Palisades and Indian Point plants and related assets, in consultation with external advisors. Entergy’s Accounting Policy group obtained and reviewed information from other Entergy departments with expertise on the various inputs and assumptions that were necessary to calculate the fair values of the asset groups. |
Risk Management And Fair Values
Risk Management And Fair Values | 12 Months Ended |
Dec. 31, 2017 | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Entergy Arkansas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Entergy Louisiana [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Entergy Mississippi [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Entergy New Orleans [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Entergy Texas [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
System Energy [Member] | |
Risk Management And Fair Values | RISK MANAGEMENT AND FAIR VALUES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Market Risk In the normal course of business, Entergy is exposed to a number of market 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 commodity or instrument. All financial and commodity-related instruments, including derivatives, are subject to market risk including commodity price risk, equity price, and interest rate risk. Entergy uses derivatives primarily to mitigate commodity price risk, particularly power price and fuel price risk. The Utility has limited exposure to the effects of market risk because it operates primarily under cost-based rate regulation. To the extent approved by their retail regulators, the Utility operating companies use derivative instruments to hedge the exposure to price volatility inherent in their purchased power, fuel, and gas purchased for resale costs that are recovered from customers. As a wholesale generator, Entergy Wholesale Commodities’ core business is selling energy, measured in MWh, to its customers. Entergy Wholesale Commodities enters into forward contracts with its customers and also sells energy and capacity in the day ahead or spot markets. In addition to its forward physical power and gas contracts, Entergy Wholesale Commodities also uses a combination of financial contracts, including swaps, collars, and options, to mitigate commodity price risk. When the market price falls, the combination of instruments is expected to settle in gains that offset lower revenue from generation, which results in a more predictable cash flow. 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. Hedging instruments and volumes are chosen based on ability to mitigate risk associated with future energy and capacity prices; however, other considerations are factored into hedge product and volume decisions including corporate liquidity, corporate credit ratings, counterparty credit risk, hedging costs, firm settlement risk, and product availability in the marketplace. 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 net exposure and rolling net exposure during the stated periods. These policies, including related risk limits, are regularly assessed to ensure their appropriateness given Entergy’s objectives. Derivatives Some derivative instruments are classified as cash flow hedges due to their financial settlement provisions while others are classified as normal purchase/normal sale transactions due to their physical settlement provisions. Normal purchase/normal sale risk management tools include power purchase and sales agreements, fuel purchase agreements, capacity contracts, and tolling agreements. Financially-settled cash flow hedges can include natural gas and electricity swaps and options and interest rate swaps. Entergy may enter into financially-settled swap and option contracts to manage market risk that may or may not be designated as hedging instruments. Entergy enters into derivatives to manage natural risks inherent in its physical or financial assets or liabilities. Electricity over-the-counter instruments and futures contracts that financially settle against day-ahead power pool prices are used to manage price exposure for Entergy Wholesale Commodities generation. The maximum length of time over which Entergy Wholesale Commodities is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at December 31, 2017 is approximately 3.25 years . Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 98% for 2018 , of which approximately 79% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for 2018 is 27.9 TWh. Entergy may use standardized master netting agreements to help mitigate the credit risk of derivative instruments. These master agreements facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Cash, letters of credit, and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. The collateral agreements require a counterparty to post cash or letters of credit in the event an exposure exceeds an established threshold. The threshold represents an unsecured credit limit, which may be supported by a parental/affiliate guaranty, as determined in accordance with Entergy’s credit policy. In addition, collateral agreements allow for termination and liquidation of all positions in the event of a failure or inability to post collateral. Certain of the agreements to sell the power produced by Entergy Wholesale Commodities power plants contain provisions that require an Entergy subsidiary to provide credit support to secure its obligations depending on the mark-to-market values of the contracts. The primary form of credit support to satisfy these requirements is an Entergy Corporation guarantee. As of December 31, 2017 , derivative contracts with eight counterparties were in a liability position (approximately $65 million total). In addition to the corporate guarantee, $1 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $4 million in cash collateral and $34 million in letters of credit were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2016 , derivative contracts with three counterparties were in a liability position (approximately $8 million total). In addition to the corporate guarantee, $2 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. If the Entergy Corporation credit rating falls below investment grade, Entergy would have to post collateral equal to the estimated outstanding liability under the contract at the applicable date. Entergy manages fuel price volatility for its Louisiana jurisdictions (Entergy Louisiana and Entergy New Orleans) and Entergy Mississippi through the purchase of short-term natural gas swaps that financially settle against NYMEX futures. These swaps are marked-to-market through fuel expense with offsetting regulatory assets or liabilities. All benefits or costs of the program are recorded in fuel costs. The notional volumes of these swaps are based on a portion of projected annual exposure to gas for electric generation at Entergy Louisiana and Entergy Mississippi and projected winter purchases for gas distribution at Entergy Louisiana and Entergy New Orleans. The total volume of natural gas swaps outstanding as of December 31, 2017 is 38,540,750 MMBtu for Entergy, including 31,361,500 MMBtu for Entergy Louisiana, 6,714,250 MMBtu for Entergy Mississippi, and 465,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateral based on mark-to-market value, but do carry adequate assurance language that may lead to requests for collateral. During the second quarter 2017, Entergy participated in the annual financial transmission rights auction process for the MISO planning year of June 1, 2017 through May 31, 2018. Financial transmission rights are derivative instruments which represent economic hedges of future congestion charges that will be incurred in serving Entergy’s customer load. They are not designated as hedging instruments. Entergy initially records financial transmission rights at their estimated fair value and subsequently adjusts the carrying value to their estimated fair value at the end of each accounting period prior to settlement. Unrealized gains or losses on financial transmission rights held by Entergy Wholesale Commodities are included in operating revenues. The Utility operating companies recognize regulatory liabilities or assets for unrealized gains or losses on financial transmission rights. The total volume of financial transmission rights outstanding as of December 31, 2017 is 46,474 GWh for Entergy, including 10,479 GWh for Entergy Arkansas, 20,590 GWh for Entergy Louisiana, 6,391 GWh for Entergy Mississippi, 2,366 GWh for Entergy New Orleans, and 6,322 GWh for Entergy Texas. Credit support for financial transmission rights held by the Utility operating companies is covered by cash and/or letters of credit issued by each Utility operating company as required by MISO. Credit support for financial transmission rights held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for financial transmission rights exposure for Entergy Wholesale Commodities as of December 31, 2017 and December 31, 2016. Letters of credit posted with MISO covered the financial transmission rights exposure for Entergy Arkansas, Entergy Mississippi, and Entergy Texas as of December 31 2017 and for Entergy Arkansas and Entergy Mississippi as of December 31, 2016. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively At each reporting period, Entergy measures its hedges for ineffectiveness. Any ineffectiveness is recognized in earnings during the period. The ineffective portion of cash flow hedges is recorded in competitive businesses operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness was ($3) million , ($356) thousand , and $150 thousand for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Based on market prices as of December 31, 2017 , unrealized gains recorded in accumulated other comprehensive income on cash flow hedges relating to power sales totaled $55 million of net unrealized losses. Approximately ($59) million is expected to be reclassified from accumulated other comprehensive income to operating revenues in the next twelve months. The actual amount reclassified from accumulated other comprehensive income, however, could vary due to future changes in market prices. Entergy may effectively liquidate a cash flow hedge instrument by entering into a contract offsetting the original hedge, and then de-designating the original hedge in this situation. Gains or losses accumulated in other comprehensive income prior to de-designation continue to be deferred in other comprehensive income until they are included in income as the original hedged transaction occurs. From the point of de-designation, the gains or losses on the original hedge and the offsetting contract are recorded as assets or liabilities on the balance sheet and offset as they flow through to earnings. The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in accumulated other comprehensive income from electricity swaps and options de-designated as hedged items. The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas (a) Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms. (b) Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments other than those instruments held by the Entergy Wholesale Commodities business are reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. Accounting standards define fair value as an exit price, or the price that would be received to sell an asset or the amount that would be paid to transfer a liability in an orderly transaction between knowledgeable market participants at the date of measurement. Entergy and the Registrant Subsidiaries use assumptions or market input data that market participants would use in pricing assets or liabilities at fair value. The inputs can be readily observable, corroborated by market data, or generally unobservable. Entergy and the Registrant Subsidiaries endeavor to use the best available information to determine fair value. Accounting standards establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy establishes the highest priority for unadjusted market quotes in an active market for the identical asset or liability and the lowest priority for unobservable inputs. The three levels of the fair value hierarchy are: • Level 1 - Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of individually owned common stocks, cash equivalents (temporary cash investments, securitization recovery trust account, and escrow accounts), debt instruments, and gas hedge contracts. Cash equivalents includes all unrestricted highly liquid debt instruments with an original or remaining maturity of three months or less at the date of purchase. • Level 2 - Level 2 inputs are inputs other than quoted prices included in Level 1 that are, either directly or indirectly, observable for the asset or liability at the measurement date. Assets are valued based on prices derived by independent third parties that use inputs such as benchmark yields, reported trades, broker/dealer quotes, and issuer spreads. Prices are reviewed and can be challenged with the independent parties and/or overridden by Entergy if it is believed such would be more reflective of fair value. Level 2 inputs include the following: – quoted prices for similar assets or liabilities in active markets; – quoted prices for identical assets or liabilities in inactive markets; – inputs other than quoted prices that are observable for the asset or liability; or – inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 consists primarily of individually-owned debt instruments. • Level 3 - Level 3 inputs are pricing inputs that are generally less observable or unobservable from objective sources. These inputs are used with internally developed methodologies to produce management’s best estimate of fair value for the asset or liability. Level 3 consists primarily of financial transmission rights and derivative power contracts used as cash flow hedges of power sales at merchant power plants. The values for power contract assets or liabilities are based on both observable inputs including public market prices and interest rates, and unobservable inputs such as implied volatilities, unit contingent discounts, expected basis differences, and credit adjusted counterparty interest rates. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group and the Accounting Policy and Entergy Wholesale Commodities Accounting group. The primary functions of the Business Unit Risk Control group include: gathering, validating and reporting market data, providing market risk analyses and valuations in support of Entergy Wholesale Commodities’ commercial transactions, developing and administering protocols for the management of market risks, and implementing and maintaining controls around changes to market data in the energy trading and risk management system. The Business Unit Risk Control group is also responsible for managing the energy trading and risk management system, forecasting revenues, forward positions and analysis. The Accounting Policy and Entergy Wholesale Commodities Accounting group performs functions related to market and counterparty settlements, revenue reporting and analysis and financial accounting. The Business Unit Risk Control group reports to the Vice President and Treasurer while the Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The amounts reflected as the fair value of electricity swaps are based on the estimated amount that the contracts are in-the-money at the balance sheet date (treated as an asset) or out-of-the-money at the balance sheet date (treated as a liability) and would equal the estimated amount receivable to or payable by Entergy if the contracts were settled at that date. These derivative contracts include cash flow hedges that swap fixed for floating cash flows for sales of the output from the Entergy Wholesale Commodities business. The fair values are based on the mark-to-market comparison between the fixed contract prices and the floating prices determined each period from quoted forward power market prices. The differences between the fixed price in the swap contract and these market-related prices multiplied by the volume specified in the contract and discounted at the counterparties’ credit adjusted risk free rate are recorded as derivative contract assets or liabilities. For contracts that have unit contingent terms, a further discount is applied based on the historical relationship between contract and market prices for similar contract terms. The amounts reflected as the fair values of electricity options are valued based on a Black Scholes model, and are calculated at the end of each month for accounting purposes. Inputs to the valuation include end of day forward market prices for the period when the transactions will settle, implied volatilities based on market volatilities provided by a third party data aggregator, and U.S. Treasury rates for a risk-free return rate. As described further below, prices and implied volatilities are reviewed and can be adjusted if it is determined that there is a better representation of fair value. On a daily basis, the Business Unit Risk Control group calculates the mark-to-market for electricity swaps and options. The Business Unit Risk Control group also validates forward market prices by comparing them to other sources of forward market prices or to settlement prices of actual market transactions. Significant differences are analyzed and potentially adjusted based on these other sources of forward market prices or settlement prices of actual market transactions. Implied volatilities used to value options are also validated using actual counterparty quotes for Entergy Wholesale Commodities transactions when available and compared with other sources of market implied volatilities. Moreover, on at least a monthly basis, the Office of Corporate Risk Oversight confirms the mark-to-market calculations and prepares price scenarios and credit downgrade scenario analysis. The scenario analysis is communicated to senior management within Entergy and within Entergy Wholesale Commodities. Finally, for all proposed derivative transactions, an analysis is completed to assess the risk of adding the proposed derivative to Entergy Wholesale Commodities’ portfolio. In particular, the credit and liquidity effects are calculated for this analysis. This analysis is communicated to senior management within Entergy and Entergy Wholesale Commodities. The values of financial transmission rights are based on unobservable inputs, including estimates of congestion costs in MISO between applicable generation and load pricing nodes based on the 50th percentile of historical prices. They are classified as Level 3 assets and liabilities. The valuations of these assets and liabilities are performed by the Business Unit Risk Control group. The values are calculated internally and verified against the data published by MISO. Entergy’s Accounting Policy and Entergy Wholesale Commodities Accounting group reviews these valuations for reasonableness, with the assistance of others within the organization with knowledge of the various inputs and assumptions used in the valuation. The Business Unit Risk Control groups report to the Vice President and Treasurer. The Accounting Policy and Entergy Wholesale Commodities Accounting group reports to the Chief Accounting Officer. The following tables set forth, by level within the fair value |
Decommissioning Trust Funds
Decommissioning Trust Funds | 12 Months Ended |
Dec. 31, 2017 | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, 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 subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values were based on the trust statements received from NYPA and were valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds were not assigned a level in the fair value hierarchy. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund was recorded in other deferred debits on the consolidated balance sheet as of December 31, 2016. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund was classified as held for sale within other deferred debits on the consolidated balance sheet as of December 31, 2016. In January 2017, NYPA transferred to Entergy the Indian Point 3 decommissioning trust funds with a fair value of $726 million and the FitzPatrick decommissioning trust fund with a fair value of $793 million . In March 2017, Entergy closed on the sale of the FitzPatrick plant to Exelon. As part of the transaction, Entergy transferred the FitzPatrick decommissioning trust fund to Exelon. The FitzPatrick decommissioning trust fund had a disposition-date fair value of $805 million . See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. 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 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $4,662 $2,131 $1 $3,511 $1,673 $1 Debt Securities 2,550 44 16 2,213 34 27 Total $7,212 $2,175 $17 $5,724 $1,707 $28 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $479 million and $399 million as of December 31, 2017 and 2016 , respectively. The amortized cost of debt securities was $2,539 million as of December 31, 2017 and $2,212 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.24% , an average duration of approximately 6.33 years, and an average maturity of approximately 9.99 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8 $1 $1,099 $7 $23 $1 $1,169 $26 More than 12 months — — 265 9 1 — 20 1 Total $8 $1 $1,364 $16 $24 $1 $1,189 $27 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $74 $125 1 year - 5 years 902 763 5 years - 10 years 812 719 10 years - 15 years 147 109 15 years - 20 years 100 73 20 years+ 515 424 Total $2,550 $2,213 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $3,163 million , $2,409 million , and $2,492 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $149 million , $32 million , and $72 million , respectively, and gross losses of $13 million , $13 million , and $13 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $596.7 $354.9 $— $525.4 $281.5 $— Debt Securities 348.2 2.1 3.0 309.3 3.4 4.2 Total $944.9 $357.0 $3.0 $834.7 $284.9 $4.2 The amortized cost of debt securities was $349.1 million as of December 31, 2017 and $310.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.64% , an average duration of approximately 5.61 years, and an average maturity of approximately 7.00 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $168.0 $1.2 $— $— $146.7 $4.2 More than 12 months — — 41.4 1.8 — — — — Total $— $— $209.4 $3.0 $— $— $146.7 $4.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $13.0 $16.7 1 year - 5 years 123.4 106.2 5 years - 10 years 180.6 161.2 10 years - 15 years 4.8 7.7 15 years - 20 years 3.4 1.0 20 years+ 23.0 16.5 Total $348.2 $309.3 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $339.4 million , $197.4 million , and $213 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $17.7 million , $1.8 million , and $5.9 million , respectively, and gross losses of $0.6 million , $0.8 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $818.3 $461.2 $— $715.9 $346.6 $— Debt Securities 493.8 10.9 3.6 424.8 8.0 5.0 Total $1,312.1 $472.1 $3.6 $1,140.7 $354.6 $5.0 The amortized cost of debt securities was $490 million as of December 31, 2017 and $421.9 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.88% , an average duration of approximately 6.17 years, and an average maturity of approximately 12.06 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $135.3 $1.1 $— $— $198.8 $4.8 More than 12 months — — 84.4 2.5 — — 4.8 0.2 Total $— $— $219.7 $3.6 $— $— $203.6 $5.0 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $23.2 $31.4 1 year - 5 years 122.8 99.1 5 years - 10 years 109.3 122.8 10 years - 15 years 52.7 41.4 15 years - 20 years 50.7 30.9 20 years+ 135.1 99.2 Total $493.8 $424.8 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $231.3 million , $219.2 million , and $123.5 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $12 million , $3.9 million , and $1.9 million , respectively, and gross losses of $0.4 million , $0.4 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $575.2 $308.6 $— $473.9 $221.9 $0.1 Debt Securities 330.5 4.2 1.2 306.6 2.0 4.5 Total $905.7 $312.8 $1.2 $780.5 $223.9 $4.6 The amortized cost of debt securities was $327.5 million as of December 31, 2017 and $309.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.67% , an average duration of approximately 6.48 years, and an average maturity of approximately 9.22 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $196.9 $1.0 $— $— $220.9 $4.4 More than 12 months — — 10.4 0.2 — 0.1 0.8 0.1 Total $— $— $207.3 $1.2 $— $0.1 $221.7 $4.5 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $4.1 $6.6 1 year - 5 years 173.0 188.2 5 years - 10 years 78.5 78.5 10 years - 15 years 1.0 1.3 15 years - 20 years 6.9 7.8 20 years+ 67.0 24.2 Total $330.5 $306.6 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $565.4 million , $499.3 million , and $390.4 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $1.4 million , $3.5 million , and $3.3 million , respectively, and gross losses of $3.3 million , $1.7 million , and $0.5 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. 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). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2017 , 2016 , and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is 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 investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2017 , 2016 , or 2015 resulting from the recognition of the other-than-temporary impairment of equity securities held in its decommissioning trust funds. |
Entergy Arkansas [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, 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 subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values were based on the trust statements received from NYPA and were valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds were not assigned a level in the fair value hierarchy. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund was recorded in other deferred debits on the consolidated balance sheet as of December 31, 2016. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund was classified as held for sale within other deferred debits on the consolidated balance sheet as of December 31, 2016. In January 2017, NYPA transferred to Entergy the Indian Point 3 decommissioning trust funds with a fair value of $726 million and the FitzPatrick decommissioning trust fund with a fair value of $793 million . In March 2017, Entergy closed on the sale of the FitzPatrick plant to Exelon. As part of the transaction, Entergy transferred the FitzPatrick decommissioning trust fund to Exelon. The FitzPatrick decommissioning trust fund had a disposition-date fair value of $805 million . See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. 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 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $4,662 $2,131 $1 $3,511 $1,673 $1 Debt Securities 2,550 44 16 2,213 34 27 Total $7,212 $2,175 $17 $5,724 $1,707 $28 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $479 million and $399 million as of December 31, 2017 and 2016 , respectively. The amortized cost of debt securities was $2,539 million as of December 31, 2017 and $2,212 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.24% , an average duration of approximately 6.33 years, and an average maturity of approximately 9.99 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8 $1 $1,099 $7 $23 $1 $1,169 $26 More than 12 months — — 265 9 1 — 20 1 Total $8 $1 $1,364 $16 $24 $1 $1,189 $27 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $74 $125 1 year - 5 years 902 763 5 years - 10 years 812 719 10 years - 15 years 147 109 15 years - 20 years 100 73 20 years+ 515 424 Total $2,550 $2,213 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $3,163 million , $2,409 million , and $2,492 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $149 million , $32 million , and $72 million , respectively, and gross losses of $13 million , $13 million , and $13 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $596.7 $354.9 $— $525.4 $281.5 $— Debt Securities 348.2 2.1 3.0 309.3 3.4 4.2 Total $944.9 $357.0 $3.0 $834.7 $284.9 $4.2 The amortized cost of debt securities was $349.1 million as of December 31, 2017 and $310.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.64% , an average duration of approximately 5.61 years, and an average maturity of approximately 7.00 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $168.0 $1.2 $— $— $146.7 $4.2 More than 12 months — — 41.4 1.8 — — — — Total $— $— $209.4 $3.0 $— $— $146.7 $4.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $13.0 $16.7 1 year - 5 years 123.4 106.2 5 years - 10 years 180.6 161.2 10 years - 15 years 4.8 7.7 15 years - 20 years 3.4 1.0 20 years+ 23.0 16.5 Total $348.2 $309.3 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $339.4 million , $197.4 million , and $213 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $17.7 million , $1.8 million , and $5.9 million , respectively, and gross losses of $0.6 million , $0.8 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $818.3 $461.2 $— $715.9 $346.6 $— Debt Securities 493.8 10.9 3.6 424.8 8.0 5.0 Total $1,312.1 $472.1 $3.6 $1,140.7 $354.6 $5.0 The amortized cost of debt securities was $490 million as of December 31, 2017 and $421.9 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.88% , an average duration of approximately 6.17 years, and an average maturity of approximately 12.06 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $135.3 $1.1 $— $— $198.8 $4.8 More than 12 months — — 84.4 2.5 — — 4.8 0.2 Total $— $— $219.7 $3.6 $— $— $203.6 $5.0 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $23.2 $31.4 1 year - 5 years 122.8 99.1 5 years - 10 years 109.3 122.8 10 years - 15 years 52.7 41.4 15 years - 20 years 50.7 30.9 20 years+ 135.1 99.2 Total $493.8 $424.8 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $231.3 million , $219.2 million , and $123.5 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $12 million , $3.9 million , and $1.9 million , respectively, and gross losses of $0.4 million , $0.4 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $575.2 $308.6 $— $473.9 $221.9 $0.1 Debt Securities 330.5 4.2 1.2 306.6 2.0 4.5 Total $905.7 $312.8 $1.2 $780.5 $223.9 $4.6 The amortized cost of debt securities was $327.5 million as of December 31, 2017 and $309.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.67% , an average duration of approximately 6.48 years, and an average maturity of approximately 9.22 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $196.9 $1.0 $— $— $220.9 $4.4 More than 12 months — — 10.4 0.2 — 0.1 0.8 0.1 Total $— $— $207.3 $1.2 $— $0.1 $221.7 $4.5 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $4.1 $6.6 1 year - 5 years 173.0 188.2 5 years - 10 years 78.5 78.5 10 years - 15 years 1.0 1.3 15 years - 20 years 6.9 7.8 20 years+ 67.0 24.2 Total $330.5 $306.6 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $565.4 million , $499.3 million , and $390.4 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $1.4 million , $3.5 million , and $3.3 million , respectively, and gross losses of $3.3 million , $1.7 million , and $0.5 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. 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). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2017 , 2016 , and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is 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 investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2017 , 2016 , or 2015 resulting from the recognition of the other-than-temporary impairment of equity securities held in its decommissioning trust funds. |
Entergy Louisiana [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, 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 subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values were based on the trust statements received from NYPA and were valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds were not assigned a level in the fair value hierarchy. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund was recorded in other deferred debits on the consolidated balance sheet as of December 31, 2016. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund was classified as held for sale within other deferred debits on the consolidated balance sheet as of December 31, 2016. In January 2017, NYPA transferred to Entergy the Indian Point 3 decommissioning trust funds with a fair value of $726 million and the FitzPatrick decommissioning trust fund with a fair value of $793 million . In March 2017, Entergy closed on the sale of the FitzPatrick plant to Exelon. As part of the transaction, Entergy transferred the FitzPatrick decommissioning trust fund to Exelon. The FitzPatrick decommissioning trust fund had a disposition-date fair value of $805 million . See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. 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 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $4,662 $2,131 $1 $3,511 $1,673 $1 Debt Securities 2,550 44 16 2,213 34 27 Total $7,212 $2,175 $17 $5,724 $1,707 $28 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $479 million and $399 million as of December 31, 2017 and 2016 , respectively. The amortized cost of debt securities was $2,539 million as of December 31, 2017 and $2,212 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.24% , an average duration of approximately 6.33 years, and an average maturity of approximately 9.99 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8 $1 $1,099 $7 $23 $1 $1,169 $26 More than 12 months — — 265 9 1 — 20 1 Total $8 $1 $1,364 $16 $24 $1 $1,189 $27 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $74 $125 1 year - 5 years 902 763 5 years - 10 years 812 719 10 years - 15 years 147 109 15 years - 20 years 100 73 20 years+ 515 424 Total $2,550 $2,213 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $3,163 million , $2,409 million , and $2,492 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $149 million , $32 million , and $72 million , respectively, and gross losses of $13 million , $13 million , and $13 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $596.7 $354.9 $— $525.4 $281.5 $— Debt Securities 348.2 2.1 3.0 309.3 3.4 4.2 Total $944.9 $357.0 $3.0 $834.7 $284.9 $4.2 The amortized cost of debt securities was $349.1 million as of December 31, 2017 and $310.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.64% , an average duration of approximately 5.61 years, and an average maturity of approximately 7.00 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $168.0 $1.2 $— $— $146.7 $4.2 More than 12 months — — 41.4 1.8 — — — — Total $— $— $209.4 $3.0 $— $— $146.7 $4.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $13.0 $16.7 1 year - 5 years 123.4 106.2 5 years - 10 years 180.6 161.2 10 years - 15 years 4.8 7.7 15 years - 20 years 3.4 1.0 20 years+ 23.0 16.5 Total $348.2 $309.3 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $339.4 million , $197.4 million , and $213 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $17.7 million , $1.8 million , and $5.9 million , respectively, and gross losses of $0.6 million , $0.8 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $818.3 $461.2 $— $715.9 $346.6 $— Debt Securities 493.8 10.9 3.6 424.8 8.0 5.0 Total $1,312.1 $472.1 $3.6 $1,140.7 $354.6 $5.0 The amortized cost of debt securities was $490 million as of December 31, 2017 and $421.9 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.88% , an average duration of approximately 6.17 years, and an average maturity of approximately 12.06 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $135.3 $1.1 $— $— $198.8 $4.8 More than 12 months — — 84.4 2.5 — — 4.8 0.2 Total $— $— $219.7 $3.6 $— $— $203.6 $5.0 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $23.2 $31.4 1 year - 5 years 122.8 99.1 5 years - 10 years 109.3 122.8 10 years - 15 years 52.7 41.4 15 years - 20 years 50.7 30.9 20 years+ 135.1 99.2 Total $493.8 $424.8 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $231.3 million , $219.2 million , and $123.5 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $12 million , $3.9 million , and $1.9 million , respectively, and gross losses of $0.4 million , $0.4 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $575.2 $308.6 $— $473.9 $221.9 $0.1 Debt Securities 330.5 4.2 1.2 306.6 2.0 4.5 Total $905.7 $312.8 $1.2 $780.5 $223.9 $4.6 The amortized cost of debt securities was $327.5 million as of December 31, 2017 and $309.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.67% , an average duration of approximately 6.48 years, and an average maturity of approximately 9.22 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $196.9 $1.0 $— $— $220.9 $4.4 More than 12 months — — 10.4 0.2 — 0.1 0.8 0.1 Total $— $— $207.3 $1.2 $— $0.1 $221.7 $4.5 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $4.1 $6.6 1 year - 5 years 173.0 188.2 5 years - 10 years 78.5 78.5 10 years - 15 years 1.0 1.3 15 years - 20 years 6.9 7.8 20 years+ 67.0 24.2 Total $330.5 $306.6 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $565.4 million , $499.3 million , and $390.4 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $1.4 million , $3.5 million , and $3.3 million , respectively, and gross losses of $3.3 million , $1.7 million , and $0.5 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. 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). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2017 , 2016 , and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is 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 investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2017 , 2016 , or 2015 resulting from the recognition of the other-than-temporary impairment of equity securities held in its decommissioning trust funds. |
System Energy [Member] | |
Decommissioning Trust Funds | DECOMMISSIONING TRUST FUNDS (Entergy Corporation, Entergy Arkansas, 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 subsidiaries to maintain trusts to fund the costs of decommissioning ANO 1, ANO 2, River Bend, Waterford 3, Grand Gulf, Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trust funds and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. At the time of the acquisition of the plants Entergy recorded a contract asset that represented an estimate of the present value of the difference between the stipulated contract amount for decommissioning the plants less the decommissioning costs estimated in independent decommissioning cost studies. In August 2016, Entergy entered into a trust transfer agreement with NYPA to transfer the decommissioning trust funds and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction was contingent upon receiving approval from the NRC, which was received in January 2017. As a result of the agreement with NYPA, in the third quarter 2016, Entergy removed the contract asset from its balance sheet, and recorded receivables for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At December 31, 2016, the fair values of the decommissioning trust funds held by NYPA were $719 million for the Indian Point 3 plant and $785 million for the FitzPatrick plant. The fair values were based on the trust statements received from NYPA and were valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds were not assigned a level in the fair value hierarchy. For Indian Point 3, the receivable for the beneficial interest in the decommissioning trust fund was recorded in other deferred debits on the consolidated balance sheet as of December 31, 2016. For FitzPatrick, the receivable for the beneficial interest in the decommissioning trust fund was classified as held for sale within other deferred debits on the consolidated balance sheet as of December 31, 2016. In January 2017, NYPA transferred to Entergy the Indian Point 3 decommissioning trust funds with a fair value of $726 million and the FitzPatrick decommissioning trust fund with a fair value of $793 million . In March 2017, Entergy closed on the sale of the FitzPatrick plant to Exelon. As part of the transaction, Entergy transferred the FitzPatrick decommissioning trust fund to Exelon. The FitzPatrick decommissioning trust fund had a disposition-date fair value of $805 million . See Note 9 to the financial statements for further discussion of the decommissioning agreements with NYPA and see Note 14 to the financial statements for further discussion of the sale of FitzPatrick. 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 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. Generally, Entergy records realized gains and losses on its debt and equity securities using the specific identification method to determine the cost basis of its securities. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $4,662 $2,131 $1 $3,511 $1,673 $1 Debt Securities 2,550 44 16 2,213 34 27 Total $7,212 $2,175 $17 $5,724 $1,707 $28 The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2017 are $491 million for Indian Point 1, $621 million for Indian Point 2, $798 million for Indian Point 3, $458 million for Palisades, $1,068 million for Pilgrim, and $613 million for Vermont Yankee. The fair values of the decommissioning trust funds related to the Entergy Wholesale Commodities nuclear plants as of December 31, 2016 are $443 million for Indian Point 1, $564 million for Indian Point 2, $412 million for Palisades, $960 million for Pilgrim, and $584 million for Vermont Yankee. The fair values of the decommissioning trust funds for the Registrant Subsidiaries’ nuclear plants are detailed below. Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income (loss) for the decommissioning trusts which do not meet the criteria for regulatory accounting treatment as described above. Unrealized gains/(losses) above are reported before deferred taxes of $479 million and $399 million as of December 31, 2017 and 2016 , respectively. The amortized cost of debt securities was $2,539 million as of December 31, 2017 and $2,212 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.24% , an average duration of approximately 6.33 years, and an average maturity of approximately 9.99 years. The equity securities are generally held in funds that are designed to approximate or somewhat exceed the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index or the Russell 3000 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8 $1 $1,099 $7 $23 $1 $1,169 $26 More than 12 months — — 265 9 1 — 20 1 Total $8 $1 $1,364 $16 $24 $1 $1,189 $27 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $74 $125 1 year - 5 years 902 763 5 years - 10 years 812 719 10 years - 15 years 147 109 15 years - 20 years 100 73 20 years+ 515 424 Total $2,550 $2,213 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $3,163 million , $2,409 million , and $2,492 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $149 million , $32 million , and $72 million , respectively, and gross losses of $13 million , $13 million , and $13 million , respectively, were reclassified out of other comprehensive income into earnings. Entergy Arkansas Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $596.7 $354.9 $— $525.4 $281.5 $— Debt Securities 348.2 2.1 3.0 309.3 3.4 4.2 Total $944.9 $357.0 $3.0 $834.7 $284.9 $4.2 The amortized cost of debt securities was $349.1 million as of December 31, 2017 and $310.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.64% , an average duration of approximately 5.61 years, and an average maturity of approximately 7.00 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $168.0 $1.2 $— $— $146.7 $4.2 More than 12 months — — 41.4 1.8 — — — — Total $— $— $209.4 $3.0 $— $— $146.7 $4.2 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $13.0 $16.7 1 year - 5 years 123.4 106.2 5 years - 10 years 180.6 161.2 10 years - 15 years 4.8 7.7 15 years - 20 years 3.4 1.0 20 years+ 23.0 16.5 Total $348.2 $309.3 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $339.4 million , $197.4 million , and $213 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $17.7 million , $1.8 million , and $5.9 million , respectively, and gross losses of $0.6 million , $0.8 million , and $0.3 million , respectively, were recorded in earnings. Entergy Louisiana Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $818.3 $461.2 $— $715.9 $346.6 $— Debt Securities 493.8 10.9 3.6 424.8 8.0 5.0 Total $1,312.1 $472.1 $3.6 $1,140.7 $354.6 $5.0 The amortized cost of debt securities was $490 million as of December 31, 2017 and $421.9 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 3.88% , an average duration of approximately 6.17 years, and an average maturity of approximately 12.06 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $135.3 $1.1 $— $— $198.8 $4.8 More than 12 months — — 84.4 2.5 — — 4.8 0.2 Total $— $— $219.7 $3.6 $— $— $203.6 $5.0 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $23.2 $31.4 1 year - 5 years 122.8 99.1 5 years - 10 years 109.3 122.8 10 years - 15 years 52.7 41.4 15 years - 20 years 50.7 30.9 20 years+ 135.1 99.2 Total $493.8 $424.8 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $231.3 million , $219.2 million , and $123.5 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $12 million , $3.9 million , and $1.9 million , respectively, and gross losses of $0.4 million , $0.4 million , and $0.3 million , respectively, were recorded in earnings. System Energy System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $575.2 $308.6 $— $473.9 $221.9 $0.1 Debt Securities 330.5 4.2 1.2 306.6 2.0 4.5 Total $905.7 $312.8 $1.2 $780.5 $223.9 $4.6 The amortized cost of debt securities was $327.5 million as of December 31, 2017 and $309.1 million as of December 31, 2016 . As of December 31, 2017 , the debt securities have an average coupon rate of approximately 2.67% , an average duration of approximately 6.48 years, and an average maturity of approximately 9.22 years. The equity securities are generally held in funds that are designed to approximate the return of the Standard & Poor’s 500 Index. A relatively small percentage of the equity securities are held in funds intended to replicate the return of the Wilshire 4500 Index. The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $196.9 $1.0 $— $— $220.9 $4.4 More than 12 months — — 10.4 0.2 — 0.1 0.8 0.1 Total $— $— $207.3 $1.2 $— $0.1 $221.7 $4.5 The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $4.1 $6.6 1 year - 5 years 173.0 188.2 5 years - 10 years 78.5 78.5 10 years - 15 years 1.0 1.3 15 years - 20 years 6.9 7.8 20 years+ 67.0 24.2 Total $330.5 $306.6 During the years ended December 31, 2017 , 2016 , and 2015 , proceeds from the dispositions of securities amounted to $565.4 million , $499.3 million , and $390.4 million , respectively. During the years ended December 31, 2017 , 2016 , and 2015 , gross gains of $1.4 million , $3.5 million , and $3.3 million , respectively, and gross losses of $3.3 million , $1.7 million , and $0.5 million , respectively, were recorded in earnings. Other-than-temporary impairments and unrealized gains and losses Entergy evaluates investment securities in the Entergy Wholesale Commodities’ nuclear decommissioning trust funds with unrealized losses at the end of each period to determine whether an other-than-temporary impairment has occurred. 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). Entergy did not have any material other-than-temporary impairments relating to credit losses on debt securities for the years ended December 31, 2017 , 2016 , and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment is 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 investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not record material charges to other income in 2017 , 2016 , or 2015 resulting from the recognition of the other-than-temporary impairment of equity securities held in its decommissioning trust funds. |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2017 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Arkansas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Louisiana [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Mississippi [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy New Orleans [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Entergy Texas [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
System Energy [Member] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Under applicable authoritative accounting guidance, a variable interest entity (VIE) is an entity that conducts a business or holds property that possesses any of the following characteristics: an insufficient amount of equity at risk to finance its activities, equity owners who do not have the power to direct the significant activities of the entity (or have voting rights that are disproportionate to their ownership interest), or where equity holders do not receive expected losses or returns. An entity may have an interest in a VIE through ownership or other contractual rights or obligations, and is required to consolidate a VIE if it is the VIE’s primary beneficiary. The primary beneficiary of a VIE is the entity that has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, and has the obligation to absorb losses or has the right to residual returns that would potentially be significant to the entity. Entergy Arkansas, Entergy Louisiana, and System Energy consolidate the respective companies from which they lease nuclear fuel, usually in a sale and leaseback transaction. This is because Entergy directs the nuclear fuel companies with respect to nuclear fuel purchases, assists the nuclear fuel companies in obtaining financing, and, if financing cannot be arranged, the lessee (Entergy Arkansas, Entergy Louisiana, or System Energy) is responsible to repurchase nuclear fuel to allow the nuclear fuel company (the VIE) to meet its obligations. During the term of the arrangements, none of the Entergy operating companies have been required to provide financial support apart from their scheduled lease payments. See Note 4 to the financial statements for details of the nuclear fuel companies’ credit facility and commercial paper borrowings and long-term debt that are reported by Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy. These amounts also represent Entergy’s and the respective Registrant Subsidiary’s maximum exposure to losses associated with their respective interests in the nuclear fuel companies. Entergy Gulf States Reconstruction Funding I, LLC, and Entergy Texas Restoration Funding, LLC, companies wholly-owned and consolidated by Entergy Texas, are variable interest entities and Entergy Texas is the primary beneficiary. In June 2007, Entergy Gulf States Reconstruction Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Rita reconstruction costs. In November 2009, Entergy Texas Restoration Funding issued senior secured transition bonds (securitization bonds) to finance Entergy Texas’s Hurricane Ike and Hurricane Gustav restoration costs. With the proceeds, the variable interest entities purchased from Entergy Texas the transition property, which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds. The transition property is reflected as a regulatory asset on the consolidated Entergy Texas balance sheet. The creditors of Entergy Texas do not have recourse to the assets or revenues of the variable interest entities, including the transition property, and the creditors of the variable interest entities do not have recourse to the assets or revenues of Entergy Texas. Entergy Texas has no payment obligations to the variable interest entities except to remit transition charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Arkansas Restoration Funding, LLC, a company wholly-owned and consolidated by Entergy Arkansas, is a variable interest entity and Entergy Arkansas is the primary beneficiary. In August 2010, Entergy Arkansas Restoration Funding issued storm cost recovery bonds to finance Entergy Arkansas’s January 2009 ice storm damage restoration costs. With the proceeds, Entergy Arkansas Restoration Funding purchased from Entergy Arkansas the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy Arkansas balance sheet. The creditors of Entergy Arkansas do not have recourse to the assets or revenues of Entergy Arkansas Restoration Funding, including the storm recovery property, and the creditors of Entergy Arkansas Restoration Funding do not have recourse to the assets or revenues of Entergy Arkansas. Entergy Arkansas has no payment obligations to Entergy Arkansas Restoration Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the storm cost recovery bonds. Entergy Louisiana Investment Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy Louisiana, is a variable interest entity and Entergy Louisiana is the primary beneficiary. In September 2011, Entergy Louisiana Investment Recovery Funding issued investment recovery bonds to recover Entergy Louisiana’s investment recovery costs associated with the canceled Little Gypsy repowering project. With the proceeds, Entergy Louisiana Investment Recovery Funding purchased from Entergy Louisiana the investment recovery property, which is the right to recover from customers through an investment recovery charge amounts sufficient to service the bonds. The investment recovery property is reflected as a regulatory asset on the consolidated Entergy Louisiana balance sheet. The creditors of Entergy Louisiana do not have recourse to the assets or revenues of Entergy Louisiana Investment Recovery Funding, including the investment recovery property, and the creditors of Entergy Louisiana Investment Recovery Funding do not have recourse to the assets or revenues of Entergy Louisiana. Entergy Louisiana has no payment obligations to Entergy Louisiana Investment Recovery Funding except to remit investment recovery charge collections. See Note 5 to the financial statements for additional details regarding the investment recovery bonds. Entergy New Orleans Storm Recovery Funding I, L.L.C., a company wholly-owned and consolidated by Entergy New Orleans, is a variable interest entity, and Entergy New Orleans is the primary beneficiary. In July 2015, Entergy New Orleans Storm Recovery Funding issued storm cost recovery bonds to recover Entergy New Orleans’s Hurricane Isaac storm restoration costs, including carrying costs, the costs of funding and replenishing the storm recovery reserve, and up-front financing costs associated with the securitization. With the proceeds, Entergy New Orleans Storm Recovery Funding purchased from Entergy New Orleans the storm recovery property, which is the right to recover from customers through a storm recovery charge amounts sufficient to service the securitization bonds. The storm recovery property is reflected as a regulatory asset on the consolidated Entergy New Orleans balance sheet. The creditors of Entergy New Orleans do not have recourse to the assets or revenues of Entergy New Orleans Storm Recovery Funding, including the storm recovery property, and the creditors of Entergy New Orleans Storm Recovery Funding do not have recourse to the assets or revenues of Entergy New Orleans. Entergy New Orleans has no payment obligations to Entergy New Orleans Storm Recovery Funding except to remit storm recovery charge collections. See Note 5 to the financial statements for additional details regarding the securitization bonds. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest in the Waterford 3 nuclear plant. After Entergy Louisiana acquired a beneficial interest in the leased assets in March 2016, however, the lessor was no longer considered a variable interest entity. Entergy Louisiana made payments on its lease, including interest, of $9.2 million through March 2016 and $28.8 million in 2015 . See Note 10 to the financial statements for a discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest in the Grand Gulf nuclear plant. System Energy is the lessee under this arrangement, which is described in more detail in Note 10 to the financial statements. System Energy made payments on its lease, including interest, of $17.2 million in 2017 , $17.2 million in 2016 , and $52.3 million in 2015 . The lessor is a bank acting in the capacity of owner trustee for the benefit of equity investors in the transaction pursuant to trust agreement entered solely for the purpose of facilitating the lease transaction. It is possible that System Energy may be considered as the primary beneficiary of the lessor, but Entergy is unable to apply the authoritative accounting guidance with respect to this VIE because the lessor is not required to, and could not, provide the necessary financial information to consolidate the lessor. Because Entergy accounts for this leasing arrangement as a capital financing, however, Entergy believes that consolidating the lessor would not materially affect the financial statements. In the unlikely event of default under a lease, remedies available to the lessor include payment by the lessee of the fair value of the undivided interest in the plant, payment of the present value of the basic rent payments, or payment of a predetermined casualty value. Entergy believes, however, that the obligations recorded on the balance sheet materially represent the company’s potential exposure to loss. Entergy has also reviewed various lease arrangements, power purchase agreements, including agreements for renewable power, and other agreements that represent variable interests in other legal entities which have been determined to be variable interest entities. In these cases, Entergy has determined that it is not the primary beneficiary of the related VIE because it does not have the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance, or it does not have the obligation to absorb losses or the right to residual returns that would potentially be significant to the entity, or both. |
Transactions With Affiliates
Transactions With Affiliates | 12 Months Ended |
Dec. 31, 2017 | |
Entergy Arkansas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
Entergy Louisiana [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
Entergy Mississippi [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
Entergy New Orleans [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
Entergy Texas [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
System Energy [Member] | |
Transactions With Affiliates | TRANSACTIONS WITH AFFILIATES (Entergy Arkansas, 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 the FERC. The Registrant Subsidiaries 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. 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. 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. As described in Note 2 to the financial statements, Entergy Louisiana receives preferred membership interest distributions from Entergy Holdings Company. The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— Transactions with Equity Method Investees EWO Marketing, LLC, an indirect wholly-owned subsidiary of Entergy, paid capacity charges and gas transportation to RS Cogen in the amounts of $24.6 million in 2017, $24.7 million in 2016, and $24.5 million in 2015. Entergy’s operating transactions with its other equity method investees were not significant in 2017 , 2016 , or 2015 . |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Arkansas [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Louisiana [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Mississippi [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy New Orleans [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Texas [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
System Energy [Member] | |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED) (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) Results of operations for 2017 include: 1) $538 million ( $350 million net-of-tax) of impairment charges due to costs being charged to expense as incurred as a result of the impaired value of the Entergy Wholesale Commodities nuclear plants’ long-lived assets due to the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet; 2) a reduction in income of $181 million , including a $34 million net-of-tax reduction of regulatory liabilities, at Utility and $397 million at Entergy Wholesale Commodities and an increase in income of $52 million at Parent and Other as a result of Entergy’s re-measurement of its deferred tax assets and liabilities not subject to the ratemaking process due to the enactment of the Tax Cuts and Jobs Act, in December 2017, which lowered the federal corporate income tax rate from 35% to 21% ; and 3) a reduction in income tax expense, net of unrecognized tax benefits, of $373 million as a result of a change in the tax classification of legal entities that own Entergy Wholesale Commodities nuclear power plants. See Note 14 to the financial statements for further discussion of the impairment and related charges. See Note 3 to the financial statements for further discussion of the effects of the Tax Cuts and Jobs Act and the change in the tax classification. Results of operations for 2016 include: 1) $2,836 million ( $1,829 million net-of-tax) of impairment and related charges primarily to write down the carrying values of the Entergy Wholesale Commodities’ Palisades, Indian Point 2, and Indian Point 3 plants and related assets to their fair values; 2) a reduction of income tax expense, net of unrecognized tax benefits, of $238 million as a result of a change in the tax classification of a legal entity that owned one of the Entergy Wholesale Commodities nuclear power plants; income tax benefits as a result of the settlement of the 2010-2011 IRS audit, including a $75 million tax benefit recognized by Entergy Louisiana related to the treatment of the Vidalia purchased power agreement and a $54 million net benefit recognized by Entergy Louisiana related to the treatment of proceeds received in 2010 for the financing of Hurricane Gustav and Hurricane Ike storm costs pursuant to Louisiana Act 55; and 3) a reduction in expenses of $100 million ( $64 million net-of-tax) due to the effects of recording in 2016 the final court decisions in several lawsuits against the DOE related to spent nuclear fuel storage costs. See Note 14 to the financial statements for further discussion of the impairment and related charges, see Note 3 to the financial statements for additional discussion of the income tax items, and see Note 8 to the financial statements for discussion of the spent nuclear fuel litigation. 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 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $11,924 $4,211 $2,548 $13,587 2016 $39,895 $7,505 $35,476 $11,924 2015 $35,663 $6,926 $2,694 $39,895 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Arkansas [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY ARKANSAS, INC. AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $1,211 $503 $651 $1,063 2016 $34,226 $902 $33,917 $1,211 2015 $32,247 $2,759 $780 $34,226 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Louisiana [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY LOUISIANA, LLC AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $6,277 $3,108 $955 $8,430 2016 $4,209 $2,942 $874 $6,277 2015 $1,609 $3,464 $864 $4,209 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Mississippi [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY MISSISSIPPI, INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $549 $255 $230 $574 2016 $718 $259 $428 $549 2015 $873 $247 $402 $718 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy New Orleans [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY NEW ORLEANS, LLC AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $3,059 $152 $154 $3,057 2016 $268 $2,872 $81 $3,059 2015 $262 $217 $211 $268 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Entergy Texas [Member] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ENTERGY TEXAS, INC. AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016, and 2015 (In Thousands) Column A Column B Column C Column D Column E Other Balance at Additions Changes Balance Description Beginning of Period Charged to Income Deductions (1) at End of Period Allowance for doubtful accounts 2017 $828 $192 $557 $463 2016 $474 $531 $177 $828 2015 $672 $239 $437 $474 Notes: (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |
Summary Of Significant Accoun30
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Entergy Arkansas [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Entergy Louisiana [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Entergy Mississippi [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Entergy New Orleans [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Entergy Texas [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
System Energy [Member] | |
Use Of Estimates In Preparation Of Financial Statements | Use of Estimates in the Preparation of Financial Statements In conformity with generally accepted accounting principles in the United States of America, 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 | Revenues and Fuel Costs Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy Texas generate, transmit, and distribute electric power primarily to retail customers in Arkansas, Louisiana, Mississippi, and Texas, respectively. Entergy 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, including Algiers. Prior to October 1, 2015, Entergy Louisiana was the electric power supplier for Algiers. The Entergy Wholesale Commodities segment derives almost all of its revenue from sales of electric power generated by plants owned by subsidiaries in that 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 are recorded as revenue and unbilled accounts receivable, and the prior month’s estimate is reversed. Therefore, changes in price and volume differences resulting from factors such as weather affect the calculation of unbilled revenues from one period to the next, and may result in variability in reported revenues from one period to the next as prior estimates are reversed and new estimates recorded. For sales under rates implemented subject to refund, Entergy reduces revenue by accruing estimated amounts for probable refunds when Entergy believes it is probable that revenues will be refunded to customers based upon the status of the rate proceeding. Entergy’s Utility operating companies’ rate schedules include either fuel adjustment clauses or fixed fuel factors, which allow either current recovery in billings to customers or deferral of fuel costs until the costs are billed to customers. Where the fuel component of revenues is billed based on a pre-determined fuel cost (fixed fuel factor), the fuel factor remains in effect until changed as part of a general rate case, fuel reconciliation, or fixed fuel factor filing. System Energy’s operating revenues are intended to recover from Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans operating expenses and capital costs attributable to Grand Gulf. The capital costs are computed by allowing a return on System Energy’s common equity funds allocable to its net investment in Grand Gulf, plus System Energy’s effective interest cost for its debt allocable to its investment in Grand Gulf. |
Accounting for MISO transactions | Accounting for MISO transactions Entergy is a member of MISO, a regional transmission organization that maintains functional control over the combined transmission systems of its members and manages one of the largest energy markets in the U.S. In the MISO market, Entergy offers its generation and bids its load into the market on an hourly basis. MISO settles these hourly offers and bids based on locational marginal prices, which is pricing for energy at a given location based on a market clearing price that takes into account physical limitations on the transmission system, generation, and demand throughout the MISO region. MISO evaluates the market participants’ energy offers and demand bids to economically and reliably dispatch the entire MISO system. Entergy nets purchases and sales within the MISO market on an hourly basis and reports in operating revenues when in a net selling position for an hour period and in operating expenses when in a net purchasing position for an hour period. |
Property, Plant, And Equipment | Property, Plant, and Equipment Property, plant, and equipment is stated at original cost less regulatory disallowances and impairments. Depreciation is computed on the straight-line basis at rates based on the applicable estimated service lives of the various classes of property. For the Registrant Subsidiaries, the original cost of plant retired or removed, less salvage, is charged to accumulated depreciation. Normal maintenance, repairs, and minor replacement costs are charged to operating expenses. Substantially all of the Registrant Subsidiaries’ plant is subject to mortgage liens. Electric plant includes the portions of Grand Gulf and Waterford 3 that were sold and leased back in prior periods. For financial reporting purposes, these sale and leaseback arrangements are reflected as financing transactions. In March 2016, Entergy Louisiana completed the first step in a two-step transaction to purchase the undivided interests in Waterford 3 that were previously being leased by acquiring a beneficial interest in the Waterford 3 leased assets. In February 2017 the leases were terminated and the leased assets transferred to Entergy Louisiana. See Note 10 to the financial statements for further discussion of Entergy Louisiana’s purchase of the Waterford 3 leased assets. Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 Depreciation rates on average depreciable property for Entergy approximated 3.0% in 2017 , 2.8% in 2016 , and 2.9% in 2015 . Included in these rates are the depreciation rates on average depreciable Utility property of 2.6% in 2017 , 2.6% in 2016 , and 2.7% 2015 , and the depreciation rates on average depreciable Entergy Wholesale Commodities property of 22.3% in 2017 , 5.2% in 2016 , and 5.4% in 2015 . The higher depreciation rate in 2017 for Entergy Wholesale Commodities reflects the significantly reduced remaining estimated operating lives associated with management’s strategy to reduce the size of the Entergy Wholesale Commodities’ merchant fleet. Entergy amortizes nuclear fuel using a units-of-production method. Nuclear fuel amortization is included in fuel expense in the income statements. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear fuel costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. “Non-utility property - at cost (less accumulated depreciation)” for Entergy is reported net of accumulated depreciation of $167 million and $169 million as of December 31, 2017 and 2016 , respectively. Construction expenditures included in accounts payable is $368 million and $253 million at December 31, 2017 and 2016 , respectively. Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% Non-utility property - at cost (less accumulated depreciation) for Entergy Louisiana is reported net of accumulated depreciation of $152.3 million and $154.4 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Mississippi is reported net of accumulated depreciation of $0.5 million and $0.5 million as of December 31, 2017 and 2016 , respectively. Non-utility property - at cost (less accumulated depreciation) for Entergy Texas is reported net of accumulated depreciation of $4.9 million and $4.9 million as of December 31, 2017 and 2016 , respectively. As of December 31, 2017 , construction expenditures included in accounts payable are $58.8 million for Entergy Arkansas, $160.4 million for Entergy Louisiana, $17.1 million for Entergy Mississippi, $2.5 million for Entergy New Orleans, $32.8 million for Entergy Texas, and $33.9 million for System Energy. As of December 31, 2016 , construction expenditures included in accounts payable are $40.9 million for Entergy Arkansas, $114.8 million for Entergy Louisiana, $11.5 million for Entergy Mississippi, $2.3 million for Entergy New Orleans, $9.3 million for Entergy Texas, and $6.2 million for System Energy. |
Jointly-Owned Generating Stations | Jointly-Owned Generating Stations Certain Entergy subsidiaries jointly own electric generating facilities with affiliates or third parties. All parties are required to provide their own financing. The investments, fuel expenses, and other operation and maintenance expenses associated with these generating stations are recorded by the Entergy subsidiaries to the extent of their respective undivided ownership interests. As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Nuclear Refueling Outage Costs | Nuclear Refueling Outage Costs Nuclear refueling outage costs are deferred during the outage and amortized over the estimated period to the next outage because these refueling outage expenses are incurred to prepare the units to operate for the next operating cycle without having to be taken off line. Because the value of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, charge nuclear refueling outage costs directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these costs. |
Allowance For Funds Used During Construction (AFUDC) | Allowance for Funds Used During Construction (AFUDC) AFUDC represents the approximate net composite interest cost of borrowed funds and a reasonable return on the equity funds used for construction by the Registrant Subsidiaries. AFUDC increases both the plant balance and earnings and is realized in cash through depreciation provisions included in the rates charged to customers. |
Income Taxes | Income Taxes Entergy Corporation and the majority of its subsidiaries file a United States consolidated federal income tax return. Entergy Louisiana, LLC and Entergy New Orleans, LLC are not members of the Entergy Corporation consolidated federal income tax filing group but, rather, are included in the Entergy Utility Holding Company, LLC consolidated federal income tax filing group. Each tax-paying entity records income taxes as if it were a separate taxpayer and consolidating adjustments are allocated to the tax filing entities in accordance with Entergy’s intercompany income tax allocation agreements. Deferred income taxes are recorded for temporary differences between the book and tax basis of assets and liabilities, and for certain losses and credits available for carryforward. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates in the period in which the tax or rate was enacted. See the “ Other Tax Matters - Tax Cuts and Jobs Act ” section in Note 3 to the financial statements for discussion of the effects of the enactment of the Tax Cuts and Jobs Act, in December 2017. The benefits of investment tax credits are deferred and amortized over the average useful life of the related property, as a reduction of income tax expense, for such credits associated with rate-regulated operations in accordance with ratemaking treatment. |
Earnings Per Share | Earnings (Loss) per Share The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) The calculation of diluted earnings (loss) per share excluded 2,927,512 options outstanding at December 31, 2017 , 7,137,210 options outstanding at December 31, 2016 , and 7,399,820 options outstanding at December 31, 2015 because they were antidilutive. |
Stock-Based Compensation Plans | Stock-based Compensation Plans Entergy grants stock options, restricted stock, performance units, and restricted stock unit awards to key employees of the Entergy subsidiaries under its Equity Ownership Plans, which are shareholder-approved stock-based compensation plans. These plans are described more fully in Note 12 to the financial statements. The cost of the stock-based compensation is charged to income over the vesting period. Awards under Entergy’s plans generally vest over three years. Effective January 1, 2017, Entergy adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU permits the election of an accounting policy change to the method of recognizing forfeitures of stock-based compensation. Previously, Entergy recorded an estimate of the number of forfeitures expected to occur each period. Entergy elected to change this policy to account for forfeitures when they occur. This accounting change was applied retrospectively, but did not result in an adjustment to retained earnings as of January 1, 2017. As a result of adoption of the ASU, Entergy now prospectively recognizes all income tax effects related to share-based payments through the income statement. In the first quarter 2017, stock option expirations, along with other stock compensation activity, resulted in the write-off of $11.5 million of deferred tax assets. |
Accounting For The Effects Of Regulation | Accounting for the Effects of Regulation Entergy’s Utility operating companies and System Energy are rate-regulated enterprises whose rates meet three criteria specified in accounting standards. The Utility operating companies and System Energy have rates that (i) are approved by a body (its regulator) empowered to set rates that bind customers; (ii) are cost-based; and (iii) can be charged to and collected from customers. These criteria may also be applied to separable portions of a utility’s business, such as the generation or transmission functions, or to specific classes of customers. Because the Utility operating companies and System Energy meet these criteria, each of them capitalizes costs, which would otherwise be charged to expense, if the rate actions of its regulator make it probable that those costs will be recovered in future revenue. Such capitalized costs are reflected as regulatory assets in the accompanying financial statements. When an enterprise concludes that recovery of a regulatory asset is no longer probable, the regulatory asset must be removed from the entity’s balance sheet. An enterprise that ceases to meet the three criteria for all or part of its operations should report that event in its financial statements. In general, the enterprise no longer meeting the criteria should eliminate from its balance sheet all regulatory assets and liabilities related to the applicable operations. Additionally, if it is determined that a regulated enterprise is no longer recovering all of its costs, it is possible that an impairment may exist that could require further write-offs of plant assets. Entergy Louisiana does not apply regulatory accounting standards to the Louisiana retail deregulated portion of River Bend, the 30% interest in River Bend formerly owned by Cajun, and its steam business, unless specific cost recovery is provided for in tariff rates. The Louisiana retail deregulated portion of River Bend is operated under a deregulated asset plan representing a portion (approximately 15% ) of River Bend plant costs, generation, revenues, and expenses established under a 1992 LPSC order. The plan allows Entergy Louisiana to sell the electricity from the deregulated assets to Louisiana retail customers at 4.6 cents per kWh or off-system at higher prices, with certain provisions for sharing incremental revenue above 4.6 cents per kWh between customers and shareholders. |
Regulatory Asset for Income Taxes | Regulatory Asset or Liability for Income Taxes Accounting standards for income taxes provide that a regulatory asset or liability be recorded if it is probable that the currently determinable future increase or decrease in regulatory income tax expense will be recovered from or returned to customers through future rates. There are two main sources of Entergy’s regulatory asset or liability for income taxes. There is a regulatory asset related to the ratemaking treatment of the tax effects of book depreciation for the equity component of AFUDC that has been capitalized to property, plant, and equipment but for which there is no corresponding tax basis. Equity-AFUDC is a component of property, plant, and equipment that is included in rate base when the plant is placed in service. |
Cash And Cash Equivalents | Cash and Cash Equivalents Entergy considers all unrestricted highly liquid debt instruments with an original maturity of three months or less at date of purchase to be cash equivalents. |
Securitization Recovery Trust Accounts | Securitization Recovery Trust Accounts The funds that Entergy Arkansas, Entergy Louisiana, Entergy New Orleans, and Entergy Texas hold in their securitization recovery trust accounts are not classified as cash and cash equivalents or restricted cash and cash equivalents because of their nature, uses, and restrictions. These funds are classified as part of other current assets and other investments, depending on the timeframe within which the Registrant Subsidiary expects to use the funds. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects Entergy’s best estimate of losses on the accounts receivable balances. The allowance is based on accounts receivable agings, historical experience, and other currently available evidence. Utility operating company customer accounts receivable are written off consistent with approved regulatory requirements. |
Investments | Investments 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, for unrealized gains/(losses) on investment securities the Registrant Subsidiaries record an offsetting amount in other regulatory liabilities/assets. For the 30% interest in River Bend formerly owned by Cajun, Entergy Louisiana records an offsetting amount in other deferred credits for the excess trust earnings not currently expected to be needed to decommission the plant. Decommissioning trust funds for Pilgrim, Indian Point 1, Indian Point 2, Indian Point 3, 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. 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 is 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. Effective January 1, 2018 with the adoption of ASU 2016-01, unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds will be recorded in earnings as they occur rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of the Registrant Subsidiaries, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. See Note 16 to the financial statements for details on the decommissioning trust funds. |
Equity Method Investments | Equity Method Investments Entergy owns investments that are accounted for under the equity method of accounting because Entergy’s ownership level results in significant influence, but not control, over the investee and its operations. Entergy records its share of the investee’s comprehensive earnings and losses in income and as an increase or decrease to the investment account. Any cash distributions are charged against the investment account. Entergy discontinues the recognition of losses on equity investments when its share of losses equals or exceeds its carrying amount for an investee plus any advances made or commitments to provide additional financial support. |
Derivative Financial Instruments And Commodity Derivatives | Derivative Financial Instruments and Commodity Derivatives The accounting standards for derivative instruments and hedging activities require that all derivatives be recognized at fair value on the balance sheet, either as assets or liabilities, unless they meet various exceptions including the normal purchase/normal sale criteria. The changes in the fair value of recognized derivatives are recorded each period in current earnings or other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. Due to regulatory treatment, an offsetting regulatory asset or liability is recorded for changes in fair value of recognized derivatives for the Registrant Subsidiaries. Contracts for commodities that will be physically delivered in quantities expected to be used or sold in the ordinary course of business, including certain purchases and sales of power and fuel, meet the normal purchase, normal sales criteria and are not recognized on the balance sheet. Revenues and expenses from these contracts are reported on a gross basis in the appropriate revenue and expense categories as the commodities are received or delivered. For other contracts for commodities in which Entergy is hedging the variability of cash flows related to a variable-rate asset, liability, or forecasted transactions that qualify as cash flow hedges, the changes in the fair value of such derivative instruments are reported in other comprehensive income. To qualify for hedge accounting, the relationship between the hedging instrument and the hedged item must be documented to include the risk management objective and strategy and, at inception and on an ongoing basis, the effectiveness of the hedge in offsetting the changes in the cash flows of the item being hedged. Gains or losses accumulated in other comprehensive income are reclassified to earnings in the periods when the underlying transactions actually occur. The ineffective portions of all hedges are recognized in current-period earnings. Changes in the fair value of derivative instruments that are not designated as cash flow hedges are recorded in current-period earnings on a mark-to-market basis. Entergy has determined that contracts to purchase uranium do not meet the definition of a derivative under the accounting standards for derivative instruments because they do not provide for net settlement and the uranium markets are not sufficiently liquid to conclude that forward contracts are readily convertible to cash. If the uranium markets do become sufficiently liquid in the future and Entergy begins to account for uranium purchase contracts as derivative instruments, the fair value of these contracts would be accounted for consistent with Entergy’s other derivative instruments. See Note 15 to the financial statements for further details on Entergy’s derivative instruments and hedging activities. |
Fair Values | Fair Values The estimated fair values of Entergy’s financial instruments and derivatives are determined using historical prices, bid prices, market quotes, and financial modeling. Considerable judgment is required in developing the estimates of fair value. Therefore, estimates are not necessarily indicative of the amounts that Entergy could realize in a current market exchange. Gains or losses realized on financial instruments held by regulated businesses may be reflected in future rates and therefore do not affect net income. Entergy considers the carrying amounts of most financial instruments classified as current assets and liabilities to be a reasonable estimate of their fair value because of the short maturity of these instruments. See Note 15 to the financial statements for further discussion of fair value. |
Impairment Of Long-Lived Assets | Impairment of Long-lived Assets Entergy periodically reviews long-lived assets held in all of its business segments whenever events or changes in circumstances indicate that recoverability of these assets is uncertain. Generally, the determination of recoverability is based on the undiscounted net cash flows expected to result from such operations and assets. Projected net cash flows depend on the expected operating life of the assets, the future operating costs associated with the assets, the efficiency and availability of the assets and generating units, and the future market and price for energy and capacity over the remaining life of the assets. Because the values of their long-lived assets are impaired, and their remaining estimated operating lives significantly reduced, the Entergy Wholesale Commodities nuclear plants, except for Palisades, are charging additional expenditures for capital assets directly to expense when incurred because their undiscounted cash flows are insufficient to recover the carrying amount of these capital additions. See Note 14 to the financial statements for further discussions of the impairments of the Entergy Wholesale Commodities nuclear plants. |
River Bend AFUDC | River Bend AFUDC The River Bend AFUDC gross-up is a regulatory asset that represents the incremental difference imputed by the LPSC between the AFUDC actually recorded by Entergy Louisiana on a net-of-tax basis during the construction of River Bend and what the AFUDC would have been on a pre-tax basis. The imputed amount was only calculated on that portion of River Bend that the LPSC allowed in rate base and is being amortized through August 2025. |
Reacquired Debt | Reacquired Debt The premiums and costs associated with reacquired debt of Entergy’s Utility operating companies and System Energy (except that portion allocable to the deregulated operations of Entergy Louisiana) are included in regulatory assets and are being amortized over the life of the related new issuances, or over the life of the original debt issuance if the debt is not refinanced, in accordance with ratemaking treatment. |
Taxes Imposed On Revenue-Producing Transactions | Taxes Imposed on Revenue-Producing Transactions Governmental authorities assess taxes that are both imposed on and concurrent with a specific revenue-producing transaction between a seller and a customer, including, but not limited to, sales, use, value added, and some excise taxes. Entergy presents these taxes on a net basis, excluding them from revenues, unless required to report them differently by a regulatory authority. |
Presentation Of Preferred Stock Without Sinking Fund | Presentation of Preferred Stock without Sinking Fund Accounting standards regarding non-controlling interests and the classification and measurement of redeemable securities require the classification of preferred securities between liabilities and shareholders’ equity on the balance sheet if the holders of those securities have protective rights that allow them to gain control of the board of directors in certain circumstances. These rights would have the effect of giving the holders the ability to potentially redeem their securities, even if the likelihood of occurrence of these circumstances is considered remote. The Entergy Arkansas, Entergy Mississippi, and, prior to December 1, 2017, Entergy New Orleans articles of incorporation provide, generally, that the holders of each company’s preferred securities may elect a majority of the respective company’s board of directors if dividends are not paid for a year, until such time as the dividends in arrears are paid. Therefore, Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans present their preferred securities outstanding between liabilities and shareholders’ equity on the balance sheet. In November 2017, Entergy New Orleans redeemed its outstanding preferred securities as part of a multi-step process to undertake an internal restructuring. See Note 2 to the financial statements for a discussion of Entergy New Orleans’s internal restructuring. The outstanding preferred securities of Entergy Arkansas, Entergy Mississippi, and Entergy New Orleans, and Entergy Utility Holding Company (a Utility subsidiary) and Entergy Finance Holding (an Entergy Wholesale Commodities subsidiary), whose preferred holders also have protective rights, are similarly presented between liabilities and equity on Entergy’s consolidated balance sheets. The preferred dividends or distributions paid by all subsidiaries are reflected for all periods presented outside of consolidated net income. |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The ASU’s core principle is that “an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” The ASU details a five-step model that should be followed to achieve the core principle. With FASB issuance of ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2014-09 is effective for Entergy for the first quarter 2018. Entergy has selected the modified retrospective transition method. Entergy’s evaluation of ASU 2014-09 has not identified any effects that it expects will affect materially its results of operations, financial position, or cash flows, other than changes in required financial statement disclosures. The adoption of the ASU did not result in an adjustment to retained earnings as of January 1, 2018. In January 2016 the FASB issued ASU No. 2016-01 “Financial Instruments (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The ASU requires investments in equity securities, excluding those accounted for under the equity method or resulting in consolidation of the investee, to be measured at fair value with changes recognized in net income. The ASU requires a qualitative assessment to identify impairments of investments in equity securities that do not have a readily determinable fair value. ASU 2016-01 is effective for Entergy for the first quarter 2018. Entergy expects that ASU 2016-01 will affect its results of operations by requiring unrealized gains and losses on investments in equity securities held by the nuclear decommissioning trust funds to be recorded in earnings rather than in other comprehensive income. In accordance with the regulatory treatment of the decommissioning trust funds of Entergy Arkansas, Entergy Louisiana, and System Energy, an offsetting amount of unrealized gains/losses will continue to be recorded in other regulatory liabilities/assets. Entergy recorded an adjustment to retained earnings of $633 million as of January 1, 2018 for the cumulative effect of the unrealized gains and losses on investments in equity securities held by the decommissioning trust funds that do not meet the criteria for regulatory accounting treatment. In February 2016 the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The ASU’s core principle is that “a lessee should recognize the assets and liabilities that arise from leases.” The ASU considers that “all leases create an asset and a liability,” and accordingly requires recording the assets and liabilities related to all leases with a term greater than 12 months. In January 2018 the FASB issued ASU No. 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” providing entities the option to elect not to evaluate existing land easements that are not currently accounted for under the previous lease standard. ASU 2016-02 is effective for Entergy for the first quarter 2019, and Entergy does not expect to early adopt the standard. Entergy expects that ASU 2016-02 will affect its financial position by increasing the assets and liabilities recorded relating to its operating leases. Entergy is evaluating ASU 2016-02 for other effects on its results of operations, financial position, cash flows, and financial statement disclosures, as well as the potential to elect various practical expedients permitted by the standards. In June 2016 the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU requires entities to record a valuation allowance on financial instruments recorded at amortized cost or classified as available-for-sale debt securities for the total credit losses expected over the life of the instrument. Increases and decreases in the valuation allowance will be recognized immediately in earnings. ASU 2016-13 is effective for Entergy for the first quarter 2020. Entergy is evaluating ASU 2016-13 for the expected effects on its results of operations, financial position, and cash flows. In October 2016 the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The ASU requires entities to recognize the income tax consequences of intra-entity asset transfers, other than inventory, at the time the transfer occurs. ASU 2016-16 is effective for Entergy for the first quarter 2018 and will affect its statement of financial position by requiring recognition of deferred tax assets or liabilities arising from intra-entity asset transfers. Entergy recorded an adjustment to retained earnings of $56 million as of January 1, 2018 for the cumulative-effect of the recognition of the deferred tax assets arising from intra-entity asset transfers. In March 2017 the FASB issued ASU No. 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires entities to report the service cost component of defined benefit pension cost and postretirement benefit cost (net benefit cost) in the same line item as other compensation costs arising from services rendered during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, the ASU allows only the service cost component of net benefit cost to be eligible for capitalization. ASU 2017-07 is effective for Entergy for the first quarter 2018. Entergy does not expect ASU 2017-07 to affect materially its results of operations, financial position, or cash flows. In August 2017 the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The ASU makes a number of amendments to hedge accounting, most significantly changing the recognition and presentation of highly effective hedges. Upon adoption of the standard there will no longer be separate recognition or presentation of the ineffective portion of highly effective hedges. In addition, the ASU allows entities to designate a contractually-specified component as the hedged risk, simplifies the process for assessing the effectiveness of hedges, and adds additional disclosure requirements for hedges. ASU 2017-12 is effective for Entergy for the first quarter 2019. Entergy does not expect to early adopt the standard. Entergy expects that ASU 2017-12 will affect its net income by eliminating volatility in earnings related to the ineffective portion of designated hedges on nuclear power sales. Entergy is evaluating ASU 2017-12 for other effects on its results of operations, financial position, or cash flows. In February 2018 the FASB issued ASU No. 2018-02, “Income Statement- Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” The ASU allows reclassification from accumulated other comprehensive income to retained earnings for certain tax effects resulting from the Tax Cuts and Jobs Act that would otherwise be stranded in accumulated other comprehensive income . ASU 2018-02 is effective for Entergy for the first quarter 2019, but may be early adopted. Entergy plans to adopt the ASU in the first quarter 2018. Entergy expects that upon the adoption of ASU 2018-02 it will record to the statement of financial position a net reclassification reducing retained earnings and increasing accumulated other comprehensive income by approximately $15 million . Entergy does not expect that ASU 2018-02 will have any other material effect on its results of operations, financial position, or cash flows. |
Summary Of Significant Accoun31
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for Entergy (including property under capital lease and associated accumulated amortization) by business segment and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,946 $6,694 $252 $— Other 4,215 4,118 97 — Transmission 5,844 5,842 2 — Distribution 8,000 8,000 — — Other 1,755 1,748 3 4 Construction work in progress 1,981 1,951 30 — Nuclear fuel 923 822 101 — Property, plant, and equipment - net $29,664 $29,175 $485 $4 2016 Entergy Utility Entergy Wholesale Commodities Parent & Other (In Millions) Production Nuclear $6,948 $6,524 $424 $— Other 4,047 4,000 47 — Transmission 5,226 5,223 3 — Distribution 7,648 7,648 — — Other 1,636 1,521 111 4 Construction work in progress 1,378 1,334 44 — Nuclear fuel 1,038 817 221 — Property, plant, and equipment - net $27,921 $27,067 $850 $4 |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Schedule Of Earnings Per Share, Basic And Diluted | The following table presents Entergy’s basic and diluted earnings per share calculation included on the consolidated statements of operations: For the Years Ended December 31, 2017 2016 2015 (In Millions, Except Per Share Data) $/share $/share $/share Net income (loss) attributable to Entergy Corporation $411.6 ($583.6 ) ($176.6 ) Basic earnings (loss) per average common share 179.7 $2.29 178.9 ($3.26 ) 179.2 ($0.99 ) Average dilutive effect of: Stock options 0.2 — — — — — Other equity plans 0.6 (0.01 ) — — — — Diluted earnings (loss) per average common shares 180.5 $2.28 178.9 ($3.26 ) 179.2 ($0.99 ) |
Entergy Arkansas [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Louisiana [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Mississippi [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy New Orleans [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Entergy Texas [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
System Energy [Member] | |
Schedule Of Net Property, Plant, And Equipment | Net property, plant, and equipment for the Registrant Subsidiaries (including property under capital lease and associated accumulated amortization) by company and functional category, as of December 31, 2017 and 2016 , is shown below: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,368 $3,664 $— $— $— $1,660 Other 806 2,016 560 207 531 — Transmission 1,650 2,148 900 81 1,021 42 Distribution 2,226 2,748 1,316 440 1,270 — Other 247 592 203 204 168 39 Construction work in progress 281 1,281 149 47 102 70 Nuclear fuel 277 337 — — — 208 Property, plant, and equipment - net $6,855 $12,786 $3,128 $979 $3,092 $2,019 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) Production Nuclear $1,201 $3,540 $— $— $— $1,783 Other 801 1,966 537 213 483 — Transmission 1,491 1,925 740 79 943 45 Distribution 2,144 2,632 1,242 414 1,216 — Other 216 517 201 188 106 25 Construction work in progress 304 670 118 25 111 44 Nuclear fuel 307 250 — — — 260 Property, plant, and equipment - net $6,464 $11,500 $2,838 $919 $2,859 $2,157 |
Schedule Of Depreciation Rates On Average Depreciable Property | Depreciation rates on average depreciable property for the Registrant Subsidiaries are shown below: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy 2017 2.5% 2.3% 3.1% 3.5% 2.6% 2.8% 2016 2.5% 2.3% 3.1% 3.4% 2.5% 2.8% 2015 2.6% 2.3% 3.2% 3.0% 2.6% 2.8% |
Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations | As of December 31, 2017 , the subsidiaries’ investment and accumulated depreciation in each of these generating stations were as follows: Generating Stations Fuel Type Total Megawatt Capability (a) Ownership Investment Accumulated Depreciation (In Millions) Utility business: Entergy Arkansas - Independence Unit 1 Coal 836 31.50 % $140 $103 Independence Common Facilities Coal 15.75 % $34 $27 White Bluff Units 1 and 2 Coal 1,636 57.00 % $531 $364 Ouachita (b) Common Facilities Gas 66.67 % $172 $150 Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Louisiana - Roy S. Nelson Unit 6 Coal 550 40.25 % $280 $194 Roy S. Nelson Unit 6 Common Facilities Coal 25.79 % $15 $6 Big Cajun 2 Unit 3 Coal 574 24.15 % $150 $117 Big Cajun 2 Unit 3 Common Facilities Coal 8.05 % $5 $2 Ouachita (b) Common Facilities Gas 33.33 % $90 $75 Acadia Common Facilities Gas 50.00 % $20 $— Union (c) Common Facilities Gas 50.00 % $55 $3 Entergy Mississippi - Independence Units 1 and 2 and Common Facilities Coal 1,678 25.00 % $266 $156 Entergy New Orleans - Union (c) Units 1 and 2 Common Facilities Gas 50.00 % $1 $— Union (c) Common Facilities Gas 25.00 % $28 $3 Entergy Texas - Roy S. Nelson Unit 6 Coal 550 29.75 % $200 $114 Roy S. Nelson Unit 6 Common Facilities Coal 14.16 % $6 $3 Big Cajun 2 Unit 3 Coal 574 17.85 % $113 $76 Big Cajun 2 Unit 3 Common Facilities Coal 5.95 % $3 $1 System Energy - Grand Gulf (d) Unit 1 Nuclear 1,414 90.00 % $4,916 $3,175 Entergy Wholesale Commodities: Independence Unit 2 Coal 842 14.37 % $73 $50 Independence Common Facilities Coal 7.18 % $17 $12 Roy S. Nelson Unit 6 Coal 550 10.90 % $113 $62 Roy S. Nelson Unit 6 Common Facilities Coal 5.19 % $2 $1 (a) “Total Megawatt Capability” is the dependable load carrying capability as demonstrated under actual operating conditions based on the primary fuel (assuming no curtailments) that each station was designed to utilize. (b) Ouachita Units 1 and 2 are owned 100% by Entergy Arkansas and Ouachita Unit 3 is owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the common facilities and not for the generating units. (c) Union Unit 1 is owned 100% by Entergy New Orleans, Union Unit 2 is owned 100% by Entergy Arkansas, Union Units 3 and 4 are owned 100% by Entergy Louisiana. The investment and accumulated depreciation numbers above are only for the specified common facilities and not for the generating units. (d) Includes a leasehold interest held by System Energy. System Energy’s Grand Gulf lease obligations are discussed in Note 10 to the financial statements. |
Rate And Regulatory Matters (Ta
Rate And Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Details Of Other Regulatory Assets | Entergy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $2,642.3 $2,635.5 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 746.0 677.2 Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 2 – Storm Cost Recovery Filings with Retail Regulators ) (Note 5) 558.9 637.0 Removal costs - recovered through depreciation rates (Note 9) (a) 436.5 353.9 Opportunity Sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Retail rate deferrals - recovered through rate riders as rates are redetermined by retail regulators 86.4 22.1 Unamortized loss on reacquired debt - recovered over term of debt 82.9 91.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 73.7 100.0 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 New nuclear generation development costs (Note 2 - New Nuclear Generation Development Costs ) (b) 36.4 43.7 Other 125.1 161.2 Entergy Total $4,935.7 $4,769.9 |
Schedule of Regulatory Liabilities | Entergy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $989.3 $735.5 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Asset retirement obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 43.5 79.8 Entergy Total $1,588.5 $1,572.9 |
Entergy Louisiana [Member] | |
Details Of Other Regulatory Assets | Entergy Louisiana 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Non-Qualified Pension Plans ) (a) $724.6 $715.7 Asset Retirement Obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 218.6 199.4 Little Gypsy costs – recovered through securitization (Note 5 – Entergy Louisiana Securitization Bonds - Little Gypsy ) 71.4 97.8 New nuclear generation development costs - recovery through formula rate plan beginning December 2014 through November 2022 (Note 2 - New Nuclear Generation Development Costs ) (b) 35.8 43.1 Unamortized loss on reacquired debt - recovered over term of debt 24.7 27.0 Storm damage costs - recovered through retail rates (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 14.3 — Business combination external costs deferral - recovery through formula rate plan beginning December 2015 through November 2025 (b) 14.1 15.2 River Bend AFUDC - recovered through August 2025 (Note 1 – River Bend AFUDC ) 12.9 14.8 Other 29.4 55.1 Entergy Louisiana Total $1,145.8 $1,168.1 |
Schedule of Regulatory Liabilities | Entergy Louisiana 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $323.7 $235.4 Vidalia purchased power agreement (Note 8) (b) 151.6 202.4 Louisiana Act 55 financing savings obligation (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) (b) 124.8 165.5 Business combination guaranteed customer benefits - returned to customers through retail rates and fuel rates beginning December 2015 through November 2024 (Note 2 - Entergy Louisiana and Entergy Gulf States Louisiana Business Combination) 65.8 83.5 Gas hedging costs - refunded through fuel rates (Note 15 - Derivatives ) — 10.9 Asset Retirement Obligation - return to customers dependent upon timing of decommissioning (Note 9) (a) 36.7 32.7 Removal costs - returned to customers through depreciation rates (Note 9) (a) 32.4 53.9 Waterford 3 replacement steam generator provision (Note 2 - Retail Rate Proceedings ) — 68.0 Other 26.1 28.7 Entergy Louisiana Total $761.1 $881.0 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million be collected from customers over the 22-month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC requested rehearing of the FERC’s October 2011 order. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20-month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy sought rehearing of the February 2014 order with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. In August 2017 the D.C. Circuit issued a decision addressing the LPSC’s appeal of the FERC’s October 2011 and February 2014 orders. On the issue of the FERC’s implementation of the prospective remedy as of June 2005 and whether the bandwidth remedy should be extended for an additional 17 months in years 2004-2005, the D.C. Circuit affirmed the FERC’s implementation of the remedy and denied the LPSC’s appeal. On the issue of whether the operating companies should be required to issue refunds for the 20-month period from September 2001 to May 2003, the D.C. Circuit granted the FERC’s request for agency reconsideration and remanded that issue back to the FERC for further proceedings as requested by all parties to the appeal. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC filed protests. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy New Orleans [Member] | |
Details Of Other Regulatory Assets | Entergy New Orleans 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $102.8 $108.8 Storm damage costs, including hurricane costs - recovered through retail rates and securitization (Note 2 - Storm Cost Recovery Filings with Retail Regulators ) 82.3 93.6 Removal costs - recovered through depreciation rates (Note 9) (a) 44.8 40.1 Retail rate deferrals - recovered through rate riders as rates are redetermined monthly or annually 4.4 4.3 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 4.3 4.2 Unamortized loss on reacquired debt - recovered over term of debt 3.0 3.4 Rate case costs - recovered over a 6-year period through September 2021 (Note 2 - Retail Rate Proceedings ) 2.6 3.0 Michoud plant maintenance – recovered over a 7-year period through September 2018 1.4 3.3 Other 5.8 7.4 Entergy New Orleans Total $251.4 $268.1 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million be collected from customers over the 22-month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC requested rehearing of the FERC’s October 2011 order. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20-month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy sought rehearing of the February 2014 order with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. In August 2017 the D.C. Circuit issued a decision addressing the LPSC’s appeal of the FERC’s October 2011 and February 2014 orders. On the issue of the FERC’s implementation of the prospective remedy as of June 2005 and whether the bandwidth remedy should be extended for an additional 17 months in years 2004-2005, the D.C. Circuit affirmed the FERC’s implementation of the remedy and denied the LPSC’s appeal. On the issue of whether the operating companies should be required to issue refunds for the 20-month period from September 2001 to May 2003, the D.C. Circuit granted the FERC’s request for agency reconsideration and remanded that issue back to the FERC for further proceedings as requested by all parties to the appeal. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC filed protests. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Texas [Member] | |
Details Of Other Regulatory Assets | Entergy Texas 2017 2016 (In Millions) Storm damage costs, including hurricane costs - recovered through securitization and retail rates (Note 5 - Entergy Texas Securitization Bonds ) $386.1 $442.4 Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) 169.2 201.7 Transition to competition costs - recovered over a 15-year period through February 2021 37.7 47.9 Removal costs - recovered through depreciation rates (Note 9) (a) 55.2 33.5 Unamortized loss on reacquired debt - recovered over term of debt 8.7 9.0 Other 4.5 5.7 Entergy Texas Total $661.4 $740.2 |
Schedule of Regulatory Liabilities | Entergy Texas 2017 2016 (In Millions) Transition to competition costs - returned to customers through rate riders when rates are redetermined periodically $4.8 $6.2 Other 2.1 2.3 Entergy Texas Total $6.9 $8.5 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million be collected from customers over the 22-month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC requested rehearing of the FERC’s October 2011 order. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20-month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy sought rehearing of the February 2014 order with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. In August 2017 the D.C. Circuit issued a decision addressing the LPSC’s appeal of the FERC’s October 2011 and February 2014 orders. On the issue of the FERC’s implementation of the prospective remedy as of June 2005 and whether the bandwidth remedy should be extended for an additional 17 months in years 2004-2005, the D.C. Circuit affirmed the FERC’s implementation of the remedy and denied the LPSC’s appeal. On the issue of whether the operating companies should be required to issue refunds for the 20-month period from September 2001 to May 2003, the D.C. Circuit granted the FERC’s request for agency reconsideration and remanded that issue back to the FERC for further proceedings as requested by all parties to the appeal. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC filed protests. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
System Energy [Member] | |
Details Of Other Regulatory Assets | System Energy 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans and Other Postretirement Benefits ) (a) $202.7 $193.5 Asset retirement obligation - recovery dependent upon timing of decommissioning (Note 9) (a) 169.1 142.5 Removal costs - recovered through depreciation rates (Note 9) (a) 67.9 69.7 Unamortized loss on reacquired debt - recovered over term of debt 4.6 5.5 System Energy Total $444.3 $411.2 |
Schedule of Regulatory Liabilities | System Energy 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 17) (a) $311.6 $219.3 Grand Gulf sale-leaseback - (Note 10 - Sale and Leaseback Transactions ) 67.9 67.9 Entergy Arkansas ’ s accumulated accelerated Grand Gulf amortization - will be returned to customers when approved by the APSC and the FERC 44.4 44.4 Entergy Mississippi ’ s accumulated accelerated Grand Gulf amortization - amortized and credited through the Unit Power Sales Agreement 32.1 39.3 System Energy Total $456.0 $370.9 |
Entergy Mississippi [Member] | |
Details Of Other Regulatory Assets | Entergy Mississippi 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $218.7 $217.2 Removal costs - recovered through depreciation rates (Note 9) (a) 91.6 82.0 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 49.4 9.3 Unamortized loss on reacquired debt - recovered over term of debt 17.6 18.9 Asset retirement obligation - recovery dependent upon timing of dismantlement of non-nuclear power plants (Note 9) (a) 7.6 7.2 Other 13.0 7.6 Entergy Mississippi Total $397.9 $342.2 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million be collected from customers over the 22-month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC requested rehearing of the FERC’s October 2011 order. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20-month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy sought rehearing of the February 2014 order with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. In August 2017 the D.C. Circuit issued a decision addressing the LPSC’s appeal of the FERC’s October 2011 and February 2014 orders. On the issue of the FERC’s implementation of the prospective remedy as of June 2005 and whether the bandwidth remedy should be extended for an additional 17 months in years 2004-2005, the D.C. Circuit affirmed the FERC’s implementation of the remedy and denied the LPSC’s appeal. On the issue of whether the operating companies should be required to issue refunds for the 20-month period from September 2001 to May 2003, the D.C. Circuit granted the FERC’s request for agency reconsideration and remanded that issue back to the FERC for further proceedings as requested by all parties to the appeal. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC filed protests. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Entergy Arkansas [Member] | |
Details Of Other Regulatory Assets | Entergy Arkansas 2017 2016 (In Millions) Pension & postretirement costs (Note 11 – Qualified Pension Plans , Other Postretirement Benefits , and Non-Qualified Pension Plans ) (a) $757.0 $786.6 Asset retirement obligation - recovery dependent upon timing of decommissioning of nuclear units or dismantlement of non-nuclear power plants (Note 9) (a) 345.2 322.9 Removal costs - recovered through depreciation rates (Note 9) (a) 176.9 128.5 Opportunity sales - recovery will be determined after final order in proceeding (Note 2 - Entergy Arkansas Opportunity Sales Proceeding ) 109.8 — Storm damage costs - recovered either through securitization or retail rates (Note 5 - Entergy Arkansas Securitization Bonds) 76.2 88.9 Retail rate deferrals - recovered through rate riders as rates are redetermined annually 28.2 10.1 Unamortized loss on reacquired debt - recovered over term of debt 24.3 27.6 ANO Fukushima and Flood Barrier costs - recovered through retail rates through February 2026 (Note 2 - Retail Rate Proceedings ) (b) 14.4 16.1 Lake Catherine 4 reliability and sustainability cost deferral - recovery through retail rates (b) 8.9 9.8 Incremental ice storm costs - recovered through 2032 7.4 7.9 MISO costs - recovery through retail rates through 2018 (Note 2 - Retail Rate Proceedings ) (b) 5.5 11.1 Human capital management costs - recovery through retail rates through August 2019 (Note 2 - Retail Rate Proceedings ) (b) 4.4 7.0 Other 9.2 11.5 Entergy Arkansas Total $1,567.4 $1,428.0 |
Schedule of Regulatory Liabilities | Entergy Arkansas 2017 2016 (In Millions) Unrealized gains on nuclear decommissioning trust funds (Note 16) (a) $354.0 $280.8 Other 9.6 25.1 Entergy Arkansas Total $363.6 $305.9 |
The Amount Of Deferred Fuel Costs, That Entergy Expects To Recover (Or Return To Customers) Through Fuel Mechanisms, Subject To Subsequent Regulatory Review | The table below shows the amount of deferred fuel costs as of December 31, 2017 and 2016 that Entergy expects to recover (or return to customers) through fuel mechanisms, subject to subsequent regulatory review. 2017 2016 (In Millions) Entergy Arkansas (a) $130.4 $163.6 Entergy Louisiana (b) $96.7 $119.9 Entergy Mississippi $32.4 $7.0 Entergy New Orleans (b) ($3.7 ) $8.9 Entergy Texas ($67.3 ) ($54.5 ) (a) Includes $67.1 million in 2017 and $66.9 million in 2016 of fuel and purchased power costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. (b) Includes $168.1 million in each year for Entergy Louisiana and $4.1 million in each year for Entergy New Orleans of fuel, purchased power, and capacity costs, which do not currently earn a return on investment and whose recovery periods are indeterminate but are expected to be recovered over a period greater than twelve months. |
Estimate Of Payments Or Receipts Among Utility Operating Companies | The filing shows the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $156 Entergy Louisiana ($75) Entergy Mississippi ($33) Entergy New Orleans ($5) Entergy Texas ($43) Entergy Arkansas made its payment in January 2012. In February 2012, Entergy Arkansas filed for an interim adjustment to its production cost allocation rider requesting that the $156 million be collected from customers over the 22-month period from March 2012 through December 2013. In March 2012 the APSC issued an order stating that the payment can be recovered from retail customers through the production cost allocation rider, subject to refund. The LPSC and the APSC requested rehearing of the FERC’s October 2011 order. In February 2014 the FERC issued a rehearing order addressing its October 2011 order. The FERC denied the LPSC’s request for rehearing on the issues of whether the bandwidth remedy should be made effective earlier than June 1, 2005, and whether refunds should be ordered for the 20-month refund effective period. The FERC granted the LPSC’s rehearing request on the issue of interest on the bandwidth payments/receipts for the June - December 2005 period, requiring that interest be accrued from June 1, 2006 until the date those bandwidth payments/receipts are made. Also in February 2014 the FERC issued an order rejecting the December 2011 compliance filing that calculated the bandwidth payments/receipts for the June - December 2005 period. The FERC order required a new compliance filing that calculates the bandwidth payments/receipts for the June - December 2005 period based on monthly data for the seven individual months including interest pursuant to the February 2014 rehearing order. Entergy sought rehearing of the February 2014 order with respect to the FERC’s determinations regarding interest. In April 2014 the LPSC filed a petition for review of the FERC’s October 2011 and February 2014 orders with the U.S. Court of Appeals for the D.C. Circuit. In August 2017 the D.C. Circuit issued a decision addressing the LPSC’s appeal of the FERC’s October 2011 and February 2014 orders. On the issue of the FERC’s implementation of the prospective remedy as of June 2005 and whether the bandwidth remedy should be extended for an additional 17 months in years 2004-2005, the D.C. Circuit affirmed the FERC’s implementation of the remedy and denied the LPSC’s appeal. On the issue of whether the operating companies should be required to issue refunds for the 20-month period from September 2001 to May 2003, the D.C. Circuit granted the FERC’s request for agency reconsideration and remanded that issue back to the FERC for further proceedings as requested by all parties to the appeal. In April and May 2014, Entergy filed with the FERC an updated compliance filing that provides the payments and receipts among the Utility operating companies pursuant to the FERC’s February 2014 orders. The filing shows the following net payments and receipts, including interest, among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $68 Entergy Louisiana ($10) Entergy Mississippi ($11) Entergy New Orleans $2 Entergy Texas ($49) These payments were made in May 2014. The LPSC, City Council, and APSC filed protests. |
Payments/Receipts Among The Utility Operating Companies To Achieve Rough Production Cost Equalization | These filings showed the following payments/receipts among the Utility operating companies were necessary to achieve rough production cost equalization as defined by the FERC’s orders: Payments (Receipts) 2007 2008 2009 2010 2011 2012 2013 2014 (In Millions) Entergy Arkansas $252 $252 $390 $41 $77 $41 $— $— Entergy Louisiana ($211 ) ($160 ) ($247 ) ($22 ) ($12 ) ($41 ) $— $— Entergy Mississippi ($41 ) ($20 ) ($24 ) ($19 ) ($40 ) $— $— $— Entergy New Orleans $— ($7 ) $— $— ($25 ) $— ($15 ) ($15 ) Entergy Texas ($30 ) ($65 ) ($119 ) $— $— $— $15 $15 |
2010 Rate Filing Resulting Payment (Receipt) for Reclassification of Production Costs [Table Text Block] | The result of the true-up payments and receipts for the recalculation of production costs resulted in the following payments/receipts among the Utility operating companies: Payments (Receipts) (In Millions) Entergy Arkansas $2 Entergy Louisiana $6 Entergy Mississippi ($4) Entergy New Orleans ($1) Entergy Texas ($3) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy Corporation and Subsidiaries consist of the following: 2017 2016 2015 (In Thousands) Current: Federal $29,595 $45,249 $77,166 Foreign — 68 97 State 15,478 (14,960 ) 157,829 Total 45,073 30,357 235,092 Deferred and non-current - net 505,010 (840,465 ) (864,799 ) Investment tax credit adjustments - net (7,513 ) (7,151 ) (13,220 ) Income taxes $542,570 ($817,259 ) ($642,927 ) |
Total Income Taxes For Entergy Corporation And Subsidiaries | The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 2016 2015 (In Thousands) Net income (loss) attributable to Entergy Corporation $411,612 ($583,618 ) ($176,562 ) Preferred dividend requirements of subsidiaries 13,741 19,115 19,828 Consolidated net income (loss) 425,353 (564,503 ) (156,734 ) Income taxes 542,570 (817,259 ) (642,927 ) Income (loss) before income taxes $967,923 ($1,381,762 ) ($799,661 ) Computed at statutory rate (35%) $338,773 ($483,617 ) ($279,881 ) Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 44,179 40,581 29,944 Regulatory differences - utility plant items 39,825 33,581 32,089 Equity component of AFUDC (33,282 ) (23,647 ) (18,191 ) Amortization of investment tax credits (10,204 ) (10,889 ) (11,136 ) Flow-through / permanent differences 8,727 (19,307 ) (7,872 ) Tax legislation enactment (a) 560,410 — — Louisiana business combination — — (333,655 ) Entergy Wholesale Commodities restructuring (b) (373,277 ) (237,760 ) — Act 55 financing settlement (d) — (63,477 ) — FitzPatrick disposition (44,344 ) — — Provision for uncertain tax positions (c) (d) 8,756 (67,119 ) (56,683 ) Valuation allowance — 11,411 — Other - net 3,007 2,984 2,458 Total income taxes as reported $542,570 ($817,259 ) ($642,927 ) Effective Income Tax Rate 56.1 % 59.1 % 80.4 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Other Tax Matters - Entergy Wholesale Commodities Restructuring” below for discussion of the Entergy Wholesale Commodities restructuring. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for 2015. (d) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for 2016. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for Entergy Corporation and Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Deferred tax liabilities: Plant basis differences - net ($3,963,798 ) ($6,362,905 ) Regulatory assets — (584,572 ) Nuclear decommissioning trusts/receivables (1,657,808 ) (1,739,977 ) Pension, net funding (350,743 ) (429,896 ) Combined unitary state taxes (24,645 ) (33,063 ) Power purchase agreements (19,621 ) (993 ) Other (249,327 ) (251,719 ) Total (6,265,942 ) (9,403,125 ) Deferred tax assets: Nuclear decommissioning liabilities 964,945 1,399,468 Regulatory liabilities 841,370 255,272 Pension and other post-employment benefits 343,817 539,456 Sale and leaseback 122,397 135,866 Compensation 75,217 99,300 Accumulated deferred investment tax credit 59,285 92,375 Provision for allowances and contingencies 126,391 188,390 Net operating loss carryforwards 467,255 334,025 Capital losses and miscellaneous tax credits 16,738 18,470 Valuation allowance (137,283 ) (104,277 ) Other 54,058 59,079 Total 2,934,190 3,017,424 Non-current accrued taxes (including unrecognized tax benefits) (956,547 ) (991,704 ) Accumulated deferred income taxes and taxes accrued ($4,288,299 ) ($7,377,405 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | Entergy’s estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Carryover Description Carryover Amount Year(s) of expiration Federal net operating losses $10.7 billion 2023-2037 State net operating losses $9.6 billion 2018-2037 Miscellaneous federal and state credits $96.6 million 2018-2036 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of Entergy’s beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 2015 (In Thousands) Gross balance at January 1 $3,909,855 $2,611,585 $4,736,785 Additions based on tax positions related to the current year 1,120,687 1,532,782 1,850,705 Additions for tax positions of prior years 283,683 368,404 59,815 Reductions for tax positions of prior years (a) (442,379 ) (265,653 ) (3,966,535 ) Settlements — (337,263 ) (68,227 ) Lapse of statute of limitations — — (958 ) Gross balance at December 31 4,871,846 3,909,855 2,611,585 Offsets to gross unrecognized tax benefits: Carryovers and refund claims (3,945,524 ) (2,922,085 ) (1,264,483 ) Cash paid to taxing authorities (10,000 ) (10,000 ) — Unrecognized tax benefits net of unused tax attributes, refund claims and payments (b) $916,322 $977,770 $1,347,102 (a) The primary reduction for 2015 is related to the nuclear decommissioning costs treatment discussed in “ Income Tax Audits - 2008-2009 IRS Audit ” below. (b) Potential tax liability above what is payable on tax returns |
Entergy Arkansas [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
Entergy Louisiana [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
Entergy Mississippi [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
Entergy New Orleans [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
Entergy Texas [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
System Energy [Member] | |
Income Tax Expenses From Continuing Operations | Income taxes for 2017 , 2016 , and 2015 for Entergy’s Registrant Subsidiaries consist of the following: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $16,086 ($84,250 ) ($8,845 ) ($30,635 ) $6,034 $47,674 State 9,191 1,480 (924 ) (728 ) 310 5,314 Total 25,277 (82,770 ) (9,769 ) (31,363 ) 6,344 52,988 Deferred and non-current - net 69,753 572,988 83,501 62,946 43,102 19,243 Investment tax credit adjustments - net (1,226 ) (4,920 ) 187 1,695 (965 ) (2,262 ) Income taxes $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal ($14,748 ) ($124,113 ) $10,603 ($91,067 ) $19,656 $29,628 State 2,805 10,757 2,257 566 1,374 (25,825 ) Total (11,943 ) (113,356 ) 12,860 (90,501 ) 21,030 3,803 Deferred and non-current - net 120,942 208,157 46,984 119,345 42,982 71,051 Investment tax credit adjustments - net (1,226 ) (5,067 ) 4,010 (139 ) (915 ) (3,793 ) Income taxes $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Current: Federal $66,966 $101,382 $25,628 ($9,346 ) $53,313 ($63,302 ) State 6,265 35,406 6,832 1,784 2,450 26,755 Total 73,231 136,788 32,460 (7,562 ) 55,763 (36,547 ) Deferred and non-current - net (31,463 ) 47,220 31,149 32,890 (17,599 ) 93,491 Investment tax credit adjustments - net (1,227 ) (5,337 ) (1,737 ) (138 ) (914 ) (3,867 ) Income taxes $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 |
Total Income Taxes For Entergy Corporation And Subsidiaries | Total income taxes for the Registrant Subsidiaries differ from the amounts computed by applying the statutory income tax rate to income before taxes. The reasons for the differences for the years 2017 , 2016 , and 2015 are: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $139,844 $316,347 $110,032 $44,553 $76,173 $78,596 Income taxes 93,804 485,298 73,919 33,278 48,481 69,969 Pretax income $233,648 $801,645 $183,951 $77,831 $124,654 $148,565 Computed at statutory rate (35%) $81,777 $280,576 $64,383 $27,241 $43,629 $51,998 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,586 31,927 6,202 2,842 527 5,635 Regulatory differences - utility plant items 7,220 12,168 1,356 619 5,581 12,880 Equity component of AFUDC (6,458 ) (18,020 ) (3,383 ) (847 ) (2,353 ) (2,221 ) Amortization of investment tax credits (1,201 ) (4,871 ) (160 ) (124 ) (951 ) (2,896 ) Flow-through / permanent differences 3,098 3,774 1,567 (3,352 ) 1,428 (276 ) Tax legislation enactment (a) (3,090 ) 217,258 3,492 6,153 2,981 (69 ) Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions 200 5,700 228 600 (2,617 ) 4,800 Other - net 672 1,444 234 146 256 118 Total income taxes as reported $93,804 $485,298 $73,919 $33,278 $48,481 $69,969 Effective Income Tax Rate 40.1 % 60.5 % 40.2 % 42.8 % 38.9 % 47.1 % 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $167,212 $622,047 $109,184 $48,849 $107,538 $96,744 Income taxes 107,773 89,734 63,854 28,705 63,097 71,061 Pretax income $274,985 $711,781 $173,038 $77,554 $170,635 $167,805 Computed at statutory rate (35%) $96,245 $249,123 $60,563 $27,144 $59,722 $58,732 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 11,652 29,014 5,592 3,543 449 7,001 Regulatory differences - utility plant items 10,971 8,094 (1,154 ) 2,329 4,140 9,201 Equity component of AFUDC (5,985 ) (9,774 ) (2,030 ) (412 ) (2,666 ) (2,780 ) Amortization of investment tax credits (1,201 ) (5,019 ) (160 ) (132 ) (900 ) (3,476 ) Flow-through / permanent differences (3,848 ) (980 ) 764 (3,609 ) 634 (883 ) Act 55 financing settlement (b) — (61,620 ) — — (454 ) — Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (b) (717 ) (75,871 ) 50 (300 ) 1,926 3,151 Other - net 656 1,425 229 142 246 115 Total income taxes as reported $107,773 $89,734 $63,854 $28,705 $63,097 $71,061 Effective Income Tax Rate 39.2 % 12.6 % 36.9 % 37.0 % 37.0 % 42.3 % 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net income $74,272 $446,639 $92,708 $44,925 $69,625 $111,318 Income taxes 40,541 178,671 61,872 25,190 37,250 53,077 Pretax income $114,813 $625,310 $154,580 $70,115 $106,875 $164,395 Computed at statutory rate (35%) $40,185 $218,859 $54,103 $24,540 $37,406 $57,538 Increases (reductions) in tax resulting from: State income taxes net of federal income tax effect 6,643 23,650 5,219 2,887 1,621 6,403 Regulatory differences - utility plant items 7,299 3,013 2,383 2,201 3,703 12,167 Equity component of AFUDC (4,979 ) (5,420 ) (1,083 ) (451 ) (1,987 ) (2,973 ) Amortization of investment tax credits (1,201 ) (5,252 ) (160 ) (111 ) (900 ) (3,476 ) Flow-through / permanent differences (4,062 ) 2,460 431 (4,539 ) 530 618 Non-taxable dividend income — (44,658 ) — — — — Provision for uncertain tax positions (c) (3,978 ) (15,377 ) 756 525 (3,365 ) (17,313 ) Other - net 634 1,396 223 138 242 113 Total income taxes as reported $40,541 $178,671 $61,872 $25,190 $37,250 $53,077 Effective Income Tax Rate 35.3 % 28.6 % 40.0 % 35.9 % 34.9 % 32.3 % (a) See “ Other Tax Matters - Tax Cuts and Jobs Act ” below for discussion of the tax legislation enactment. (b) See “ Income Tax Audits - 2010-2011 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana. (c) See “ Income Tax Audits - 2008-2009 IRS Audit ” below for discussion of the most significant items for Entergy Louisiana and System Energy. |
Significant Components Of Accumulated Deferred Income Taxes And Accrued Taxes | Significant components of accumulated deferred income taxes and taxes accrued for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,289,827 ) ($1,583,100 ) ($571,682 ) ($85,515 ) ($526,596 ) ($359,931 ) Nuclear decommissioning trusts/receivables (181,911 ) (164,395 ) — — — (119,184 ) Pension, net funding (99,971 ) (102,138 ) (26,413 ) (13,040 ) (20,700 ) (21,871 ) Deferred fuel (16,530 ) (1,329 ) (19,005 ) (1,894 ) — (272 ) Other (23,079 ) (98,307 ) (11,306 ) (23,610 ) (8,236 ) (5,955 ) Total (1,611,318 ) (1,949,269 ) (628,406 ) (124,059 ) (555,532 ) (507,213 ) Deferred tax assets: Regulatory liabilities 227,489 368,156 102,676 23,526 25,428 91,271 Nuclear decommissioning liabilities 132,464 58,891 — — — 63,180 Pension and other post-employment benefits (16,252 ) 98,596 (4,865 ) (9,618 ) (12,044 ) (516 ) Sale and leaseback — 19,915 — — — 102,482 Accumulated deferred investment tax credit 8,913 35,323 2,212 488 2,516 9,832 Provision for allowances and contingencies 4,367 80,516 11,898 24,234 4,383 — Power purchase agreements — (6,924 ) 1,129 — — — Unbilled/deferred revenues 6,195 (18,263 ) 4,847 1,811 7,736 — Compensation 2,566 4,387 1,466 723 1,224 332 Net operating loss carryforwards 16,172 44 10,255 — 1,690 — Capital losses and miscellaneous tax credits 2,678 — 5,736 — — — Other 473 21,922 1,307 388 1,133 — Total 385,065 662,563 136,661 41,552 32,066 266,581 Non-current accrued taxes (including unrecognized tax benefits) 35,584 (763,665 ) 2,939 (200,795 ) (21,176 ) (535,788 ) Accumulated deferred income taxes and taxes accrued ($1,190,669 ) ($2,050,371 ) ($488,806 ) ($283,302 ) ($544,642 ) ($776,420 ) 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Deferred tax liabilities: Plant basis differences - net ($1,857,554 ) ($2,357,599 ) ($820,971 ) ($177,242 ) ($835,671 ) ($651,394 ) Regulatory assets (109,241 ) (219,750 ) (25,309 ) (36,301 ) (153,914 ) (39,879 ) Nuclear decommissioning trusts (144,250 ) (119,544 ) — — — (83,891 ) Pension, net funding (123,889 ) (122,465 ) (34,284 ) (16,307 ) (28,371 ) (29,357 ) Deferred fuel (14,774 ) (1,778 ) (12,770 ) (5,229 ) (2,808 ) (1,137 ) Power purchase agreements — — — — — — Other (47,785 ) (22,136 ) (12,474 ) (18,536 ) (8,812 ) (2,051 ) Total (2,297,493 ) (2,843,272 ) (905,808 ) (253,615 ) (1,029,576 ) (807,709 ) Deferred tax assets: Regulatory liabilities 5,768 175,973 18,833 25,240 15,814 13,644 Nuclear decommissioning liabilities 124,206 55,408 — — — 53,113 Pension and other post-employment benefits (24,467 ) 145,401 (8,042 ) (12,070 ) (19,096 ) (1,182 ) Sale and leaseback — 33,383 — — — 102,483 Accumulated deferred investment tax credit 13,848 54,509 3,315 239 4,527 15,936 Provision for allowances and contingencies (1,497 ) 124,309 21,817 36,466 5,904 — Power purchase agreements (3,094 ) 29,827 1,905 — 140 — Unbilled/deferred revenues 6,799 (35,006 ) 5,085 3,751 11,902 — Compensation 2,787 5,309 1,492 685 1,587 360 Net operating loss carryforwards 69,524 17,125 — — — — Capital losses and miscellaneous tax credits 2,074 — 4,487 — — — Other 174 17,110 1,152 496 2,955 — Total 196,122 623,348 50,044 54,807 23,733 184,354 Non-current accrued taxes (including unrecognized tax benefits) (85,252 ) (471,194 ) (5,567 ) (136,145 ) (21,804 ) (489,510 ) Accumulated deferred income taxes and taxes accrued ($2,186,623 ) ($2,691,118 ) ($861,331 ) ($334,953 ) ($1,027,647 ) ($1,112,865 ) |
Entergy's Estimated Tax Attributes, Carryovers And Their Expiration Dates | The Registrant Subsidiaries’ estimated tax attributes carryovers and their expiration dates as of December 31, 2017 are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Federal net operating losses $77 million $4.3 billion $86.6 million $1.1 billion — — Year(s) of expiration 2030-2037 2035-2037 2030-2037 2037 N/A N/A State net operating losses — $5 billion — $1.2 billion — — Year(s) of expiration N/A 2029-2037 N/A 2037 N/A N/A Misc. federal credits $2.7 million $1.7 million $2.7 million $2.1 million $0.6 million $2.5 million Year(s) of expiration 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 2029-2036 State credits — — $4.9 million — $3.2 million $10 million Year(s) of expiration N/A N/A 2018-2021 N/A 2026 2018-2021 |
Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the Registrant Subsidiaries’ beginning and ending amount of unrecognized tax benefits for 2017 , 2016 , and 2015 is as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2017 $2,503 $2,440,339 $12,206 $166,230 $15,946 $472,372 Additions based on tax positions related to the current year (a) 8,974 32,843 2,105 509,183 1,747 909 Additions for tax positions of prior years 3,682 235,331 1,267 13,364 3,115 1,432 Reductions for tax positions of prior years (132,875 ) (190,056 ) (456 ) (9,233 ) (4,409 ) (29,202 ) Gross balance at December 31, 2017 (117,716 ) 2,518,457 15,122 679,544 16,399 445,511 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,591,907 ) (15,122 ) (441,374 ) (638 ) (12,536 ) Unrecognized tax benefits net of unused tax attributes and payments ($117,716 ) $926,550 $— $238,170 $15,761 $432,975 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2016 $25,445 $1,690,661 $19,482 $53,897 $13,462 $478,318 Additions based on tax positions related to the current year (a) 16,868 931,720 2,662 33,912 2,002 5,318 Additions for tax positions of prior years 2,463 157,586 336 129,784 2,888 601 Reductions for tax positions of prior years (41,957 ) (144,068 ) (10,219 ) (29,821 ) (1,849 ) (10,266 ) Settlements (316 ) (195,560 ) (55 ) (21,542 ) (557 ) (1,599 ) Gross balance at December 31, 2016 2,503 2,440,339 12,206 166,230 15,946 472,372 Offsets to gross unrecognized tax benefits: Loss carryovers — (1,783,093 ) (2,373 ) (27,320 ) (376 ) (90,028 ) Unrecognized tax benefits net of unused tax attributes and payments $2,503 $657,246 $9,833 $138,910 $15,570 $382,344 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Gross balance at January 1, 2015 $362,912 $1,205,929 $20,144 $53,763 $17,264 $258,242 Additions based on tax positions related to the current year (b) 2,196 1,367,058 566 472 657 472,304 Additions for tax positions of prior years 1,057 7,992 8,140 48 2,914 913 Reductions for tax positions of prior years (340,720 ) (859,430 ) — (386 ) (3,981 ) (253,141 ) Settlements — (30,888 ) (9,368 ) — (3,392 ) — Gross balance at December 31, 2015 25,445 1,690,661 19,482 53,897 13,462 478,318 Offsets to gross unrecognized tax benefits: Loss carryovers (3,613 ) (893,764 ) (1,016 ) (506 ) (276 ) (133,611 ) Unrecognized tax benefits net of unused tax attributes and payments $21,832 $796,897 $18,466 $53,391 $13,186 $344,707 (a) The primary additions for Entergy Louisiana in 2016 and for Entergy New Orleans in 2017 are related to the mark-to-market treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. (b) The primary addition for Entergy Louisiana and System Energy is related to the nuclear decommissioning costs treatment discussed in “ Other Tax Matters - Tax Accounting Methods ” below. |
Summary Of Unrecognized Tax Benefits That Would Affect Effective Income Tax Rate | The Registrant Subsidiaries’ balances of unrecognized tax benefits included amounts which, if recognized, would have reduced income tax expense as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $2.6 $3.6 $4.5 Entergy Louisiana $575.8 $473.3 $692.7 Entergy Mississippi $— $— $8.1 Entergy New Orleans $31.7 $33.6 $50.7 Entergy Texas $4.4 $7.0 $5.2 System Energy $— $— $0.7 |
Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits | Accrued balances for the possible payment of interest are as follows: December 31, 2017 2016 2015 (In Millions) Entergy Arkansas $1.6 $1.4 $1.3 Entergy Louisiana $14.1 $8.4 $9.3 Entergy Mississippi $1.0 $0.8 $0.4 Entergy New Orleans $2.1 $1.5 $1.8 Entergy Texas $0.4 $1.2 $1.2 System Energy $8.5 $3.7 $0.7 |
Revolving Credit Facilities, 34
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of The Borrowings Outstanding And Capacity Available Under The Facility | Following is a summary of the borrowings outstanding and capacity available under the facility as of December 31, 2017 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $210 $6 $3,284 |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Entergy Arkansas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Entergy Louisiana [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Entergy Mississippi [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Entergy New Orleans [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Entergy Texas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of December 31, 2017 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of December 31, 2017 Letters of Credit Outstanding as of December 31, 2017 Entergy Arkansas April 2018 $20 million (b) 2.82% — — Entergy Arkansas August 2022 $150 million (c) 2.82% — — Entergy Louisiana August 2022 $350 million (c) 2.82% — $9.1 million Entergy Mississippi May 2018 $10 million (d) 3.07% — — Entergy Mississippi May 2018 $20 million (d) 3.07% — — Entergy Mississippi May 2018 $35 million (d) 3.07% — — Entergy Mississippi May 2018 $37.5 million (d) 3.07% — — Entergy New Orleans November 2018 $25 million (c) 3.04% — $0.8 million Entergy Texas August 2022 $150 million (c) 3.07% — $25.6 million (a) The interest rate is the estimated interest rate as of December 31, 2017 that would have been applied to outstanding borrowings under the facility. (b) Borrowings under this Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility permits the issuance of letters of credit against a portion of the borrowing capacity of the facility as follows: $5 million for Entergy Arkansas; $15 million for Entergy Louisiana; $10 million for Entergy New Orleans; and $30 million for Entergy Texas. (d) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations | In addition, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each entered into one or more uncommitted standby letter of credit facilities as a means to post collateral to support its obligations to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of December 31, 2017 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of December 31, 2017 (a) Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $29.7 million Entergy Mississippi $40 million 0.70% $15.3 million Entergy New Orleans $15 million 1.00% $1.4 million Entergy Texas $50 million 0.70% $22.8 million (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission right exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. See Note 15 to the financial statements for discussion of financial transmission rights. |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
System Energy [Member] | |
Short-Term Borrowings And The Outstanding Short-Term Borrowings | The following are the FERC-authorized limits for short-term borrowings and the outstanding short-term borrowings as of December 31, 2017 (aggregating both internal and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $166 Entergy Louisiana $450 — Entergy Mississippi $175 — Entergy New Orleans $150 — Entergy Texas $200 — System Energy $200 — |
Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel | To finance the acquisition and ownership of nuclear fuel, the nuclear fuel company VIEs have credit facilities and three of the four VIEs also issue commercial paper, details of which follow as of December 31, 2017 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of December 31, 2017 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.87% $74.9 (b) Entergy Louisiana River Bend VIE May 2019 $105 2.38% $65.7 Entergy Louisiana Waterford VIE May 2019 $85 2.64% $79.9 (c) System Energy VIE May 2019 $120 2.52% $67.8 (d) (a) Includes letter of credit fees and bank fronting fees on commercial paper issuances by the nuclear fuel company variable interest entities for Entergy Arkansas, Entergy Louisiana, and System Energy. The nuclear fuel company variable interest entity for Entergy Louisiana River Bend does not issue commercial paper, but borrows directly on its bank credit facility. (b) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Arkansas VIE as of December 31, 2017 was $50 million . (c) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for Entergy Louisiana Waterford VIE as of December 31, 2017 was $43.5 million . (d) Includes borrowings on the credit facility and commercial paper. Commercial paper is classified as a current liability and the amount outstanding for System Energy VIE as of December 31, 2017 was $17.8 million . |
Notes Payable By Variable Interest Entities | The nuclear fuel company variable interest entities had notes payable that are included in debt on the respective balance sheets as of December 31, 2017 as follows: Company Description Amount Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Arkansas VIE 3.17% Series M due December 2023 $40 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million Entergy Louisiana Waterford VIE 3.22% Series I due December 2023 $20 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Long - Term Debt (Tables)
Long - Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule Of Long-Term Debt | Long-term debt for Entergy Corporation and subsidiaries as of December 31, 2017 and 2016 consisted of: Type of Debt and Maturity Weighted Average Interest Rate December 31, 2017 Interest Rate Ranges at December 31, Outstanding at December 31, 2017 2016 2017 2016 (In Thousands) Mortgage Bonds 2018-2022 4.39% 2.55%-7.125% 2.55%-7.125% $2,550,000 $2,550,000 2023-2027 3.72% 2.40%-5.59% 2.40%-5.59% 4,735,000 3,765,000 2028-2031 3.06% 2.85%-3.25% 2.85%-3.25% 1,125,000 1,125,000 2044-2066 5.00% 4.70%-5.625% 4.70%-5.625% 2,960,000 2,960,000 Governmental Bonds (a) 2017-2022 5.20% 2.375%-5.875% 1.55%-5.875% 179,000 233,700 2028-2030 3.45% 3.375%-3.50% 3.375%-3.50% 198,680 198,680 Securitization Bonds 2018-2027 3.79% 2.04%-5.93% 2.04%-5.93% 551,499 669,310 Variable Interest Entities Notes Payable (Note 4) 2017-2023 3.48% 3.17%-3.92% 2.62%-4.02% 345,000 555,000 Entergy Corporation Notes due September 2020 n/a 5.125% 5.125% 450,000 450,000 due July 2022 n/a 4.00% 4.00% 650,000 650,000 due September 2026 n/a 2.95% 2.95% 750,000 750,000 5 Year Credit Facility (Note 4) n/a 2.55% 2.23% 210,000 700,000 Vermont Yankee Credit Facility (Note 4) n/a 2.64% 2.17% 103,500 44,500 Entergy Arkansas VIE Credit Facility (Note 4) n/a 2.87% — 24,900 — Entergy Louisiana River Bend VIE Credit Facility (Note 4) n/a 2.38% — 65,650 — Entergy Louisiana Waterford VIE Credit Facility (Note 4) n/a 2.64% — 36,360 — System Energy VIE Credit Facility (Note 4) n/a 2.52% — 50,000 — Long-term DOE Obligation (b) — — — 183,435 181,853 Waterford 3 Lease Obligation (c) n/a — 8.09% — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (c) n/a — (d) — 42,703 Grand Gulf Lease Obligation (c) n/a 5.13% 5.13% 34,356 34,359 Unamortized Premium and Discount - Net (13,911 ) (19,397 ) Unamortized Debt Issuance Costs (126,033 ) (128,849 ) Other 12,830 13,204 Total Long-Term Debt 15,075,266 14,832,555 Less Amount Due Within One Year 760,007 364,900 Long-Term Debt Excluding Amount Due Within One Year $14,315,259 $14,467,655 Fair Value of Long-Term Debt (e) $15,367,453 $14,815,535 (a) Consists of pollution control revenue bonds and environmental revenue bonds, some of which are secured by collateral mortgage bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) See Note 10 to the financial statements for further discussion of the Waterford 3 lease obligation and Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets and for further discussion of the Grand Gulf lease obligation. (d) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . (e) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Amount (In Thousands) 2018 $760,000 2019 $857,679 2020 $898,500 2021 $960,764 2022 $1,304,431 |
Entergy Arkansas [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . 2017 2016 (In Thousands) Entergy Arkansas Mortgage Bonds: 3.75% Series due February 2021 $350,000 $350,000 3.05% Series due June 2023 250,000 250,000 3.7% Series due June 2024 375,000 375,000 3.5% Series due April 2026 600,000 380,000 4.95% Series due December 2044 250,000 250,000 4.90% Series due December 2052 200,000 200,000 4.75% Series due June 2063 125,000 125,000 4.875% Series due September 2066 410,000 410,000 Total mortgage bonds 2,560,000 2,340,000 Governmental Bonds (a): 1.55% Series due 2017, Jefferson County (d) — 54,700 2.375% Series due 2021, Independence County (d) 45,000 45,000 Total governmental bonds 45,000 99,700 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 2.62% Series K due December 2017 — 60,000 3.65% Series L due July 2021 90,000 90,000 3.17% Series M due December 2023 40,000 40,000 Credit Facility due May 2019, weighted avg rate 2.87% 24,900 — Total variable interest entity notes payable and credit facility 154,900 190,000 Securitization Bonds: 2.30% Series Senior Secured due August 2021 35,764 49,548 Total securitization bonds 35,764 49,548 Other: Long-term DOE Obligation (b) 183,435 181,853 Unamortized Premium and Discount – Net 5,307 984 Unamortized Debt Issuance Costs (34,049 ) (34,357 ) Other 2,042 2,057 Total Long-Term Debt 2,952,399 2,829,785 Less Amount Due Within One Year — 114,700 Long-Term Debt Excluding Amount Due Within One Year $2,952,399 $2,715,085 Fair Value of Long-Term Debt (c) $2,865,844 $2,623,910 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
Entergy Louisiana [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . 2017 2016 (In Thousands) Entergy Louisiana Mortgage Bonds: 6.0% Series due May 2018 $375,000 $375,000 6.50% Series due September 2018 300,000 300,000 3.95% Series due October 2020 250,000 250,000 4.8% Series due May 2021 200,000 200,000 3.3% Series due December 2022 200,000 200,000 4.05% Series due September 2023 325,000 325,000 5.59% Series due October 2024 300,000 300,000 5.40% Series due November 2024 400,000 400,000 3.78% Series due April 2025 110,000 110,000 3.78% Series due April 2025 190,000 190,000 4.44% Series due January 2026 250,000 250,000 2.40% Series due October 2026 400,000 400,000 3.12% Series due September 2027 450,000 — 3.25% Series due April 2028 425,000 425,000 3.05% Series due June 2031 325,000 325,000 5.0% Series due July 2044 170,000 170,000 4.95% Series due January 2045 450,000 450,000 5.25% Series due July 2052 200,000 200,000 4.70% Series due June 2063 100,000 100,000 4.875% Series due September 2066 270,000 270,000 Total mortgage bonds 5,690,000 5,240,000 Governmental Bonds (a): 3.375 % Series due 2028, Louisiana Public Facilities Authority (d) 83,680 83,680 3.50% Series due 2030, Louisiana Public Facilities Authority (d) 115,000 115,000 Total governmental bonds 198,680 198,680 Variable Interest Entity Notes Payable and Credit Facilities (Note 4): 3.25% Series G due July 2017 — 25,000 3.25% Series Q due July 2017 — 75,000 3.38% Series R due August 2020 70,000 70,000 3.92% Series H due February 2021 40,000 40,000 3.22% Series I due December 2023 20,000 20,000 Credit Facility due May 2019, weighted avg rate 2.38% 65,650 — Credit Facility due May 2019, weighted avg rate 2.64% 36,360 — Total variable interest entity notes payable and credit facilities 232,010 230,000 Securitization Bonds: 2.04% Series Senior Secured due September 2023 79,228 100,972 Total securitization bonds 79,228 100,972 Other: Waterford 3 Lease Obligation (Note 10) (e) — 57,492 Waterford Series Collateral Trust Mortgage Notes due 2017 (Note 10) (f) — 42,703 Unamortized Premium and Discount - Net (13,877 ) (14,917 ) Unamortized Debt Issuance Costs (48,540 ) (48,972 ) Other 6,570 6,833 Total Long-Term Debt 6,144,071 5,812,791 Less Amount Due Within One Year 675,002 200,198 Long-Term Debt Excluding Amount Due Within One Year $5,469,069 $5,612,593 Fair Value of Long-Term Debt (c) $6,389,774 $5,929,488 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
Entergy Mississippi [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . 2017 2016 (In Thousands) Entergy Mississippi Mortgage Bonds: 6.64% Series due July 2019 $150,000 $150,000 3.1% Series due July 2023 250,000 250,000 3.75% Series due July 2024 100,000 100,000 3.25% Series due December 2027 150,000 — 2.85% Series due June 2028 375,000 375,000 4.90% Series due October 2066 260,000 260,000 Total mortgage bonds 1,285,000 1,135,000 Other: Unamortized Premium and Discount – Net (1,155 ) (766 ) Unamortized Debt Issuance Costs (13,723 ) (13,318 ) Total Long-Term Debt 1,270,122 1,120,916 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,270,122 $1,120,916 Fair Value of Long-Term Debt (c) $1,285,741 $1,086,203 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
Entergy New Orleans [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . 2017 2016 (In Thousands) Entergy New Orleans Mortgage Bonds: 5.10% Series due December 2020 $25,000 $25,000 3.9% Series due July 2023 100,000 100,000 4.0% Series due June 2026 85,000 85,000 5.0% Series due December 2052 30,000 30,000 5.50% Series due April 2066 110,000 110,000 Total mortgage bonds 350,000 350,000 Securitization Bonds: 2.67% Series Senior Secured due June 2027 76,707 87,307 Total securitization bonds 76,707 87,307 Other: Payable to Entergy Louisiana due November 2035 18,423 20,527 Unamortized Premium and Discount – Net (206 ) (245 ) Unamortized Debt Issuance Costs (8,054 ) (8,595 ) Total Long-Term Debt 436,870 448,994 Less Amount Due Within One Year 2,077 2,104 Long-Term Debt Excluding Amount Due Within One Year $434,793 $446,890 Fair Value of Long-Term Debt (c) $455,968 $455,459 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
Entergy Texas [Member] | |
Schedule Of Long-Term Debt | (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . 2017 2016 (In Thousands) Entergy Texas Mortgage Bonds: 7.125% Series due February 2019 $500,000 $500,000 2.55% Series due June 2021 125,000 125,000 4.1% Series due September 2021 75,000 75,000 3.45% Series due December 2027 150,000 — 5.15% Series due June 2045 250,000 250,000 5.625% Series due June 2064 135,000 135,000 Total mortgage bonds 1,235,000 1,085,000 Securitization Bonds: 5.79% Series Senior Secured, Series A due October 2018 — 23,584 3.65% Series Senior Secured, Series A due August 2019 30,769 74,899 5.93% Series Senior Secured, Series A due June 2022 110,431 114,400 4.38% Series Senior Secured, Series A due November 2023 218,600 218,600 Total securitization bonds 359,800 431,483 Other: Unamortized Premium and Discount - Net (1,498 ) (1,579 ) Unamortized Debt Issuance Costs (10,366 ) (10,809 ) Other 4,214 4,312 Total Long-Term Debt 1,587,150 1,508,407 Less Amount Due Within One Year — — Long-Term Debt Excluding Amount Due Within One Year $1,587,150 $1,508,407 Fair Value of Long-Term Debt (c) $1,661,902 $1,600,156 |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
System Energy [Member] | |
Schedule Of Long-Term Debt | 2017 2016 (In Thousands) System Energy Mortgage Bonds: 4.1% Series due April 2023 $250,000 $250,000 Total mortgage bonds 250,000 250,000 Governmental Bonds (a): 5.875% Series due 2022, Mississippi Business Finance Corp. 134,000 134,000 Total governmental bonds 134,000 134,000 Variable Interest Entity Notes Payable and Credit Facility (Note 4): 4.02% Series H due February 2017 — 50,000 3.78% Series I due October 2018 85,000 85,000 Credit Facility due May 2019, weighted avg rate 2.52% 50,000 — Total variable interest entity notes payable and credit facility 135,000 135,000 Other: Grand Gulf Lease Obligation 5.13% (Note 10) 34,356 34,359 Unamortized Premium and Discount – Net (415 ) (503 ) Unamortized Debt Issuance Costs (1,455 ) (1,727 ) Other 2 3 Total Long-Term Debt 551,488 551,132 Less Amount Due Within One Year 85,004 50,003 Long-Term Debt Excluding Amount Due Within One Year $466,484 $501,129 Fair Value of Long-Term Debt (c) $529,119 $529,520 (a) Consists of pollution control revenue bonds and environmental revenue bonds. (b) Pursuant to the Nuclear Waste Policy Act of 1982, Entergy’s nuclear owner/licensee subsidiaries have contracts with the DOE for spent nuclear fuel disposal service. The contracts include a one-time fee for generation prior to April 7, 1983. Entergy Arkansas is the only Entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee, plus accrued interest, in long-term debt. (c) The fair value excludes lease obligations of $34 million at System Energy and long-term DOE obligations of $183 million at Entergy Arkansas, and includes debt due within one year. Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 15 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. (d) The bonds are secured by a series of collateral mortgage bonds. (e) The interest rate as of December 31, 2016 was 8.09% . See Note 10 to the financial statements for further discussion of Entergy Louisiana’s acquisition of the equity participant’s beneficial interest in the Waterford 3 leased assets in March 2016. (f) This note did not have a stated interest rate, but had an implicit interest rate of 7.458% . |
Schedule Of Annual Long-Term Debt Maturities | The annual long-term debt maturities (excluding lease obligations and long-term DOE obligations) for debt outstanding as of December 31, 2017 , for the next five years are as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2018 $— $675,000 $— $2,077 $— $85,000 2019 $24,900 $102,010 $150,000 $1,979 $530,769 $50,000 2020 $— $320,000 $— $26,838 $— $— 2021 $520,764 $240,000 $— $1,618 $200,000 $— 2022 $— $200,000 $— $1,326 $110,431 $134,000 |
Hurricane Rita [Member] | Entergy Texas [Member] | |
Schedule Of Senior Secured Transition Bonds | In June 2007, Entergy Gulf States Reconstruction Funding I, LLC, a company that is now wholly-owned and consolidated by Entergy Texas, issued $329.5 million of senior secured transition bonds (securitization bonds) as follows: Amount (In Thousands) Senior Secured Transition Bonds, Series A: Tranche A-1 (5.51%) due October 2013 $93,500 Tranche A-2 (5.79%) due October 2018 121,600 Tranche A-3 (5.93%) due June 2022 (a) 114,400 Total senior secured transition bonds $329,500 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-3 was $110.4 million . |
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |
Schedule Of Senior Secured Transition Bonds | In November 2009, Entergy Texas Restoration Funding, LLC (Entergy Texas Restoration Funding), a company wholly-owned and consolidated by Entergy Texas, issued $545.9 million of senior secured transition bonds (securitization bonds), as follows: Amount (In Thousands) Senior Secured Transition Bonds: Tranche A-1 (2.12%) due February 2016 $182,500 Tranche A-2 (3.65%) due August 2019 (a) 144,800 Tranche A-3 (4.38%) due November 2023 218,600 Total senior secured transition bonds $545,900 (a) As of December 31, 2017 the remaining amount outstanding on Tranche A-2 was $30.8 million . |
Preferred Equity (Tables)
Preferred Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | All series of the Utility preferred stock are redeemable at the option of the related company. Shares/Units Authorized Shares/Units Outstanding 2017 2016 2017 2016 2017 2016 Entergy Corporation (Dollars in Thousands) Utility: Preferred Stock or Preferred Membership Interests without sinking fund: Entergy Arkansas, 4.32%-4.72% Series 313,500 313,500 313,500 313,500 $31,350 $31,350 Entergy Utility Holding Company, LLC, 7.5% Series (a) 110,000 110,000 110,000 110,000 107,425 107,425 Entergy Utility Holding Company, LLC, 6.25% Series (b) 15,000 — 15,000 — 14,398 — Entergy Mississippi, 4.36%-4.92% Series 203,807 203,807 203,807 203,807 20,381 20,381 Entergy New Orleans, 4.36%-5.56% Series — 197,798 — 197,798 — 19,780 Total Utility Preferred Stock or Preferred Membership Interests without sinking fund 642,307 825,105 642,307 825,105 173,554 178,936 Entergy Wholesale Commodities: Preferred Stock without sinking fund: Entergy Finance Holding, Inc. 8.75% (c) 250,000 250,000 250,000 250,000 24,249 24,249 Total Subsidiaries’ Preferred Stock without sinking fund 892,307 1,075,105 892,307 1,075,105 $197,803 $203,185 (a) Dollar amount outstanding is net of $2,575 thousand of preferred stock issuance costs. (b) Dollar amount outstanding is net of $602 thousand of preferred stock issuance costs. (c) Dollar amount outstanding is net of $751 thousand of preferred stock issuance costs. |
Entergy Arkansas [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Arkansas Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.32% Series 70,000 70,000 $7,000 $7,000 $103.65 4.72% Series 93,500 93,500 9,350 9,350 $107.00 4.56% Series 75,000 75,000 7,500 7,500 $102.83 4.56% 1965 Series 75,000 75,000 7,500 7,500 $102.50 Total without sinking fund 313,500 313,500 $31,350 $31,350 |
Entergy Mississippi [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per Share as of December 31, 2017 2016 2017 2016 2017 Entergy Mississippi Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series 59,920 59,920 $5,992 $5,992 $103.86 4.56% Series 43,887 43,887 4,389 4,389 $107.00 4.92% Series 100,000 100,000 10,000 10,000 $102.88 Total without sinking fund 203,807 203,807 $20,381 $20,381 |
Entergy New Orleans [Member] | |
Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock | Shares Authorized and Outstanding Call Price per 2017 2016 2017 2016 2017 Entergy New Orleans Preferred Stock (Dollars in Thousands) Without sinking fund: Cumulative, $100 par value: 4.36% Series (a) — 60,000 $— $6,000 $— 4.75% Series (a) — 77,798 — 7,780 $— 5.56% Series (a) — 60,000 — 6,000 $— Total without sinking fund — 197,798 $— $19,780 (a) In November 2017, Entergy New Orleans redeemed its $6 million of 4.36% Series, $7.8 million of 4.75% Series, and $6 million of 5.56% Series of preferred membership interests as part of a multi-step internal restructuring. |
Common Equity (Tables)
Common Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Common Stock and Treasury Stock Shares Activity Roll Forward | Common stock and treasury stock shares activity for Entergy for 2017 , 2016 , and 2015 is as follows: 2017 2016 2015 Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Common Shares Issued Treasury Shares Beginning Balance, January 1 254,752,788 75,623,363 254,752,788 76,363,763 254,752,788 75,512,079 Repurchases — — — — — 1,468,984 Issuances: Employee Stock-Based Compensation Plans — (1,377,363 ) — (729,073 ) — (610,409 ) Directors’ Plan — (10,865 ) — (11,327 ) — (6,891 ) Ending Balance, December 31 254,752,788 74,235,135 254,752,788 75,623,363 254,752,788 76,363,763 |
Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2017 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2017 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) Other comprehensive income (loss) before reclassifications 28,602 (104,029 ) 171,099 (748 ) 94,924 Amounts reclassified from accumulated other comprehensive income (loss) (70,072 ) 42,376 (55,788 ) — (83,484 ) Net other comprehensive income (loss) for the period (41,470 ) (61,653 ) 115,311 (748 ) 11,440 Ending balance, December 31, 2017 ($37,477 ) ($531,099 ) $545,045 $— ($23,531 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the year ended December 31, 2016 by component: Cash flow Pension Foreign Total (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 87,740 (26,997 ) 68,465 (1,280 ) 127,928 Amounts reclassified from (189,717 ) 24,155 (6,288 ) — (171,850 ) Net other comprehensive income (loss) for the period (101,977 ) (2,842 ) 62,177 (1,280 ) (43,922 ) Ending balance, December 31, 2016 $3,993 ($469,446 ) $429,734 $748 ($34,971 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $108,606 $293,268 Competitive business operating revenues Interest rate swaps (803 ) (1,395 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 107,803 291,873 (37,731 ) (102,156 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $70,072 $189,717 Pension and other postretirement liabilities Amortization of prior-service costs $26,251 $29,414 (a) Acceleration of prior-service cost due to curtailment — (1,045 ) (a) Amortization of loss (86,002 ) (60,693 ) (a) Settlement loss (7,544 ) (2,007 ) (a) Total amortization (67,295 ) (34,331 ) 24,919 10,176 Income taxes Total amortization (net of tax) ($42,376 ) ($24,155 ) Net unrealized investment gain (loss) Realized gain (loss) $109,388 $12,329 Interest and investment income (53,600 ) (6,041 ) Income taxes Total realized investment gain (loss) (net of tax) $55,788 $6,288 Total reclassifications for the period (net of tax) $83,484 $171,850 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Entergy Louisiana [Member] | |
Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2017: Pension and Other Postretirement Liabilities (In Thousands) Beginning balance, January 1, 2017 ($48,442 ) Other comprehensive income (loss) before reclassifications 3,462 Amounts reclassified from accumulated other comprehensive income (loss) (1,420 ) Net other comprehensive income (loss) for the period 2,042 Ending balance, December 31, 2017 ($46,400 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the year ended December 31, 2016: Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Other comprehensive income (loss) before reclassifications 8,926 Amounts reclassified from accumulated other comprehensive income (loss) (956 ) Net other comprehensive income (loss) for the period 7,970 Ending balance, December 31, 2016 ($48,442 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the years ended December 31, 2017 and 2016 are as follows: Amounts reclassified from AOCI Income Statement Location 2017 2016 (In Thousands) Pension and other postretirement liabilities Amortization of prior-service costs $7,734 $7,786 (a) Amortization of loss (5,327 ) (6,281 ) (a) Total amortization 2,407 1,505 (987 ) (549 ) Income taxes Total amortization (net of tax) 1,420 956 Total reclassifications for the period (net of tax) $1,420 $956 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 11 to the financial statements for additional details. |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Entergy Arkansas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Entergy Louisiana [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Entergy Mississippi [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Entergy New Orleans [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Entergy Texas [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
System Energy [Member] | |
Maximum Amounts Of Possible Assessments Per Occurrence | Effective April 1, 2017, the maximum amounts of such possible assessments per occurrence were as follows: Assessments (In Millions) Utility: Entergy Arkansas $40.3 Entergy Louisiana $49.4 Entergy Mississippi $0.11 Entergy New Orleans $0.11 Entergy Texas N/A System Energy $22.3 Entergy Wholesale Commodities $— |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— |
Entergy Arkansas [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— |
Entergy Louisiana [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— |
Entergy Mississippi [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Entergy New Orleans [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Entergy Texas [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
System Energy [Member] | |
Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates | 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, 2017 2016 (In Millions) Entergy Arkansas $176.9 $128.5 Entergy Louisiana ($32.4) ($53.9) Entergy Mississippi $91.6 $82.0 Entergy New Orleans $44.8 $40.1 Entergy Texas $55.2 $33.5 System Energy $67.9 $69.7 |
Cumulative decommissioning and retirement cost liabilities and expenses | The cumulative decommissioning and retirement cost liabilities and expenses recorded in 2017 and 2016 by Entergy were as follows: Liabilities as of December 31, 2016 Accretion Change in Cash Flow Estimate Spending Dispositions Liabilities as of December 31, 2017 (In Millions) Utility: Entergy Arkansas $924.4 $56.8 $— $— $— $981.2 Entergy Louisiana 1,082.7 57.8 — — — 1,140.5 Entergy Mississippi 8.7 0.5 — — — 9.2 Entergy New Orleans 2.9 0.2 — — — 3.1 Entergy Texas 6.5 0.3 — — — 6.8 System Energy 854.2 43.4 (35.9 ) — — 861.7 Total 2,879.4 159.0 (35.9 ) — — 3,002.5 Entergy Wholesale Commodities: Big Rock Point 37.9 3.1 — (2.1 ) — 38.9 FitzPatrick 714.3 (a) 13.9 — (0.9 ) (727.3 ) (b) — Indian Point 1 207.6 17.7 — (7.7 ) — 217.6 Indian Point 2 653.1 55.8 — (0.2 ) — 708.7 Indian Point 3 641.1 53.5 — (0.1 ) — 694.5 Palisades 500.3 41.3 (68.7 ) (2.5 ) — 470.4 Pilgrim 602.3 52.8 — (3.7 ) — 651.4 Vermont Yankee 470.5 34.4 — (103.4 ) — 401.5 Other (c) 0.3 — — — — 0.3 Total 3,827.4 272.5 (68.7 ) (120.6 ) (727.3 ) 3,183.3 Entergy Total $6,706.8 $431.5 ($104.6 ) ($120.6 ) ($727.3 ) $6,185.8 Liabilities as of December 31, 2015 Liabilities Incurred Accretion Change in Cash Flow Estimate Spending Liabilities as of December 31, 2016 (In Millions) Utility: Entergy Arkansas $872.3 $— $53.6 $— ($1.5 ) $924.4 Entergy Louisiana 1,027.9 — 54.8 — — 1,082.7 Entergy Mississippi 8.3 — 0.4 — — 8.7 Entergy New Orleans 2.7 — 0.2 — — 2.9 Entergy Texas 6.1 — 0.4 — — 6.5 System Energy 803.4 — 50.8 — — 854.2 Total 2,720.7 — 160.2 — (1.5 ) 2,879.4 Entergy Wholesale Commodities: Big Rock Point 28.0 — 2.2 10.1 (2.4 ) 37.9 FitzPatrick — (d) 696.2 18.1 — — 714.3 (a) Indian Point 1 197.9 — 17.1 (0.3 ) (7.1 ) 207.6 Indian Point 2 390.1 — 33.0 230.0 — 653.1 Indian Point 3 — (d) 466.3 12.1 162.7 — 641.1 Palisades 342.0 — 29.5 128.8 — 500.3 Pilgrim 551.2 — 48.4 3.2 (0.5 ) 602.3 Vermont Yankee 560.0 — 39.3 — (128.8 ) 470.5 Other (c) 0.3 — — — — 0.3 Total 2,069.5 1,162.5 199.7 534.5 (138.8 ) 3,827.4 Entergy Total $4,790.2 $1,162.5 $359.9 $534.5 ($140.3 ) $6,706.8 (a) The FitzPatrick asset retirement obligation was classified as held for sale within other non-current liabilities on the consolidated balance sheet as of December 31, 2016. See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (b) See Note 14 to the financial statements for discussion of the sale of the FitzPatrick plant to Exelon in March 2017. (c) See “ Coal Combustion Residuals ” below for additional discussion regarding the asset retirement obligations related to coal combustion residuals management. (d) See “ Entergy Wholesale Commodities ” in “ Nuclear Plant Decommissioning ” below for additional discussion regarding the decommissioning agreements with NYPA and the associated asset retirement obligations. |
Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets | Entergy maintains decommissioning trust funds that are committed to meeting its obligations for the costs of decommissioning the nuclear power plants. The fair values of the decommissioning trust funds and the related asset retirement obligation regulatory assets (liabilities) of Entergy as of December 31, 2017 and 2016 are as follows: 2017 2016 Decommissioning Trust Fair Values Regulatory Asset (Liability) Decommissioning Regulatory (In Millions) (In Millions) Utility: ANO 1 and ANO 2 $944.9 $337.9 $834.7 $316.3 River Bend $818.2 ($30.6) $712.8 ($28.4 ) Waterford 3 $493.9 $188.9 $427.9 $172.8 Grand Gulf $905.7 $169.1 $780.5 $142.5 Entergy Wholesale Commodities $4,049.3 $— $2,968.0 $— |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Components Of Minimum Lease Payments | As of December 31, 2017 , Entergy had capital leases and non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf sale and leaseback transaction, all of which are discussed elsewhere): Year Operating Leases Capital Leases (In Thousands) 2018 $80,368 $3,018 2019 82,516 2,887 2020 67,385 2,887 2021 58,507 2,887 2022 43,760 2,887 Years thereafter 96,550 19,004 Minimum lease payments 429,086 33,570 Less: Amount representing interest — 10,051 Present value of net minimum lease payments $429,086 $23,519 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
Entergy Arkansas [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Entergy Louisiana [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Entergy Mississippi [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Entergy New Orleans [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Entergy Texas [Member] | |
Components Of Minimum Lease Payments | As of December 31, 2017 the Registrant Subsidiaries had non-cancelable operating leases for equipment, buildings, vehicles, and fuel storage facilities with minimum lease payments as follows (excluding power purchase agreement operating leases, nuclear fuel leases, and the Grand Gulf lease obligation, all of which are discussed elsewhere): Operating Leases Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2018 $17,009 $21,814 $11,771 $1,646 $3,469 2019 17,665 22,875 10,611 1,579 2,893 2020 11,483 17,790 8,969 1,382 1,934 2021 9,363 13,762 7,059 1,033 1,299 2022 6,834 10,067 5,007 662 862 Years thereafter 23,598 19,443 5,817 1,797 2,173 Minimum lease payments $85,952 $105,751 $49,234 $8,099 $12,630 |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Purchase Power Agreement Minimum Lease Payments | The minimum lease payments under the power purchase agreement are as follows: Year Entergy Texas (a) Entergy (In Thousands) 2018 $30,458 $30,458 2019 31,159 31,159 2020 31,876 31,876 2021 32,609 32,609 2022 10,180 10,180 Years thereafter — — Minimum lease payments $136,282 $136,282 (a) Amounts reflect 100% of minimum payments. Under a separate contract, which expires May 31, 2022, Entergy Louisiana purchases 50% of the capacity and energy from the power purchase agreement from Entergy Texas. |
System Energy [Member] | |
Rent Expenses | Rental Expenses Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $7.5 $23.0 $5.6 $2.5 $3.4 $2.2 2016 $8.0 $17.8 $4.0 $0.9 $2.8 $1.6 2015 $13.6 $21.8 $5.4 $1.6 $4.0 $2.9 |
Future Minimum Lease Payments Sale Leaseback Transactions | As of December 31, 2017 , System Energy, in connection with the Grand Gulf sale and leaseback transactions, had future minimum lease payments (reflecting an implicit rate of 5.13% ) that are recorded as long-term debt, as follows: Amount (In Thousands) 2018 $17,188 2019 17,188 2020 17,188 2021 17,188 2022 17,188 Years thereafter 240,625 Total 326,565 Less: Amount representing interest 292,209 Present value of net minimum lease payments $34,356 |
Retirement, Other Postretirem41
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation and its subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, included the following components: 2017 2016 2015 (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $133,641 $143,244 $175,046 Interest cost on projected benefit obligation 260,824 261,613 302,777 Expected return on assets (408,225 ) (389,465 ) (394,618 ) Amortization of prior service cost 261 1,079 1,561 Recognized net loss 227,720 195,298 235,922 Curtailment loss — 3,084 374 Special termination benefit — — 76 Net periodic pension costs $214,221 $214,853 $321,138 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $368,067 $203,229 $50,762 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service cost (261 ) (1,079 ) (1,561 ) Acceleration of prior service cost to curtailment — (1,045 ) (374 ) Amortization of net loss (227,720 ) (195,298 ) (235,922 ) Total $140,086 $5,807 ($187,095 ) Total recognized as net periodic pension cost, regulatory asset, and/or AOCI (before tax) $354,307 $220,660 $134,043 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year: Prior service cost $398 $261 $1,079 Net loss $274,104 $227,720 $195,321 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified Pension Obligations, Plan Assets, Funded Status, Amounts Recognized in the Balance Sheet Qualified pension obligations, plan assets, funded status, amounts recognized in the Consolidated Balance Sheets for Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $7,142,567 $6,848,238 Service cost 133,641 143,244 Interest cost 260,824 261,613 Curtailment — 2,039 Actuarial loss 767,849 209,360 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Balance at December 31 $7,987,087 $7,142,567 Change in Plan Assets Fair value of assets at January 1 $5,171,202 $4,707,433 Actual return on plan assets 808,007 395,596 Employer contributions 409,901 390,100 Employee contributions 40 23 Benefits paid (317,834 ) (321,950 ) Fair value of assets at December 31 $6,071,316 $5,171,202 Funded status ($1,915,771 ) ($1,971,365 ) Amount recognized in the balance sheet Non-current liabilities ($1,915,771 ) ($1,971,365 ) Amount recognized as a regulatory asset Net loss $2,418,206 $2,326,349 Amount recognized as AOCI (before tax) Prior service cost $398 $659 Net loss 667,766 619,276 $668,164 $619,935 |
Reclassification Out of Accumulated Other Comprehensive Income, Amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2017: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($261 ) $26,867 ($355 ) $26,251 Amortization of loss (73,800 ) (8,805 ) (3,397 ) (86,002 ) Settlement loss — — (7,544 ) (7,544 ) ($74,061 ) $18,062 ($11,296 ) ($67,295 ) Entergy Louisiana Amortization of prior service cost $— $7,735 ($1 ) $7,734 Amortization of loss (3,459 ) (1,859 ) (9 ) (5,327 ) ($3,459 ) $5,876 ($10 ) $2,407 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2016: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,079 ) $30,949 ($456 ) $29,414 Acceleration of prior service cost due to curtailment (1,045 ) — — (1,045 ) Amortization of loss (49,930 ) (8,248 ) (2,515 ) (60,693 ) Settlement loss — — (2,007 ) (2,007 ) ($52,054 ) $22,701 ($4,978 ) ($34,331 ) Entergy Louisiana Amortization of prior service cost $— $7,787 ($1 ) $7,786 Amortization of loss (3,345 ) (2,926 ) (10 ) (6,281 ) ($3,345 ) $4,861 ($11 ) $1,505 |
Target Asset Allocation | Entergy’s qualified pension and postretirement weighted-average asset allocations by asset category at December 31, 2017 and 2016 and the target asset allocation and ranges for 2017 are as follows: Pension Asset Allocation Target Range Actual 2017 Actual 2016 Domestic Equity Securities 45% 37% to 53% 45% 46% International Equity Securities 20% 16% to 24% 20% 20% Fixed Income Securities 35% 32% to 38% 34% 33% Other 0% 0% to 10% 1% 1% Postretirement Asset Allocation Non-Taxable and Taxable Target Range Actual 2017 Actual 2016 Domestic Equity Securities 27% 22% to 32% 30% 40% International Equity Securities 18% 13% to 23% 20% 27% Fixed Income Securities 55% 50% to 60% 50% 33% Other 0% 0% to 5% 0% 0% |
Investments Held For Qualified Pension And Other Postretirement Plans Measured At Fair Value | The following tables set forth by level within the fair value hierarchy, measured at fair value on a recurring basis at December 31, 2017 , and December 31, 2016 , a summary of the investments held in the master trusts for Entergy’s qualified pension and other postretirement plans in which the Registrant Subsidiaries participate. Qualified Defined Benefit Pension Plan Trusts 2017 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Corporate stocks: Preferred $11,461 (b) $— $— $11,461 Common 663,923 (b) 34 (b) — 663,957 Common collective trusts (c) 3,198,799 Registered investment companies 125,174 (d) — — 125,174 Fixed income securities: U.S. Government securities — (b) 638,832 (a) — 638,832 Corporate debt instruments — 619,735 (a) — 619,735 Registered investment companies (e) 45,768 (d) 2,735 (d) — 764,251 Other 46 (f) 62,559 (f) — 62,605 Other: Insurance company general account (unallocated contracts) — 37,994 (g) — 37,994 Total investments $846,372 $1,361,889 $— $6,122,808 Cash 1,508 Other pending transactions 5,179 Less: Other postretirement assets included in total investments (58,179 ) Total fair value of qualified pension assets $6,071,316 2016 Level 1 Level 2 Level 3 Total (In Thousands) Short-term investments $— $3,610 (a) $— $3,610 Equity securities: Corporate stocks: Preferred 6,423 (b) — — 6,423 Common 745,715 (b) 39 (b) — 745,754 Common collective trusts (c) 2,072,743 103-12 investment entities (h) 335,818 Registered investment companies 258,879 (d) — — 258,879 Fixed income securities: U.S. Government securities 136 (b) 370,545 (a) — 370,681 Corporate debt instruments — 630,726 (a) — 630,726 Registered investment companies (e) 35,216 (d) 2,695 (d) — 640,836 Other 34 (f) 105,613 (f) — 105,647 Other: Insurance company general account (unallocated contracts) — 37,111 (g) — 37,111 Total investments $1,046,403 $1,150,339 $— $5,208,228 Cash 929 Other pending transactions 8,869 Less: Other postretirement assets included in total investments (46,824 ) Total fair value of qualified pension assets $5,171,202 Other Postretirement Trusts 2017 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $300,139 Fixed income securities: U.S. Government securities 81,602 (b) 76,790 (a) — 158,392 Corporate debt instruments — 92,869 (a) — 92,869 Registered investment companies 3,127 (d) — — 3,127 Other — 45,627 (f) — 45,627 Total investments $84,729 $215,286 $— $600,154 Other pending transactions 994 Plus: Other postretirement assets included in the investments of the qualified pension trust 58,179 Total fair value of other postretirement assets $659,327 2016 Level 1 Level 2 Level 3 Total (In Thousands) Equity securities: Common collective trust (c) $368,704 Fixed income securities: U.S. Government securities 30,632 (b) 43,097 (a) — 73,729 Corporate debt instruments — 58,787 (a) — 58,787 Registered investment companies 3,123 (d) — — 3,123 Other — 45,389 (f) — 45,389 Total investments $33,755 $147,273 $— $549,732 Other pending transactions 104 Plus: Other postretirement assets included in the investments of the qualified pension trust 46,824 Total fair value of other postretirement assets $596,660 (a) Certain preferred stocks and certain fixed income debt securities (corporate, government, and securitized) are stated at fair value as determined by broker quotes. (b) Common stocks, certain preferred stocks, and certain fixed income debt securities (government) are stated at fair value determined by quoted market prices. (c) The common collective trusts hold investments in accordance with stated objectives. The investment strategy of the trusts is to capture the growth potential of equity markets by replicating the performance of a specified index. Net asset value per share of common collective trusts estimate fair value. Certain of these common collective trusts are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. (d) Registered investment companies are money market mutual funds with a stable net asset value of one dollar per share. Registered investment companies may hold investments in domestic and international bond markets or domestic equities and estimate fair value using net asset value per share. (e) Certain of these registered investment companies are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. (f) The other remaining assets are U.S. municipal and foreign government bonds stated at fair value as determined by broker quotes. (g) The unallocated insurance contract investments are recorded at contract value, which approximates fair value. The contract value represents contributions made under the contract, plus interest, less funds used to pay benefits and contract expenses, and less distributions to the master trust. (h) 103-12 investment entities hold investments in accordance with stated objectives. The investment strategy of the investment entities is to capture the growth potential of international equity markets by replicating the performance of a specified index. 103-12 investment entities estimate fair value using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. |
Estimated Future Benefit Payments | Based upon the assumptions used to measure Entergy’s qualified pension and other postretirement benefit obligations at December 31, 2017 , and including pension and other postretirement benefits attributable to estimated future employee service, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for Entergy Corporation and its subsidiaries will be as follows: Estimated Future Benefits Payments Qualified Pension Non-Qualified Pension Other Postretirement (before Medicare Subsidy) Estimated Future Medicare Subsidy Receipts (In Thousands) Year(s) 2018 $412,057 $26,375 $82,087 $745 2019 $435,880 $10,108 $86,685 $842 2020 $447,224 $13,364 $89,508 $956 2021 $462,624 $10,765 $92,087 $1,071 2022 $470,846 $17,425 $94,427 $1,195 2023 - 2027 $2,478,959 $72,181 $475,991 $8,109 |
Actuarial Assumptions Used In Determining Pension And Other Postretirement Benefit Obligation | The significant actuarial assumptions used in determining the pension PBO and the other postretirement benefit APBO as of December 31, 2017 and 2016 were as follows: 2017 2016 Weighted-average discount rate: Qualified pension 3.70% - 3.82% Blended 3.78% 4.30% - 4.49% Blended 4.39% Other postretirement 3.72% 4.30% Non-qualified pension 3.34% 3.63% Weighted-average rate of increase in future compensation levels 3.98% 3.98% Assumed health care trend rate: Pre-65 6.95% 6.55% Post-65 7.25% 7.25% Ultimate rate 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2027 2026 Post-65 2027 2026 |
Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation | The significant actuarial assumptions used in determining the net periodic pension and other postretirement benefit costs for 2017 , 2016 , and 2015 were as follows: 2017 2016 2015 Weighted-average discount rate: Qualified pension: Service cost 4.75% 5.00% 4.27% Interest cost 3.73% 3.90% 4.27% Other postretirement: Service cost 4.60% 4.92% 4.23% Interest cost 3.61% 3.78% 4.23% Non-qualified pension: Service cost 3.65% 3.65% 3.61% Interest cost 3.10% 3.10% 3.61% Weighted-average rate of increase in future compensation levels 3.98% 4.23% 4.23% Expected long-term rate of return on plan assets: Pension assets 7.50% 7.75% 8.25% Other postretirement non-taxable assets 6.50% - 7.50% 7.75% 8.05% Other postretirement taxable assets 5.75% 6.00% 6.25% Assumed health care trend rate: Pre-65 6.55% 6.75% 7.10% Post-65 7.25% 7.55% 7.70% Ultimate rate 4.75% 4.75% 4.75% Year ultimate rate is reached and beyond: Pre-65 2026 2024 2023 Post-65 2026 2024 2023 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in Entergy’s assumed health care cost trend rate for 2017 would have the following effects: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase /(Decrease) (In Thousands) Entergy Corporation and its subsidiaries $166,814 $10,221 ($139,648 ) ($8,385 ) |
Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy Corporation’s and its subsidiaries’ total 2017 , 2016 , and 2015 other postretirement benefit costs, including amounts capitalized and amounts recognized as a regulatory asset and/or other comprehensive income, included the following components: 2017 2016 2015 (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $26,915 $32,291 $45,305 Interest cost on accumulated postretirement benefit obligation (APBO) 55,838 56,331 71,934 Expected return on assets (37,630 ) (41,820 ) (45,375 ) Amortization of prior service credit (41,425 ) (45,490 ) (37,280 ) Recognized net loss 21,905 18,214 31,573 Net other postretirement benefit cost $25,603 $19,526 $66,157 Other changes in plan assets and benefit obligations recognized as a regulatory asset and /or AOCI (before tax) Arising this period: Prior service credit for period ($2,564 ) ($20,353 ) ($48,192 ) Net (gain)/loss (66,922 ) 49,805 (154,339 ) Amounts reclassified from regulatory asset and /or AOCI to net periodic benefit cost in the current year: Amortization of prior service credit 41,425 45,490 37,280 Amortization of net loss (21,905 ) (18,214 ) (31,573 ) Total ($49,966 ) $56,728 ($196,824 ) Total recognized as net periodic benefit income/(cost), regulatory asset, and/or AOCI (before tax) ($24,363 ) $76,254 ($130,667 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic benefit cost in the following year Prior service credit ($37,002 ) ($41,425 ) ($45,485 ) Net loss $13,729 $21,905 $18,214 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other Postretirement Benefit Obligations, Plan Assets, Funded Status, and Amounts Not Yet Recognized and Recognized in the Balance Sheet Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Consolidated Balance Sheets of Entergy Corporation and its Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Thousands) Change in APBO Balance at January 1 $1,568,963 $1,530,829 Service cost 26,915 32,291 Interest cost 55,838 56,331 Plan amendments (2,564 ) (20,353 ) Plan participant contributions 35,080 27,686 Actuarial (gain)/loss (23,409 ) 46,201 Benefits paid (97,829 ) (104,477 ) Medicare Part D subsidy received 493 455 Balance at December 31 $1,563,487 $1,568,963 Change in Plan Assets Fair value of assets at January 1 $596,660 $579,069 Actual return on plan assets 81,143 38,216 Employer contributions 44,273 56,166 Plan participant contributions 35,080 27,686 Benefits paid (97,829 ) (104,477 ) Fair value of assets at December 31 $659,327 $596,660 Funded status ($904,160 ) ($972,303 ) Amounts recognized in the balance sheet Current liabilities ($45,237 ) ($45,255 ) Non-current liabilities (858,923 ) (927,048 ) Total funded status ($904,160 ) ($972,303 ) Amounts recognized as a regulatory asset Prior service credit ($40,461 ) ($54,896 ) Net loss 144,966 222,540 $104,505 $167,644 Amounts recognized as AOCI (before tax) Prior service credit ($65,047 ) ($89,474 ) Net loss 161,322 172,575 $96,275 $83,101 |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2017 , 2016 , and 2015 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,741 $5,079 $2,133 $731 $1,865 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-current liabilities (3,845 ) (1,830 ) (2,603 ) (562 ) (8,125 ) Total funded status ($4,221 ) ($2,061 ) ($2,738 ) ($583 ) ($8,913 ) Regulatory asset/(liability) $2,995 $166 $1,186 ($140 ) $133 Accumulated other comprehensive income (before taxes) $— $11 $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— |
Entergy Arkansas [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Reclassification Out of Accumulated Other Comprehensive Income, Amortization | Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2017: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($261 ) $26,867 ($355 ) $26,251 Amortization of loss (73,800 ) (8,805 ) (3,397 ) (86,002 ) Settlement loss — — (7,544 ) (7,544 ) ($74,061 ) $18,062 ($11,296 ) ($67,295 ) Entergy Louisiana Amortization of prior service cost $— $7,735 ($1 ) $7,734 Amortization of loss (3,459 ) (1,859 ) (9 ) (5,327 ) ($3,459 ) $5,876 ($10 ) $2,407 Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) as of December 31, 2016: Qualified Pension Costs Other Postretirement Costs Non-Qualified Pension Costs Total (In Thousands) Entergy Amortization of prior service cost ($1,079 ) $30,949 ($456 ) $29,414 Acceleration of prior service cost due to curtailment (1,045 ) — — (1,045 ) Amortization of loss (49,930 ) (8,248 ) (2,515 ) (60,693 ) Settlement loss — — (2,007 ) (2,007 ) ($52,054 ) $22,701 ($4,978 ) ($34,331 ) Entergy Louisiana Amortization of prior service cost $— $7,787 ($1 ) $7,786 Amortization of loss (3,345 ) (2,926 ) (10 ) (6,281 ) ($3,345 ) $4,861 ($11 ) $1,505 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2017 , 2016 , and 2015 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,741 $5,079 $2,133 $731 $1,865 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-current liabilities (3,845 ) (1,830 ) (2,603 ) (562 ) (8,125 ) Total funded status ($4,221 ) ($2,061 ) ($2,738 ) ($583 ) ($8,913 ) Regulatory asset/(liability) $2,995 $166 $1,186 ($140 ) $133 Accumulated other comprehensive income (before taxes) $— $11 $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— |
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2017 , 2016 , and 2015 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,741 $5,079 $2,133 $731 $1,865 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-current liabilities (3,845 ) (1,830 ) (2,603 ) (562 ) (8,125 ) Total funded status ($4,221 ) ($2,061 ) ($2,738 ) ($583 ) ($8,913 ) Regulatory asset/(liability) $2,995 $166 $1,186 ($140 ) $133 Accumulated other comprehensive income (before taxes) $— $11 $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— |
Entergy Mississippi [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2017 , 2016 , and 2015 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,741 $5,079 $2,133 $731 $1,865 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-current liabilities (3,845 ) (1,830 ) (2,603 ) (562 ) (8,125 ) Total funded status ($4,221 ) ($2,061 ) ($2,738 ) ($583 ) ($8,913 ) Regulatory asset/(liability) $2,995 $166 $1,186 ($140 ) $133 Accumulated other comprehensive income (before taxes) $— $11 $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— |
Entergy New Orleans [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
Contributions To Defined Contribution Plans | The Registrant Subsidiaries’ 2017 , 2016 , and 2015 contributions to defined contribution plans for their employees were as follows: Year Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,741 $5,079 $2,133 $731 $1,865 2016 $3,528 $4,746 $1,997 $708 $1,778 2015 $3,242 $4,324 $1,920 $721 $1,620 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The following Registrant Subsidiaries participate in Entergy’s non-qualified, non-contributory defined benefit pension plans that provide benefits to certain key employees. The net periodic pension cost for their employees for the non-qualified plans for 2017 , 2016 , and 2015 , was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $679 $185 $251 $73 $499 2016 $1,819 $231 $236 $65 $504 2015 $446 $377 $235 $64 $595 |
Schedule Of Projected Benefit Obligations | The projected benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $4,221 $2,061 $2,737 $583 $8,913 2016 $3,897 $2,134 $2,296 $514 $8,665 |
Schedule Of Accumulated Benefit Obligations | The accumulated benefit obligation for their employees for the non-qualified plans as of December 31, 2017 and 2016 was as follows: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) 2017 $3,825 $2,061 $2,250 $519 $8,602 2016 $3,439 $2,134 $1,961 $452 $8,333 |
Schedule Of Amounts Recorded On The Balance Sheet | The following amounts were recorded on the balance sheet as of December 31, 2017 and 2016 : 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($376 ) ($231 ) ($135 ) ($21 ) ($788 ) Non-current liabilities (3,845 ) (1,830 ) (2,603 ) (562 ) (8,125 ) Total funded status ($4,221 ) ($2,061 ) ($2,738 ) ($583 ) ($8,913 ) Regulatory asset/(liability) $2,995 $166 $1,186 ($140 ) $133 Accumulated other comprehensive income (before taxes) $— $11 $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Current liabilities ($242 ) ($233 ) ($137 ) ($20 ) ($773 ) Non-current liabilities (3,655 ) (1,901 ) (2,159 ) (495 ) (7,892 ) Total funded status ($3,897 ) ($2,134 ) ($2,296 ) ($515 ) ($8,665 ) Regulatory asset/(liability) $2,914 $175 $876 ($148 ) ($316 ) Accumulated other comprehensive income (before taxes) $— $13 $— $— $— |
Entergy Texas [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ total 2017 , 2016 , and 2015 qualified pension costs and amounts recognized as a regulatory asset and/or other comprehensive income, including amounts capitalized, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,358 $27,698 $5,890 $2,500 $5,455 $6,145 Interest cost on projected benefit obligation 51,776 59,235 14,927 7,163 13,569 12,364 Expected return on assets (81,707 ) (92,067 ) (24,526 ) (11,199 ) (24,722 ) (18,650 ) Recognized net loss 46,560 49,417 12,213 6,632 9,241 11,857 Net pension cost $36,987 $44,283 $8,504 $5,096 $3,543 $11,716 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $51,569 $57,510 $14,681 $8,601 $1,109 $27,733 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (46,560 ) (49,417 ) (12,213 ) (6,632 ) (9,241 ) (11,857 ) Total $5,009 $8,093 $2,468 $1,969 ($8,132 ) $15,876 Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $41,996 $52,376 $10,972 $7,065 ($4,589 ) $27,592 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $53,650 $57,800 $14,438 $7,816 $10,503 $14,859 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $20,724 $28,194 $6,250 $2,625 $5,664 $6,263 Interest cost on projected benefit obligation 52,219 59,478 15,245 7,256 14,228 11,966 Expected return on assets (79,087 ) (88,383 ) (23,923 ) (10,748 ) (24,248 ) (17,836 ) Recognized net loss 43,745 47,783 11,938 6,460 9,358 10,415 Net pension cost $37,601 $47,072 $9,510 $5,593 $5,002 $10,808 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net loss $60,968 $46,742 $10,942 $5,463 $3,816 $20,805 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (43,745 ) (47,783 ) (11,938 ) (6,460 ) (9,358 ) (10,415 ) Total $17,223 ($1,041 ) ($996 ) ($997 ) ($5,542 ) $10,390 Total recognized as net periodic pension (income)/ cost, regulatory asset, and/or AOCI (before tax) $54,824 $46,031 $8,514 $4,596 ($540 ) $21,198 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $46,560 $49,417 $12,213 $6,632 $9,241 $11,857 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Net periodic pension cost: Service cost - benefits earned during the period $26,646 $34,396 $7,929 $3,395 $6,582 $7,827 Interest cost on projected benefit obligation 61,885 69,465 18,007 8,432 17,414 13,970 Expected return on assets (80,102 ) (90,803 ) (24,420 ) (10,899 ) (24,887 ) (18,271 ) Recognized net loss 54,254 59,802 14,896 8,053 12,950 13,055 Net pension cost $62,683 $72,860 $16,412 $8,981 $12,059 $16,581 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss $16,687 $16,618 $6,329 $1,853 ($4,488 ) $101 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of net loss (54,254 ) (59,802 ) (14,896 ) (8,053 ) (12,950 ) (13,055 ) Total ($37,567 ) ($43,184 ) ($8,567 ) ($6,200 ) ($17,438 ) ($12,954 ) Total recognized as net periodic pension (income)/cost, regulatory asset, and/or AOCI (before tax) $25,116 $29,676 $7,845 $2,781 ($5,379 ) $3,627 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Net loss $43,747 $47,809 $11,938 $6,460 $9,358 $10,414 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Qualified pension obligations, plan assets, funded status, amounts recognized in the Balance Sheets for the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Service cost 20,358 27,698 5,890 2,500 5,455 6,145 Interest cost 51,776 59,235 14,927 7,163 13,569 12,364 Actuarial loss 131,729 147,704 38,726 19,507 25,339 45,471 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Balance at December 31 $1,580,756 $1,785,700 $457,549 $217,896 $410,720 $384,049 Change in Plan Assets Fair value of assets at January 1 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Actual return on plan assets 161,868 182,261 48,572 22,104 48,952 36,387 Employer contributions 79,625 87,503 19,116 9,893 17,004 18,213 Benefits paid (77,417 ) (73,170 ) (21,195 ) (8,738 ) (20,009 ) (15,312 ) Fair value of assets at December 31 $1,205,668 $1,365,741 $360,842 $165,747 $363,523 $274,432 Funded status ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($375,088 ) ($419,959 ) ($96,707 ) ($52,149 ) ($47,197 ) ($109,617 ) Amounts recognized as regulatory asset Net loss $706,783 $701,324 $191,877 $96,913 $145,412 $185,774 Amounts recognized as AOCI (before tax) Net loss $— $44,765 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in Projected Benefit Obligation (PBO) Balance at January 1 $1,400,511 $1,564,710 $408,604 $191,064 $383,627 $311,542 Service cost 20,724 28,194 6,250 2,625 5,664 6,263 Interest cost 52,219 59,478 15,245 7,256 14,228 11,966 Actuarial loss 62,187 48,357 11,343 5,573 4,274 20,661 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Balance at December 31 $1,454,310 $1,624,233 $419,201 $197,464 $386,366 $335,381 Change in Plan Assets Fair value of assets at January 1 $959,618 $1,071,234 $292,297 $129,975 $298,378 $212,006 Actual return on plan assets 80,306 89,998 24,325 10,858 24,705 17,692 Employer contributions 82,999 84,421 19,968 10,709 15,920 20,497 Benefits paid (81,331 ) (76,506 ) (22,241 ) (9,054 ) (21,427 ) (15,051 ) Fair value of assets at December 31 $1,041,592 $1,169,147 $314,349 $142,488 $317,576 $235,144 Funded status ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized in the balance sheet (funded status) Non-current liabilities ($412,718 ) ($455,086 ) ($104,852 ) ($54,976 ) ($68,790 ) ($100,237 ) Amounts recognized as regulatory asset Net loss $701,774 $686,337 $189,409 $94,944 $153,544 $169,897 Amounts recognized as AOCI (before tax) Net loss $— $51,660 $— $— $— $— |
Schedule Of Accumulated Benefit Obligations | The qualified pension accumulated benefit obligation for each of the Registrant Subsidiaries for their employees as of December 31, 2017 and 2016 was as follows: December 31, 2017 2016 (In Thousands) Entergy Arkansas $1,492,876 $1,379,265 Entergy Louisiana $1,652,939 $1,513,884 Entergy Mississippi $430,268 $396,081 Entergy New Orleans $205,316 $186,247 Entergy Texas $387,083 $365,251 System Energy $359,258 $315,131 |
Estimated Future Benefit Payments | Based upon the same assumptions, Entergy expects that benefits to be paid and the Medicare Part D subsidies to be received over the next ten years for the Registrant Subsidiaries for their employees will be as follows: Estimated Future Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $87,295 $93,155 $25,833 $11,484 $25,333 $17,780 2019 $87,832 $96,060 $25,977 $12,202 $25,656 $18,566 2020 $88,905 $100,179 $27,198 $12,463 $26,399 $19,398 2021 $90,278 $103,810 $27,508 $13,087 $26,756 $20,279 2022 $92,061 $107,609 $27,389 $13,207 $26,310 $21,714 2023 - 2027 $479,160 $571,926 $141,912 $69,595 $130,905 $117,835 Estimated Future Non-Qualified Pension Benefits Payments Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Year(s) 2018 $376 $231 $135 $21 $788 2019 $300 $219 $137 $55 $764 2020 $355 $208 $290 $36 $895 2021 $310 $196 $192 $39 $723 2022 $506 $186 $201 $41 $662 2023 - 2027 $2,196 $749 $1,462 $459 $3,762 Estimated Future Other Postretirement Benefits Payments (before Medicare Part D Subsidy) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $15,282 $18,962 $4,677 $3,954 $6,485 $3,246 2019 $15,398 $19,767 $4,818 $4,000 $6,842 $3,363 2020 $15,349 $20,287 $5,043 $3,952 $7,101 $3,381 2021 $15,483 $20,756 $5,218 $3,899 $7,369 $3,537 2022 $15,419 $21,250 $5,331 $3,800 $7,519 $3,595 2023 - 2027 $75,293 $108,290 $26,723 $17,698 $36,897 $17,677 Estimated Future Medicare Part D Subsidy Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Year(s) 2018 $164 $168 $58 $38 $64 $23 2019 $185 $187 $65 $39 $69 $27 2020 $209 $210 $70 $41 $75 $33 2021 $230 $234 $76 $43 $81 $38 2022 $254 $257 $82 $46 $88 $46 2023 - 2027 $1,646 $1,720 $514 $259 $552 $346 |
One Percentage Point Change In Assumed Health Care Cost Trend Rate | A one percentage point change in the assumed health care cost trend rate for 2017 would have the following effects for the Registrant Subsidiaries for their employees: 1 Percentage Point Increase 1 Percentage Point Decrease 2017 Impact on the APBO Impact on the sum of service costs and interest cost Impact on the APBO Impact on the sum of service costs and interest cost Increase/(Decrease) (In Thousands) Entergy Arkansas $23,612 $1,369 ($19,810 ) ($1,133 ) Entergy Louisiana $37,240 $2,333 ($31,063 ) ($1,909 ) Entergy Mississippi $8,666 $448 ($7,276 ) ($370 ) Entergy New Orleans $4,585 $251 ($3,895 ) ($208 ) Entergy Texas $12,444 $751 ($10,452 ) ($618 ) System Energy $7,334 $475 ($6,074 ) ($387 ) |
Expected Employer Contributions | The Registrant Subsidiaries expect to contribute approximately the following to the qualified pension and other postretirement plans for their employees in 2018: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Pension Contributions $64,062 $71,917 $14,933 $7,250 $10,883 $13,786 Other Postretirement Contributions $472 $18,962 $110 $3,669 $3,231 $16 |
System Energy [Member] | Other Postretirement Benefit Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Total 2017 , 2016 , and 2015 other postretirement benefit costs of the Registrant Subsidiaries, including amounts capitalized and deferred, for their employees included the following components: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy Other postretirement costs: Service cost - benefits earned during the period $3,451 $6,373 $1,160 $567 $1,488 $1,278 Interest cost on APBO 9,020 12,101 2,759 1,874 4,494 2,236 Expected return on assets (15,836 ) — (4,801 ) (4,635 ) (8,720 ) (2,869 ) Amortization of prior service credit (5,110 ) (7,735 ) (1,823 ) (745 ) (2,316 ) (1,513 ) Recognized net loss 4,460 1,859 1,675 418 3,303 1,560 Net other postretirement benefit (income)/cost ($4,015 ) $12,598 ($1,030 ) ($2,521 ) ($1,751 ) $692 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Net (gain)/loss (29,534 ) (1,256 ) 506 (7,342 ) (22,255 ) (5,459 ) Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,110 7,735 1,823 745 2,316 1,513 Amortization of net loss (4,460 ) (1,859 ) (1,675 ) (418 ) (3,303 ) (1,560 ) Total ($28,884 ) $4,620 $654 ($7,015 ) ($23,242 ) ($5,506 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($32,899 ) $17,218 ($376 ) ($9,536 ) ($24,993 ) ($4,814 ) Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,735 ) ($1,823 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $1,154 $1,550 $1,508 $137 $823 $932 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $3,913 $7,476 $1,543 $622 $1,590 $1,337 Interest cost on APBO 9,297 13,041 2,835 1,791 4,154 2,117 Expected return on assets (17,855 ) — (5,517 ) (4,617 ) (9,575 ) (3,257 ) Amortization of prior service credit (5,472 ) (7,787 ) (934 ) (745 ) (2,722 ) (1,570 ) Recognized net loss 4,256 2,926 893 146 2,148 1,149 Net other postretirement benefit (income)/cost ($5,861 ) $15,656 ($1,180 ) ($2,803 ) ($4,405 ) ($224 ) Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($1,007 ) ($4,647 ) ($6,219 ) $— $— $— Net (gain)/loss 3,331 (13,117 ) 8,715 5,717 13,378 4,997 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 5,472 7,787 934 745 2,722 1,570 Amortization of net loss (4,256 ) (2,926 ) (893 ) (146 ) (2,148 ) (1,149 ) Total $3,540 ($12,903 ) $2,537 $6,316 $13,952 $5,418 Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($2,321 ) $2,753 $1,357 $3,513 $9,547 $5,194 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,110 ) ($7,739 ) ($1,824 ) ($745 ) ($2,316 ) ($1,513 ) Net loss $4,460 $1,859 $1,675 $418 $3,303 $1,560 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Other postretirement costs: Service cost - benefits earned during the period $6,957 $9,893 $2,028 $818 $2,000 $1,881 Interest cost on APBO 12,518 16,311 3,436 2,608 5,366 2,511 Expected return on assets (19,190 ) — (6,166 ) (4,804 ) (10,351 ) (3,644 ) Amortization of prior service credit (2,441 ) (7,467 ) (916 ) (709 ) (2,723 ) (1,465 ) Recognized net loss 5,356 7,118 860 470 2,740 1,198 Net other postretirement benefit (income)/cost $3,200 $25,855 ($758 ) ($1,617 ) ($2,968 ) $481 Other changes in plan assets and benefit obligations recognized as a regulatory asset and/or AOCI (before tax) Arising this period: Prior service credit for the period ($18,035 ) ($1,361 ) $— $— $— ($644 ) Net (gain)/loss (11,978 ) (47,043 ) 774 (5,810 ) (4,907 ) 305 Amounts reclassified from regulatory asset and/or AOCI to net periodic pension cost in the current year: Amortization of prior service credit 2,441 7,467 916 709 2,723 1,465 Amortization of net loss (5,356 ) (7,118 ) (860 ) (470 ) (2,740 ) (1,198 ) Total ($32,928 ) ($48,055 ) $830 ($5,571 ) ($4,924 ) ($72 ) Total recognized as net periodic other postretirement income/(cost), regulatory asset, and/or AOCI (before tax) ($29,728 ) ($22,200 ) $72 ($7,188 ) ($7,892 ) $409 Estimated amortization amounts from regulatory asset and/or AOCI to net periodic cost in the following year Prior service credit ($5,472 ) ($7,783 ) ($933 ) ($745 ) ($2,722 ) ($1,570 ) Net loss $4,256 $2,926 $893 $146 $2,148 $1,149 |
Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet | Other postretirement benefit obligations, plan assets, funded status, and amounts not yet recognized and recognized in the Balance Sheets of the Registrant Subsidiaries as of December 31, 2017 and 2016 are as follows: 2017 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Service cost 3,451 6,373 1,160 567 1,488 1,278 Interest cost 9,020 12,101 2,759 1,874 4,494 2,236 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Actuarial (gain)/loss (11,691 ) (1,256 ) 5,858 (899 ) (12,469 ) (2,233 ) Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Medicare Part D subsidy received 74 89 22 10 16 28 Balance at December 31 $249,019 $345,389 $84,621 $53,548 $116,702 $61,381 Change in Plan Assets Fair value of assets at January 1 $250,926 $— $75,945 $74,236 $137,069 $44,885 Actual return on plan assets 33,679 — 10,153 11,078 18,506 6,095 Employer contributions 695 14,418 (2 ) 3,709 3,123 570 Plan participant contributions 7,875 7,855 2,160 1,151 2,453 1,779 Benefits paid (18,497 ) (22,273 ) (5,823 ) (4,670 ) (6,980 ) (4,205 ) Fair value of assets at December 31 $274,678 $— $82,433 $85,504 $154,171 $49,124 Funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in the balance sheet Current liabilities $— ($18,794 ) $— $— $— $— Non-current liabilities 25,659 (326,595 ) (2,188 ) 31,956 37,469 (12,257 ) Total funded status $25,659 ($345,389 ) ($2,188 ) $31,956 $37,469 ($12,257 ) Amounts recognized in regulatory asset Prior service credit ($16,574 ) $— ($6,687 ) ($1,427 ) ($5,980 ) ($3,819 ) Net loss 42,394 — 25,247 4,269 24,478 16,386 $25,820 $— $18,560 $2,842 $18,498 $12,567 Amounts recognized in AOCI (before tax) Prior service credit $— ($19,999 ) $— $— $— $— Net loss — 51,585 — — — — $— $31,586 $— $— $— $— 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Change in APBO Balance at January 1 $258,900 $356,253 $77,382 $51,951 $114,582 $57,645 Service cost 3,913 7,476 1,543 622 1,590 1,337 Interest cost 9,297 13,041 2,835 1,791 4,154 2,117 Plan amendments (1,007 ) (4,647 ) (6,219 ) — — — Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Actuarial (gain)/loss 2,453 (13,117 ) 8,230 4,774 12,389 4,806 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Medicare Part D subsidy received 79 114 24 16 35 21 Balance at December 31 $258,787 $342,500 $78,485 $55,515 $127,700 $62,498 Change in Plan Assets Fair value of assets at January 1 $243,206 $— $75,538 $69,881 $130,374 $44,917 Actual return on plan assets 16,977 — 5,032 3,674 8,586 3,066 Employer contributions 5,591 16,620 685 4,320 3,159 330 Plan participant contributions 6,330 6,273 1,721 1,213 1,927 1,390 Benefits paid (21,178 ) (22,893 ) (7,031 ) (4,852 ) (6,977 ) (4,818 ) Fair value of assets at December 31 $250,926 $— $75,945 $74,236 $137,069 $44,885 Funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in the balance sheet Current liabilities $— ($19,209 ) $— $— $— $— Non-current liabilities (7,861 ) (323,291 ) (2,540 ) 18,721 9,369 (17,613 ) Total funded status ($7,861 ) ($342,500 ) ($2,540 ) $18,721 $9,369 ($17,613 ) Amounts recognized in regulatory asset Prior service credit ($21,684 ) $— ($8,511 ) ($2,172 ) ($8,296 ) ($5,332 ) Net loss 76,388 — 26,416 12,029 50,036 23,405 $54,704 $— $17,905 $9,857 $41,740 $18,073 Amounts recognized in AOCI (before tax) Prior service credit $— ($27,735 ) $— $— $— $— Net loss — 54,700 — — — — $— $26,965 $— $— $— $— |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for stock options for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $4.4 $4.4 $4.3 Tax benefit recognized in Entergy’s consolidated net income $1.7 $1.7 $1.6 Compensation cost capitalized as part of fixed assets and inventory $0.7 $0.7 $0.7 |
Schedule of Weighted Average Assumptions | The stock option weighted-average assumptions used in determining the fair values are as follows: 2017 2016 2015 Stock price volatility 18.39% 20.38% 23.62% Expected term in years 7.35 7.25 7.06 Risk-free interest rate 2.31% 1.77% 1.59% Dividend yield 4.75% 4.50% 4.50% Dividend payment per share $3.50 $3.42 $3.34 |
Schedule of Stock Option Activity | A summary of stock option activity for the year ended December 31, 2017 and changes during the year are presented below: Number of Options Weighted- Average Exercise Price Aggregate Intrinsic Value Weighted- Average Contractual Life Options outstanding as of January 1, 2017 7,137,210 $84.91 Options granted 791,900 $70.53 Options exercised (1,109,306 ) $72.74 Options forfeited/expired (1,654,950 ) $91.36 Options outstanding as of December 31, 2017 5,164,854 $83.26 $— 4.18 years Options exercisable as of December 31, 2017 4,027,902 $86.37 $— 2.94 years Weighted-average grant-date fair value of options granted during 2017 $6.54 |
Schedule of Stock Options Outstanding | The following table summarizes information about stock options outstanding as of December 31, 2017 : Options Outstanding Options Exercisable Range of As of Weighted-Average Remaining Contractual Life-Yrs. Weighted Average Exercise Price Number Exercisable as of Weighted Average Exercise Price Exercise Prices 12/31/2017 12/31/2017 $51 - $64.99 502,709 5.73 $63.68 502,709 $63.68 $65 - $78.99 2,790,045 5.56 $72.94 1,751,402 $74.36 $79 - $91.99 441,000 7.08 $89.90 342,691 $89.90 $92 - $108.20 1,431,100 0.06 $108.20 1,431,100 $108.20 $51 - $108.20 5,164,854 4.18 $83.26 4,027,902 $86.37 |
Restricted Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for restricted stock for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $19.7 $19.8 $19.5 Tax benefit recognized in Entergy’s consolidated net income $7.6 $7.6 $7.5 Compensation cost capitalized as part of fixed assets and inventory $5.2 $4.5 $3.9 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock awards outstanding as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 683,474 $74.80 Granted 410,787 $70.71 Vested (330,816 ) $73.61 Forfeited (53,834 ) $75.63 Outstanding shares at December 31, 2017 709,611 $72.92 |
Long-Term Incentive Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for the long-term performance units for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $10.8 $12.3 $11.8 Tax benefit recognized in Entergy’s consolidated net income $4.2 $4.8 $4.5 Compensation cost capitalized as part of fixed assets and inventory $3.0 $2.9 $2.3 |
Schedule of Stock Options Outstanding | The following table includes information about the long-term performance units outstanding at the target level as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 571,551 $82.02 Granted 258,808 $72.28 Vested (86,964 ) $67.16 Forfeited (209,244 ) $72.12 Outstanding shares at December 31, 2017 534,151 $83.60 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Financial Information For Stock Options | The following table includes financial information for restricted stock unit awards for each of the years presented: 2017 2016 2015 (In Millions) Compensation expense included in Entergy’s consolidated net income $2.5 $2.2 $0.9 Tax benefit recognized in Entergy’s consolidated net income $1.0 $0.8 $0.4 Compensation cost capitalized as part of fixed assets and inventory $0.6 $0.4 $0.3 |
Schedule of Stock Options Outstanding | The following table includes information about the restricted stock unit awards outstanding as of December 31, 2017 : Shares Weighted-Average Grant Date Fair Value Per Share Outstanding shares at January 1, 2017 181,650 $74.94 Granted 40,170 $79.10 Vested (5,800 ) $73.22 Forfeited (14,450 ) $79.69 Outstanding shares at December 31, 2017 201,570 $75.48 |
Business Segment Information Bu
Business Segment Information Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment | Entergy’s segment financial information is as follows: 2017 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,417,866 $1,656,730 $— ($115 ) $11,074,481 Asset write-offs, impairments, and related charges $— $538,372 $— $— $538,372 Depreciation, amortization, & decommissioning $1,345,906 $448,079 $1,678 $— $1,795,663 Interest and investment income $218,317 $224,121 $21,669 ($175,910 ) $288,197 Interest expense $547,301 $23,714 $139,619 ($48,291 ) $662,343 Income taxes $794,616 ($146,480 ) ($105,566 ) $— $542,570 Consolidated net income (loss) $773,148 ($172,335 ) ($47,840 ) ($127,620 ) $425,353 Total assets $42,978,669 $5,638,009 $1,011,612 ($2,921,141 ) $46,707,149 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,680,513 $320,667 $438 $— $4,001,618 2016 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $8,996,106 $1,849,638 $— ($99 ) $10,845,645 Asset write-offs, impairments, and related charges $— $2,835,637 $— $— $2,835,637 Depreciation, amortization, & decommissioning $1,298,043 $374,922 $1,647 $— $1,674,612 Interest and investment income $189,994 $108,466 $27,385 ($180,718 ) $145,127 Interest expense $557,546 $22,858 $139,090 ($53,124 ) $666,370 Income taxes $424,388 ($1,192,263 ) ($49,384 ) $— ($817,259 ) Consolidated net income (loss) $1,151,133 ($1,493,124 ) ($94,917 ) ($127,595 ) ($564,503 ) Total assets $41,098,751 $6,696,038 $1,283,816 ($3,174,171 ) $45,904,434 Investment in affiliates - at equity $198 $— $— $— $198 Cash paid for long-lived asset additions $3,754,225 $289,639 $393 $— $4,044,257 2015 Utility Entergy Wholesale Commodities* All Other Eliminations Consolidated (In Thousands) Operating revenues $9,451,486 $2,061,827 $— ($62 ) $11,513,251 Asset write-offs, impairments, and related charges $68,672 $2,036,234 $— $— $2,104,906 Depreciation, amortization, & decommissioning $1,238,832 $376,560 $2,156 $— $1,617,548 Interest and investment income $191,546 $148,654 $34,303 ($187,441 ) $187,062 Interest expense $543,132 $26,788 $129,750 ($56,201 ) $643,469 Income taxes $16,761 ($610,339 ) ($49,349 ) $— ($642,927 ) Consolidated net income (loss) $1,114,516 ($1,065,657 ) ($74,353 ) ($131,240 ) ($156,734 ) Total assets $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 Investment in affiliates - at equity $199 $4,142 $— $— $4,341 Cash paid for long-lived asset additions $2,495,194 $569,824 $236 $— $3,065,254 Businesses marked with * are sometimes referred to as the “competitive businesses.” Eliminations are primarily intersegment activity. Almost all of Entergy’s goodwill is related to the Utility segment. |
Restructuring and Related Costs | Total restructuring charges in 2017 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2017 $70 $21 $91 Restructuring costs accrued 113 — 113 Non-cash portion — (7 ) (7 ) Cash paid out 100 — 100 Balance as of December 31, 2017 $83 $14 $97 Total restructuring charges in 2016 were comprised of the following: Employee retention and severance expenses and other benefits-related costs Contracted economic development costs Total (In Millions) Balance as of January 1, 2016 $— $— $— Restructuring costs accrued 74 21 95 Non-cash portion (3 ) — (3 ) Cash paid out 1 — 1 Balance as of December 31, 2016 $70 $21 $91 |
Acquisitions, Dispositions, a44
Acquisitions, Dispositions, and Impairment of Long-Lived Assets Acquisitions, Dispositions, and Impairments of Long-Lived Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Significant Unobservable Inputs [Table Text Block] | The following table sets forth a description of significant unobservable inputs used in the valuation of the FitzPatrick, Pilgrim, Palisades, and Indian Point plants and related assets: Significant Unobservable Inputs Amount Weighted-Average 2015 Weighted-average cost of capital FitzPatrick 7.5% 7.5% Pilgrim (a) 7.5%-8.0% 7.9% Palisades 7.5% 7.5% Long-term pre-tax operating margin (cash basis) FitzPatrick 10.2% 10.2% Pilgrim (a) 2.4%-10.6% 8.1% Palisades (b) 30.8% 30.8% 2016 Weighted-average cost of capital Indian Point (c) 7.0%-7.5% 7.2% Palisades 6.5% 6.5% Long-term pre-tax operating margin (cash basis) Indian Point 19.7% 19.7% Palisades (b) (d) 17.8%-38.8% 34.6% (a) The fair value of Pilgrim was based on the probability weighting of two potential scenarios. (b) Most of the Palisades output is sold under a 15 -year power purchase agreement, entered at the plant’s acquisition in 2007, that is scheduled to expire in 2022. The power purchase agreement prices currently exceed market prices and escalate each year, up to $61.50 /MWh in 2022. (c) The cash flows extending through the 2021 shutdown at Indian Point 3 were assigned a higher discount factor to incorporate the increased risk associated with longer operations. (d) The fair value of Palisades at December 31, 2016 is based on the probability weighting of whether the PPA will terminate before the originally scheduled termination in 2022. |
Risk Management And Fair Valu45
Risk Management And Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Inputs Liabilities Quantitative Information | The following table sets forth a description of the types of transactions classified as Level 3 in the fair value hierarchy and significant unobservable inputs to each which cause that classification, as of December 31, 2017 : Transaction Type Fair Value as of December 31, 2017 Significant Unobservable Inputs Range from Average % Effect on Fair Value (In Millions) (In Millions) Power contracts - electricity swaps ($65) Unit contingent discount +/- 4% - 4.75% $6 - $7 |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2017 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $19 ($19) $— Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $19 ($14) $5 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $86 ($20) $66 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $17 ($14) $3 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $9 ($9) $— Entergy Wholesale Commodities Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $9 ($8) $1 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $6 $— $6 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2016 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging. Instrument Balance Sheet Location Fair Value (a) Offset (b) Net (c) (d) Business (In Millions) Derivatives designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $25 ($14) $11 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($6) $— Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $11 ($10) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $16 ($7) $9 Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $18 ($13) $5 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $5 ($5) $— Entergy Wholesale Commodities Natural gas swaps Prepayments and other $13 $— $13 Utility Financial transmission rights Prepayments and other $22 ($1) $21 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $18 ($17) $1 Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $4 ($4) $— Entergy Wholesale Commodities (a) Represents the gross amounts of recognized assets/liabilities (b) Represents the netting of fair value balances with the same counterparty (c) Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheet (d) Excludes cash collateral in the amount of $1 million posted and $4 million held as of December 31, 2017 and $2 million posted as of December 31, 2016. Also excludes $34 million in letters of credit held as of December 31, 2017 |
Derivative Instruments Designated As Cash Flow Hedges On Consolidated Statements Of Income | The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain (loss) reclassified from accumulated other comprehensive income into income (a) (In Millions) (In Millions) 2017 Electricity swaps and options $44 Competitive business operating revenues $109 2016 Electricity swaps and options $135 Competitive business operating revenues $293 2015 Electricity swaps and options $254 Competitive business operating revenues ($244) (a) Before taxes of $38 million , $103 million , and ($85) million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Amount of gain recognized in accumulated other comprehensive income Income Statement location Amount of gain (loss) recorded in the income statement (In Millions) (In Millions) 2017 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($31) Financial transmission rights $— Purchased power expense (b) $139 Electricity swaps and options $— (c) Competitive business operating revenues $— 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $11 Financial transmission rights $— Purchased power expense (b) $125 Electricity swaps and options $— (c) Competitive business operating revenues ($11) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($41) Financial transmission rights $— Purchased power expense (b) $166 Electricity swaps and options $12 (c) Competitive business operating revenues ($19) |
Assets and liabilities at fair value on a recurring basis | The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2017 and December 31, 2016 . The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect their placement within the fair value hierarchy levels. 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $725 $— $— $725 Decommissioning trust funds (a): Equity securities 526 — — 526 Debt securities 1,125 1,425 — 2,550 Common trusts (b) 4,136 Power contracts — — 5 5 Securitization recovery trust account 45 — — 45 Escrow accounts 406 — — 406 Financial transmission rights — — 21 21 $2,827 $1,425 $26 $8,414 Liabilities: Power contracts $— $— $70 $70 Gas hedge contracts 6 — — 6 $6 $— $70 $76 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,058 $— $— $1,058 Decommissioning trust funds (a): Equity securities 480 — — 480 Debt securities 985 1,228 — 2,213 Common trusts (b) 3,031 Power contracts — — 16 16 Securitization recovery trust account 46 — — 46 Escrow accounts 433 — — 433 Gas hedge contracts 13 — — 13 Financial transmission rights — — 21 21 $3,015 $1,228 $37 $7,311 Liabilities: Power contracts $— $— $11 $11 (a) The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements for additional information on the investment portfolios. (b) Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later da |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the years ended December 31, 2017 , 2016 , and 2015 : 2017 2016 2015 Power Contracts Financial transmission rights Power Contracts Financial transmission rights Power Contracts Financial transmission rights (In Millions) Balance as of January 1, $5 $21 $189 $23 $215 $47 Total gains (losses) for the period (a) Included in earnings (3 ) 1 (10 ) — (20 ) (1 ) Included in other comprehensive income 44 — 135 — 254 — Included as a regulatory liability/asset — 76 — 68 — 63 Issuances of financial transmission rights — 62 — 55 — 80 Purchases — — — — 15 — Settlements (111 ) (139 ) (309 ) (125 ) (275 ) (166 ) Balance as of December 31, ($65 ) $21 $5 $21 $189 $23 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is $0.9 million , $0.2 million , and $3 million for the years ended December 31, 2017, 2016, and 2015, respectively. |
Entergy Arkansas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas |
Assets and liabilities at fair value on a recurring basis | The following table sets forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets that are accounted for at fair value on a recurring basis as of December 31, 2017 and December 31, 2016 . The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect its placement within the fair value hierarchy levels. Entergy Arkansas 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $11.7 $— $— $11.7 Debt securities 115.8 232.4 — 348.2 Common trusts (b) 585.0 Securitization recovery trust account 3.7 — — 3.7 Escrow accounts 2.4 — — 2.4 Financial transmission rights — — 3.0 3.0 $133.6 $232.4 $3.0 $954.0 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $3.6 $— $— $3.6 Debt securities 112.5 196.8 — 309.3 Common trusts (b) 521.8 Securitization recovery trust account 4.1 — — 4.1 Escrow accounts 7.1 — — 7.1 Financial transmission rights — — 5.4 5.4 $127.3 $196.8 $5.4 $851.3 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2017 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $5.4 $8.5 $3.2 $1.1 $3.1 Issuances of financial transmission rights 8.9 31.0 9.6 5.0 7.1 Gains (losses) included as a regulatory liability/asset 30.4 16.5 8.2 5.2 15.5 Settlements (41.7 ) (45.8 ) (18.9 ) (9.1 ) (22.3 ) Balance as of December 31, $3.0 $10.2 $2.1 $2.2 $3.4 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 |
Entergy Louisiana [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas |
Assets and liabilities at fair value on a recurring basis | Entergy Louisiana 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $30.1 $— $— $30.1 Decommissioning trust funds (a): Equity securities 15.2 — — 15.2 Debt securities 143.3 350.5 — 493.8 Common trusts (b) 803.1 Escrow accounts 289.5 — — 289.5 Securitization recovery trust account 2.0 — — 2.0 Financial transmission rights — — 10.2 10.2 $480.1 $350.5 $10.2 $1,643.9 Liabilities: Gas hedge contracts $5.0 $— $— $5.0 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $163.9 $— $— $163.9 Decommissioning trust funds (a): Equity securities 13.9 — — 13.9 Debt securities 132.3 292.5 — 424.8 Common trusts (b) 702.0 Escrow accounts 305.7 — — 305.7 Securitization recovery trust account 2.8 — — 2.8 Gas hedge contracts 10.9 — — 10.9 Financial transmission rights — — 8.5 8.5 $629.5 $292.5 $8.5 $1,632.5 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2017 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $5.4 $8.5 $3.2 $1.1 $3.1 Issuances of financial transmission rights 8.9 31.0 9.6 5.0 7.1 Gains (losses) included as a regulatory liability/asset 30.4 16.5 8.2 5.2 15.5 Settlements (41.7 ) (45.8 ) (18.9 ) (9.1 ) (22.3 ) Balance as of December 31, $3.0 $10.2 $2.1 $2.2 $3.4 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 |
Entergy Mississippi [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas |
Assets and liabilities at fair value on a recurring basis | Entergy Mississippi 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $4.5 $— $— $4.5 Escrow accounts 32.0 — — 32.0 Financial transmission rights — — 2.1 2.1 $36.5 $— $2.1 $38.6 Liabilities: Gas hedge contracts $1.2 $— $— $1.2 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $76.8 $— $— $76.8 Escrow accounts 31.8 — — 31.8 Gas hedge contracts 2.3 — — 2.3 Financial transmission rights — — 3.2 3.2 $110.9 $— $3.2 $114.1 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2017 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $5.4 $8.5 $3.2 $1.1 $3.1 Issuances of financial transmission rights 8.9 31.0 9.6 5.0 7.1 Gains (losses) included as a regulatory liability/asset 30.4 16.5 8.2 5.2 15.5 Settlements (41.7 ) (45.8 ) (18.9 ) (9.1 ) (22.3 ) Balance as of December 31, $3.0 $10.2 $2.1 $2.2 $3.4 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 |
Entergy New Orleans [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas |
Assets and liabilities at fair value on a recurring basis | Entergy New Orleans 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $32.7 $— $— $32.7 Securitization recovery trust account 1.5 — — 1.5 Escrow accounts 81.9 — — 81.9 Financial transmission rights — — 2.2 2.2 $116.1 $— $2.2 $118.3 Liabilities: Gas hedge contracts $0.2 $— $— $0.2 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $103.0 $— $— $103.0 Securitization recovery trust account 1.7 — — 1.7 Escrow accounts 88.6 — — 88.6 Gas hedge contracts 0.2 — — 0.2 Financial transmission rights — — 1.1 1.1 $193.5 $— $1.1 $194.6 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2017 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $5.4 $8.5 $3.2 $1.1 $3.1 Issuances of financial transmission rights 8.9 31.0 9.6 5.0 7.1 Gains (losses) included as a regulatory liability/asset 30.4 16.5 8.2 5.2 15.5 Settlements (41.7 ) (45.8 ) (18.9 ) (9.1 ) (22.3 ) Balance as of December 31, $3.0 $10.2 $2.1 $2.2 $3.4 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 |
Entergy Texas [Member] | |
Fair Values Of Derivative Instruments | The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2017 and 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) 2017 Assets: Financial transmission rights Prepayments and other $3.0 Entergy Arkansas Financial transmission rights Prepayments and other $10.2 Entergy Louisiana Financial transmission rights Prepayments and other $2.1 Entergy Mississippi Financial transmission rights Prepayments and other $2.2 Entergy New Orleans Financial transmission rights Prepayments and other $3.4 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $5.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.2 Entergy Mississippi Natural gas swaps Other current liabilities $0.2 Entergy New Orleans 2016 Assets: Natural gas swaps Prepayments and other $10.9 Entergy Louisiana Natural gas swaps Prepayments and other $2.3 Entergy Mississippi Natural gas swaps Prepayments and other $0.2 Entergy New Orleans Financial transmission rights Prepayments and other $5.4 Entergy Arkansas Financial transmission rights Prepayments and other $8.5 Entergy Louisiana Financial transmission rights Prepayments and other $3.2 Entergy Mississippi Financial transmission rights Prepayments and other $1.1 Entergy New Orleans Financial transmission rights Prepayments and other $3.1 Entergy Texas (a) As of December 31, 2017, letters of credit posted with MISO covered financial transmission rights exposure of $0.2 million for Entergy Arkansas, $0.1 million for Entergy Mississippi, and $0.05 million for Entergy Texas. As of December 31, 2016, letters of credit posted with MISO covered financial transmission rights exposure of $0.3 million for Entergy Arkansas and $0.1 million for Entergy Mississippi. |
Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income | The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the years ended December 31, 2017 , 2016 , and 2015 are as follows: Instrument Income Statement Location Amount of gain (loss) recorded in the income statement Registrant (In Millions) 2017 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($25.4) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($5.2) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.3) (a) Entergy New Orleans Financial transmission rights Purchased power $41.7 (b) Entergy Arkansas Financial transmission rights Purchased power $45.8 (b) Entergy Louisiana Financial transmission rights Purchased power $18.9 (b) Entergy Mississippi Financial transmission rights Purchased power $9.1 (b) Entergy New Orleans Financial transmission rights Purchased power $22.3 (b) Entergy Texas 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $8.4 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $3.1 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans Financial transmission rights Purchased power $23.2 (b) Entergy Arkansas Financial transmission rights Purchased power $69.7 (b) Entergy Louisiana Financial transmission rights Purchased power $16.6 (b) Entergy Mississippi Financial transmission rights Purchased power $4.1 (b) Entergy New Orleans Financial transmission rights Purchased power $10.2 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($33.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($6.1) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.4) (a) Entergy New Orleans Financial transmission rights Purchased power $68.7 (b) Entergy Arkansas Financial transmission rights Purchased power $55.4 (b) Entergy Louisiana Financial transmission rights Purchased power $16.5 (b) Entergy Mississippi Financial transmission rights Purchased power $8.5 (b) Entergy New Orleans Financial transmission rights Purchased power $16.8 (b) Entergy Texas |
Assets and liabilities at fair value on a recurring basis | Entergy Texas 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $115.5 $— $— $115.5 Securitization recovery trust account 37.7 — — 37.7 Financial transmission rights — — 3.4 3.4 $153.2 $— $3.4 $156.6 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets : Temporary cash investments $5.0 $— $— $5.0 Securitization recovery trust account 37.5 — — 37.5 Financial transmission rights — — 3.1 3.1 $42.5 $— $3.1 $45.6 |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy | The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2017 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $5.4 $8.5 $3.2 $1.1 $3.1 Issuances of financial transmission rights 8.9 31.0 9.6 5.0 7.1 Gains (losses) included as a regulatory liability/asset 30.4 16.5 8.2 5.2 15.5 Settlements (41.7 ) (45.8 ) (18.9 ) (9.1 ) (22.3 ) Balance as of December 31, $3.0 $10.2 $2.1 $2.2 $3.4 The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy for the year ended December 31, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $7.9 $8.5 $2.4 $1.5 $2.2 Issuances of financial transmission rights 18.8 18.1 5.9 2.8 9.3 Gains included as a regulatory liability/asset 1.9 51.6 11.5 0.9 1.8 Settlements (23.2 ) (69.7 ) (16.6 ) (4.1 ) (10.2 ) Balance as of December 31, $5.4 $8.5 $3.2 $1.1 $3.1 |
System Energy [Member] | |
Assets and liabilities at fair value on a recurring basis | System Energy 2017 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $287.1 $— $— $287.1 Decommissioning trust funds (a): Equity securities 3.1 — — 3.1 Debt securities 187.2 143.3 — 330.5 Common trusts (b) 572.1 $477.4 $143.3 $— $1,192.8 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $245.1 $— $— $245.1 Decommissioning trust funds (a): Equity securities 0.3 — — 0.3 Debt securities 248.3 58.3 — 306.6 Common trusts (b) 473.6 $493.7 $58.3 $— $1,025.6 |
Decommissioning Trust Funds (Ta
Decommissioning Trust Funds (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Securities Held | The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $4,662 $2,131 $1 $3,511 $1,673 $1 Debt Securities 2,550 44 16 2,213 34 27 Total $7,212 $2,175 $17 $5,724 $1,707 $28 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8 $1 $1,099 $7 $23 $1 $1,169 $26 More than 12 months — — 265 9 1 — 20 1 Total $8 $1 $1,364 $16 $24 $1 $1,189 $27 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $74 $125 1 year - 5 years 902 763 5 years - 10 years 812 719 10 years - 15 years 147 109 15 years - 20 years 100 73 20 years+ 515 424 Total $2,550 $2,213 |
Entergy Arkansas [Member] | |
Securities Held | The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $596.7 $354.9 $— $525.4 $281.5 $— Debt Securities 348.2 2.1 3.0 309.3 3.4 4.2 Total $944.9 $357.0 $3.0 $834.7 $284.9 $4.2 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $168.0 $1.2 $— $— $146.7 $4.2 More than 12 months — — 41.4 1.8 — — — — Total $— $— $209.4 $3.0 $— $— $146.7 $4.2 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $13.0 $16.7 1 year - 5 years 123.4 106.2 5 years - 10 years 180.6 161.2 10 years - 15 years 4.8 7.7 15 years - 20 years 3.4 1.0 20 years+ 23.0 16.5 Total $348.2 $309.3 |
Entergy Louisiana [Member] | |
Securities Held | The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $818.3 $461.2 $— $715.9 $346.6 $— Debt Securities 493.8 10.9 3.6 424.8 8.0 5.0 Total $1,312.1 $472.1 $3.6 $1,140.7 $354.6 $5.0 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $135.3 $1.1 $— $— $198.8 $4.8 More than 12 months — — 84.4 2.5 — — 4.8 0.2 Total $— $— $219.7 $3.6 $— $— $203.6 $5.0 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $23.2 $31.4 1 year - 5 years 122.8 99.1 5 years - 10 years 109.3 122.8 10 years - 15 years 52.7 41.4 15 years - 20 years 50.7 30.9 20 years+ 135.1 99.2 Total $493.8 $424.8 |
System Energy [Member] | |
Securities Held | The securities held as of December 31, 2017 and 2016 are summarized as follows: 2017 2016 Fair Value Total Unrealized Gains Total Unrealized Losses Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) Equity Securities $575.2 $308.6 $— $473.9 $221.9 $0.1 Debt Securities 330.5 4.2 1.2 306.6 2.0 4.5 Total $905.7 $312.8 $1.2 $780.5 $223.9 $4.6 |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value | The fair value and gross unrealized losses of available-for-sale equity and debt securities, summarized by investment type and length of time that the securities have been in a continuous loss position, are as follows as of December 31, 2017 and 2016 : 2017 2016 Equity Securities Debt Securities Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $— $— $196.9 $1.0 $— $— $220.9 $4.4 More than 12 months — — 10.4 0.2 — 0.1 0.8 0.1 Total $— $— $207.3 $1.2 $— $0.1 $221.7 $4.5 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of December 31, 2017 and 2016 are as follows: 2017 2016 (In Millions) less than 1 year $4.1 $6.6 1 year - 5 years 173.0 188.2 5 years - 10 years 78.5 78.5 10 years - 15 years 1.0 1.3 15 years - 20 years 6.9 7.8 20 years+ 67.0 24.2 Total $330.5 $306.6 |
Transactions With Affiliates (T
Transactions With Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Entergy Arkansas [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 |
Entergy Louisiana [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— |
Entergy Mississippi [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— |
Entergy New Orleans [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— |
Entergy Texas [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 |
System Energy [Member] | |
Schedule Of Affiliate Transactions | The tables below contain the various affiliate transactions of the Utility operating companies, System Energy, and other Entergy affiliates. Intercompany Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $127.8 $282.4 $1.7 $— $57.9 $633.5 2016 $49.4 $376.6 $2.9 $30.3 $180.2 $548.3 2015 $127.9 $420.2 $86.0 $66.1 $259.1 $632.4 Intercompany Operating Expenses Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Millions) 2017 $510.2 $619.5 $310.5 $286.1 $234.6 $197.0 2016 $467.4 $670.8 $256.5 $276.7 $343.7 $146.0 2015 $508.5 $929.4 $331.8 $278.4 $413.7 $155.1 Intercompany Interest and Investment Income Entergy Louisiana Entergy Mississippi Entergy New Orleans System Energy (In Millions) 2017 $128.0 $— $0.2 $0.9 2016 $127.7 $0.1 $— $0.1 2015 $133.6 $— $— $— |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Quarterly Financial Data | Operating results for the four quarters of 2017 and 2016 for Entergy Corporation and subsidiaries were: Operating Revenues Operating Income (Loss) Consolidated Net Income (Loss) Net Income (Loss) Attributable to Entergy Corporation (In Thousands) 2017: First Quarter $2,588,458 $174,803 $86,051 $82,605 Second Quarter $2,618,550 $143,509 $413,368 $409,922 Third Quarter $3,243,628 $729,469 $401,644 $398,198 Fourth Quarter $2,623,845 $211,901 ($475,710 ) ($479,113 ) 2016: First Quarter $2,609,852 $498,218 $235,242 $229,966 Second Quarter $2,462,562 $442,258 $572,590 $567,314 Third Quarter $3,124,703 $772,060 $393,204 $388,170 Fourth Quarter $2,648,528 ($2,599,001 ) ($1,765,539 ) ($1,769,068 ) Earnings (loss) per average common share 2017 2016 Basic Diluted Basic Diluted First Quarter $0.46 $0.46 $1.29 $1.28 Second Quarter $2.28 $2.27 $3.17 $3.16 Third Quarter $2.22 $2.21 $2.17 $2.16 Fourth Quarter ($2.67 ) ($2.66 ) ($9.89 ) ($9.86 ) |
Entergy Arkansas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Louisiana [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 |
Entergy Mississippi [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy New Orleans [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 Earnings (Loss) Applicable to Common Equity Entergy Arkansas Entergy Mississippi Entergy New Orleans (In Thousands) 2017: First Quarter $13,947 $16,920 $10,737 Second Quarter $38,193 $28,064 $14,641 Third Quarter $92,281 $46,307 $18,288 Fourth Quarter ($6,005 ) $17,788 $46 2016: First Quarter $17,576 $16,411 $10,926 Second Quarter $32,173 $31,487 $11,602 Third Quarter $108,672 $45,905 $23,460 Fourth Quarter $3,521 $12,938 $1,896 |
Entergy Texas [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 |
System Energy [Member] | |
Schedule of Quarterly Financial Data | Operating results for the Registrant Subsidiaries for the four quarters of 2017 and 2016 were: Operating Revenues Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $474,351 $880,783 $258,443 $168,989 $363,927 $154,787 Second Quarter $496,662 $1,083,434 $291,212 $176,222 $378,488 $164,956 Third Quarter $673,226 $1,290,494 $349,197 $199,017 $432,909 $156,106 Fourth Quarter $495,680 $1,045,839 $299,377 $171,842 $369,569 $157,609 2016: First Quarter $465,373 $955,145 $263,046 $149,340 $378,304 $137,693 Second Quarter $504,252 $999,034 $248,138 $164,920 $412,922 $151,323 Third Quarter $654,599 $1,249,452 $309,739 $201,336 $442,085 $114,039 Fourth Quarter $462,384 $973,417 $273,726 $149,867 $382,308 $145,236 Operating Income Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $39,847 $152,648 $39,608 $21,762 $38,842 $41,544 Second Quarter $68,994 $193,779 $55,262 $27,606 $47,787 $40,717 Third Quarter $169,755 $290,089 $84,035 $33,415 $78,950 $37,459 Fourth Quarter $14,507 $210,325 $42,169 $12,333 $33,800 $41,073 2016: First Quarter $54,378 $181,618 $41,573 $21,880 $41,269 $47,466 Second Quarter $73,447 $193,752 $61,890 $26,913 $58,039 $45,020 Third Quarter $188,660 $312,951 $88,312 $42,279 $107,964 $43,886 Fourth Quarter $29,843 $111,066 $32,464 $8,807 $38,338 $44,781 Net Income (Loss) Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) 2017: First Quarter $14,304 $94,378 $17,158 $10,978 $10,854 $20,347 Second Quarter $38,550 $124,479 $28,303 $14,882 $21,101 $19,350 Third Quarter $92,638 $186,284 $46,545 $18,529 $39,588 $20,583 Fourth Quarter ($5,648 ) ($88,794 ) $18,026 $164 $4,630 $18,316 2016: First Quarter $19,294 $111,606 $17,118 $11,167 $14,562 $25,958 Second Quarter $33,891 $253,325 $32,194 $11,843 $24,058 $25,090 Third Quarter $110,148 $189,506 $46,612 $23,701 $56,133 $22,370 Fourth Quarter $3,879 $67,610 $13,260 $2,138 $12,785 $23,326 |
Summary Of Significant Accoun49
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2017USD ($)$ / kWh | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2017USD ($)$ / kWhshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Jan. 01, 2018USD ($) | Sep. 01, 2015USD ($) | |
Adjustment to retained earnings resulting from ASU No. 2016-01 | $ 633,000 | |||||||
Write-off of deferred tax asset resulting from implementation of accounting standard | $ 11,500 | |||||||
Income Tax Expense (Benefit) | $ 542,570 | $ (817,259) | $ (642,927) | |||||
Depreciation rates on average depreciable property | 3.00% | 2.80% | 2.90% | |||||
Depreciation rates on average depreciable utility property | 2.60% | 2.60% | 2.70% | |||||
Depreciation rates on average depreciable non-utility property | 22.30% | 5.20% | 5.40% | |||||
Accumulated depreciation of non-utility property | $ 167,000 | $ 169,000 | ||||||
Construction expenditures in accounts payable | $ 368,000 | $ 253,000 | ||||||
Options outstanding excluded from the calculation of diluted earnings per share | shares | 2,927,512 | 7,137,210 | 7,399,820 | |||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | shares | 200,000 | 0 | 0 | |||||
Asset Retirement Obligations, Noncurrent | $ 6,185,814 | $ 5,992,476 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 357,251 | 2,835,637 | $ 2,104,906 | |||||
Assets, Fair Value Disclosure | 8,414,000 | 7,311,000 | ||||||
Property, Plant and Equipment, Net | 260,980 | 233,641 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372 | 2,835,637 | 2,104,906 | |||||
Decommissioning | 405,685 | 327,425 | 280,272 | |||||
Adjustment to retained earnings resulting from ASU No. 2016-16 | $ 56,000 | |||||||
Expected adjustment to retained earnings and accumulated other comprehensive income resulting from ASU No. 2018-02 | 15,000 | |||||||
Entergy Wholesale Commodities [Member] | ||||||||
Income Tax Expense (Benefit) | (146,480) | (1,192,263) | (610,339) | |||||
Asset Write-Offs, Impairments, And Related Charges | 538,000 | 2,836,000 | ||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 350,000 | 1,829,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372 | 2,835,637 | 2,036,234 | |||||
Entergy Louisiana [Member] | ||||||||
Income Tax Expense (Benefit) | $ 485,298 | $ 89,734 | $ 178,671 | |||||
Depreciation rates on average depreciable property | 2.30% | 2.30% | 2.30% | |||||
Accumulated depreciation of non-utility property | $ 152,300 | $ 154,400 | ||||||
Construction expenditures in accounts payable | $ 160,400 | 114,800 | ||||||
Percentage Interest in River Bend | 30.00% | |||||||
Portion of percentage of interest of River Bend plant costs, generation, revenues and expenses operating the Louisiana retail deregulated portion of River Bend | 15.00% | |||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.046 | |||||||
Limit above which incremental revenue shared between ratepayers and shareholders | $ / kWh | 0.046 | |||||||
Asset Retirement Obligations, Noncurrent | $ 1,140,461 | 1,082,685 | ||||||
Assets, Fair Value Disclosure | 1,643,900 | 1,632,500 | ||||||
Property, Plant and Equipment, Net | 245,255 | 217,494 | ||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000 | |||||||
Decommissioning | 49,457 | 46,944 | $ 43,445 | |||||
Entergy Texas [Member] | ||||||||
Income Tax Expense (Benefit) | $ 48,481 | $ 63,097 | $ 37,250 | |||||
Depreciation rates on average depreciable property | 2.60% | 2.50% | 2.60% | |||||
Accumulated depreciation of non-utility property | $ 4,900 | $ 4,900 | ||||||
Construction expenditures in accounts payable | 32,800 | 9,300 | ||||||
Asset Retirement Obligations, Noncurrent | 6,835 | 6,470 | ||||||
After-Tax Asset Impairment Charge | $ 15,300 | |||||||
Assets, Fair Value Disclosure | 156,600 | 45,600 | ||||||
Property, Plant and Equipment, Net | 376 | 376 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 23,472 | |||||
Entergy Arkansas [Member] | ||||||||
Income Tax Expense (Benefit) | $ 93,804 | $ 107,773 | $ 40,541 | |||||
Depreciation rates on average depreciable property | 2.50% | 2.50% | 2.60% | |||||
Construction expenditures in accounts payable | $ 58,800 | $ 40,900 | ||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01164 | |||||||
Asset Retirement Obligations, Noncurrent | 981,213 | 924,353 | ||||||
Assets, Fair Value Disclosure | 954,000 | 851,300 | ||||||
Decommissioning | 56,860 | 53,610 | $ 50,414 | |||||
Entergy Mississippi [Member] | ||||||||
Income Tax Expense (Benefit) | $ 73,919 | $ 63,854 | $ 61,872 | |||||
Depreciation rates on average depreciable property | 3.10% | 3.10% | 3.20% | |||||
Accumulated depreciation of non-utility property | $ 500 | $ 500 | ||||||
Construction expenditures in accounts payable | 17,100 | 11,500 | ||||||
Asset Retirement Obligations, Noncurrent | 9,219 | 8,722 | ||||||
Assets, Fair Value Disclosure | 38,600 | 114,100 | ||||||
Property, Plant and Equipment, Net | 4,592 | 4,608 | ||||||
Entergy New Orleans [Member] | ||||||||
Income Tax Expense (Benefit) | $ 33,278 | $ 28,705 | $ 25,190 | |||||
Purchase price of net assets that support Algiers customers | $ 85,000 | |||||||
Depreciation rates on average depreciable property | 3.50% | 3.40% | 3.00% | |||||
Construction expenditures in accounts payable | $ 2,500 | $ 2,300 | ||||||
Asset Retirement Obligations, Noncurrent | 3,076 | 2,875 | ||||||
Assets, Fair Value Disclosure | 118,300 | 194,600 | ||||||
Property, Plant and Equipment, Net | 1,016 | 1,016 | ||||||
Payable due Entergy Louisiana | $ 25,500 | |||||||
System Energy [Member] | ||||||||
Income Tax Expense (Benefit) | $ 69,969 | $ 71,061 | $ 53,077 | |||||
Depreciation rates on average depreciable property | 2.80% | 2.80% | 2.80% | |||||
Construction expenditures in accounts payable | $ 33,900 | $ 6,200 | ||||||
Asset Retirement Obligations, Noncurrent | 861,664 | 854,202 | ||||||
Assets, Fair Value Disclosure | 1,192,800 | 1,025,600 | ||||||
Decommissioning | $ 43,347 | 50,797 | $ 47,993 | |||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Carrying Value of Nuclear Plant | $ 742,000 | |||||||
Asset Impairment Charges | 48,000 | |||||||
After-Tax Asset Impairment Charge | 624,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 713,000 | |||||||
Assets, Fair Value Disclosure | 29,000 | |||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 335,000 | |||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000 | |||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 204,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 965,000 | |||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Carrying Value of Nuclear Plant | 718,000 | |||||||
Asset Impairment Charges | 24,000 | |||||||
After-Tax Asset Impairment Charge | 438,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 653,000 | |||||||
Assets, Fair Value Disclosure | 65,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 677,000 | |||||||
Decommissioning | $ 134,000 | |||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Carrying Value of Nuclear Plant | 558,000 | 859,000 | ||||||
Asset Impairment Charges | 48,000 | |||||||
After-Tax Asset Impairment Charge | 258,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 352,000 | 396,000 | ||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 256,000 | |||||||
Assets, Fair Value Disclosure | 206,000 | 463,000 | ||||||
Asset Write-Offs, Impairments, And Related Charges | 400,000 | |||||||
Decommissioning | 129,000 | $ 42,000 | ||||||
Indian Point [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Carrying Value of Nuclear Plant | 2,619,000 | |||||||
Asset Impairment Charges | 157,000 | |||||||
After-Tax Asset Impairment Charge | 1,511,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 2,186,000 | |||||||
Assets, Fair Value Disclosure | 433,000 | |||||||
Asset Write-Offs, Impairments, And Related Charges | 2,343,000 | |||||||
Decommissioning | $ 392,000 |
Summary Of Significant Accoun50
Summary Of Significant Accounting Policies (Schedule Of Net Property, Plant, And Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | $ 5,844,000 | $ 5,226,000 |
Distribution | 8,000,000 | 7,648,000 |
Other | 1,755,000 | 1,636,000 |
Construction work in progress | 1,980,508 | 1,378,180 |
Nuclear fuel | 923,000 | 1,038,000 |
Property, plant and equipment - net | 29,664,360 | 27,921,407 |
Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,650,000 | 1,491,000 |
Distribution | 2,226,000 | 2,144,000 |
Other | 247,000 | 216,000 |
Construction work in progress | 280,888 | 304,073 |
Nuclear fuel | 277,000 | 307,000 |
Property, plant and equipment - net | 6,855,419 | 6,464,316 |
Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 2,148,000 | 1,925,000 |
Distribution | 2,748,000 | 2,632,000 |
Other | 592,000 | 517,000 |
Construction work in progress | 1,281,452 | 670,201 |
Nuclear fuel | 337,000 | 250,000 |
Property, plant and equipment - net | 12,786,242 | 11,499,760 |
Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 900,000 | 740,000 |
Distribution | 1,316,000 | 1,242,000 |
Other | 203,000 | 201,000 |
Construction work in progress | 149,367 | 118,182 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 3,128,483 | 2,838,275 |
Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 81,000 | 79,000 |
Distribution | 440,000 | 414,000 |
Other | 204,000 | 188,000 |
Construction work in progress | 46,993 | 24,975 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 979,313 | 919,492 |
Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 1,021,000 | 943,000 |
Distribution | 1,270,000 | 1,216,000 |
Other | 168,000 | 106,000 |
Construction work in progress | 102,088 | 111,227 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 3,091,996 | 2,859,239 |
System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 42,000 | 45,000 |
Distribution | 0 | 0 |
Other | 39,000 | 25,000 |
Construction work in progress | 69,937 | 43,888 |
Nuclear fuel | 208,000 | 260,000 |
Property, plant and equipment - net | 2,018,562 | 2,157,026 |
Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 5,842,000 | 5,223,000 |
Distribution | 8,000,000 | 7,648,000 |
Other | 1,748,000 | 1,521,000 |
Construction work in progress | 1,951,000 | 1,334,000 |
Nuclear fuel | 822,000 | 817,000 |
Property, plant and equipment - net | 29,175,000 | 27,067,000 |
Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 2,000 | 3,000 |
Distribution | 0 | 0 |
Other | 3,000 | 111,000 |
Construction work in progress | 30,000 | 44,000 |
Nuclear fuel | 101,000 | 221,000 |
Property, plant and equipment - net | 485,000 | 850,000 |
Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Transmission | 0 | 0 |
Distribution | 0 | 0 |
Other | 4,000 | 4,000 |
Construction work in progress | 0 | 0 |
Nuclear fuel | 0 | 0 |
Property, plant and equipment - net | 4,000 | 4,000 |
Nuclear Plant [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 6,946,000 | 6,948,000 |
Nuclear Plant [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,368,000 | 1,201,000 |
Nuclear Plant [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 3,664,000 | 3,540,000 |
Nuclear Plant [Member] | Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Nuclear Plant [Member] | System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,660,000 | 1,783,000 |
Nuclear Plant [Member] | Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 6,694,000 | 6,524,000 |
Nuclear Plant [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 252,000 | 424,000 |
Nuclear Plant [Member] | Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Other Plant In Service [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 4,215,000 | 4,047,000 |
Other Plant In Service [Member] | Entergy Arkansas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 806,000 | 801,000 |
Other Plant In Service [Member] | Entergy Louisiana [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 2,016,000 | 1,966,000 |
Other Plant In Service [Member] | Entergy Mississippi [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 560,000 | 537,000 |
Other Plant In Service [Member] | Entergy New Orleans [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 207,000 | 213,000 |
Other Plant In Service [Member] | Entergy Texas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 531,000 | 483,000 |
Other Plant In Service [Member] | System Energy [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 0 | 0 |
Other Plant In Service [Member] | Utility [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 4,118,000 | 4,000,000 |
Other Plant In Service [Member] | Entergy Wholesale Commodities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 97,000 | 47,000 |
Other Plant In Service [Member] | Parent & Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | $ 0 | $ 0 |
Summary Of Significant Accoun51
Summary Of Significant Accounting Policies (Schedule Of Depreciation Rates On Average Depreciable Property) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation rates on average depreciable property | 3.00% | 2.80% | 2.90% |
Entergy Arkansas [Member] | |||
Depreciation rates on average depreciable property | 2.50% | 2.50% | 2.60% |
Entergy Louisiana [Member] | |||
Depreciation rates on average depreciable property | 2.30% | 2.30% | 2.30% |
Entergy Mississippi [Member] | |||
Depreciation rates on average depreciable property | 3.10% | 3.10% | 3.20% |
Entergy New Orleans [Member] | |||
Depreciation rates on average depreciable property | 3.50% | 3.40% | 3.00% |
Entergy Texas [Member] | |||
Depreciation rates on average depreciable property | 2.60% | 2.50% | 2.60% |
System Energy [Member] | |||
Depreciation rates on average depreciable property | 2.80% | 2.80% | 2.80% |
Summary Of Significant Accoun52
Summary Of Significant Accounting Policies (Schedule Of Subsidiaries' Investment And Accumulated Depreciation In Generating Stations) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($)MW | |
Independence Unit 1 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 836 |
Ownership | 31.50% |
Investment | $ 140 |
Accumulated Depreciation | $ 103 |
Independence Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 15.75% |
Investment | $ 34 |
Accumulated Depreciation | $ 27 |
Independence Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 7.18% |
Investment | $ 17 |
Accumulated Depreciation | $ 12 |
White Bluff Units 1 And 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 1,636 |
Ownership | 57.00% |
Investment | $ 531 |
Accumulated Depreciation | $ 364 |
Ouachita Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 66.67% |
Investment | $ 172 |
Accumulated Depreciation | $ 150 |
Ouachita Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 33.33% |
Investment | $ 90 |
Accumulated Depreciation | $ 75 |
Roy S. Nelson Unit 6 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 40.25% |
Investment | $ 280 |
Accumulated Depreciation | $ 194 |
Roy S. Nelson Unit 6 [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 29.75% |
Investment | $ 200 |
Accumulated Depreciation | $ 114 |
Roy S. Nelson Unit 6 [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 550 |
Ownership | 10.90% |
Investment | $ 113 |
Accumulated Depreciation | $ 62 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 25.79% |
Investment | $ 15 |
Accumulated Depreciation | $ 6 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 14.16% |
Investment | $ 6 |
Accumulated Depreciation | $ 3 |
Roy S. Nelson Unit 6 Common Facilities [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 5.19% |
Investment | $ 2 |
Accumulated Depreciation | $ 1 |
Big Cajun 2 Unit 3 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 574 |
Ownership | 24.15% |
Investment | $ 150 |
Accumulated Depreciation | $ 117 |
Big Cajun 2 Unit 3 [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 574 |
Ownership | 17.85% |
Investment | $ 113 |
Accumulated Depreciation | $ 76 |
Big Cajun 2 Unit 3 Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 8.05% |
Investment | $ 5 |
Accumulated Depreciation | $ 2 |
Big Cajun 2 Unit 3 Common Facilities [Member] | Entergy Texas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Ownership | 5.95% |
Investment | $ 3 |
Accumulated Depreciation | $ 1 |
Acadia Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 20 |
Accumulated Depreciation | $ 0 |
Independence Units 1 And 2 And Common Facilities [Member] | Entergy Mississippi [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 1,678 |
Ownership | 25.00% |
Investment | $ 266 |
Accumulated Depreciation | $ 156 |
Grand Gulf Unit 1 [Member] | System Energy [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Nuclear |
Total Megawatt Capability | MW | 1,414 |
Ownership | 90.00% |
Investment | $ 4,916 |
Accumulated Depreciation | $ 3,175 |
Independence Unit 2 [Member] | Entergy Wholesale Commodities [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Coal |
Total Megawatt Capability | MW | 842 |
Ownership | 14.37% |
Investment | $ 73 |
Accumulated Depreciation | $ 50 |
Ouachita Units 1 and 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Ouachita Unit 3 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Units 1 and 2 Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 1 |
Accumulated Depreciation | $ 0 |
Union Units 1 and 2 Common Facilities [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 1 |
Accumulated Depreciation | $ 0 |
Union Common Facilities [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 25.00% |
Investment | $ 28 |
Accumulated Depreciation | $ 3 |
Union Common Facilities [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 50.00% |
Investment | $ 55 |
Accumulated Depreciation | $ 3 |
Union Common Facilities [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Plant Fuel Type | Gas |
Ownership | 25.00% |
Investment | $ 28 |
Accumulated Depreciation | $ 3 |
Union Unit 1 [Member] | Entergy New Orleans [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Unit 2 [Member] | Entergy Arkansas [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Union Units 3 and 4 [Member] | Entergy Louisiana [Member] | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership | 100.00% |
Summary Of Significant Accoun53
Summary Of Significant Accounting Policies (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic earnings per share | |||||||||||
Net income (loss) attributable to Entergy Corporation | $ (479,113) | $ 398,198 | $ 409,922 | $ 82,605 | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | $ 411,612 | $ (583,618) | $ (176,562) |
Net Income Attributable to Entergy Corporation, Shares | 179,671,797 | 178,885,660 | 179,176,356 | ||||||||
Basic earnings per share (in usd per share) | $ (2.67) | $ 2.22 | $ 2.28 | $ 0.46 | $ (9.89) | $ 2.17 | $ 3.17 | $ 1.29 | $ 2.29 | $ (3.26) | $ (0.99) |
Average dilutive effect of: | |||||||||||
Stock options, Shares | 200,000 | 0 | 0 | ||||||||
Stock options $/share | $ 0 | $ 0 | $ 0 | ||||||||
Average Dilutive Effect Of Restricted Stock Shares | 600,000 | 0 | 0 | ||||||||
Average Dilutive Effect Of Restricted Stock Per Share | $ (0.01) | $ 0 | $ 0 | ||||||||
Diluted earnings per share, Shares | 180,535,893 | 178,885,660 | 179,176,356 | ||||||||
Diluted earnings per share (in usd per share) | $ (2.66) | $ 2.21 | $ 2.27 | $ 0.46 | $ (9.86) | $ 2.16 | $ 3.16 | $ 1.28 | $ 2.28 | $ (3.26) | $ (0.99) |
Summary Of Significant Accoun54
Summary Of Significant Accounting Policies (Significant Unobservable Inputs in Asset Valuation) (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.90% | |
Operating Margin Used In Asset Valuation | 8.10% | |
Pilgrim [Member] | Minimum [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 2.40% | |
Pilgrim [Member] | Maximum [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 8.00% | |
Operating Margin Used In Asset Valuation | 10.60% | |
FitzPatrick [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 10.20% | |
Palisades [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 6.50% | 7.50% |
Operating Margin Used In Asset Valuation | 34.60% | 30.80% |
Palisades [Member] | Minimum [Member] | ||
Operating Margin Used In Asset Valuation | 17.80% | |
Palisades [Member] | Maximum [Member] | ||
Operating Margin Used In Asset Valuation | 38.80% |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) | Jan. 01, 2018USD ($) | Sep. 01, 2015USD ($) | Mar. 31, 2018USD ($) | Feb. 28, 2018USD ($) | Dec. 31, 2017USD ($) | Nov. 30, 2017USD ($) | Oct. 31, 2017USD ($) | Aug. 31, 2017 | Jul. 31, 2017USD ($) | Jun. 30, 2017USD ($) | May 31, 2017USD ($) | Apr. 30, 2017USD ($) | Mar. 31, 2017$ / kWh | Jan. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Nov. 30, 2016USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jul. 31, 2016USD ($) | Jun. 30, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Feb. 29, 2016USD ($) | Jan. 31, 2016 | Dec. 31, 2015USD ($) | Nov. 30, 2015USD ($) | Oct. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Aug. 31, 2015USD ($) | Jul. 31, 2015USD ($) | May 31, 2015USD ($) | Apr. 30, 2015USD ($) | Jan. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Aug. 31, 2014USD ($)$ / unitshares | Jul. 31, 2014USD ($) | Jun. 30, 2014USD ($) | May 31, 2014USD ($) | Jan. 31, 2014USD ($) | Aug. 30, 2013 | Jan. 31, 2013USD ($) | Nov. 30, 2012 | Sep. 30, 2012USD ($) | Apr. 30, 2012USD ($) | Feb. 29, 2012USD ($)shares | Nov. 30, 2011USD ($) | Jul. 31, 2010USD ($)$ / unitshares | Jun. 30, 2010USD ($) | Aug. 31, 2008USD ($)$ / unitshares | Jul. 31, 2008USD ($)shares | Apr. 30, 2007USD ($) | Jun. 30, 2005 | Feb. 28, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($)$ / kWh | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2010USD ($) | Dec. 31, 2008USD ($) | Dec. 31, 2020USD ($) | Mar. 31, 2016USD ($) | Nov. 01, 2017USD ($) | Apr. 30, 2014USD ($) | Apr. 30, 2010USD ($) | Aug. 26, 2008USD ($) | Jul. 29, 2008USD ($) | Apr. 30, 2008USD ($) |
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 357,251,000 | $ 2,835,637,000 | $ 2,104,906,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | (16,762,000) | (949,329,000) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372,000 | 2,835,637,000 | 2,104,906,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 3,423,689,000 | 3,296,711,000 | 3,354,981,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 967,923,000 | (1,381,762,000) | (799,661,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | $ 95,746,000 | $ 108,465,000 | $ 108,465,000 | 95,746,000 | 108,465,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 2,915,795,000 | 158,031,000 | 61,241,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease in estimated costs at completion for Ninemile 6 project | $ 76,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | $ 35,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan for reduction in MISO cost recovery mechanism | $ 40,500,000 | $ 5,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds loaned by LCDA to LURC under Louisiana Act 55 financing | $ 309,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual customer credits | $ 6,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LCDA issuance of bonds under Louisiana Act 55 financing | 314,850,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfered to restricted escrow account as storm damage reserve | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ 0 | (474,670,000) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.95% | 9.84% | 9.07% | 9.09% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to decrease additional capacity mechanism | $ 17,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Project and Replacement Power Cost Disallowances | $ 2,000,000 | $ 71,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Charges Related to Waterford 3 Steam Generator Project | $ 77,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Project and Replacement Power Cost Disallowances | $ 141,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Disallowance of Capital Costs | 67,000,000 | 67,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Write-Off of Waterford 3 Replacement Steam Generator | 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Charge Recorded Due to Probability of Non-Recovery Per ALJ Recommendation | 32,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Revenue Requirement Implemented for Ninemile 6 | 51,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated costs at completion for Ninemile 6 project | 648,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | $ 71,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to Customers Credited Through Formula Rate Plan | 68,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 148,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 969,400,000 | 923,779,000 | 997,546,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ 801,645,000 | 711,781,000 | 625,310,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund to customers per LPSC Staff January 2013 audit report | $ 1,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realignment of the recovery from Entergy Louisiana's fuel adjustment clause to base rates per LPSC January 2013 audit report | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Legacy Formula Rate Plan | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred External Costs Associated with Business Combination | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum customer benefits | $ 30,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond proceeds transfered to company under Louisiana Act 55 financing | 293,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 474,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Benefits Anticipated with Business Combination Per Stipulated Settlement with LPSC | 107,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upper Limit on Rates | 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated nominal benefit to Customers Anticipated with AMI Deployment | $ 607,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC staff recommended fuel adjustment clause refund including interest | $ 3,000,000 | 8,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Previously Recorded Provision For Refund to Customers Due to Waterford 3 Steam Generator Project Settlement | 48,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Charge Due to Waterford 3 Steam Generator Project Settlement | 23,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC previously recommended disallowance of portion of refund to customers | $ 3,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to decrease Legacy Entergy Gulf States Louisiana revenues due to effect of system agreement termination | $ 58,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan for increase in MISO cost recovery mechanism | 11,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 92,000,000 | 92,000,000 | 92,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 330,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Louisiana additional capacity mechanism | 14,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Louisiana revenues due to effects of system agreement termination | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Gulf States Louisiana additional capacity mechanism | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.046 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease | $ 16,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease resulting from legacy Entergy Louisiana revenue | 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease resulting from legacy Entergy Gulf States Louisiana revenue | 9,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Formula rate plan revenue decrease resulting from incremental revenue | 3,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current MISO formula rate plan cost recovery | $ 46,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced proposed MISO formula rate plan cost recovery | 6,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings bandwidth basis points | 16000.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced earnings bandwidth basis points | 8000.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 605,453,000 | 62,351,000 | 96,234,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction to Louisiana Act 55 financing savings obligation regulatory liability due to Tax Cuts and Jobs Act | 22,300,000 | 22,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum amount of benefits committed to pass on to the customers | $ 40,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospective Annual rate reductions for five years | $ 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 687,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | $ 152,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 527,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 679,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 545,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 5,449,861.85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount withdrawn from restricted escrow account as approved by units of wholly owned subsidiary | $ 17,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Louisiana [Member] | Hurricane Gustav and Ike [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction to Louisiana Act 55 financing savings obligation regulatory liability due to Tax Cuts and Jobs Act | 2,700,000 | $ 2,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum amount of benefits committed to pass on to the customers | $ 43,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prospective Annual rate reductions for five years | $ 8,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 713,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | 290,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 412,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 702,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 412,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 4,126,940.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 9.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | $ 19,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in expenses to be collected through ad valorem tax adjustment rider | $ 4,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in Annual Funding for Storm Reserve | $ 1,750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized Storm Damage Reserve Balance | 15,000,000 | 15,000,000 | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance At Which Storm Damage Accrual Will Return To Current Level | $ 10,000,000 | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Upper limit not exceeded for storm accrual balance | $ 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Storm Reserve Accrual Hurricane Isaac | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 243,480,000 | 250,443,000 | 261,255,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 183,951,000 | 173,038,000 | 154,580,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 32,444,000 | 6,957,000 | 6,957,000 | 32,444,000 | 6,957,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 32,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Over-Recovery Balance | $ 58,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under-Recovery Under Power Management Rider | 12,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Over-Recovery of Rider Revenues | 46,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Over-Recovery Energy Cost Recovery Rider | 2,000,000 | $ 68,000,000 | $ 48,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected under-recovery Energy Cost Recovery Rider | $ 61,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated nominal benefit to Customers Anticipated with AMI Deployment | 496,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | 183,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 56,000,000 | 56,000,000 | 56,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 32,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 23,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 132,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 405,395,000 | (2,986,000) | 9,172,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power blocks | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to formula rate plan to increase additional capacity mechanism | 4,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Revenue Requirement Implemented for Ninemile 6 | $ 26,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A preferred membership units sold to third party | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds From Sale of Preferred Membership Units | $ 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Base Purchase Price Union Power Station Power Block | $ 237,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LPSC approval of recovery of refund previously made to customers regarding dry cask storage | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of LPSC Recommended Realignment of Fuel Cost Recovery to Base Rates | 12,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Gulf States Louisiana [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bond issued by LCDA | $ 278,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount transfer to restricted escrow account as storm damage reserve by corporation | $ 87,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Transferred to Entergy Louisiana | 187,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from loan by LCDA to corporation LURC | 274,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount used to acquire membership interest units in wholly owned Subsidiary | $ 189,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 1,893,918.39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount withdrawn from restricted escrow account as approved by units of wholly owned subsidiary | $ 1,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ 0 | (237,335,000) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Contract for Purchase of Electric Power, Share of Plant Output Being Purchased | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount included in electric rates per year to fund the smart energy efficiency programs as per rate case settlement | $ 3,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart 2 Project Costs | 12,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | 98,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Replenishment amount for storm reserve spending | 63,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount authorized for storm reserve | 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 109,270,000 | 117,471,000 | 119,087,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 77,831,000 | 77,554,000 | 70,115,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 0 | 4,818,000 | 4,818,000 | 0 | 4,818,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price of net assets that support Algiers customers | $ 85,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of long-term payable due to Entergy Louisiana | (59,600,000) | (2,104,000) | (4,973,000) | (59,610,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payable due Entergy Louisiana | 25,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hurricane Isaac Storm Restoration Costs Approved as Recoverable from Electric Customers | 31,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized monthly customer credits | 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monthly customer credits | $ 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Smart Program Funding | $ 11,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits in current year | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits in first quarter of year after transaction closes | 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits per month in second year after transaction closes | 117,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum average fuel adjustment charge billed to customers | $ 0.035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | $ 101,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | $ 21,000,000 | 21,000,000 | 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 75,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | $ 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Call Premium on Preferred Stock | 819,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | 110,147,000 | (3,997,000) | (7,359,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Under-recovered fuel balance | $ 8,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments | $ 10,900,000 | $ 10,900,000 | 15,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Request filed for refund of fuel cost recovery over collections | 30,500,000 | $ 30,700,000 | 41,800,000 | $ 24,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.60% | 9.60% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested increase in retail revenues per request for annual distribution cost recovery factor rider | $ 6,500,000 | $ 19,000,000 | 10,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 28,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase In Base Rate Reflecting Return On Common Equity | $ 112,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 23,472,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After-Tax Asset Impairment Charge | 15,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Refund To Customers | $ 68,000,000 | 56,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended Increase in Rate Base | $ 66,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revised Increase In Rate Base Request | $ 105,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MISO transition expenses in base rates per PUCT | $ 1,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction of fuel reconciliation recovery due to disagreement with line loss factor in calculation per PUCT | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory charge recorded due to probability of non-recovery per PUCT order | $ 24,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 230,616,000 | 220,566,000 | 254,731,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 124,654,000 | 170,635,000 | 106,875,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 29,500,000 | 13,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Receipts | $ 48,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in approved retail rate increase | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intervenor Recommended Disallowance Due to Load Growth Adjustment | 3,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Refund Related to Calendar Year 2006-2008 Production Costs | $ 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jurisdictional eligible fuel and purchased power expenses, net of credits | $ 1,770,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated deferred fuel over recovery balance for reconciliation period | 19,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unspecific disallowance associated with settlement agreement | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Over-Recovery Balance | $ 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | 33,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | 41,000,000 | 41,000,000 | 41,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 29,500,000 | 13,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 10,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized collection through TCRF rider | 29,500,000 | 10,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | 132,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 410,968,000 | 2,106,000 | 1,271,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amended annual revenue requirement from distribution cost recovery factor rider | $ 18,300,000 | $ 8,650,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Texas [Member] | Hurricane Rita [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing order authorized to issue storm cost recovery bonds | $ 353,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redetermination Of Production Cost Allocation Rider Unrecovered Retail Balance | 1,900,000 | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments | $ 38,000,000 | $ 67,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production Cost Allocation Rider Under-recovered Retail Balance Approved for Recovery | 300,000 | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Agreement Bandwidth Remedy Payments Approved for Recovery | $ 1,900,000 | 67,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit resulting from compliance filing pursuant to September 2016 FERC order | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Incremental Fuel and Replacement Energy Costs | $ 65,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Other Property, Plant, and Equipment | $ 0 | (237,323,000) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.75% | 10.20% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis Point Bandwidth | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 225,000,000 | $ 268,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount Collected From Customers | $ 156,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction In Amount Of Damages That Should Be Paid By Entergy Arkansas To Utility Operating Companies | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | 707,825,000 | 706,573,000 | 734,118,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 233,648,000 | 274,985,000 | 114,813,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Fuel Cost | 63,302,000 | 96,690,000 | $ 96,690,000 | 63,302,000 | 96,690,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 67,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Total Hurricane Isaac Storm Restoration Costs | 49,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in revenues per joint stipulation entered into with MPSC | 133,000,000 | $ 167,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and Intervener Recommended Revenue Requirement | $ 217,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APSC and Intervener Recommended Return on Equity | 9.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated nominal benefit to Customers Anticipated with AMI Deployment | 406,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in approved retail rate increase | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post-Fukushima Compliance Costs | 7,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flood Barrier Compliance Costs | 9,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interim Base Rate Adjustment Surcharge Recovery | 21,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | 54,400,000 | $ 54,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Projected Increase in Revenue Requirement | $ 0 | $ 129,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion of Approved Revenue Requirement Increase Subject to Possible Future Adjustment and Refund to Customers | $ 25,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | $ 57,000,000 | $ 57,000,000 | 57,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 67,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated implementation costs for advanced metering infrastructure (AMI) | $ 208,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of Preferred Equity | 32,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ALJ Recommended Percentage By Which Payments Be Reduced | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments due Utility Operating Companies Related to Opportunity Sales Proceedings | $ 86,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liability Recorded Related to Estimated Payments Due Utility Operating Companies | 35,000,000 | 87,000,000 | 35,000,000 | 87,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Asset Recorded to Represent Estimate of Recoverable Retail Portion of Costs | 31,000,000 | 75,000,000 | 31,000,000 | $ 75,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in Rate At Which Electricity Sold To Retail Customers | $ / kWh | 0.01547 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 1,043,507,000 | 62,994,000 | (11,123,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual revenue constraint per rate class percentage | 400.00% | 400.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced proposed increase in revenue requirement to comply with annual revenue constraint | 71,100,000 | $ 71,100,000 | $ 70,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits due to internal restructuring | $ 66,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 10.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments from utility operating companies as percentage of average production cost | 11.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operation and maintenance expense | $ 213,534,000 | 153,064,000 | 156,552,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before income taxes | 148,565,000 | 167,805,000 | 164,395,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | 331,251,000 | $ 33,438,000 | $ (33,686,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Entergy Holdings Company LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class preferred, non-voting, membership interest units | shares | 2,935,152.69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual distribution rate | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidation price per unit | $ / unit | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net worth required under terms of membership interest | $ 1,750,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | System Energy [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 8.67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 6.37% | 10.22% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended recovery of previously deferred operation and maintenance expenses | 900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 1,200,000 | $ 1,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Requested Recovery of Previously Deferred Operation and Maintenance Expenses | $ 1,400,000 | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gas [Member] | Entergy Gulf States Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved Recovery Through Rider Revenues | $ 65,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment to rider revenue requirement required if earnings exceed stated rate | 10.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Range of Adherence to a Specified Spending Plan | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual Versus Planned Rider Spending Variance | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate increase | $ 706,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Authorized return on common equity | 7.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recommended adjustment to earned return on equity | 7.24% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in revenues per joint stipulation entered into with MPSC | $ 688,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Regulatory Assets | 35,800,000 | $ 35,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum average fuel adjustment charge billed to customers | $ 0.03060 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual customer credits | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum average fuel adjustment charge billed to customers | 0.035323 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate reduction | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proposed customer credits due to internal restructuring | $ 39,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Entergy New Orleans Algiers Customers [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum average fuel adjustment charge billed to customers | 0.025446 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Gas [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earned return on common equity | 9.06% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Electric Transmission [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum average fuel adjustment charge billed to customers | $ 0.034609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vidalia Purchased Power Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | (30,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Louisiana Act 55 Financing Obligation [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (25,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Union Power Station [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Union Power Station [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 474,670,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Union Power Station [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Base Purchase Price Union Power Station Power Block | $ 237,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | 237,335,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Union Power Station [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 237,323,000 |
Rate And Regulatory Matters (De
Rate And Regulatory Matters (Details Of Other Regulatory Assets Included In Entergy Corporation And Subsidiaries) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | $ 4,935,689 | $ 4,769,913 | |
Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 1,567,437 | 1,428,029 | |
Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 1,145,842 | 1,168,058 | |
Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 397,909 | 342,213 | |
Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 251,433 | 268,106 | |
Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 661,398 | 740,156 | |
System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 444,327 | 411,212 | |
Asset Retirement Obligation [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 746,000 | 677,200 |
Asset Retirement Obligation [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 345,200 | 322,900 |
Asset Retirement Obligation [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 218,600 | 199,400 |
Asset Retirement Obligation [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 7,600 | 7,200 |
Asset Retirement Obligation [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 4,300 | 4,200 |
Asset Retirement Obligation [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 169,100 | 142,500 |
Pension And Post Retirement Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 2,642,300 | 2,635,500 |
Pension And Post Retirement Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 757,000 | 786,600 |
Pension And Post Retirement Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 724,600 | 715,700 |
Pension And Post Retirement Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 218,700 | 217,200 |
Pension And Post Retirement Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 102,800 | 108,800 |
Pension And Post Retirement Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 169,200 | 201,700 |
Pension And Post Retirement Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 202,700 | 193,500 |
Provision For Storm Damages, Including Hurricane Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 558,900 | 637,000 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 76,200 | 88,900 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 14,300 | 0 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 82,300 | 93,600 | |
Provision For Storm Damages, Including Hurricane Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 386,100 | 442,400 | |
Removal Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 436,500 | 353,900 |
Removal Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 176,900 | 128,500 |
Removal Costs [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 91,600 | 82,000 |
Removal Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 44,800 | 40,100 |
Removal Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 55,200 | 33,500 |
Removal Costs [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [1] | 67,900 | 69,700 |
River Bend AFUDC [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 12,900 | 14,800 | |
Business Combination External Costs Deferral [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 14,100 | 15,200 |
Nuclear Generation Development Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 36,400 | 43,700 |
Nuclear Generation Development Costs [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 35,800 | 43,100 |
Rate Case Costs [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 2,600 | 3,000 | |
Little Gypsy Cost Proceeding [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 73,700 | 100,000 | |
Little Gypsy Cost Proceeding [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 71,400 | 97,800 | |
Transition to Competition Costs [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 37,700 | 47,900 | |
Transition to Competition Costs [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 37,700 | 47,900 | |
Regulatory Clause Revenues, under-recovered [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 86,400 | 22,100 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 28,200 | 10,100 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 49,400 | 9,300 | |
Regulatory Clause Revenues, under-recovered [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 4,400 | 4,300 | |
Incremental Ice Storm Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 7,400 | 7,900 | |
Michoud Plant Maintenance [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 1,400 | 3,300 | |
Human Capital Management Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 4,400 | 7,000 |
Lake Catherine 4 Reliability and Sustainability Cost Deferral [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 8,900 | 9,800 |
Unamortized Loss on Reacquired Debt [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 82,900 | 91,400 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 24,300 | 27,600 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 24,700 | 27,000 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 17,600 | 18,900 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 3,000 | 3,400 | |
Unamortized Loss on Reacquired Debt [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 8,700 | 9,000 | |
Unamortized Loss on Reacquired Debt [Member] | System Energy [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 4,600 | 5,500 | |
MISO Costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 5,500 | 11,100 |
ANO Fukushima and Flood Barrier costs [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | [2] | 14,400 | 16,100 |
Opportunity Sales [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 109,800 | 0 | |
Opportunity Sales [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 109,800 | 0 | |
Other Regulatory Assets (Liabilities) [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 125,100 | 161,200 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Arkansas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 9,200 | 11,500 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Louisiana [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 29,400 | 55,100 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Mississippi [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 13,000 | 7,600 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy New Orleans [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | 5,800 | 7,400 | |
Other Regulatory Assets (Liabilities) [Member] | Entergy Texas [Member] | |||
Details of Other regulatory assets [Abstract] | |||
Regulatory Assets, Noncurrent | $ 4,500 | $ 5,700 | |
[1] | Does not earn a return on investment, but is offset by related liabilities. | ||
[2] | Does not earn a return on investment. |
Rate And Regulatory Matters Rat
Rate And Regulatory Matters Rate and Regulatory Matters (Details of Other Regulatory Liabilities Included in Entergy Corporation and Subsidiaries) (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2015 | |
Regulatory Liabilities [Line Items] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||||
Regulatory Liability, Noncurrent | $ 1,588,520 | $ 1,588,520 | $ 1,572,929 | $ 107,000 | |||
Increase (Decrease) in Regulatory Liabilities | (2,915,795) | (158,031) | $ (61,241) | ||||
Waterford 3 Steam Generator Replacement Cost Refund [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 0 | 0 | 68,000 | ||||
Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 989,300 | 989,300 | 735,500 | |||
Asset Retirement Obligation Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 36,700 | 36,700 | 32,700 | |||
Vidalia Purchased Power Agreement [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [2] | 151,600 | 151,600 | 202,400 | |||
Increase (Decrease) in Regulatory Liabilities | 30,500 | ||||||
Entergy Arkansas’s Accumulated Accelerated Grand Gulf Amortization [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 44,400 | 44,400 | 44,400 | ||||
Other Regulatory Assets (Liabilities) [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 43,500 | 43,500 | 79,800 | ||||
Removal Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 32,400 | 32,400 | 53,900 | |||
Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 32,100 | 32,100 | 39,300 | ||||
Grand Gulf Sale Leaseback [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 67,900 | 67,900 | 67,900 | ||||
Business Combination Guaranteed Customer Benefits [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 65,800 | 65,800 | 83,500 | ||||
Louisiana Act 55 Financing Obligation [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [2] | 124,800 | 124,800 | 165,500 | |||
Increase (Decrease) in Regulatory Liabilities | 25,000 | ||||||
Entergy Arkansas [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 363,591 | 363,591 | 305,907 | ||||
Increase (Decrease) in Regulatory Liabilities | (1,043,507) | (62,994) | 11,123 | ||||
Entergy Arkansas [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 354,000 | 354,000 | 280,800 | |||
Entergy Arkansas [Member] | Other Regulatory Assets (Liabilities) [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 9,600 | 9,600 | 25,100 | ||||
Entergy Louisiana [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 761,059 | 761,059 | 880,974 | ||||
Increase (Decrease) in Regulatory Liabilities | (605,453) | (62,351) | (96,234) | ||||
Entergy Louisiana [Member] | Waterford 3 Steam Generator Replacement Cost Refund [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 0 | 0 | 68,000 | ||||
Entergy Louisiana [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 323,700 | 323,700 | 235,400 | |||
Entergy Louisiana [Member] | Asset Retirement Obligation Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 36,700 | 36,700 | 32,700 | |||
Entergy Louisiana [Member] | Vidalia Purchased Power Agreement [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [2] | 151,600 | 151,600 | 202,400 | |||
Entergy Louisiana [Member] | Other Regulatory Assets (Liabilities) [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 26,100 | 26,100 | 28,700 | ||||
Entergy Louisiana [Member] | Removal Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 32,400 | 32,400 | 53,900 | |||
Entergy Louisiana [Member] | Business Combination Guaranteed Customer Benefits [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 65,800 | 65,800 | 83,500 | ||||
Entergy Louisiana [Member] | Louisiana Act 55 Financing Obligation [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [2] | 124,800 | 124,800 | 165,500 | |||
Entergy Louisiana [Member] | Gas Hedging Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 0 | 0 | 10,900 | ||||
Entergy Mississippi [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | (405,395) | 2,986 | (9,172) | ||||
Entergy New Orleans [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | (110,147) | 3,997 | 7,359 | ||||
Entergy Texas [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 6,850 | 6,850 | 8,502 | ||||
Increase (Decrease) in Regulatory Liabilities | (410,968) | (2,106) | (1,271) | ||||
Entergy Texas [Member] | Transition to Competition Costs [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 4,800 | 4,800 | 6,200 | ||||
Entergy Texas [Member] | Other Regulatory Assets (Liabilities) [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 2,100 | 2,100 | 2,300 | ||||
System Energy [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 455,991 | 455,991 | 370,862 | ||||
Increase (Decrease) in Regulatory Liabilities | (331,251) | (33,438) | $ 33,686 | ||||
System Energy [Member] | Unrealized Gain on Nuclear Decommissioning Trust Funds [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | [1] | 311,600 | 311,600 | 219,300 | |||
System Energy [Member] | Entergy Arkansas’s Accumulated Accelerated Grand Gulf Amortization [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 44,400 | 44,400 | 44,400 | ||||
System Energy [Member] | Entergy Mississippi’s accumulated accelerated Grand Gulf amortization [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | 32,100 | 32,100 | 39,300 | ||||
System Energy [Member] | Grand Gulf Sale Leaseback [Member] | |||||||
Regulatory Liabilities [Line Items] | |||||||
Regulatory Liability, Noncurrent | $ 67,900 | $ 67,900 | $ 67,900 | ||||
[1] | (a)Offset by related asset. | ||||||
[2] | (b)As a result of the enactment of the Tax Cuts and Jobs Act, in December 2017, and the lowering of the federal corporate income tax rate from 35% to 21% effective January 2018, the Vidalia purchased power agreement regulatory liability was reduced by $30.5 million and the Louisiana Act 55 financing savings obligation regulatory liabilities were reduced by $25.0 million, with corresponding increases to Other regulatory credits on the income statement. The effects of the Tax Cuts and Jobs Act are discussed further in Note 3 to the financial statements. |
Rate And Regulatory Matters (Fu
Rate And Regulatory Matters (Fuel And Purchased Power Cost Recovery) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Entergy Arkansas [Member] | ||
Deferred fuel costs | $ 130.4 | $ 163.6 |
Deferred fuel cost noncurrent | 67.1 | 66.9 |
Entergy Louisiana [Member] | ||
Deferred fuel costs | 96.7 | 119.9 |
Deferred fuel cost noncurrent | 168.1 | 168.1 |
Entergy Mississippi [Member] | ||
Deferred fuel costs | 32.4 | 7 |
Entergy New Orleans [Member] | ||
Deferred fuel costs | (3.7) | 8.9 |
Deferred fuel cost noncurrent | 4.1 | 4.1 |
Entergy Texas [Member] | ||
Deferred fuel costs | $ (67.3) | $ (54.5) |
Rate And Regulatory Matters (Pa
Rate And Regulatory Matters (Payments/Receipts Among The Utility Operating Companies) (Details) - USD ($) $ in Millions | 1 Months Ended | |||||||||
May 31, 2014 | Dec. 31, 2011 | Feb. 29, 2016 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | |
Entergy Arkansas [Member] | ||||||||||
Regulatory Assets [Line Items] | ||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | $ 68 | $ 156 | ||||||||
Payments (receipts) based on production costs | 77 | $ 2 | $ 0 | $ 0 | $ 41 | $ 41 | $ 390 | $ 252 | $ 252 | |
Entergy Louisiana [Member] | ||||||||||
Regulatory Assets [Line Items] | ||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | (10) | (75) | ||||||||
Payments (receipts) based on production costs | (12) | 6 | 0 | 0 | (41) | (22) | (247) | (160) | (211) | |
Entergy Mississippi [Member] | ||||||||||
Regulatory Assets [Line Items] | ||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | (11) | (33) | ||||||||
Payments (receipts) based on production costs | (40) | (4) | 0 | 0 | 0 | (19) | (24) | (20) | (41) | |
Entergy New Orleans [Member] | ||||||||||
Regulatory Assets [Line Items] | ||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | 2 | (5) | ||||||||
Payments (receipts) based on production costs | (25) | (1) | (15) | (15) | 0 | 0 | 0 | (7) | 0 | |
Entergy Texas [Member] | ||||||||||
Regulatory Assets [Line Items] | ||||||||||
Net payments or receipts among utility operating companies pursuant to FERC order | $ (49) | (43) | ||||||||
Payments (receipts) based on production costs | $ 0 | $ (3) | $ 15 | $ 15 | $ 0 | $ 0 | $ (119) | $ (65) | $ (30) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | Jan. 01, 2018 | Aug. 31, 2015 | Aug. 31, 2008 | Jul. 31, 2008 | Mar. 31, 2015 | Dec. 31, 2009 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2012 | Dec. 31, 2010 | Mar. 31, 2017 | Jun. 30, 2016 | Oct. 31, 2015 |
Income Taxes [Line Items] | ||||||||||||||
Reduction in taxable income relating to 2009 CAM settlement | $ 5,700,000,000 | |||||||||||||
Valuation allowance on the deferred tax assets related to state net operating loss carryovers | $ 106,000,000 | $ 62,000,000 | ||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 1,462,000,000 | 1,240,000,000 | $ 955,000,000 | $ 63,500,000 | ||||||||||
Remaining balances of unrecognized tax benefits, effective income tax rates | 3,410,000,000 | 2,670,000,000 | 1,657,000,000 | |||||||||||
Accrued income tax interest and penalties | 38,000,000 | 30,000,000 | 27,000,000 | |||||||||||
Adjustment 2009 CAM | $ 9,300,000,000 | |||||||||||||
Deferred Income Taxes and Tax Credits | 529,053,000 | (836,257,000) | (820,350,000) | |||||||||||
Deferred Tax Assets, Valuation Allowance | 137,283,000 | 104,277,000 | ||||||||||||
Income tax benefit resulting from 2006-2007 audit | $ 20,000,000 | |||||||||||||
Tax Deduction Related to Nuclear Decommissioning Tax Liability | $ 118,000,000 | |||||||||||||
Increase to 2009 Federal Income Tax Liability | $ 2,400,000 | |||||||||||||
Other | 0 | 0 | 333,655,000 | |||||||||||
Regulatory Liability, Noncurrent | $ 1,588,520,000 | 1,572,929,000 | $ 107,000,000 | |||||||||||
Regulatory Liability Net Of Tax | $ 66,000,000 | |||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | ||||||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | $ 373,277,000 | 237,760,000 | 0 | |||||||||||
Valuation allowances on deferred tax assets related to state jurisdictions | 31,000,000 | 42,300,000 | ||||||||||||
Effective Income Tax Rate Reconciliation, Fitzpatrick Disposition, Amount | 44,344,000 | 0 | 0 | |||||||||||
Annual Limit on Deduction for Compensation of Certain Covered Employees | $ 1,000,000 | |||||||||||||
Regulatory Liability For Income Taxes Net | 2,900,204,000 | 0 | ||||||||||||
Limit on Annual Net Operating Loss as a Percent of Annual Taxable Income | 80.00% | |||||||||||||
Net Decrease in Deferred Tax Assets Related to Excess ADIT | 560,000,000 | |||||||||||||
Write-off of deferred tax asset resulting from implementation of accounting standard | $ 11,500,000 | |||||||||||||
Entergy Arkansas [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 2,600,000 | 3,600,000 | 4,500,000 | |||||||||||
Accrued income tax interest and penalties | 1,600,000 | 1,400,000 | 1,300,000 | |||||||||||
Deferred Income Taxes and Tax Credits | 67,711,000 | 201,219,000 | (4,330,000) | |||||||||||
Income tax benefit resulting from 2006-2007 audit | 4,000,000 | |||||||||||||
Regulatory Liability, Noncurrent | 363,591,000 | 305,907,000 | ||||||||||||
Regulatory Liability For Income Taxes Net | 985,823,000 | 0 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 554,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 467,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | 3,000,000 | |||||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 575,800,000 | 473,300,000 | 692,700,000 | 61,600,000 | ||||||||||
Accrued income tax interest and penalties | 14,100,000 | 8,400,000 | 9,300,000 | |||||||||||
Regulatory Liabilities | 32,400,000 | 53,900,000 | 16,100,000 | |||||||||||
Proceeds from LURC | $ 148,600,000 | |||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 148,600,000 | |||||||||||||
Deferred Income Taxes and Tax Credits | 575,804,000 | 178,549,000 | 97,461,000 | |||||||||||
Income tax benefit resulting from 2006-2007 audit | 11,000,000 | |||||||||||||
Regulatory Liability, Noncurrent | 761,059,000 | 880,974,000 | ||||||||||||
Regulatory Liability Net Of Tax | 9,900,000 | |||||||||||||
Unrecognized Tax Benefits Impacting Effective Tax Rate from Vidalia PPA | $ 74,500,000 | |||||||||||||
Noncash Capital Contribution from Parent | 0 | 0 | 267,826,000 | |||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | 2,200,000,000 | |||||||||||||
Deductible temporary difference related to election to mark-to-market certain power purchase and sales agreements | 2,200,000,000 | |||||||||||||
Regulatory Liability For Income Taxes Net | 725,368,000 | 0 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 782,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 410,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (217,000,000) | |||||||||||||
Entergy Mississippi [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 0 | 0 | 8,100,000 | |||||||||||
Accrued income tax interest and penalties | 1,000,000 | 800,000 | 400,000 | |||||||||||
Deferred Income Taxes and Tax Credits | 84,816,000 | 60,986,000 | 18,673,000 | |||||||||||
Regulatory Liability For Income Taxes Net | 411,011,000 | 0 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 274,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 162,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (3,000,000) | |||||||||||||
Entergy New Orleans [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 31,700,000 | 33,600,000 | 50,700,000 | |||||||||||
Accrued income tax interest and penalties | 2,100,000 | 1,500,000 | 1,800,000 | |||||||||||
Deferred Income Taxes and Tax Credits | 64,036,000 | 140,283,000 | 22,180,000 | |||||||||||
Regulatory Liability For Income Taxes Net | 119,259,000 | 9,074,000 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 71,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 37,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (6,000,000) | |||||||||||||
Deductible temporary difference related to election to mark-to-market Unit Power Sales agreement for tax purposes | 1,100,000,000 | |||||||||||||
Entergy Texas [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 4,400,000 | 7,000,000 | 5,200,000 | |||||||||||
Accrued income tax interest and penalties | 400,000 | 1,200,000 | 1,200,000 | |||||||||||
Deferred Income Taxes and Tax Credits | 42,119,000 | 20,794,000 | (23,292,000) | |||||||||||
Regulatory Liability, Noncurrent | 6,850,000 | 8,502,000 | ||||||||||||
Regulatory Liability For Income Taxes Net | 412,620,000 | 0 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 276,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 198,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | (3,000,000) | |||||||||||||
System Energy [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Unrecognized tax benefits if recognized, would lower the effective income tax rates | 0 | 0 | 700,000 | |||||||||||
Accrued income tax interest and penalties | 8,500,000 | 3,700,000 | 700,000 | |||||||||||
Deferred Income Taxes and Tax Credits | 7,827,000 | 99,531,000 | 200,797,000 | |||||||||||
Income tax benefit resulting from 2006-2007 audit | $ 1,000,000 | |||||||||||||
Regulatory Liability, Noncurrent | 455,991,000 | 370,862,000 | ||||||||||||
Change in accounting method for tax purposes, effect of change on taxable income | 1,200,000,000 | |||||||||||||
Regulatory Liability For Income Taxes Net | 246,122,000 | $ 0 | ||||||||||||
Protected Excess ADIT Under H.R. 1 | 217,000,000 | |||||||||||||
Unprotected Excess ADIT Under H.R. 1 | 76,000,000 | |||||||||||||
Income Tax Expense(Benefit) Related to Excess ADIT | $ 0 | |||||||||||||
Hurricane Rita [Member] | Entergy Gulf States Louisiana [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Proceeds from LURC | $ 274,700,000 | |||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 274,700,000 | |||||||||||||
Hurricane Rita [Member] | Entergy Louisiana [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Proceeds from LURC | $ 679,000,000 | |||||||||||||
Proceed from loan by LCDA to corporation LURC | $ 679,000,000 | |||||||||||||
Member's Equity [Member] | Entergy Louisiana [Member] | ||||||||||||||
Income Taxes [Line Items] | ||||||||||||||
Noncash Capital Contribution from Parent | $ 267,826,000 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expenses From Continuing Operations) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Federal | $ 29,595 | $ 45,249 | $ 77,166 |
Foreign | 0 | 68 | 97 |
State | 15,478 | (14,960) | 157,829 |
Total | 45,073 | 30,357 | 235,092 |
Deferred and non-current -- net | 505,010 | (840,465) | (864,799) |
Investment tax credit adjustments - net | (7,513) | (7,151) | (13,220) |
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) |
Entergy Arkansas [Member] | |||
Federal | 16,086 | (14,748) | 66,966 |
State | 9,191 | 2,805 | 6,265 |
Total | 25,277 | (11,943) | 73,231 |
Deferred and non-current -- net | 69,753 | 120,942 | (31,463) |
Investment tax credit adjustments - net | (1,226) | (1,226) | (1,227) |
Income Tax Expense (Benefit) | 93,804 | 107,773 | 40,541 |
Entergy Louisiana [Member] | |||
Federal | (84,250) | (124,113) | 101,382 |
State | 1,480 | 10,757 | 35,406 |
Total | (82,770) | (113,356) | 136,788 |
Deferred and non-current -- net | 572,988 | 208,157 | 47,220 |
Investment tax credit adjustments - net | (4,920) | (5,067) | (5,337) |
Income Tax Expense (Benefit) | 485,298 | 89,734 | 178,671 |
Entergy Mississippi [Member] | |||
Federal | (8,845) | 10,603 | 25,628 |
State | (924) | 2,257 | 6,832 |
Total | (9,769) | 12,860 | 32,460 |
Deferred and non-current -- net | 83,501 | 46,984 | 31,149 |
Investment tax credit adjustments - net | 187 | 4,010 | (1,737) |
Income Tax Expense (Benefit) | 73,919 | 63,854 | 61,872 |
Entergy New Orleans [Member] | |||
Federal | (30,635) | (91,067) | (9,346) |
State | (728) | 566 | 1,784 |
Total | (31,363) | (90,501) | (7,562) |
Deferred and non-current -- net | 62,946 | 119,345 | 32,890 |
Investment tax credit adjustments - net | 1,695 | (139) | (138) |
Income Tax Expense (Benefit) | 33,278 | 28,705 | 25,190 |
Entergy Texas [Member] | |||
Federal | 6,034 | 19,656 | 53,313 |
State | 310 | 1,374 | 2,450 |
Total | 6,344 | 21,030 | 55,763 |
Deferred and non-current -- net | 43,102 | 42,982 | (17,599) |
Investment tax credit adjustments - net | (965) | (915) | (914) |
Income Tax Expense (Benefit) | 48,481 | 63,097 | 37,250 |
System Energy [Member] | |||
Federal | 47,674 | 29,628 | (63,302) |
State | 5,314 | (25,825) | 26,755 |
Total | 52,988 | 3,803 | (36,547) |
Deferred and non-current -- net | 19,243 | 71,051 | 93,491 |
Investment tax credit adjustments - net | (2,262) | (3,793) | (3,867) |
Income Tax Expense (Benefit) | $ 69,969 | $ 71,061 | $ 53,077 |
Income Taxes (Schedule Of Statu
Income Taxes (Schedule Of Statutory Income Tax Rate To Income Before Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 560,410 | $ 0 | $ 0 | |||||||||||
Net income (loss) attributable to Entergy Corporation | $ (479,113) | $ 398,198 | $ 409,922 | $ 82,605 | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | 411,612 | (583,618) | (176,562) | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 13,741 | 19,115 | 19,828 | |||||||||||
Consolidated net income (loss) | (475,710) | 401,644 | 413,368 | 86,051 | (1,765,539) | 393,204 | 572,590 | 235,242 | 425,353 | [1] | (564,503) | [1] | (156,734) | [1] |
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) | |||||||||||
Income before income taxes | 967,923 | (1,381,762) | (799,661) | |||||||||||
Computed at statutory rate (35%) | 338,773 | (483,617) | (279,881) | |||||||||||
State income taxes net of federal income tax effect | 44,179 | 40,581 | 29,944 | |||||||||||
Regulatory differences - utility plant items | 39,825 | 33,581 | 32,089 | |||||||||||
Equity component of AFUDC | (33,282) | (23,647) | (18,191) | |||||||||||
Amortization of investment tax credits | (10,204) | (10,889) | (11,136) | |||||||||||
Flow-through / permanent differences | 8,727 | (19,307) | (7,872) | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 8,756 | (67,119) | (56,683) | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 0 | 11,411 | 0 | |||||||||||
Other - net | $ 3,007 | $ 2,984 | $ 2,458 | |||||||||||
Effective Income Tax Rate | 56.10% | 59.10% | 80.40% | |||||||||||
Increase (Reduction) in tax resulting from Louisiana business combination | $ 0 | $ 0 | $ (333,655) | |||||||||||
Increase (Reduction) in income tax resulting from Entergy Wholesale Commodities restructuring | (373,277) | (237,760) | 0 | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | 0 | (63,477) | 0 | |||||||||||
Effective Income Tax Rate Reconciliation, Fitzpatrick Disposition, Amount | 44,344 | 0 | 0 | |||||||||||
Entergy Arkansas [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (3,090) | |||||||||||||
Net income (loss) attributable to Entergy Corporation | (6,005) | 92,281 | 38,193 | 13,947 | 3,521 | 108,672 | 32,173 | 17,576 | 138,416 | 161,942 | 67,399 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 1,428 | 5,270 | 6,873 | |||||||||||
Consolidated net income (loss) | (5,648) | 92,638 | 38,550 | 14,304 | 3,879 | 110,148 | 33,891 | 19,294 | 139,844 | 167,212 | 74,272 | |||
Income Tax Expense (Benefit) | 93,804 | 107,773 | 40,541 | |||||||||||
Income before income taxes | 233,648 | 274,985 | 114,813 | |||||||||||
Computed at statutory rate (35%) | 81,777 | 96,245 | 40,185 | |||||||||||
State income taxes net of federal income tax effect | 11,586 | 11,652 | 6,643 | |||||||||||
Regulatory differences - utility plant items | 7,220 | 10,971 | 7,299 | |||||||||||
Equity component of AFUDC | (6,458) | (5,985) | (4,979) | |||||||||||
Amortization of investment tax credits | (1,201) | (1,201) | (1,201) | |||||||||||
Flow-through / permanent differences | 3,098 | (3,848) | (4,062) | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 200 | (717) | (3,978) | |||||||||||
Other - net | $ 672 | $ 656 | $ 634 | |||||||||||
Effective Income Tax Rate | 40.10% | 39.20% | 35.30% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 217,258 | |||||||||||||
Net income (loss) attributable to Entergy Corporation | 316,347 | 622,047 | $ 440,902 | |||||||||||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 0 | 0 | 5,737 | |||||||||||
Consolidated net income (loss) | (88,794) | 186,284 | 124,479 | 94,378 | 67,610 | 189,506 | 253,325 | 111,606 | 316,347 | 622,047 | 446,639 | |||
Income Tax Expense (Benefit) | 485,298 | 89,734 | 178,671 | |||||||||||
Income before income taxes | 801,645 | 711,781 | 625,310 | |||||||||||
Computed at statutory rate (35%) | 280,576 | 249,123 | 218,859 | |||||||||||
State income taxes net of federal income tax effect | 31,927 | 29,014 | 23,650 | |||||||||||
Regulatory differences - utility plant items | 12,168 | 8,094 | 3,013 | |||||||||||
Equity component of AFUDC | (18,020) | (9,774) | (5,420) | |||||||||||
Amortization of investment tax credits | (4,871) | (5,019) | (5,252) | |||||||||||
Flow-through / permanent differences | 3,774 | (980) | 2,460 | |||||||||||
Non-taxable dividend income | (44,658) | (44,658) | (44,658) | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 5,700 | (75,871) | (15,377) | |||||||||||
Other - net | $ 1,444 | $ 1,425 | $ 1,396 | |||||||||||
Effective Income Tax Rate | 60.50% | 12.60% | 28.60% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (61,620) | |||||||||||||
Entergy Mississippi [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 3,492 | |||||||||||||
Net income (loss) attributable to Entergy Corporation | 17,788 | 46,307 | 28,064 | 16,920 | 12,938 | 45,905 | 31,487 | 16,411 | 109,079 | 106,741 | $ 89,880 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 953 | 2,443 | 2,828 | |||||||||||
Consolidated net income (loss) | 18,026 | 46,545 | 28,303 | 17,158 | 13,260 | 46,612 | 32,194 | 17,118 | 110,032 | 109,184 | 92,708 | |||
Income Tax Expense (Benefit) | 73,919 | 63,854 | 61,872 | |||||||||||
Income before income taxes | 183,951 | 173,038 | 154,580 | |||||||||||
Computed at statutory rate (35%) | 64,383 | 60,563 | 54,103 | |||||||||||
State income taxes net of federal income tax effect | 6,202 | 5,592 | 5,219 | |||||||||||
Regulatory differences - utility plant items | 1,356 | (1,154) | 2,383 | |||||||||||
Equity component of AFUDC | (3,383) | (2,030) | (1,083) | |||||||||||
Amortization of investment tax credits | (160) | (160) | (160) | |||||||||||
Flow-through / permanent differences | 1,567 | 764 | 431 | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 228 | 50 | 756 | |||||||||||
Other - net | $ 234 | $ 229 | $ 223 | |||||||||||
Effective Income Tax Rate | 40.20% | 36.90% | 40.00% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy New Orleans [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 6,153 | |||||||||||||
Net income (loss) attributable to Entergy Corporation | 46 | 18,288 | 14,641 | 10,737 | 1,896 | 23,460 | 11,602 | 10,926 | 43,712 | 47,884 | $ 43,960 | |||
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable | 841 | 965 | 965 | |||||||||||
Consolidated net income (loss) | 164 | 18,529 | 14,882 | 10,978 | 2,138 | 23,701 | 11,843 | 11,167 | 44,553 | 48,849 | 44,925 | |||
Income Tax Expense (Benefit) | 33,278 | 28,705 | 25,190 | |||||||||||
Income before income taxes | 77,831 | 77,554 | 70,115 | |||||||||||
Computed at statutory rate (35%) | 27,241 | 27,144 | 24,540 | |||||||||||
State income taxes net of federal income tax effect | 2,842 | 3,543 | 2,887 | |||||||||||
Regulatory differences - utility plant items | 619 | 2,329 | 2,201 | |||||||||||
Equity component of AFUDC | (847) | (412) | (451) | |||||||||||
Amortization of investment tax credits | (124) | (132) | (111) | |||||||||||
Flow-through / permanent differences | (3,352) | (3,609) | (4,539) | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 600 | (300) | 525 | |||||||||||
Other - net | $ 146 | $ 142 | $ 138 | |||||||||||
Effective Income Tax Rate | 42.80% | 37.00% | 35.90% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
Entergy Texas [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 2,981 | |||||||||||||
Consolidated net income (loss) | 4,630 | 39,588 | 21,101 | 10,854 | 12,785 | 56,133 | 24,058 | 14,562 | 76,173 | 107,538 | $ 69,625 | |||
Income Tax Expense (Benefit) | 48,481 | 63,097 | 37,250 | |||||||||||
Income before income taxes | 124,654 | 170,635 | 106,875 | |||||||||||
Computed at statutory rate (35%) | 43,629 | 59,722 | 37,406 | |||||||||||
State income taxes net of federal income tax effect | 527 | 449 | 1,621 | |||||||||||
Regulatory differences - utility plant items | 5,581 | 4,140 | 3,703 | |||||||||||
Equity component of AFUDC | (2,353) | (2,666) | (1,987) | |||||||||||
Amortization of investment tax credits | (951) | (900) | (900) | |||||||||||
Flow-through / permanent differences | 1,428 | 634 | 530 | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | (2,617) | 1,926 | (3,365) | |||||||||||
Other - net | $ 256 | $ 246 | $ 242 | |||||||||||
Effective Income Tax Rate | 38.90% | 37.00% | 34.90% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ (454) | |||||||||||||
System Energy [Member] | ||||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ (69) | |||||||||||||
Consolidated net income (loss) | $ 18,316 | $ 20,583 | $ 19,350 | $ 20,347 | $ 23,326 | $ 22,370 | $ 25,090 | $ 25,958 | 78,596 | 96,744 | $ 111,318 | |||
Income Tax Expense (Benefit) | 69,969 | 71,061 | 53,077 | |||||||||||
Income before income taxes | 148,565 | 167,805 | 164,395 | |||||||||||
Computed at statutory rate (35%) | 51,998 | 58,732 | 57,538 | |||||||||||
State income taxes net of federal income tax effect | 5,635 | 7,001 | 6,403 | |||||||||||
Regulatory differences - utility plant items | 12,880 | 9,201 | 12,167 | |||||||||||
Equity component of AFUDC | (2,221) | (2,780) | (2,973) | |||||||||||
Amortization of investment tax credits | (2,896) | (3,476) | (3,476) | |||||||||||
Flow-through / permanent differences | (276) | (883) | 618 | |||||||||||
Non-taxable dividend income | 0 | 0 | 0 | |||||||||||
Income Tax Reconciliation Provision For Uncertain Tax Positions | 4,800 | 3,151 | (17,313) | |||||||||||
Other - net | $ 118 | $ 115 | $ 113 | |||||||||||
Effective Income Tax Rate | 47.10% | 42.30% | 32.30% | |||||||||||
Increase (Reduction) in income tax resulting from Act 55 financing settlement | $ 0 | |||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Income Taxes (Significant Compo
Income Taxes (Significant Components Of Accumulated Deferred Income Taxes And Taxes Accrued) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Plant basis differences - net | $ (3,963,798) | $ (6,362,905) |
Regulatory assets for income taxes - net | 0 | (584,572) |
Nuclear decommissioning trusts | (1,657,808) | (1,739,977) |
Pension, net funding | (350,743) | (429,896) |
Combined unitary state taxes | (24,645) | (33,063) |
Power purchase agreements | (19,621) | (993) |
Other | (249,327) | (251,719) |
Total | (6,265,942) | (9,403,125) |
Regulatory liabilities | 841,370 | 255,272 |
Pension and other post-employment benefits | 343,817 | 539,456 |
Sale and leaseback | 122,397 | 135,866 |
Compensation | 75,217 | 99,300 |
Accumulated deferred investment tax credit | 59,285 | 92,375 |
Provision for allowances and contingencies | 126,391 | 188,390 |
Net operating loss carryforwards | 467,255 | 334,025 |
Capital losses and miscellaneous tax credits | 16,738 | 18,470 |
Valuation allowance | (137,283) | (104,277) |
Other | 54,058 | 59,079 |
Total | 2,934,190 | 3,017,424 |
Non-current accrued taxes (including unrecognized tax benefits) | (956,547) | (991,704) |
Deferred tax asset Nuclear Decommissioning Liabilities | 964,945 | 1,399,468 |
Deferred Tax Liabilities, Net, Noncurrent | (4,288,299) | (7,377,405) |
Entergy Arkansas [Member] | ||
Plant basis differences - net | (1,289,827) | (1,857,554) |
Regulatory assets for income taxes - net | (109,241) | |
Nuclear decommissioning trusts | (181,911) | (144,250) |
Pension, net funding | (99,971) | (123,889) |
Power purchase agreements | 0 | |
Deferred fuel | (16,530) | (14,774) |
Other | (23,079) | (47,785) |
Total | (1,611,318) | (2,297,493) |
Regulatory liabilities | 227,489 | 5,768 |
Pension and other post-employment benefits | (16,252) | (24,467) |
Sale and leaseback | 0 | 0 |
Compensation | 2,566 | 2,787 |
Accumulated deferred investment tax credit | 8,913 | 13,848 |
Provision for allowances and contingencies | 4,367 | (1,497) |
Deferred Tax Assets, Power Purchase Arrangements | 0 | (3,094) |
Net operating loss carryforwards | 16,172 | 69,524 |
Other | 473 | 174 |
Total | 385,065 | 196,122 |
Accrued Income Taxes, Noncurrent | 35,584 | (85,252) |
Deferred Tax Assets, Deferred Income | 6,195 | 6,799 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 2,678 | 2,074 |
Deferred tax asset Nuclear Decommissioning Liabilities | 132,464 | 124,206 |
Entergy Louisiana [Member] | ||
Plant basis differences - net | (1,583,100) | (2,357,599) |
Regulatory assets for income taxes - net | (219,750) | |
Nuclear decommissioning trusts | (164,395) | (119,544) |
Pension, net funding | (102,138) | (122,465) |
Power purchase agreements | 0 | |
Deferred fuel | (1,329) | (1,778) |
Other | (98,307) | (22,136) |
Total | (1,949,269) | (2,843,272) |
Regulatory liabilities | 368,156 | 175,973 |
Pension and other post-employment benefits | 98,596 | 145,401 |
Sale and leaseback | 19,915 | 33,383 |
Compensation | 4,387 | 5,309 |
Accumulated deferred investment tax credit | 35,323 | 54,509 |
Provision for allowances and contingencies | 80,516 | 124,309 |
Deferred Tax Assets, Power Purchase Arrangements | (6,924) | 29,827 |
Net operating loss carryforwards | 44 | 17,125 |
Other | 21,922 | 17,110 |
Total | 662,563 | 623,348 |
Accrued Income Taxes, Noncurrent | (763,665) | (471,194) |
Deferred Tax Assets, Deferred Income | (18,263) | (35,006) |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | 0 |
Deferred tax asset Nuclear Decommissioning Liabilities | 58,891 | 55,408 |
Entergy Mississippi [Member] | ||
Plant basis differences - net | (571,682) | (820,971) |
Regulatory assets for income taxes - net | (25,309) | |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (26,413) | (34,284) |
Power purchase agreements | 0 | |
Deferred fuel | (19,005) | (12,770) |
Other | (11,306) | (12,474) |
Total | (628,406) | (905,808) |
Regulatory liabilities | 102,676 | 18,833 |
Pension and other post-employment benefits | (4,865) | (8,042) |
Sale and leaseback | 0 | 0 |
Compensation | 1,466 | 1,492 |
Accumulated deferred investment tax credit | 2,212 | 3,315 |
Provision for allowances and contingencies | 11,898 | 21,817 |
Deferred Tax Assets, Power Purchase Arrangements | 1,129 | 1,905 |
Net operating loss carryforwards | 10,255 | 0 |
Other | 1,307 | 1,152 |
Total | 136,661 | 50,044 |
Accrued Income Taxes, Noncurrent | 2,939 | (5,567) |
Deferred Tax Assets, Deferred Income | 4,847 | 5,085 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 5,736 | 4,487 |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
Entergy New Orleans [Member] | ||
Plant basis differences - net | (85,515) | (177,242) |
Regulatory assets for income taxes - net | (36,301) | |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (13,040) | (16,307) |
Power purchase agreements | 0 | |
Deferred fuel | (1,894) | (5,229) |
Other | (23,610) | (18,536) |
Total | (124,059) | (253,615) |
Regulatory liabilities | 23,526 | 25,240 |
Pension and other post-employment benefits | (9,618) | (12,070) |
Sale and leaseback | 0 | 0 |
Compensation | 723 | 685 |
Accumulated deferred investment tax credit | 488 | 239 |
Provision for allowances and contingencies | 24,234 | 36,466 |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 0 |
Net operating loss carryforwards | 0 | 0 |
Other | 388 | 496 |
Total | 41,552 | 54,807 |
Accrued Income Taxes, Noncurrent | (200,795) | (136,145) |
Deferred Tax Assets, Deferred Income | 1,811 | 3,751 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | 0 |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
Entergy Texas [Member] | ||
Plant basis differences - net | (526,596) | (835,671) |
Regulatory assets for income taxes - net | (153,914) | |
Nuclear decommissioning trusts | 0 | 0 |
Pension, net funding | (20,700) | (28,371) |
Power purchase agreements | 0 | |
Deferred fuel | 0 | (2,808) |
Other | (8,236) | (8,812) |
Total | (555,532) | (1,029,576) |
Regulatory liabilities | 25,428 | 15,814 |
Pension and other post-employment benefits | (12,044) | (19,096) |
Sale and leaseback | 0 | 0 |
Compensation | 1,224 | 1,587 |
Accumulated deferred investment tax credit | 2,516 | 4,527 |
Provision for allowances and contingencies | 4,383 | 5,904 |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 140 |
Net operating loss carryforwards | 1,690 | 0 |
Other | 1,133 | 2,955 |
Total | 32,066 | 23,733 |
Accrued Income Taxes, Noncurrent | (21,176) | (21,804) |
Deferred Tax Assets, Deferred Income | 7,736 | 11,902 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | 0 |
Deferred tax asset Nuclear Decommissioning Liabilities | 0 | 0 |
System Energy [Member] | ||
Plant basis differences - net | (359,931) | (651,394) |
Regulatory assets for income taxes - net | (39,879) | |
Nuclear decommissioning trusts | (119,184) | (83,891) |
Pension, net funding | (21,871) | (29,357) |
Power purchase agreements | 0 | |
Deferred fuel | (272) | (1,137) |
Other | (5,955) | (2,051) |
Total | (507,213) | (807,709) |
Regulatory liabilities | 91,271 | 13,644 |
Pension and other post-employment benefits | (516) | (1,182) |
Sale and leaseback | 102,482 | 102,483 |
Compensation | 332 | 360 |
Accumulated deferred investment tax credit | 9,832 | 15,936 |
Provision for allowances and contingencies | 0 | 0 |
Deferred Tax Assets, Power Purchase Arrangements | 0 | 0 |
Net operating loss carryforwards | 0 | 0 |
Other | 0 | 0 |
Total | 266,581 | 184,354 |
Accrued Income Taxes, Noncurrent | (535,788) | (489,510) |
Deferred Tax Assets, Deferred Income | 0 | 0 |
Deferred Tax Assets, Capital Losses and Miscellaneous Tax Credits | 0 | 0 |
Deferred tax asset Nuclear Decommissioning Liabilities | $ 63,180 | $ 53,113 |
Income Taxes (Schedule Of Estim
Income Taxes (Schedule Of Estimated Tax Attributes Carryovers And Their Expiration Dates) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | ||
Capital losses, Carryover Amount | $ 16,738 | $ 18,470 |
Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 10,700,000 | |
Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 77,000 | |
Tax credits, Carryover Amount | 2,700 | |
Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 4,300,000 | |
Tax credits, Carryover Amount | 1,700 | |
Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 86,600 | |
Tax credits, Carryover Amount | 2,700 | |
Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 1,100 | |
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Tax credits, Carryover Amount | $ 2,100 | |
Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 600 | |
Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 2,500 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 9,600,000 | |
State and Local Jurisdiction [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 5,000,000 | |
Tax credits, Carryover Amount | 0 | |
State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | 4,900 | |
State and Local Jurisdiction [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 1,200 | |
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Tax credits, Carryover Amount | $ 0 | |
State and Local Jurisdiction [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | 0 | |
Tax credits, Carryover Amount | $ 3,200 | |
Tax Credit Carryforward, Expiration Date | Dec. 31, 2026 | |
State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Carryover Amount | $ 0 | |
Tax credits, Carryover Amount | 10,000 | |
Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax credits, Carryover Amount | $ 96,600 | |
Minimum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2023 | |
Minimum [Member] | Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2030 | |
Minimum [Member] | Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2035 | |
Minimum [Member] | Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2030 | |
Minimum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2018 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2029 | |
Minimum [Member] | State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2018 | |
Minimum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2018 | |
Minimum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2018 | |
Minimum [Member] | Other Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Minimum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2029 | |
Maximum [Member] | Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating losses, Year(s) of expiration | Dec. 31, 2037 | |
Maximum [Member] | State and Local Jurisdiction [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2021 | |
Maximum [Member] | State and Local Jurisdiction [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2021 | |
Maximum [Member] | Other Federal And State [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | Entergy Arkansas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | Entergy Louisiana [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | Entergy Mississippi [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | Entergy New Orleans [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | Entergy Texas [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 | |
Maximum [Member] | Other Federal [Member] | System Energy [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Tax Credit Carryforward, Expiration Date | Dec. 31, 2036 |
Income Taxes (Schedule Of Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | $ 3,909,855 | $ 2,611,585 | $ 4,736,785 |
Additions based on tax positions related to the current year | 1,120,687 | 1,532,782 | 1,850,705 |
Additions for tax positions of prior years | 283,683 | 368,404 | 59,815 |
Reductions for tax positions of prior years | (442,379) | (265,653) | (3,966,535) |
Settlements | 0 | (337,263) | (68,227) |
Lapse of statute of limitations | 0 | 0 | (958) |
Gross balance at December 31 | 4,871,846 | 3,909,855 | 2,611,585 |
Unrecognized tax benefits net of unused tax attributes and payments | 916,322 | 977,770 | 1,347,102 |
Remaining balances of unrecognized tax benefits, effective income tax rates | 3,410,000 | 2,670,000 | 1,657,000 |
Net operating loss carryforwards | 467,255 | 334,025 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (3,945,524) | (2,922,085) | (1,264,483) |
Cash Paid To Taxing Authorities | 10,000 | 10,000 | 0 |
Entergy Arkansas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 2,503 | 25,445 | 362,912 |
Additions based on tax positions related to the current year | 8,974 | 16,868 | 2,196 |
Additions for tax positions of prior years | 3,682 | 2,463 | 1,057 |
Reductions for tax positions of prior years | (132,875) | (41,957) | (340,720) |
Settlements | (316) | 0 | |
Gross balance at December 31 | (117,716) | 2,503 | 25,445 |
Unrecognized tax benefits net of unused tax attributes and payments | (117,716) | 2,503 | 21,832 |
Net operating loss carryforwards | 16,172 | 69,524 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | 0 | 0 | (3,613) |
Entergy Louisiana [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 2,440,339 | 1,690,661 | 1,205,929 |
Additions based on tax positions related to the current year | 32,843 | 931,720 | 1,367,058 |
Additions for tax positions of prior years | 235,331 | 157,586 | 7,992 |
Reductions for tax positions of prior years | (190,056) | (144,068) | (859,430) |
Settlements | (195,560) | (30,888) | |
Gross balance at December 31 | 2,518,457 | 2,440,339 | 1,690,661 |
Unrecognized tax benefits net of unused tax attributes and payments | 926,550 | 657,246 | 796,897 |
Net operating loss carryforwards | 44 | 17,125 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (1,591,907) | (1,783,093) | (893,764) |
Entergy Mississippi [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 12,206 | 19,482 | 20,144 |
Additions based on tax positions related to the current year | 2,105 | 2,662 | 566 |
Additions for tax positions of prior years | 1,267 | 336 | 8,140 |
Reductions for tax positions of prior years | (456) | (10,219) | 0 |
Settlements | (55) | (9,368) | |
Gross balance at December 31 | 15,122 | 12,206 | 19,482 |
Unrecognized tax benefits net of unused tax attributes and payments | 0 | 9,833 | 18,466 |
Net operating loss carryforwards | 10,255 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (15,122) | (2,373) | (1,016) |
Entergy New Orleans [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 166,230 | 53,897 | 53,763 |
Additions based on tax positions related to the current year | 509,183 | 33,912 | 472 |
Additions for tax positions of prior years | 13,364 | 129,784 | 48 |
Reductions for tax positions of prior years | (9,233) | (29,821) | (386) |
Settlements | (21,542) | 0 | |
Gross balance at December 31 | 679,544 | 166,230 | 53,897 |
Unrecognized tax benefits net of unused tax attributes and payments | 238,170 | 138,910 | 53,391 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (441,374) | (27,320) | (506) |
Entergy Texas [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 15,946 | 13,462 | 17,264 |
Additions based on tax positions related to the current year | 1,747 | 2,002 | 657 |
Additions for tax positions of prior years | 3,115 | 2,888 | 2,914 |
Reductions for tax positions of prior years | (4,409) | (1,849) | (3,981) |
Settlements | (557) | (3,392) | |
Gross balance at December 31 | 16,399 | 15,946 | 13,462 |
Unrecognized tax benefits net of unused tax attributes and payments | 15,761 | 15,570 | 13,186 |
Net operating loss carryforwards | 1,690 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | (638) | (376) | (276) |
System Energy [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross balance January 1 | 472,372 | 478,318 | 258,242 |
Additions based on tax positions related to the current year | 909 | 5,318 | 472,304 |
Additions for tax positions of prior years | 1,432 | 601 | 913 |
Reductions for tax positions of prior years | (29,202) | (10,266) | (253,141) |
Settlements | (1,599) | 0 | |
Gross balance at December 31 | 445,511 | 472,372 | 478,318 |
Unrecognized tax benefits net of unused tax attributes and payments | 432,975 | 382,344 | 344,707 |
Net operating loss carryforwards | 0 | 0 | |
Offset to gross unrecognized tax benefits, credit and loss carryforward | $ (12,536) | $ (90,028) | $ (133,611) |
Income Taxes (Summary Of Unreco
Income Taxes (Summary Of Unrecognized Benefits That Would Affect Effective Income Tax Rate) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Unrecognized tax benefits that would impact effective income tax rate | $ 1,462 | $ 1,240 | $ 63.5 | $ 955 |
Entergy Arkansas [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 2.6 | 3.6 | 4.5 | |
Entergy Louisiana [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 575.8 | 473.3 | $ 61.6 | 692.7 |
Entergy Mississippi [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 0 | 0 | 8.1 | |
Entergy New Orleans [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 31.7 | 33.6 | 50.7 | |
Entergy Texas [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | 4.4 | 7 | 5.2 | |
System Energy [Member] | ||||
Unrecognized tax benefits that would impact effective income tax rate | $ 0 | $ 0 | $ 0.7 |
Income Taxes (Summary Of Accrue
Income Taxes (Summary Of Accrued Interest And Penalties Related To Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued income tax interest and penalties | $ 38 | $ 30 | $ 27 |
Entergy Arkansas [Member] | |||
Accrued income tax interest and penalties | 1.6 | 1.4 | 1.3 |
Entergy Louisiana [Member] | |||
Accrued income tax interest and penalties | 14.1 | 8.4 | 9.3 |
Entergy Mississippi [Member] | |||
Accrued income tax interest and penalties | 1 | 0.8 | 0.4 |
Entergy New Orleans [Member] | |||
Accrued income tax interest and penalties | 2.1 | 1.5 | 1.8 |
Entergy Texas [Member] | |||
Accrued income tax interest and penalties | 0.4 | 1.2 | 1.2 |
System Energy [Member] | |||
Accrued income tax interest and penalties | $ 8.5 | $ 3.7 | $ 0.7 |
Revolving Credit Facilities, 68
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 3,500,000 | ||
Issuance of letters of credit, limit of total borrowing capacity | $ 20,000 | ||
Line of credit facility, commitment fee percentage | 0.225% | ||
Consolidated debt ratio | 65.00% | ||
Commercial Paper program limit | $ 2,000,000 | ||
Commercial Paper Amount Outstanding | $ 1,467,000 | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Amount Drawn/ Outstanding | $ 210,000 | ||
Entergy Mississippi [Member] | |||
Debt Instrument [Line Items] | |||
Consolidated debt ratio | 65.00% | ||
Letters of Credit Outstanding, Amount | $ 100 | $ 100 | |
Letters of credit posted to cover derivative exposure | 100 | ||
Entergy New Orleans [Member] | |||
Debt Instrument [Line Items] | |||
Issuance of letters of credit, limit of total borrowing capacity | $ 10,000 | ||
Consolidated debt ratio | 65.00% | ||
Entergy Nuclear Vermont Yankee [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 145,000 | $ 145,000 | |
Line of credit facility, commitment fee percentage | 0.20% | ||
Debt, weighted average interest rate | 2.64% | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.07% | ||
Amount Drawn/ Outstanding | $ 104,000 | ||
Uncommitted Credit Facility | 85,000 | ||
System Energy [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 17,830 | 66,893 | |
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Entergy Arkansas [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 49,974 | 0 | |
Issuance of letters of credit, limit of total borrowing capacity | $ 5,000 | ||
Consolidated debt ratio | 65.00% | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Letters of Credit Outstanding, Amount | $ 200 | 300 | |
Letters of credit posted to cover derivative exposure | 200 | ||
Entergy Texas [Member] | |||
Debt Instrument [Line Items] | |||
Issuance of letters of credit, limit of total borrowing capacity | $ 30,000 | ||
Consolidated debt ratio | 65.00% | ||
Letters of credit posted to cover derivative exposure | $ 50 | ||
Entergy Louisiana [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | 43,540 | $ 3,794 | |
Issuance of letters of credit, limit of total borrowing capacity | $ 15,000 | ||
Consolidated debt ratio | 65.00% | ||
Consolidated debt ratio of lessees total capitalization | 70.00% | ||
Entergy Louisiana Waterford VIE [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 43,500 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Amount Drawn/ Outstanding | $ 79,900 | ||
Entergy Louisiana River Bend VIE [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Amount Drawn/ Outstanding | $ 65,700 | ||
System Energy VIE [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 17,800 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Amount Drawn/ Outstanding | $ 67,800 | ||
Entergy Arkansas VIE [Member] | |||
Debt Instrument [Line Items] | |||
Short-term borrowings | $ 50,000 | ||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||
Amount Drawn/ Outstanding | $ 74,900 | ||
Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Debt, weighted average interest rate | 2.55% | ||
Commercial Paper Program [Member] | |||
Debt Instrument [Line Items] | |||
Debt, weighted average interest rate | 1.49% | ||
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | |||
Debt Instrument [Line Items] | |||
Notes payable noncurrent amount | $ 40,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | ||
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, commitment fee percentage | 0.275% | ||
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit facility, commitment fee percentage | 0.075% |
Revolving Credit Facilities, 69
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Summary Of The Borrowings Outstanding And Capacity Available Under The Facility) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Summary of the borrowings outstanding and capacity available under the facility | |
Line of credit facility, maximum borrowing capacity | $ 3,500 |
Amount Drawn/ Outstanding | 210 |
Letters of Credit | 6 |
Capacity Available | $ 3,284 |
Revolving Credit Facilities, 70
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Credit Facilities) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Line of credit facility, maximum borrowing capacity | $ 3,500,000 | |
Amount Drawn/ Outstanding | 210,000 | |
Issuance of letters of credit, limit of total borrowing capacity | 20,000 | |
Entergy Arkansas [Member] | ||
Letters of Credit Outstanding, Amount | 200 | $ 300 |
Issuance of letters of credit, limit of total borrowing capacity | $ 5,000 | |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Aug. 14, 2022 | |
Line of credit facility, maximum borrowing capacity | $ 150,000 | |
Interest Rate | 2.82% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | ||
Expiration Date | Apr. 30, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 20,000 | |
Interest Rate | 2.82% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Louisiana [Member] | ||
Issuance of letters of credit, limit of total borrowing capacity | $ 15,000 | |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred and Fifty Million [Member] | ||
Expiration Date | Aug. 14, 2022 | |
Line of credit facility, maximum borrowing capacity | $ 350,000 | |
Interest Rate | 2.82% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 9,100 | |
Entergy Mississippi [Member] | ||
Letters of Credit Outstanding, Amount | $ 100 | $ 100 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | ||
Expiration Date | May 31, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 35,000 | |
Interest Rate | 3.07% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Mississippi [Member] | Credit Facility Of Twenty Million [Member] | ||
Expiration Date | May 31, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 20,000 | |
Interest Rate | 3.07% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Mississippi [Member] | Credit Facility Of Ten Million [Member] | ||
Expiration Date | May 31, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 10,000 | |
Interest Rate | 3.07% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 0 | |
Entergy Mississippi [Member] | Credit Facility Of Thirty Seven Point Five Million [Member] | ||
Expiration Date | May 31, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 37,500 | |
Interest Rate | 3.07% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 0 | |
Entergy Texas [Member] | ||
Issuance of letters of credit, limit of total borrowing capacity | $ 30,000 | |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | ||
Expiration Date | Aug. 30, 2022 | |
Line of credit facility, maximum borrowing capacity | $ 150,000 | |
Interest Rate | 3.07% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | 25,600 | |
Entergy New Orleans [Member] | ||
Issuance of letters of credit, limit of total borrowing capacity | $ 10,000 | |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | ||
Expiration Date | Nov. 20, 2018 | |
Line of credit facility, maximum borrowing capacity | $ 25,000 | |
Interest Rate | 3.04% | |
Amount Drawn/ Outstanding | $ 0 | |
Letters of Credit Outstanding, Amount | $ 800 |
Revolving Credit Facilities, 71
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Letters Of Credit | $ 6,000,000 |
Entergy Arkansas [Member] | Credit Facility Of Twenty Five Million [Member] | |
Uncommitted Credit Facility | 25,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 1,000,000 |
Entergy Louisiana [Member] | Credit Facility of One Hundred and Twenty Five Million [Member] | |
Uncommitted Credit Facility | 125,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 29,700,000 |
Entergy Mississippi [Member] | Credit Facility of Forty Million [Domain] | |
Uncommitted Credit Facility | 40,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | 15,300,000 |
Entergy New Orleans [Member] | Credit Facility of Fifteen Million [Domain] | |
Uncommitted Credit Facility | 15,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0100 |
Letters Of Credit | 1,400,000 |
Entergy Texas [Member] | Credit Facility of Fifty Million [Domain] | |
Uncommitted Credit Facility | 50,000,000 |
Line of Credit Facility, Commitment Fee Amount | 0.0070 |
Letters Of Credit | $ 22,800,000 |
Revolving Credit Facilities, 72
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 166 |
Entergy Louisiana [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 450 |
Borrowings | 0 |
Entergy Mississippi [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 175 |
Borrowings | 0 |
Entergy New Orleans [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 150 |
Borrowings | 0 |
Entergy Texas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 0 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, 73
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount Drawn/ Outstanding | $ 210 |
Entergy Arkansas VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Line of Credit Facility, Expiration Date | May 16, 2019 |
Amount of Facility | $ 80 |
Weighted Average Interest Rate on Borrowings | 2.87% |
Amount Drawn/ Outstanding | $ 74.9 |
System Energy VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Line of Credit Facility, Expiration Date | May 16, 2019 |
Amount of Facility | $ 120 |
Weighted Average Interest Rate on Borrowings | 2.52% |
Amount Drawn/ Outstanding | $ 67.8 |
Entergy Louisiana Waterford VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Line of Credit Facility, Expiration Date | May 16, 2019 |
Amount of Facility | $ 85 |
Weighted Average Interest Rate on Borrowings | 2.64% |
Amount Drawn/ Outstanding | $ 79.9 |
Entergy Louisiana River Bend VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Line of Credit Facility, Expiration Date | May 16, 2019 |
Amount of Facility | $ 105 |
Weighted Average Interest Rate on Borrowings | 2.38% |
Amount Drawn/ Outstanding | $ 65.7 |
Revolving Credit Facilities, 74
Revolving Credit Facilities, Lines Of Credit And Short-Term Borrowings (Notes Payable By Variable Interest Entities) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Three Point Three Eight Percent Series R Due August Two Thousand Twenty [Member] | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.38% |
Amount | $ 70 |
Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.92% |
Amount | $ 40 |
Three Point Seven Eight Percent Series I Due October Two Thousand Eighteen [Member] | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.78% |
Amount | $ 85 |
Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.65% |
Amount | $ 90 |
Three Point One Seven Percent Series M Notes Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Amount | $ 40 |
Three Point Two Two Percent Series I Due December Two Thousand Twenty Three [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.22% |
Amount | $ 20 |
Three Point One Seven Percent Series M Due December Two Thousand Twenty Three [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Debt Instrument, Interest Rate, Stated Percentage | 3.17% |
Long - Term Debt (Narrative) (D
Long - Term Debt (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2015 | Jul. 31, 2015 | May 31, 2015 | Sep. 30, 2011 | Aug. 31, 2010 | Jun. 30, 2010 | Sep. 30, 2009 | Apr. 30, 2007 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2009 | Jun. 30, 2007 | |
Debt Instrument [Line Items] | |||||||||||||
Year One | $ 760,000 | ||||||||||||
Year Two | 857,679 | ||||||||||||
Year Three | 898,500 | ||||||||||||
Year Four | 960,764 | ||||||||||||
Year Five | 1,304,431 | ||||||||||||
Bonds issued to recover cost | $ 544,921 | $ 661,175 | |||||||||||
System Energy [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Minimum rate of equity capital | 35.00% | ||||||||||||
Year One | $ 85,000 | ||||||||||||
Year Two | 50,000 | ||||||||||||
Year Three | 0 | ||||||||||||
Year Four | 0 | ||||||||||||
Year Five | 134,000 | ||||||||||||
Entergy Arkansas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Carrying costs on issuance of bonds to recover storm damage restoration costs | $ 11,500 | ||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 4,600 | ||||||||||||
Value of non interest bearing first mortgage bonds | $ 124,100 | ||||||||||||
Coupon rate of storm cost recovery bonds | 2.30% | ||||||||||||
Year One | 0 | ||||||||||||
Year Two | 24,900 | ||||||||||||
Year Three | 0 | ||||||||||||
Year Four | 520,764 | ||||||||||||
Year Five | 0 | ||||||||||||
Bonds issued to recover cost | 34,662 | 48,139 | |||||||||||
Entergy Louisiana [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Value of non interest bearing first mortgage bonds | $ 207,200 | ||||||||||||
Coupon rate of storm cost recovery bonds | 2.04% | ||||||||||||
Year One | 675,000 | ||||||||||||
Year Two | 102,010 | ||||||||||||
Year Three | 320,000 | ||||||||||||
Year Four | 240,000 | ||||||||||||
Year Five | 200,000 | ||||||||||||
Bonds issued to recover cost | 77,736 | 99,217 | |||||||||||
Entergy New Orleans [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Up Front Financing Costs On Issuance Of Bonds To Recover Storm Damage Restoration Costs | $ 3,000 | ||||||||||||
Coupon rate of storm cost recovery bonds | 2.67% | ||||||||||||
Year One | 2,077 | ||||||||||||
Year Two | 1,979 | ||||||||||||
Year Three | 26,838 | ||||||||||||
Year Four | 1,618 | ||||||||||||
Year Five | 1,326 | ||||||||||||
Cost recovered through issuance of securitization bonds | 98,700 | ||||||||||||
Bonds issued to recover cost | 74,419 | 84,776 | |||||||||||
Issuance Of Debt | $ 98,700 | ||||||||||||
Amount of Hurricane Issac storm cost to be recovered through securitization | 31,800 | ||||||||||||
Replenishment amount for storm reserve spending | $ 63,900 | ||||||||||||
Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year One | 0 | ||||||||||||
Year Two | 530,769 | ||||||||||||
Year Three | 0 | ||||||||||||
Year Four | 200,000 | ||||||||||||
Year Five | 110,431 | ||||||||||||
Bonds issued to recover cost | 358,104 | $ 429,043 | |||||||||||
Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year One | 29,200 | ||||||||||||
Year Two | 30,900 | ||||||||||||
Year Three | 32,800 | ||||||||||||
Year Four | 17,500 | ||||||||||||
Cost recovered through issuance of securitization bonds | $ 353,000 | ||||||||||||
Amount of storm cost recovery bonds for transaction costs | 6,000 | ||||||||||||
Deferred income tax benefits | $ 32,000 | ||||||||||||
Bonds issued to recover cost | 329,500 | $ 329,500 | |||||||||||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year One | 45,800 | ||||||||||||
Year Two | 47,600 | ||||||||||||
Year Three | 49,800 | ||||||||||||
Year Four | 52,000 | ||||||||||||
Year Five | 54,300 | ||||||||||||
Cost recovered through issuance of securitization bonds | $ 566,400 | ||||||||||||
Bonds issued to recover cost | 545,900 | $ 545,900 | |||||||||||
Tranche A-3 (5.93%) Due June 2022 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Bonds issued to recover cost | 114,400 | ||||||||||||
Tranche A-1 (5.51%) Due October 2013 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Bonds issued to recover cost | 93,500 | ||||||||||||
Tranche A-1 (2.12%) Due February 2016 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Bonds issued to recover cost | 182,500 | ||||||||||||
Tranche A-2 (5.79%) Due October 2018 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Bonds issued to recover cost | 121,600 | ||||||||||||
Tranche A-2 (3.65%) Due August 2019 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year Five | 30,800 | ||||||||||||
Bonds issued to recover cost | 144,800 | ||||||||||||
Tranche A-3 (4.38%) Due November 2023 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year Five | 15,000 | ||||||||||||
Bonds issued to recover cost | 218,600 | ||||||||||||
Tranche A One Two Point Six Seven Percent Due June Two Thousand Twenty Seven [Member] | Entergy New Orleans [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Year One | 11,000 | ||||||||||||
Year Two | 11,200 | ||||||||||||
Year Three | 11,600 | ||||||||||||
Year Four | 11,900 | ||||||||||||
Year Five | $ 12,200 | ||||||||||||
Securitization Bonds, 2.04% Series Senior Secured, Due September 2023 [Member] | Entergy Louisiana [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 2.04% | 2.04% | |||||||||||
Year One | $ 22,300 | ||||||||||||
Year Two | 22,700 | ||||||||||||
Year Three | 23,200 | ||||||||||||
Year Four | $ 11,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% | |||||||||||
Note Payable To NYPA [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Write down of debt liability | $ 26,400 | $ 35,100 | |||||||||||
Securitization Bonds, 2.30% Series Senior Secured, Due August 2021 [Member] | Entergy Arkansas [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 2.30% | 2.30% | |||||||||||
Year One | $ 14,100 | ||||||||||||
Year Two | 14,400 | ||||||||||||
Year Three | $ 7,300 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% | |||||||||||
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | Entergy Louisiana [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Implicit interest rate on notes issued | 7.458% | ||||||||||||
Waterford 3 Lease Obligation [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 0.00% | 8.09% | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 8.09% | |||||||||||
Waterford 3 Lease Obligation [Member] | Entergy Louisiana [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 8.09% | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.09% |
Long - Term Debt (Schedule Of L
Long - Term Debt (Schedule Of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | $ (19,397) | $ (13,911) |
Unamortized Debt Issuance Expense | (128,849) | (126,033) |
Other | 13,204 | 12,830 |
Total Long-Term Debt | 14,832,555 | 15,075,266 |
Long-term Debt, Current Maturities | 364,900 | 760,007 |
Long Term Debt Excluding Amount Due Within One Year | 14,467,655 | 14,315,259 |
Fair Value of Long-Term Debt | 14,815,535 | 15,367,453 |
Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | 984 | 5,307 |
Unamortized Debt Issuance Expense | (34,357) | (34,049) |
Other | 2,057 | 2,042 |
Total Long-Term Debt | 2,829,785 | 2,952,399 |
Long-term Debt, Current Maturities | 114,700 | 0 |
Long Term Debt Excluding Amount Due Within One Year | 2,715,085 | 2,952,399 |
Fair Value of Long-Term Debt | 2,623,910 | 2,865,844 |
Value of DOE obligation excluded from fair value of long-term debt calculation. | 183,000 | |
Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | (14,917) | (13,877) |
Unamortized Debt Issuance Expense | (48,972) | (48,540) |
Other | 6,833 | 6,570 |
Total Long-Term Debt | 5,812,791 | 6,144,071 |
Long-term Debt, Current Maturities | 200,198 | 675,002 |
Long Term Debt Excluding Amount Due Within One Year | 5,612,593 | 5,469,069 |
Fair Value of Long-Term Debt | 5,929,488 | 6,389,774 |
Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | (766) | (1,155) |
Unamortized Debt Issuance Expense | (13,318) | (13,723) |
Total Long-Term Debt | 1,120,916 | 1,270,122 |
Long-term Debt, Current Maturities | 0 | 0 |
Long Term Debt Excluding Amount Due Within One Year | 1,120,916 | 1,270,122 |
Fair Value of Long-Term Debt | 1,086,203 | 1,285,741 |
Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | (245) | (206) |
Unamortized Debt Issuance Expense | (8,595) | (8,054) |
Total Long-Term Debt | 448,994 | 436,870 |
Current payable due Entergy Louisiana | 2,104 | 2,077 |
Long Term Debt Noncurrent (Including Long Term Payable due to ELL) | 446,890 | 434,793 |
Long Term Debt Excluding Amount Due Within One Year | 428,467 | 418,447 |
Fair Value of Long-Term Debt | 455,459 | 455,968 |
Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | (1,579) | (1,498) |
Unamortized Debt Issuance Expense | (10,809) | (10,366) |
Other | 4,312 | 4,214 |
Total Long-Term Debt | 1,508,407 | 1,587,150 |
Long-term Debt, Current Maturities | 0 | 0 |
Long Term Debt Excluding Amount Due Within One Year | 1,508,407 | 1,587,150 |
Fair Value of Long-Term Debt | 1,600,156 | 1,661,902 |
System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Premium and Discount - Net | (503) | (415) |
Unamortized Debt Issuance Expense | (1,727) | (1,455) |
Other | 3 | 2 |
Total Long-Term Debt | 551,132 | 551,488 |
Long-term Debt, Current Maturities | 50,003 | 85,004 |
Long Term Debt Excluding Amount Due Within One Year | 501,129 | 466,484 |
Fair Value of Long-Term Debt | 529,520 | 529,119 |
Value of lease obligation excluded from fair value of long-term debt calculation. | $ 34,000 | |
Mortgage Bonds Current 2018-2022 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 4.39% | |
Long-term Debt, Gross | $ 2,550,000 | $ 2,550,000 |
Mortgage Bonds Current 2018-2022 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 2.55% |
Mortgage Bonds Current 2018-2022 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | 7.125% |
Mortgage Bonds 2023-2027 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 3.72% | |
Long-term Debt, Gross | $ 3,765,000 | $ 4,735,000 |
Mortgage Bonds 2023-2027 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 2.40% |
Mortgage Bonds 2023-2027 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.59% |
Mortgage Bonds 2028-2031 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 3.06% | |
Long-term Debt, Gross | $ 1,125,000 | $ 1,125,000 |
Mortgage Bonds 2028-2031 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.85% | 2.85% |
Mortgage Bonds 2028-2031 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% |
Mortgage Bonds 2044-2066 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 5.00% | |
Long-term Debt, Gross | $ 2,960,000 | $ 2,960,000 |
Mortgage Bonds 2044-2066 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% |
Mortgage Bonds 2044-2066 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 5.625% |
Mortgage Bonds 2.40% Series Due October 2026 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 2.40% |
Long-term Debt, Gross | $ 400,000 | $ 400,000 |
Mortgage Bonds, 2.55% Series Due June 2021 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.55% | 2.55% |
Long-term Debt, Gross | $ 125,000 | $ 125,000 |
Mortgage Bonds 2.85% Series Due June 2028 [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.85% | 2.85% |
Long-term Debt, Gross | $ 375,000 | $ 375,000 |
Mortgage Bonds Three Point Zero Five Percent Series Due June Two Thousand Thirty One [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% |
Long-term Debt, Gross | $ 325,000 | $ 325,000 |
Mortgage Bonds, 3.05% Series, Due June 2023 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.05% | 3.05% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 3.1% Series, Due July 2023 [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | 3.10% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 3.12% Series, Due September 2027 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.12% |
Long-term Debt, Gross | $ 0 | $ 450,000 |
Mortgage Bonds, 3.25% Series, Due April 2028 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 3.25% |
Long-term Debt, Gross | $ 425,000 | $ 425,000 |
Mortgage Bonds, 3.25% Series, Due December 2027 [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.25% |
Long-term Debt, Gross | $ 0 | $ 150,000 |
Mortgage Bonds, 3.3% Series, Due December 2022 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | 3.30% |
Long-term Debt, Gross | $ 200,000 | $ 200,000 |
Mortgage Bonds, 3.45% Series, Due December 2027 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.45% | 3.45% |
Long-term Debt, Gross | $ 0 | $ 150,000 |
Three Point Five Percent Series First Mortgage Bonds Due April Two Thousand Twenty Six [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 3.50% |
Long-term Debt, Gross | $ 380,000 | $ 600,000 |
Mortgage Bonds, 3.75% Series, Due February 2021 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
Long-term Debt, Gross | $ 350,000 | $ 350,000 |
Mortgage Bonds, 3.75% Series, Due July 2024 [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
Long-term Debt, Gross | $ 100,000 | $ 100,000 |
Mortgage Bonds 3.7% Series, Due June 2024 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | 3.70% |
Long-term Debt, Gross | $ 375,000 | $ 375,000 |
Mortgage Bonds, 3.78% Series, Due April 2025 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% |
Long-term Debt, Gross | $ 110,000 | $ 110,000 |
Mortgage Bonds, 3.78 % Series Due April 2025 (Legacy) [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% |
Long-term Debt, Gross | $ 190,000 | $ 190,000 |
Mortgage Bonds, 3.9% Series, Due July 2023 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | 3.90% |
Long-term Debt, Gross | $ 100,000 | $ 100,000 |
Mortgage Bonds, 3.95% Series, Due October 2020 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | 3.95% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 4.0% Series, Due June 2026 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% |
Long-term Debt, Gross | $ 85,000 | $ 85,000 |
Mortgage Bonds, 4.05% Series, Due September 2023 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.05% | 4.05% |
Long-term Debt, Gross | $ 325,000 | $ 325,000 |
Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% |
Long-term Debt, Gross | $ 260,000 | $ 260,000 |
Mortgage Bonds, 4.1% Series, Due April 2023 [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 4.1% Series, Due September 2021 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | 4.10% |
Long-term Debt, Gross | $ 75,000 | $ 75,000 |
Mortgage Bonds, 4.44% Series, Due January 2026 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.44% | 4.44% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 4.7% Series, Due June 2063 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% |
Long-term Debt, Gross | $ 100,000 | $ 100,000 |
Mortgage Bonds, 4.75% Series, Due June 2063 [Member] [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | 4.75% |
Long-term Debt, Gross | $ 125,000 | $ 125,000 |
Mortgage Bonds, 4.8% Series, Due May 2021 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.80% | 4.80% |
Long-term Debt, Gross | $ 200,000 | $ 200,000 |
Mortgage Bonds, Four Point Eight Seven Five Percent Series Due September Two Thousand Sixty Six [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 4.875% |
Long-term Debt, Gross | $ 410,000 | $ 410,000 |
Mortgage Bonds, Four Point Eight Seven Five Percent Series Due September Two Thousand Sixty Six [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | 4.875% |
Long-term Debt, Gross | $ 270,000 | $ 270,000 |
Mortgage Bonds, 4.9% Series, Due December 2052 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% |
Long-term Debt, Gross | $ 200,000 | $ 200,000 |
Mortgage Bonds, 4.95% Series, Due December 2044 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 4.95% Series, Due January 2045 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | 4.95% |
Long-term Debt, Gross | $ 450,000 | $ 450,000 |
Mortgage Bonds, 5.0% Series, Due July 2044 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% |
Long-term Debt, Gross | $ 170,000 | $ 170,000 |
Mortgage Bonds, 5.0% Series, Due December 2052 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% |
Long-term Debt, Gross | $ 30,000 | $ 30,000 |
Mortgage Bonds Five Point One Five Percent Series Due June Two Thousand Forty Five [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | 5.15% |
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Mortgage Bonds, 5.10% Series, Due December 2020 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.10% | 5.10% |
Long-term Debt, Gross | $ 25,000 | $ 25,000 |
Mortgage Bonds, 5.25% Series, Due July 2052 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | 5.25% |
Long-term Debt, Gross | $ 200,000 | $ 200,000 |
Mortgage Bonds, 5.40% Series, Due November 2024 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% |
Long-term Debt, Gross | $ 400,000 | $ 400,000 |
Mortgage Bonds, 5.5% Series, Due April 2066 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% |
Long-term Debt, Gross | $ 110,000 | $ 110,000 |
Mortgage Bonds, 5.625% Series, Due June 2064 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.625% | 5.625% |
Long-term Debt, Gross | $ 135,000 | $ 135,000 |
Mortgage Bonds, 5.59% Series, Due October 2024 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.59% | 5.59% |
Long-term Debt, Gross | $ 300,000 | $ 300,000 |
Mortgage Bonds, 6.0% Series, Due May 2018 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% |
Long-term Debt, Gross | $ 375,000 | $ 375,000 |
Mortgage Bonds, 6.50%, Due September 2018 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | 6.50% |
Long-term Debt, Gross | $ 300,000 | $ 300,000 |
Mortgage Bonds, 6.64% Series, Due July 2019 [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.64% | 6.64% |
Long-term Debt, Gross | $ 150,000 | $ 150,000 |
Mortgage Bonds, 7.125% Series, Due February 2019 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | 7.125% |
Long-term Debt, Gross | $ 500,000 | $ 500,000 |
Mortgage Bonds [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 2,340,000 | 2,560,000 |
Mortgage Bonds [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 5,240,000 | 5,690,000 |
Mortgage Bonds [Member] | Entergy Mississippi [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 1,135,000 | 1,285,000 |
Mortgage Bonds [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 350,000 | 350,000 |
Mortgage Bonds [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 1,085,000 | 1,235,000 |
Mortgage Bonds [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 250,000 | $ 250,000 |
Governmental Bonds 2017-2022 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 5.20% | |
Debt Instrument, Interest Rate, Stated Percentage | 1.55% | |
Long-term Debt, Gross | $ 233,700 | $ 179,000 |
Governmental Bonds 2017-2022 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | |
Governmental Bonds 2017-2022 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | 5.875% |
Governmental Bonds 2028-2030 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 3.45% | |
Long-term Debt, Gross | $ 198,680 | $ 198,680 |
Governmental Bonds 2028-2030 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% |
Governmental Bonds 2028-2030 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% |
Governmental Bonds, 1.55% Series, Due 2017, Jefferson County [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.55% | 1.55% |
Long-term Debt, Gross | $ 54,700 | $ 0 |
Governmental Bonds, 2.38% Series, Due 2021, One Independence County [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 45,000 | $ 45,000 |
Governmental Bonds Two Point Three Seven Five Percent Series Due Two Thousand Twenty One Independence County [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | 2.375% |
Governmental Bonds, 3.50% Series, Due 2030, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% |
Long-term Debt, Gross | $ 115,000 | $ 115,000 |
Governmental Bonds, 5.875% Series, Due 2022, Mississippi Business Finance Corp. [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | 5.875% |
Long-term Debt, Gross | $ 134,000 | $ 134,000 |
Governmental Bonds, 3.375% Series, Due 2028, Louisiana Public Facilities Authority [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% |
Long-term Debt, Gross | $ 83,680 | $ 83,680 |
Governmental Bonds [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 99,700 | 45,000 |
Governmental Bonds [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 198,680 | 198,680 |
Governmental Bonds [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 134,000 | $ 134,000 |
Securitization Bonds 2018-2027 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 3.79% | |
Long-term Debt, Gross | $ 669,310 | $ 551,499 |
Securitization Bonds 2018-2027 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% |
Securitization Bonds 2018-2027 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% |
VIE Notes Payable 2017-2023 [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 3.48% | |
Long-term Debt, Gross | $ 555,000 | $ 345,000 |
VIE Notes Payable 2017-2023 [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.62% | 3.17% |
VIE Notes Payable 2017-2023 [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.02% | 3.92% |
Variable Interest Entity Notes Payable, 2.62% Series K, Due December 2017 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.62% | 0.00% |
Long-term Debt, Gross | $ 60,000 | $ 0 |
Variable Interest Entity Notes Payable, 3.17% Series M, Due December 2023 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.17% | 3.17% |
Long-term Debt, Gross | $ 40,000 | $ 40,000 |
Variable Interest Entity Notes Payable, 3.25% Series Q, Due July 2017 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 0.00% |
Long-term Debt, Gross | $ 75,000 | $ 0 |
Variable Interest Entity Notes Payable, 3.25% Series G, Due July 2017 [Member | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | 0.00% |
Long-term Debt, Gross | $ 25,000 | $ 0 |
Variable Interest Entity Notes Payable, 3.22 % Series I, Due December 2023 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.22% | 3.22% |
Long-term Debt, Gross | $ 20,000 | $ 20,000 |
Variable Interest Entity Notes Payable, 3.38% Series R, Due August 2020 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.38% | 3.38% |
Long-term Debt, Gross | $ 70,000 | $ 70,000 |
Variable Interest Entity Notes Payable, 3.65% Series L, Due July 2021 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | 3.65% |
Long-term Debt, Gross | $ 90,000 | $ 90,000 |
Variable Interest Entity Notes Payable, 3.78% Series I, Due October 2018 [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.78% | 3.78% |
Long-term Debt, Gross | $ 85,000 | $ 85,000 |
Credit Facility due May 2019, weighted avg rate 2.87% [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.87% |
Long-term Debt, Gross | $ 0 | $ 24,900 |
Credit Facility due May 2019, weighted avg rate 2.64% [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.64% |
Long-term Debt, Gross | $ 0 | $ 36,360 |
Credit Facility due May 2019, weighted avg rate 2.52% [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.52% |
Long-term Debt, Gross | $ 0 | $ 50,000 |
Credit Facility due May 2019, weighted avg rate 2.38% [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.38% |
Long-term Debt, Gross | $ 0 | $ 65,650 |
Variable Interest Entity Notes Payable, Three Point Ninety Two Percent Series H Due February Two Thousand Twenty One [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.92% | 3.92% |
Long-term Debt, Gross | $ 40,000 | $ 40,000 |
Variable Interest Entity Notes Payable, 4.02% Series H, Due February Two Thousand Seventeen [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.02% | 0.00% |
Long-term Debt, Gross | $ 50,000 | $ 0 |
Variable Interest Entity Notes Payable [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 190,000 | 154,900 |
Variable Interest Entity Notes Payable [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 230,000 | 232,010 |
Variable Interest Entity Notes Payable [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 135,000 | $ 135,000 |
Securitization Bonds, 2.04% Series Senior Secured, Due September 2023 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.04% | 2.04% |
Long-term Debt, Gross | $ 100,972 | $ 79,228 |
Securitization Bonds, 2.30% Series Senior Secured, Due August 2021 [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% |
Long-term Debt, Gross | $ 49,548 | $ 35,764 |
Securitization Bonds, 2.67% Series Senior Secured, Due June 2024 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.67% | 2.67% |
Long-term Debt, Gross | $ 87,307 | $ 76,707 |
Securitization Bonds, 3.65% Series Senior Secured, Due August 2019 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | 3.65% |
Long-term Debt, Gross | $ 74,899 | $ 30,769 |
Securitization Bonds, 4.38% Series Senior Secured, Due November 2023 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.38% | 4.38% |
Long-term Debt, Gross | $ 218,600 | $ 218,600 |
Securitization Bonds, 5.79% Series Senior Secured, Series A, Due October 2018 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.79% | 5.79% |
Long-term Debt, Gross | $ 23,584 | $ 0 |
Securitization Bonds, 5.93% Series Senior Secured, Series A, Due June 2022 [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.93% | 5.93% |
Long-term Debt, Gross | $ 114,400 | $ 110,431 |
Securitization Bonds [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 49,548 | 35,764 |
Securitization Bonds [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 100,972 | 79,228 |
Securitization Bonds [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 87,307 | 76,707 |
Securitization Bonds [Member] | Entergy Texas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 431,483 | $ 359,800 |
Entergy Corporation Notes Due September 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% |
Long-term Debt, Gross | $ 450,000 | $ 450,000 |
Entergy Corporation Notes Due July Two Thousand Twenty Two [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% |
Long-term Debt, Gross | $ 650,000 | $ 650,000 |
Entergy Corporation Notes Due September Two Thousand Twenty Six [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | 2.95% |
Long-term Debt, Gross | $ 750,000 | $ 750,000 |
Vermont Yankee Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.17% | 2.64% |
Long-term Debt, Gross | $ 44,500 | $ 103,500 |
5 Year Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.23% | 2.55% |
Long-term Debt, Gross | $ 700,000 | $ 210,000 |
Entergy Arkansas VIE Credit Facility [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.87% |
Long-term Debt, Gross | $ 0 | $ 24,900 |
Entergy Louisiana River Bend VIE Credit Facility [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.38% |
Long-term Debt, Gross | $ 0 | $ 65,650 |
Entergy Louisiana Waterford VIE Credit Facility [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.64% |
Long-term Debt, Gross | $ 0 | $ 36,360 |
System Energy VIE Credit Facility [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 2.52% |
Long-term Debt, Gross | $ 0 | $ 50,000 |
Long-Term DOE Obligation [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 181,853 | 183,435 |
Long-Term DOE Obligation [Member] | Entergy Arkansas [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 181,853 | $ 183,435 |
Waterford 3 Lease Obligation [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.09% | 0.00% |
Long-term Debt, Gross | $ 57,492 | $ 0 |
Waterford 3 Lease Obligation [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.09% | |
Long-term Debt, Gross | $ 57,492 | 0 |
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | 42,703 | 0 |
Waterford Series Collateral Trust Mortgage Notes due 2017 [Member] | Entergy Louisiana [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 42,703 | $ 0 |
Implicit interest rate | 7.458% | |
Grand Gulf Lease Obligation [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.13% | 5.13% |
Long-term Debt, Gross | $ 34,359 | $ 34,356 |
Grand Gulf Lease Obligation, 5.13% [Member] | System Energy [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.13% | 5.13% |
Long-term Debt, Gross | $ 34,359 | $ 34,356 |
Payable to Entergy Louisiana due November 2035 [Member] | Entergy New Orleans [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 20,527 | $ 18,423 |
Long - Term Debt (Schedule Of M
Long - Term Debt (Schedule Of Maturities Of Long-term Debt) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Year One | $ 760,000 |
Year Two | 857,679 |
Year Three | 898,500 |
Year Four | 960,764 |
Year Five | 1,304,431 |
Entergy Arkansas [Member] | |
Year One | 0 |
Year Two | 24,900 |
Year Three | 0 |
Year Four | 520,764 |
Year Five | 0 |
Entergy Louisiana [Member] | |
Year One | 675,000 |
Year Two | 102,010 |
Year Three | 320,000 |
Year Four | 240,000 |
Year Five | 200,000 |
Entergy Mississippi [Member] | |
Year One | 0 |
Year Two | 150,000 |
Year Three | 0 |
Year Four | 0 |
Year Five | 0 |
Entergy New Orleans [Member] | |
Year One | 2,077 |
Year Two | 1,979 |
Year Three | 26,838 |
Year Four | 1,618 |
Year Five | 1,326 |
Entergy Texas [Member] | |
Year One | 0 |
Year Two | 530,769 |
Year Three | 0 |
Year Four | 200,000 |
Year Five | 110,431 |
System Energy [Member] | |
Year One | 85,000 |
Year Two | 50,000 |
Year Three | 0 |
Year Four | 0 |
Year Five | $ 134,000 |
Long - Term Debt (Schedule Of S
Long - Term Debt (Schedule Of Senior Secured Transition Bonds) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Nov. 30, 2009 | Jun. 30, 2007 | |
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 544,921 | $ 661,175 | ||
Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 358,104 | 429,043 | ||
Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 329,500 | $ 329,500 | ||
Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | 545,900 | $ 545,900 | ||
Tranche A-1 (2.12%) Due February 2016 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 182,500 | |||
Coupon rate of senior secured transition bonds | 2.12% | |||
Tranche A-1 (5.51%) Due October 2013 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 93,500 | |||
Coupon rate of senior secured transition bonds | 5.51% | |||
Tranche A-2 (3.65%) Due August 2019 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 144,800 | |||
Coupon rate of senior secured transition bonds | 3.65% | |||
Tranche A-2 (5.79%) Due October 2018 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 121,600 | |||
Coupon rate of senior secured transition bonds | 5.79% | |||
Tranche A-3 (5.93%) Due June 2022 [Member] | Hurricane Rita [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 114,400 | |||
Coupon rate of senior secured transition bonds | 5.93% | |||
Tranche A-3 (4.38%) Due November 2023 [Member] | Hurricane Ike And Hurricane Gustav [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Bonds issued to recover cost | $ 218,600 | |||
Coupon rate of senior secured transition bonds | 4.38% | |||
Securitization Bonds, 5.93% Series Senior Secured, Series A, Due June 2022 [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 110,431 | 114,400 | ||
Securitization Bonds, 3.65% Series Senior Secured, Due August 2019 [Member] | Entergy Texas [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 30,769 | $ 74,899 |
Preferred Equity (Narratives) (
Preferred Equity (Narratives) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Nov. 30, 2017 | Oct. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 20,599,000 | $ 115,283,000 | $ 94,285,000 | |||
Entergy Arkansas [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 85,283,000 | 0 | |||
Entergy Louisiana [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | 110,286,000 | |||
Entergy Mississippi [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 30,000,000 | 0 | |||
Entergy New Orleans [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 20,599,000 | $ 0 | $ 0 | |||
Preferred Stock, 8.75% Rate [Member] | Entergy Finance Holding Inc [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Preferred stock/preferred membership interests rate | 8.75% | 8.75% | ||||
Temporary Equity, Shares Issued | 250,000 | |||||
Temporary Equity, Par Value | $ 100 | |||||
Temporary Equity, Redemption Price Per Share | $ 100 | |||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 751,000 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 6,000,000 | |||||
Preferred stock/preferred membership interests rate | 4.36% | 4.36% | ||||
Preferred Stock, Cumulative $100 Par Value, 4.75% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 7,800,000 | |||||
Preferred stock/preferred membership interests rate | 4.75% | 4.75% | ||||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | ||||
Temporary Equity, Shares Issued | 110,000 | |||||
Temporary Equity, Par Value | $ 1,000 | |||||
Temporary Equity, Redemption Price Per Share | $ 1,000 | |||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575,000 | |||||
Preferred Stock, Cumulative $1,000 Par Value 6.25% Series [Domain] | Entergy Utility Holding Company LLC [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Preferred stock/preferred membership interests rate | 6.25% | 6.25% | ||||
Temporary Equity, Shares Issued | 15,000 | |||||
Temporary Equity, Par Value | $ 1,000 | |||||
Temporary Equity, Redemption Price Per Share | $ 1,000 | |||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 602,000 | |||||
Preferred Stock, Cumulative $100 Par Value, 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Equity [Line Items] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 6,000,000 | |||||
Preferred stock/preferred membership interests rate | 5.56% | 5.56% |
Preferred Equity (Schedule Of N
Preferred Equity (Schedule Of Number Of Shares And Units Authorized And Outstanding And Dollar Value Of Preferred Stock) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Nov. 30, 2017 | Oct. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Payments for Repurchase of Preferred Stock and Preference Stock | $ 20,599,000 | $ 115,283,000 | $ 94,285,000 | |||
Preferred Stock, Shares Authorized | 892,307 | 1,075,105 | ||||
Preferred Stock, Shares Outstanding | 892,307 | 1,075,105 | ||||
Preferred Stock, Value | $ 197,803,000 | $ 203,185,000 | ||||
Preferred Shares/Units, Authorized | 642,307 | 825,105 | ||||
Preferred Shares/Units, Outstanding | 642,307 | 825,105 | ||||
Preferred Shares/Units, Value | $ 173,554,000 | $ 178,936,000 | ||||
Entergy Arkansas [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 85,283,000 | 0 | |||
Preferred Stock, Shares Outstanding | 313,500 | 313,500 | ||||
Preferred Stock, Value | $ 31,350,000 | $ 31,350,000 | ||||
Entergy Louisiana [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | 0 | 0 | 110,286,000 | |||
Entergy Mississippi [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 0 | $ 30,000,000 | 0 | |||
Preferred Stock, Shares Outstanding | 203,807 | 203,807 | ||||
Preferred Stock, Value | $ 20,381,000 | $ 20,381,000 | ||||
Entergy New Orleans [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 20,599,000 | $ 0 | $ 0 | |||
Preferred Stock, Shares Outstanding | 0 | 197,798 | ||||
Preferred Stock, Value | $ 0 | $ 19,780,000 | ||||
Preferred Stock, 4.32% - 4.72% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Shares/Units, Authorized | 313,500 | 313,500 | ||||
Preferred Shares/Units, Outstanding | 313,500 | 313,500 | ||||
Preferred Shares/Units, Value | $ 31,350,000 | $ 31,350,000 | ||||
Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred Shares/Units, Authorized | 0 | 197,798 | ||||
Preferred Shares/Units, Outstanding | 0 | 197,798 | ||||
Preferred Shares/Units, Value | $ 0 | $ 19,780,000 | ||||
Preferred Stock, 4.36% - 4.92% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Shares/Units, Authorized | 203,807 | 203,807 | ||||
Preferred Shares/Units, Outstanding | 203,807 | 203,807 | ||||
Preferred Shares/Units, Value | $ 20,381,000 | $ 20,381,000 | ||||
Preferred Stock, 8.75% Rate [Member] | Entergy Finance Holding Inc [Member] | ||||||
Preferred Stock, Shares Authorized | 250,000 | 250,000 | ||||
Preferred Stock, Shares Outstanding | 250,000 | 250,000 | ||||
Preferred Stock, Value | $ 24,249,000 | $ 24,249,000 | ||||
Preferred stock/preferred membership interests rate | 8.75% | 8.75% | ||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 751,000 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.32% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 70,000 | 70,000 | ||||
Preferred Stock, Value | $ 7,000,000 | $ 7,000,000 | ||||
Preferred Stock, Call Price per Share | $ 103.65 | |||||
Preferred stock/preferred membership interests rate | 4.32% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.72% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 93,500 | 93,500 | ||||
Preferred Stock, Value | $ 9,350,000 | $ 9,350,000 | ||||
Preferred Stock, Call Price per Share | $ 107 | |||||
Preferred stock/preferred membership interests rate | 4.72% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 59,920 | 59,920 | ||||
Preferred Stock, Value | $ 5,992,000 | $ 5,992,000 | ||||
Preferred Stock, Call Price per Share | $ 103.86 | |||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.36% Series [Member] | Entergy New Orleans [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 6,000,000 | |||||
Preferred Stock, Shares Outstanding | 0 | 60,000 | ||||
Preferred Stock, Value | $ 0 | $ 6,000,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 4.36% | 4.36% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 75,000 | 75,000 | ||||
Preferred Stock, Value | $ 7,500,000 | $ 7,500,000 | ||||
Preferred Stock, Call Price per Share | $ 102.83 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 43,887 | 43,887 | ||||
Preferred Stock, Value | $ 4,389,000 | $ 4,389,000 | ||||
Preferred Stock, Call Price per Share | $ 107 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Cumulative $100 Par Value, 4.56% 1965 Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred Stock, Shares Outstanding | 75,000 | 75,000 | ||||
Preferred Stock, Value | $ 7,500,000 | $ 7,500,000 | ||||
Preferred Stock, Call Price per Share | $ 102.50 | |||||
Preferred stock/preferred membership interests rate | 4.56% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 4.92% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred Stock, Shares Outstanding | 100,000 | 100,000 | ||||
Preferred Stock, Value | $ 10,000,000 | $ 10,000,000 | ||||
Preferred Stock, Call Price per Share | $ 102.88 | |||||
Preferred stock/preferred membership interests rate | 4.92% | |||||
Preferred Stock, Cumulative $100 Par Value, 4.75% Series [Member] | Entergy New Orleans [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 7,800,000 | |||||
Preferred Stock, Shares Outstanding | 0 | 77,798 | ||||
Preferred Stock, Value | $ 0 | $ 7,780,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 4.75% | 4.75% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative $100 Par Value, 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Payments for Repurchase of Preferred Stock and Preference Stock | $ 6,000,000 | |||||
Preferred Stock, Shares Outstanding | 0 | 60,000 | ||||
Preferred Stock, Value | $ 0 | $ 6,000,000 | ||||
Preferred Stock, Call Price per Share | $ 0 | |||||
Preferred stock/preferred membership interests rate | 5.56% | 5.56% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 100 | |||||
Preferred Stock, Cumulative One Thousand Dollar Par Value, Seven Point Five Percent Series [Member] | Entergy Utility Holding Company LLC [Member] | ||||||
Preferred Shares/Units, Authorized | 110,000 | 110,000 | ||||
Preferred Shares/Units, Outstanding | 110,000 | 110,000 | ||||
Preferred Shares/Units, Value | $ 107,425,000 | $ 107,425,000 | ||||
Preferred stock/preferred membership interests rate | 7.50% | 7.50% | ||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 2,575,000 | |||||
Preferred Stock, Cumulative $1,000 Par Value 6.25% Series [Domain] | Entergy Utility Holding Company LLC [Member] | ||||||
Preferred Shares/Units, Authorized | 15,000 | 0 | ||||
Preferred Shares/Units, Outstanding | 15,000 | 0 | ||||
Preferred Shares/Units, Value | $ 14,398,000 | $ 0 | ||||
Preferred stock/preferred membership interests rate | 6.25% | 6.25% | ||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 602,000 | |||||
Minimum [Member] | Preferred Stock, 4.32% - 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.32% | |||||
Minimum [Member] | Preferred Stock, 4.36% - 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Minimum [Member] | Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.36% | |||||
Maximum [Member] | Preferred Stock, 4.32% - 6.45% Series [Member] | Entergy Arkansas [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.72% | |||||
Maximum [Member] | Preferred Stock, 4.36% - 6.25% Series [Member] | Entergy Mississippi [Member] | ||||||
Preferred stock/preferred membership interests rate | 4.92% | |||||
Maximum [Member] | Preferred Stock, 4.36% - 5.56% Series [Member] | Entergy New Orleans [Member] | ||||||
Preferred stock/preferred membership interests rate | 5.56% |
Common Equity (Narrative) (Deta
Common Equity (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2010USD ($) | Dec. 31, 2017USD ($)plan$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares | |
Number of equity ownership plans | plan | 3 | |||
Authorization of repurchase of common stock | $ 500,000 | $ 350,000 | ||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 3.50 | $ 3.42 | $ 3.34 | |
Dividend payments received from subsidiaries | $ 201,000 | $ 165,000 | $ 615,000 | |
Dividends, Common Stock, Cash | 628,885 | 611,835 | 598,897 | |
Entergy Arkansas [Member] | ||||
Dividends, Common Stock, Cash | $ 15,000 | |||
Ratio of Common Stock Equity to Total Capitalization Which Could Result In Restriction of Dividends | 25.00% | |||
Entergy Mississippi [Member] | ||||
Dividends, Common Stock, Cash | $ 26,000 | 24,000 | 40,000 | |
Ratio of Common Stock Equity to Total Capitalization Which Could Result In Restriction of Dividends | 25.00% | |||
System Energy [Member] | ||||
Dividends, Common Stock, Cash | $ 106,610 | 139,000 | 200,750 | |
Common Stock [Member] | ||||
Dividends, Common Stock, Cash | 0 | 0 | 0 | |
Common Stock [Member] | Entergy Arkansas [Member] | ||||
Dividends, Common Stock, Cash | 0 | |||
Common Stock [Member] | Entergy Mississippi [Member] | ||||
Dividends, Common Stock, Cash | 0 | 0 | 0 | |
Common Stock [Member] | System Energy [Member] | ||||
Dividends, Common Stock, Cash | $ 21,000 | $ 40,000 | $ 70,000 |
Common Equity (Common Stock And
Common Equity (Common Stock And Treasury Stock Shares Activity) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Common Stock [Member] | |||
Common Stock And Treasury Stock [Roll Forward] | |||
Beginning Balance | 254,752,788 | 254,752,788 | 254,752,788 |
Ending Balance | 254,752,788 | 254,752,788 | 254,752,788 |
Treasury Stock [Member] | |||
Common Stock And Treasury Stock [Roll Forward] | |||
Beginning Balance | 75,623,363 | 76,363,763 | 75,512,079 |
Repurchases | 0 | 0 | 1,468,984 |
Employee Stock-Based Compensation Plans | (1,377,363) | (729,073) | (610,409) |
Directors' Plan | (10,865) | (11,327) | (6,891) |
Ending Balance | 74,235,135 | 75,623,363 | 76,363,763 |
Common Equity (Changes in Accum
Common Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | $ 11,440 | $ (43,922) | $ 51,258 |
Amounts reclassified from accumulated other comprehensive income (loss) | (83,484) | (171,850) | |
Other comprehensive income (loss) before reclassifications | 94,924 | 127,928 | |
Accumulated other comprehensive loss, Beginning Balance | (23,531) | (34,971) | 8,951 |
Cash flow hedges net unrealized gain (loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (41,470) | (101,977) | |
Amounts reclassified from accumulated other comprehensive income (loss) | (70,072) | (189,717) | |
Other comprehensive income (loss) before reclassifications | 28,602 | 87,740 | |
Accumulated other comprehensive loss, Beginning Balance | (37,477) | 3,993 | 105,970 |
Pension and other postretirement liabilities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (61,653) | (2,842) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 42,376 | 24,155 | |
Other comprehensive income (loss) before reclassifications | (104,029) | (26,997) | |
Accumulated other comprehensive loss, Beginning Balance | (531,099) | (469,446) | (466,604) |
Net unrealized investment gains [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 115,311 | 62,177 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (55,788) | (6,288) | |
Other comprehensive income (loss) before reclassifications | 171,099 | 68,465 | |
Accumulated other comprehensive loss, Beginning Balance | 545,045 | 429,734 | 367,557 |
Foreign currency translation [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | (748) | (1,280) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | |
Other comprehensive income (loss) before reclassifications | (748) | (1,280) | |
Accumulated other comprehensive loss, Beginning Balance | 0 | 748 | 2,028 |
Entergy Louisiana [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 2,042 | 7,970 | 22,811 |
Accumulated other comprehensive loss, Beginning Balance | (46,400) | (48,442) | |
Entergy Louisiana [Member] | Pension and other postretirement liabilities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net other comprehensive income (loss) for the period | 2,042 | 7,970 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (1,420) | (956) | |
Other comprehensive income (loss) before reclassifications | 3,462 | 8,926 | |
Accumulated other comprehensive loss, Beginning Balance | $ (46,400) | $ (48,442) | $ (56,412) |
Common Equity (Reclassification
Common Equity (Reclassifications from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | $ (1,045) | |||||||||||||
Miscellaneous - net | $ (12,701) | (41,617) | $ (95,997) | |||||||||||
Total reclassifications before taxes | 967,923 | (1,381,762) | (799,661) | |||||||||||
Investment Income, Net | 288,197 | 145,127 | 187,062 | |||||||||||
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) | |||||||||||
Consolidated net income (loss) | $ (475,710) | $ 401,644 | $ 413,368 | $ 86,051 | $ (1,765,539) | $ 393,204 | $ 572,590 | $ 235,242 | 425,353 | [1] | (564,503) | [1] | (156,734) | [1] |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Consolidated net income (loss) | 83,484 | 171,850 | ||||||||||||
Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Total reclassifications before taxes | 107,803 | 291,873 | ||||||||||||
Income Tax Expense (Benefit) | 37,731 | 102,156 | ||||||||||||
Consolidated net income (loss) | 70,072 | 189,717 | ||||||||||||
Pension and other postretirement liabilities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Total reclassifications before taxes | (67,295) | (34,331) | ||||||||||||
Amortization of prior service cost/(credit) | 26,251 | 29,414 | ||||||||||||
Acceleration of prior service cost due to curtailment | 0 | (1,045) | ||||||||||||
Amortization of net loss | (86,002) | (60,693) | ||||||||||||
Settlement loss | (7,544) | (2,007) | ||||||||||||
Income Tax Expense (Benefit) | (24,919) | (10,176) | ||||||||||||
Consolidated net income (loss) | (42,376) | (24,155) | ||||||||||||
Net unrealized investment gains [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Investment Income, Net | 109,388 | 12,329 | ||||||||||||
Income Tax Expense (Benefit) | 53,600 | 6,041 | ||||||||||||
Consolidated net income (loss) | 55,788 | 6,288 | ||||||||||||
Power Contract [Member] | Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Revenues | 108,606 | 293,268 | ||||||||||||
Interest Rate Swap [Member] | Cash flow hedges net unrealized gain (loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Miscellaneous - net | (803) | (1,395) | ||||||||||||
Entergy Louisiana [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Miscellaneous - net | (11,960) | (11,597) | (13,190) | |||||||||||
Total reclassifications before taxes | 801,645 | 711,781 | 625,310 | |||||||||||
Investment Income, Net | 164,550 | 154,778 | 150,168 | |||||||||||
Income Tax Expense (Benefit) | 485,298 | 89,734 | 178,671 | |||||||||||
Consolidated net income (loss) | $ (88,794) | $ 186,284 | $ 124,479 | $ 94,378 | $ 67,610 | $ 189,506 | $ 253,325 | $ 111,606 | 316,347 | 622,047 | $ 446,639 | |||
Entergy Louisiana [Member] | Pension and other postretirement liabilities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||||||||||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 7,734 | 7,786 | ||||||||||||
Total reclassifications before taxes | 2,407 | 1,505 | ||||||||||||
Defined Benefit Plan, Amortization of Gains (Losses) | (5,327) | (6,281) | ||||||||||||
Income Tax Expense (Benefit) | 987 | 549 | ||||||||||||
Consolidated net income (loss) | $ 1,420 | $ 956 | ||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Commitments And Contingencies85
Commitments And Contingencies (Narrative) (Details) | Jan. 01, 2018 | Jun. 30, 2016USD ($) | Dec. 31, 2017USD ($)claimMW | Jun. 30, 2017USD ($) | May 31, 2017USD ($) | Jan. 31, 2017USD ($) | Nov. 30, 2016USD ($) | Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Aug. 31, 2016USD ($) | Jul. 31, 2016USD ($) | Jun. 30, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Oct. 31, 2015USD ($) | Feb. 28, 2014USD ($) | Nov. 30, 2013USD ($) | Dec. 31, 2017USD ($)programclaimplaintiffreactorMW | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) |
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Payment Period | 364 days | ||||||||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Final Payment Period | 406 days | ||||||||||||||||||||||
Proceeds from insurance | $ 26,157,000 | $ 20,968,000 | $ 24,399,000 | ||||||||||||||||||||
Number of financial protection programs | program | 2 | ||||||||||||||||||||||
Insurance coverage for public liability by American Nuclear Insurers | $ 450,000,000 | $ 450,000,000 | |||||||||||||||||||||
Maximum retrospective insurance premium obligation per reactor per incident | 127,300,000 | 127,300,000 | |||||||||||||||||||||
Maximum retrospective insurance premium obligation per incident | 1,146,000,000 | 1,146,000,000 | |||||||||||||||||||||
Rate of maximum retrospective premium per year per nuclear power reactor | $ 19,000,000 | 19,000,000 | |||||||||||||||||||||
ANI combined with Secondary Financial Protection Coverage | 13,000,000,000 | ||||||||||||||||||||||
Additional damage coverage for a terrorist event | $ 100,000,000,000 | ||||||||||||||||||||||
Number of nuclear reactor included in the Secondary Financial Protection program | reactor | 102 | ||||||||||||||||||||||
Total premium for reactor under secondary financial protection program | $ 13,000,000,000 | ||||||||||||||||||||||
Maximum recovery nuclear insurance policies for property damage caused by Terrorist Act | 3,240,000,000 | ||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | ||||||||||||||||||||||
Minimum value of power plants, substations to be covered under conventional property insurance | 5,000,000 | ||||||||||||||||||||||
Purchase of terrorism insurance coverage | 300,000,000 | ||||||||||||||||||||||
Amount of additional insurance coverage per occurrence | $ 20,000,000 | ||||||||||||||||||||||
Number of asbestos lawsuits | claim | 200 | 200 | |||||||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 500 | ||||||||||||||||||||||
Reduction in fee Entergy’s nuclear owner/licensee subsidiaries have been charged related to spent nuclear fuel storage | $ 0 | ||||||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Period has Passed | 100.00% | ||||||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Second Period has Passed | 80.00% | ||||||||||||||||||||||
Insurance coverage for public liability prior to January 1, 2017 | $ 375,000,000 | $ 375,000,000 | |||||||||||||||||||||
Accidental Outage Coverage Weekly Indemnity Second Payment Period | 364 days | ||||||||||||||||||||||
Percentage of Weekly Indemnity Paid After Deductible Final Period has Passed | 80.00% | ||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 2,915,795,000 | 158,031,000 | 61,241,000 | ||||||||||||||||||||
Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Capacity Supply Obligations in ISO New England | MW | 677 | 677 | |||||||||||||||||||||
Grand Gulf [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Ownership percentage by a non-affiliated company | 10.00% | ||||||||||||||||||||||
Indian Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | $ 500,000,000 | ||||||||||||||||||||||
Vermont Yankee [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Insurance coverage for public liability by American Nuclear Insurers | $ 100,000,000 | 100,000,000 | |||||||||||||||||||||
Operational Perils [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Self-insured retention per occurrence | 20,000,000 | ||||||||||||||||||||||
Earthquake and Flood [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 400,000,000 | ||||||||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | ||||||||||||||||||||||
Named Windstorm and Associated Storm Surge [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 125,000,000 | ||||||||||||||||||||||
Self-insured retention per occurrence | 40,000,000 | ||||||||||||||||||||||
Non-Nuclear and Non-Radioactive Damage [Member] | Vermont Yankee [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 50,000,000 | ||||||||||||||||||||||
Non-Nuclear and Non-Radioactive Damage [Member] | Pilgrim, Palisades, and Indian Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||||||||
Wind and Flood [Member] | Indian Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | ||||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | ||||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | ||||||||||||||||||||||
Accidental Outage Coverage Program [Member] | Nuclear Plants [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | 327,600,000 | |||||||||||||||||||||
Accidental Outage Coverage Program [Member] | Grand Gulf [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | 327,600,000 | |||||||||||||||||||||
Accidental Outage Coverage Program [Member] | Waterford 3 and Grand Gulf [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 327,600,000 | 327,600,000 | |||||||||||||||||||||
Flood, Earthquake and Volcanic Eruption [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||||||||
Wind, Flood, Earthquake and Volcanic Eruption [Member] | Vermont Yankee [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | ||||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | ||||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | ||||||||||||||||||||||
Wind [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | ||||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | ||||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | ||||||||||||||||||||||
Flood event [Member] | ANO and Grand Gulf [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||||||||
Flood event [Member] | River Bend and Waterford 3 [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||||||||||||||||||
Utility [Member] | Primary Layer [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 1,500,000,000 | 1,500,000,000 | |||||||||||||||||||||
Utility [Member] | Blanket Layer [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 100,000,000 | 100,000,000 | |||||||||||||||||||||
Utility [Member] | Earthquake and Volcanic Eruption [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Primary Insurance Layer Conditions Of Coverage | 500,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 718,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | FitzPatrick [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 742,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Palisades [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 859,000,000 | 558,000,000 | 859,000,000 | ||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Carrying Value of Nuclear Plant | 2,619,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Big Rock Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 500,000,000 | 500,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Indian Point [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 1,600,000,000 | 1,600,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Vermont Yankee [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | 50,000,000 | 50,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Primary Layer [Member] | Pilgrim and Palisades [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance insured amount per occurrence | $ 1,115,000,000 | 1,115,000,000 | |||||||||||||||||||||
Nuclear [Member] | Wind [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Property Insurance Deductible | $ 10,000,000 | ||||||||||||||||||||||
Percentage of Additional Property Insurance Deductible for Loss in Excess of Deductible | 10.00% | ||||||||||||||||||||||
Maximum Additional Property Insurance Deductible | $ 50,000,000 | ||||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Proceeds from insurance | $ 0 | 0 | 12,932,000 | ||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 33.00% | ||||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 17,000,000 | ||||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 31.30% | ||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||
Allocated amortization cost in percentage | 43.97% | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 405,395,000 | (2,986,000) | 9,172,000 | ||||||||||||||||||||
Entergy Texas [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Proceeds from insurance | $ 2,431,000 | 0 | 0 | ||||||||||||||||||||
Number of asbestos lawsuits | claim | 80 | 80 | |||||||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 410,968,000 | 2,106,000 | 1,271,000 | ||||||||||||||||||||
System Energy [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Number of nuclear power reactors | reactor | 1 | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 331,251,000 | 33,438,000 | (33,686,000) | ||||||||||||||||||||
System Energy [Member] | Grand Gulf [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 49,000,000 | ||||||||||||||||||||||
System Energy ownership in nuclear unit | 90.00% | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 16,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 9,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 19,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 5,000,000 | ||||||||||||||||||||||
Plant balance reduction | 11,000,000 | ||||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Number of asbestos lawsuits | claim | 80 | 80 | |||||||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 17.00% | ||||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 9,400,000 | ||||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 24.70% | ||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||
Allocated amortization cost in percentage | 29.80% | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 110,147,000 | (3,997,000) | (7,359,000) | ||||||||||||||||||||
Entergy New Orleans [Member] | Flood, Earthquake and Named Windstorm [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Maximum conventional property insurance coverage on an each and every loss basis | 50,000,000 | ||||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Payments made under purchased power agreement | $ 122,900,000 | 158,700,000 | 146,000,000 | ||||||||||||||||||||
Required energy for the production of Vidalia project in percentage | 94.00% | ||||||||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Next Twelve Months | $ 129,000,000 | $ 129,000,000 | |||||||||||||||||||||
Estimated Payments Under Purchased Power Agreement in Year Two and Thereafter | $ 1,680,000,000 | 1,680,000,000 | |||||||||||||||||||||
Credit rates agreed by subsidiary for each year under settlement related to tax benefits from tax treatment of purchased power agreement | $ 11,000,000 | ||||||||||||||||||||||
Number of years for which credit rates agreed by subsidiary under settlement related to tax benefits from the tax treatment of purchased power agreement | 10 years | ||||||||||||||||||||||
Amount of remaining benefits of tax credit by crediting rate payers | $ 20,235,000 | ||||||||||||||||||||||
Maximum period up to which remaining benefit of tax accounting election shared | 15 years | ||||||||||||||||||||||
Proceeds from insurance | $ 5,305,000 | 10,564,000 | 0 | ||||||||||||||||||||
Number of nuclear power reactors | reactor | 2 | ||||||||||||||||||||||
Number of asbestos lawsuits | claim | 80 | 80 | |||||||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 14.00% | ||||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 7,800,000 | ||||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 26.90% | ||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||
Allocated amortization cost in percentage | 26.23% | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 605,453,000 | 62,351,000 | 96,234,000 | ||||||||||||||||||||
Entergy Louisiana [Member] | Waterford 3 [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | 53,000,000 | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 41,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 10,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | $ 3,000,000 | ||||||||||||||||||||||
Entergy Louisiana [Member] | River Bend [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 600,000 | $ 5,000,000 | $ 42,000,000 | ||||||||||||||||||||
Damages awarded for previously capitalized costs | 17,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | $ 3,000,000 | 2,000,000 | |||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 2,000,000 | 23,000,000 | |||||||||||||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | ||||||||||||||||||||||
Plant balance reduction | $ 14,000,000 | ||||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Estimated cost to restore ANO to service | 95,000,000 | ||||||||||||||||||||||
Deferred Fuel and Purchased Energy Costs Excluded From Revised Energy Cost Rate | $ 65,900,000 | ||||||||||||||||||||||
Proceeds From Insurance Settlement, Operating and Investing Activities | $ 50,000,000 | ||||||||||||||||||||||
Proceeds from insurance | $ 0 | 10,404,000 | 11,654,000 | ||||||||||||||||||||
Number of nuclear power reactors | reactor | 2 | ||||||||||||||||||||||
Number of asbestos lawsuits | claim | 80 | 80 | |||||||||||||||||||||
Number of claimants in asbestos lawsuits | plaintiff | 600 | ||||||||||||||||||||||
Percentage of capacity and energy agreed to sell by system energy from grand gulf | 36.00% | ||||||||||||||||||||||
Average monthly payments under unit power sales agreement | $ 19,500,000 | ||||||||||||||||||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 17.10% | ||||||||||||||||||||||
Amortization period of cost | 27 years | ||||||||||||||||||||||
Incremental NRC Inspection Costs | 53,000,000 | ||||||||||||||||||||||
NRC inspection and performance improvement costs | 44,000,000 | ||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ 1,043,507,000 | $ 62,994,000 | $ (11,123,000) | ||||||||||||||||||||
Entergy Arkansas [Member] | ANO [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 31,000,000 | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 6,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 5,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded nuclear fuel expense | 19,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded taxes other than income taxes | 1,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
NRC inspection costs | 50,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point and Fitzpatrick [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 81,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 3 [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Damages awarded for previously capitalized costs | $ 45,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 8,000,000 | ||||||||||||||||||||||
Plant balance reduction | 37,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | FitzPatrick [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Damages awarded for previously capitalized costs | 32,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 1,000,000 | ||||||||||||||||||||||
Plant balance reduction | 10,000,000 | ||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | $ 0 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Palisades [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 14,000,000 | $ 21,000,000 | |||||||||||||||||||||
Damages awarded for previously capitalized costs | 11,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 3,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 1,000,000 | ||||||||||||||||||||||
Plant balance reduction | 10,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 2 [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 34,000,000 | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | 14,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 15,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded decommissioning expense | 3,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded taxes other than income taxes | 2,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | ||||||||||||||||||||||
Plant balance reduction | $ 11,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Vermont Yankee [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Litigation Settlement, Amount | $ 19,000,000 | ||||||||||||||||||||||
Damages awarded for previously capitalized costs | 15,000,000 | ||||||||||||||||||||||
Damages awarded for previously recorded operation and maintenance | 4,000,000 | ||||||||||||||||||||||
Reduction of previously recorded deprecation expense | 2,000,000 | ||||||||||||||||||||||
Reduction to operation and maintenance expense | $ 13,000,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Minimum [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Expected NRC inspection costs | $ 45,000,000 | 45,000,000 | |||||||||||||||||||||
Entergy Wholesale Commodities [Member] | Maximum [Member] | Pilgrim [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Expected NRC inspection costs | 60,000,000 | $ 60,000,000 | |||||||||||||||||||||
Vidalia Purchased Power Agreement [Member] | |||||||||||||||||||||||
Commitments And Contingencies [Line Items] | |||||||||||||||||||||||
Increase (Decrease) in Regulatory Liabilities | $ (30,500,000) |
Commitments And Contingencies86
Commitments And Contingencies (Maximum Amounts Of Possible Assessments Per Occurrence) (Details) - Insurance-related Assessments [Member] $ in Thousands | Dec. 31, 2017USD ($) |
Entergy Arkansas [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 40,300 |
Entergy Louisiana [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 49,400 |
Entergy Mississippi [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 110 |
Entergy New Orleans [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 110 |
System Energy [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 22,300 |
Entergy Wholesale Commodities [Member] | |
Commitments And Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 0 |
Asset Retirement Obligations (N
Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |||||||
Sep. 30, 2015 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Receivables recorded for beneficial interests in decommissioning trust funds | $ 1,500,000 | |||||||
Decommissioning Fund Investments | $ 7,211,993 | $ 5,723,897 | ||||||
Asset Retirement Obligation | 6,185,800 | 6,706,800 | $ 4,790,200 | |||||
Entergy Louisiana [Member] | ||||||||
Decommissioning Fund Investments | 1,312,073 | 1,140,707 | ||||||
Asset Retirement Obligation | 1,140,500 | 1,082,700 | 1,027,900 | |||||
System Energy [Member] | ||||||||
Reduction in decommissioning liability | $ 35,900 | |||||||
Decommissioning Fund Investments | 905,686 | 780,496 | ||||||
Asset Retirement Obligation | 861,700 | 854,200 | 803,400 | |||||
Entergy Wholesale Commodities [Member] | ||||||||
Asset Retirement Obligation | 3,183,300 | 3,827,400 | 2,069,500 | |||||
Entergy Arkansas [Member] | ||||||||
Decommissioning Fund Investments | 944,890 | 834,735 | ||||||
Asset Retirement Obligation | $ 981,200 | 924,400 | $ 872,300 | |||||
Vermont Yankee [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Spent Nuclear Fuel Obligation, Noncurrent | $ 225,000 | |||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | $ 335,000 | |||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000 | |||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | $ 204,000 | |||||||
FitzPatrick [Member] | NYPA [Member] | ||||||||
Decommissioning Fund Investments | 785,000 | |||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Reduction in decommissioning liability | $ 68,700 | |||||||
Increase in decommissioning liability | 129,000 | |||||||
Indian Point Energy Center Units [Member] | Entergy Wholesale Commodities [Member] | ||||||||
Increase in decommissioning liability | 392,000 | |||||||
Indian Point 3 [Member] | NYPA [Member] | ||||||||
Decommissioning Fund Investments | $ 719,000 |
Asset Retirement Obligations (D
Asset Retirement Obligations (Difference Between Estimated Incurred Removal Costs And Estimated Removal Costs Recovered In Rates) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Entergy Arkansas [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Assets | $ 176.9 | $ 128.5 | |
Entergy Louisiana [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Liabilities | (32.4) | (53.9) | $ (16.1) |
Entergy Mississippi [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Assets | 91.6 | 82 | |
Entergy New Orleans [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Assets | 44.8 | 40.1 | |
Entergy Texas [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Assets | 55.2 | 33.5 | |
System Energy [Member] | |||
Asset Retirement Obligations [Line Items] | |||
Regulatory Assets | $ 67.9 | $ 69.7 |
Asset Retirement Obligations (C
Asset Retirement Obligations (Cumulative Decommissioning And Retirement Cost Liabilities And Expenses) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | $ 6,185.8 | $ 6,706.8 | $ 4,790.2 | |
Accretion | 431.5 | 359.9 | ||
Change in Cash Flow Estimate | (104.6) | 534.5 | ||
Spending | $ (727.3) | (120.6) | (140.3) | |
Asset Retirement Obligation, Liabilities Incurred | 1,162.5 | |||
Entergy Arkansas [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 981.2 | 924.4 | 872.3 | |
Accretion | 56.8 | 53.6 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | 0 | (1.5) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Entergy Louisiana [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 1,140.5 | 1,082.7 | 1,027.9 | |
Accretion | 57.8 | 54.8 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Entergy Mississippi [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 9.2 | 8.7 | 8.3 | |
Accretion | 0.5 | 0.4 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Entergy New Orleans [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 3.1 | 2.9 | 2.7 | |
Accretion | 0.2 | 0.2 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Entergy Texas [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 6.8 | 6.5 | 6.1 | |
Accretion | 0.3 | 0.4 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
System Energy [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 861.7 | 854.2 | 803.4 | |
Accretion | 43.4 | 50.8 | ||
Change in Cash Flow Estimate | (35.9) | 0 | ||
Spending | 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Entergy Wholesale Commodities [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 3,183.3 | 3,827.4 | 2,069.5 | |
Accretion | 272.5 | 199.7 | ||
Change in Cash Flow Estimate | (68.7) | 534.5 | ||
Spending | (727.3) | (120.6) | (138.8) | |
Asset Retirement Obligation, Liabilities Incurred | 1,162.5 | |||
Big Rock Point [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 38.9 | 37.9 | 28 | |
Accretion | 3.1 | 2.2 | ||
Change in Cash Flow Estimate | 0 | 10.1 | ||
Spending | (2.1) | (2.4) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
FitzPatrick [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 0 | 714.3 | 0 | |
Accretion | 13.9 | 18.1 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | $ (727.3) | (0.9) | 0 | |
Asset Retirement Obligation, Liabilities Incurred | 696.2 | |||
Indian Point 1 [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 217.6 | 207.6 | 197.9 | |
Accretion | 17.7 | 17.1 | ||
Change in Cash Flow Estimate | 0 | (0.3) | ||
Spending | (7.7) | (7.1) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Indian Point 2 [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 708.7 | 653.1 | 390.1 | |
Accretion | 55.8 | 33 | ||
Change in Cash Flow Estimate | 0 | 230 | ||
Spending | (0.2) | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Indian Point 3 [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 694.5 | 641.1 | 0 | |
Accretion | 53.5 | 12.1 | ||
Change in Cash Flow Estimate | 0 | 162.7 | ||
Spending | (0.1) | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 466.3 | |||
Palisades [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 470.4 | 500.3 | 342 | |
Accretion | 41.3 | 29.5 | ||
Change in Cash Flow Estimate | (68.7) | 128.8 | ||
Spending | (2.5) | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Pilgrim [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 651.4 | 602.3 | 551.2 | |
Accretion | 52.8 | 48.4 | ||
Change in Cash Flow Estimate | 0 | 3.2 | ||
Spending | (3.7) | (0.5) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Vermont Yankee [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 401.5 | 470.5 | 560 | |
Accretion | 34.4 | 39.3 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | (103.4) | (128.8) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Utility [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 3,002.5 | 2,879.4 | 2,720.7 | |
Accretion | 159 | 160.2 | ||
Change in Cash Flow Estimate | (35.9) | 0 | ||
Spending | 0 | (1.5) | ||
Asset Retirement Obligation, Liabilities Incurred | 0 | |||
Other Affiliates [Member] | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Asset Retirement Obligation | 0.3 | 0.3 | $ 0.3 | |
Accretion | 0 | 0 | ||
Change in Cash Flow Estimate | 0 | 0 | ||
Spending | $ 0 | 0 | ||
Asset Retirement Obligation, Liabilities Incurred | $ 0 |
Asset Retirement Obligations (F
Asset Retirement Obligations (Fair Values Of Decommissioning Trust Funds And Related Asset Retirement Obligation Regulatory Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
ANO 1 and ANO 2 [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Decommissioning Trust Fair Values | $ 944.9 | $ 834.7 |
Regulatory Asset | 337.9 | 316.3 |
River Bend [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Decommissioning Trust Fair Values | 818.2 | 712.8 |
Regulatory Liabilities | 30.6 | (28.4) |
Waterford 3 [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Decommissioning Trust Fair Values | 493.9 | 427.9 |
Regulatory Asset | 188.9 | 172.8 |
Grand Gulf [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Decommissioning Trust Fair Values | 905.7 | 780.5 |
Regulatory Asset | 169.1 | 142.5 |
Entergy Wholesale Commodities [Member] | ||
Asset Retirement Obligations [Line Items] | ||
Decommissioning Trust Fair Values | 4,049.3 | 2,968 |
Regulatory Asset | $ 0 | $ 0 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | Aug. 31, 2010 | Dec. 31, 1989 | Dec. 31, 1988 | |
Rent expense | $ 53,100,000 | $ 44,400,000 | $ 63,900,000 | |||||
Entergy Arkansas [Member] | ||||||||
Rent expense | 7,500,000 | 8,000,000 | 13,600,000 | |||||
Payments For Railcar Operating Lease | 4,000,000 | 3,400,000 | 4,700,000 | |||||
Value of non interest bearing first mortgage bonds | $ 124,100,000 | |||||||
Regulatory Asset | $ 176,900,000 | 128,500,000 | ||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 17.10% | |||||||
Entergy Louisiana [Member] | ||||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000,000 | |||||||
Rent expense | $ 23,000,000 | 17,800,000 | 21,800,000 | |||||
Payments For Railcar Operating Lease | 300,000 | 300,000 | 1,100,000 | |||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000,000 | |||||||
Value of non interest bearing first mortgage bonds | $ 207,200,000 | |||||||
Net regulatory liability related to sale and leaseback transaction | $ 32,400,000 | $ 53,900,000 | $ 16,100,000 | |||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 26.90% | |||||||
Entergy Louisiana [Member] | Purchased Power Agreement [Domain] | ||||||||
Percentage Of Capacity And Energy Purchased Under Purchased Power Agreement | 50.00% | |||||||
Entergy Louisiana [Member] | Waterford 3 [Member] | ||||||||
Sale and lease back transaction amount | $ 353,600,000 | |||||||
Implicit rate of future minimum lease payments | 8.09% | |||||||
Liability related to undivided interests in Waterford 3 | 62,700,000 | |||||||
Reduction in liability related to undivided interest in Waterford 3 | 2,700,000 | |||||||
Reduced liability related to undivided interests in Waterford 3 | 60,000,000 | |||||||
Entergy Mississippi [Member] | ||||||||
Rent expense | $ 5,600,000 | $ 4,000,000 | 5,400,000 | |||||
Regulatory Asset | $ 91,600,000 | 82,000,000 | ||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 31.30% | |||||||
Oil Tank Facilities Lease Payments | $ 1,600,000 | 1,600,000 | 1,600,000 | |||||
Entergy New Orleans [Member] | ||||||||
Rent expense | 2,500,000 | 900,000 | 1,600,000 | |||||
Regulatory Asset | $ 44,800,000 | 40,100,000 | ||||||
Purchased Percentage Of Capacity And Energy Based On Agreement | 24.70% | |||||||
Entergy Texas [Member] | ||||||||
Rent expense | $ 3,400,000 | 2,800,000 | 4,000,000 | |||||
Regulatory Asset | 55,200,000 | 33,500,000 | ||||||
Capacity expense under purchase power agreements accounted for as operating leases | $ 34,100,000 | 26,100,000 | 29,900,000 | |||||
Entergy Texas [Member] | Purchased Power Agreement [Domain] | ||||||||
Percent of minimum payments | 100.00% | |||||||
System Energy [Member] | ||||||||
Rent expense | $ 2,200,000 | 1,600,000 | $ 2,900,000 | |||||
Regulatory Asset | 67,900,000 | 69,700,000 | ||||||
System Energy [Member] | Grand Gulf [Member] | ||||||||
Year Two | $ 17,188,000 | |||||||
Sale and lease back transaction amount | $ 500,000,000 | |||||||
Implicit rate of future minimum lease payments | 5.13% | |||||||
Regulatory Asset | $ 0 | |||||||
Net regulatory liability related to sale and leaseback transaction | $ 55,600,000 | $ 55,600,000 |
Leases (Components Of Minimum L
Leases (Components Of Minimum Lease Payments) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Current Year, Operating Leases | $ 80,368 |
Year Two, Operating Leases | 82,516 |
Year Three, Operating Leases | 67,385 |
Year Four, Operating Leases | 58,507 |
Year Five, Operating Leases | 43,760 |
Years thereafter, Operating Leases | 96,550 |
Minimum lease payments, Operating Leases | 429,086 |
Current Year, Capital Leases | 3,018 |
Year Two, Capital Leases | 2,887 |
Year Three, Capital Leases | 2,887 |
Year Four, Capital Leases | 2,887 |
Year Five, Capital Leases | 2,887 |
Years thereafter, Capital Leases | 19,004 |
Minimum lease payments, Capital Leases | 33,570 |
Less: Amount representing interest, Capital Leases | 10,051 |
Present value of net minimum lease payments, Capital Leases | 23,519 |
Entergy Arkansas [Member] | |
Current Year, Operating Leases | 17,009 |
Year Two, Operating Leases | 17,665 |
Year Three, Operating Leases | 11,483 |
Year Four, Operating Leases | 9,363 |
Year Five, Operating Leases | 6,834 |
Years thereafter, Operating Leases | 23,598 |
Minimum lease payments, Operating Leases | 85,952 |
Entergy Louisiana [Member] | |
Current Year, Operating Leases | 21,814 |
Year Two, Operating Leases | 22,875 |
Year Three, Operating Leases | 17,790 |
Year Four, Operating Leases | 13,762 |
Year Five, Operating Leases | 10,067 |
Years thereafter, Operating Leases | 19,443 |
Minimum lease payments, Operating Leases | 105,751 |
Entergy Mississippi [Member] | |
Current Year, Operating Leases | 11,771 |
Year Two, Operating Leases | 10,611 |
Year Three, Operating Leases | 8,969 |
Year Four, Operating Leases | 7,059 |
Year Five, Operating Leases | 5,007 |
Years thereafter, Operating Leases | 5,817 |
Minimum lease payments, Operating Leases | 49,234 |
Entergy New Orleans [Member] | |
Current Year, Operating Leases | 1,646 |
Year Two, Operating Leases | 1,579 |
Year Three, Operating Leases | 1,382 |
Year Four, Operating Leases | 1,033 |
Year Five, Operating Leases | 662 |
Years thereafter, Operating Leases | 1,797 |
Minimum lease payments, Operating Leases | 8,099 |
Entergy Texas [Member] | |
Current Year, Operating Leases | 3,469 |
Year Two, Operating Leases | 2,893 |
Year Three, Operating Leases | 1,934 |
Year Four, Operating Leases | 1,299 |
Year Five, Operating Leases | 862 |
Years thereafter, Operating Leases | 2,173 |
Minimum lease payments, Operating Leases | $ 12,630 |
Leases (Rent Expenses) (Details
Leases (Rent Expenses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Rent Expense | $ 53.1 | $ 44.4 | $ 63.9 |
Entergy Arkansas [Member] | |||
Rent Expense | 7.5 | 8 | 13.6 |
Entergy Louisiana [Member] | |||
Rent Expense | 23 | 17.8 | 21.8 |
Entergy Mississippi [Member] | |||
Rent Expense | 5.6 | 4 | 5.4 |
Entergy New Orleans [Member] | |||
Rent Expense | 2.5 | 0.9 | 1.6 |
Entergy Texas [Member] | |||
Rent Expense | 3.4 | 2.8 | 4 |
System Energy [Member] | |||
Rent Expense | $ 2.2 | $ 1.6 | $ 2.9 |
Leases Purchase Power Agreement
Leases Purchase Power Agreement Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Current Year, Operating Leases | $ 80,368 |
Year Two, Operating Leases | 82,516 |
Year Three, Operating Leases | 67,385 |
Year Four, Operating Leases | 58,507 |
Year Five, Operating Leases | 43,760 |
Years thereafter, Operating Leases | 96,550 |
Minimum lease payments, Operating Leases | 429,086 |
Purchased Power Agreement [Domain] | |
Current Year, Operating Leases | 30,458 |
Year Two, Operating Leases | 31,159 |
Year Three, Operating Leases | 31,876 |
Year Four, Operating Leases | 32,609 |
Year Five, Operating Leases | 10,180 |
Years thereafter, Operating Leases | 0 |
Minimum lease payments, Operating Leases | 136,282 |
Entergy Louisiana [Member] | |
Current Year, Operating Leases | 21,814 |
Year Two, Operating Leases | 22,875 |
Year Three, Operating Leases | 17,790 |
Year Four, Operating Leases | 13,762 |
Year Five, Operating Leases | 10,067 |
Years thereafter, Operating Leases | 19,443 |
Minimum lease payments, Operating Leases | 105,751 |
Entergy Texas [Member] | |
Current Year, Operating Leases | 3,469 |
Year Two, Operating Leases | 2,893 |
Year Three, Operating Leases | 1,934 |
Year Four, Operating Leases | 1,299 |
Year Five, Operating Leases | 862 |
Years thereafter, Operating Leases | 2,173 |
Minimum lease payments, Operating Leases | 12,630 |
Entergy Texas [Member] | Purchased Power Agreement [Domain] | |
Current Year, Operating Leases | 30,458 |
Year Two, Operating Leases | 31,159 |
Year Three, Operating Leases | 31,876 |
Year Four, Operating Leases | 32,609 |
Year Five, Operating Leases | 10,180 |
Years thereafter, Operating Leases | 0 |
Minimum lease payments, Operating Leases | $ 136,282 |
Leases (Future Minimum Lease Pa
Leases (Future Minimum Lease Payments Sale Leaseback Transactions) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
System Energy [Member] | Grand Gulf [Member] | ||
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months | $ 17,188 | |
Year Two | 17,188 | |
Year Three | 17,188 | |
Year Four | 17,188 | |
Year Five | 17,188 | |
Years thereafter | 240,625 | |
Total | 326,565 | |
Less: Amount representing interest | 292,209 | |
Present value of net minimum lease payments | $ 34,356 | |
Entergy Louisiana [Member] | Waterford 3 [Member] | ||
Minimum Lease Payments, Sale Leaseback Transactions, Next Twelve Months | $ 57,500 | |
Less: Amount representing interest | $ 2,300 |
Retirement, Other Postretirem96
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)plan | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Concentration Risk | 10.00% | ||
Change in Plan Assets | |||
non-current pension liability | $ 2,910,654 | $ 3,036,010 | |
Current pension liability | 71,612 | 76,942 | |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 6,071,316 | 5,171,202 | |
Change in Plan Assets | |||
Number of qualified pension plans | plan | 8 | ||
Accumulated pension benefit obligation | $ 7,400,000 | 6,700,000 | |
Net periodic benefit costs | 214,221 | 214,853 | $ 321,138 |
Amortization of prior service credit | 261 | 1,079 | 1,561 |
Expected Employer Contributions | $ 352,100 | ||
Number of Qualified Pension Plans in which Registrant Subsidiaries Participate | 4 | ||
Number of Cash Balance Pension Plans in which Asset Held in Second Master Trust | 2 | ||
Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 6,071,316 | 5,171,202 | 4,707,433 |
Change in Plan Assets | |||
Projected benefit obligation | 7,987,087 | 7,142,567 | 6,848,238 |
non-current pension liability | 1,915,771 | 1,971,365 | |
Accumulated other comprehensive income (before taxes) | 668,164 | 619,935 | |
Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 144,700 | 151,000 | |
Net periodic benefit costs | 37,600 | 24,900 | 22,800 |
Settlement charges related to the payment of lump sum benefits out of the plan | 20,300 | 8,100 | 5,100 |
Projected benefit obligation | 162,300 | 169,300 | |
non-current pension liability | 136,000 | 137,600 | |
Current pension liability | 26,400 | 31,700 | |
Amortization of prior service credit | 55,200 | 59,800 | |
Accumulated other comprehensive income (before taxes) | 35,900 | 31,600 | |
Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Subsidiaries' contribution to defined contribution plan | $ 49,100 | 47,000 | 44,400 |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 659,327 | 596,660 | 579,069 |
Change in Plan Assets | |||
Net periodic benefit costs | 25,603 | 19,526 | 66,157 |
Projected benefit obligation | 1,563,487 | 1,568,963 | 1,530,829 |
non-current pension liability | 858,923 | 927,048 | |
Current pension liability | 45,237 | 45,255 | |
Amortization of prior service credit | (41,425) | (45,490) | (37,280) |
Accumulated other comprehensive income (before taxes) | 96,275 | 83,101 | |
Expected Employer Contributions | 52,300 | ||
Entergy Arkansas [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 353,274 | 424,234 | |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,492,876 | 1,379,265 | |
Net periodic benefit costs | 36,987 | 37,601 | 62,683 |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,205,668 | 1,041,592 | 959,618 |
Change in Plan Assets | |||
Projected benefit obligation | 1,580,756 | 1,454,310 | 1,400,511 |
non-current pension liability | 375,088 | 412,718 | |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 3,825 | 3,439 | |
Net periodic benefit costs | 679 | 1,819 | 446 |
Projected benefit obligation | 4,221 | 3,897 | |
non-current pension liability | 3,845 | 3,655 | |
Current pension liability | 376 | 242 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Settlement charges | 269 | 1,400 | |
Entergy Arkansas [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 274,678 | 250,926 | 243,206 |
Change in Plan Assets | |||
Net periodic benefit costs | (4,015) | (5,861) | 3,200 |
Projected benefit obligation | 249,019 | 258,787 | 258,900 |
non-current pension liability | (25,659) | 7,861 | |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (5,110) | (5,472) | (2,441) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 472 | ||
Entergy Louisiana [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 748,384 | 780,278 | |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 1,652,939 | 1,513,884 | |
Net periodic benefit costs | 44,283 | 47,072 | 72,860 |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 1,365,741 | 1,169,147 | 1,071,234 |
Change in Plan Assets | |||
Projected benefit obligation | 1,785,700 | 1,624,233 | 1,564,710 |
non-current pension liability | 419,959 | 455,086 | |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 2,061 | 2,134 | |
Net periodic benefit costs | 185 | 231 | 377 |
Projected benefit obligation | 2,061 | 2,134 | |
non-current pension liability | 1,830 | 1,901 | |
Current pension liability | 231 | 233 | |
Accumulated other comprehensive income (before taxes) | 11 | 13 | |
Settlement charges | 108 | ||
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 |
Change in Plan Assets | |||
Net periodic benefit costs | 12,598 | 15,656 | 25,855 |
Projected benefit obligation | 345,389 | 342,500 | 356,253 |
non-current pension liability | 326,595 | 323,291 | |
Current pension liability | 18,794 | 19,209 | |
Amortization of prior service credit | (7,735) | (7,787) | (7,467) |
Accumulated other comprehensive income (before taxes) | 31,586 | 26,965 | |
Expected Employer Contributions | 18,962 | ||
Entergy Mississippi [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 101,498 | 109,551 | |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 430,268 | 396,081 | |
Net periodic benefit costs | 8,504 | 9,510 | 16,412 |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 360,842 | 314,349 | 292,297 |
Change in Plan Assets | |||
Projected benefit obligation | 457,549 | 419,201 | 408,604 |
non-current pension liability | 96,707 | 104,852 | |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 2,250 | 1,961 | |
Net periodic benefit costs | 251 | 236 | 235 |
Projected benefit obligation | 2,737 | 2,296 | |
non-current pension liability | 2,603 | 2,159 | |
Current pension liability | 135 | 137 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Settlement charges | 1 | 2 | |
Entergy Mississippi [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 82,433 | 75,945 | 75,538 |
Change in Plan Assets | |||
Net periodic benefit costs | (1,030) | (1,180) | (758) |
Projected benefit obligation | 84,621 | 78,485 | 77,382 |
non-current pension liability | 2,188 | 2,540 | |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (1,823) | (934) | (916) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 110 | ||
Entergy New Orleans [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 20,755 | 36,750 | |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 205,316 | 186,247 | |
Net periodic benefit costs | 5,096 | 5,593 | 8,981 |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 165,747 | 142,488 | 129,975 |
Change in Plan Assets | |||
Projected benefit obligation | 217,896 | 197,464 | 191,064 |
non-current pension liability | 52,149 | 54,976 | |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 519 | 452 | |
Net periodic benefit costs | 73 | 65 | 64 |
Projected benefit obligation | 583 | 514 | |
non-current pension liability | 562 | 495 | |
Current pension liability | 21 | 20 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy New Orleans [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 85,504 | 74,236 | 69,881 |
Change in Plan Assets | |||
Net periodic benefit costs | (2,521) | (2,803) | (1,617) |
Projected benefit obligation | 53,548 | 55,515 | 51,951 |
non-current pension liability | (31,956) | (18,721) | |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (745) | (745) | (709) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 3,669 | ||
Entergy Texas [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 17,853 | 67,313 | |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 387,083 | 365,251 | |
Net periodic benefit costs | 3,543 | 5,002 | 12,059 |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 363,523 | 317,576 | 298,378 |
Change in Plan Assets | |||
Projected benefit obligation | 410,720 | 386,366 | 383,627 |
non-current pension liability | 47,197 | 68,790 | |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 8,602 | 8,333 | |
Net periodic benefit costs | 499 | 504 | 595 |
Projected benefit obligation | 8,913 | 8,665 | |
non-current pension liability | 8,125 | 7,892 | |
Current pension liability | 788 | 773 | |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Entergy Texas [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 154,171 | 137,069 | 130,374 |
Change in Plan Assets | |||
Net periodic benefit costs | (1,751) | (4,405) | (2,968) |
Projected benefit obligation | 116,702 | 127,700 | 114,582 |
non-current pension liability | (37,469) | (9,369) | |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (2,316) | (2,722) | (2,723) |
Accumulated other comprehensive income (before taxes) | 0 | 0 | |
Expected Employer Contributions | 3,231 | ||
System Energy [Member] | |||
Change in Plan Assets | |||
non-current pension liability | 121,874 | 117,850 | |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Accumulated pension benefit obligation | 359,258 | 315,131 | |
Net periodic benefit costs | 11,716 | 10,808 | 16,581 |
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 274,432 | 235,144 | 212,006 |
Change in Plan Assets | |||
Projected benefit obligation | 384,049 | 335,381 | 311,542 |
non-current pension liability | 109,617 | 100,237 | |
System Energy [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 49,124 | 44,885 | 44,917 |
Change in Plan Assets | |||
Net periodic benefit costs | 692 | (224) | 481 |
Projected benefit obligation | 61,381 | 62,498 | 57,645 |
non-current pension liability | 12,257 | 17,613 | |
Current pension liability | 0 | 0 | |
Amortization of prior service credit | (1,513) | (1,570) | $ (1,465) |
Accumulated other comprehensive income (before taxes) | 0 | $ 0 | |
Expected Employer Contributions | $ 16 | ||
Minimum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 70.00% | ||
Maximum [Member] | Defined Contribution Plans [Member] | |||
Change in Plan Assets | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Domestic Equity Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 45.00% | ||
International Equity Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 20.00% | ||
Fixed Income Securities [Member] | Qualified Pension Plans [Member] | |||
Change in Plan Assets | |||
Target asset allocation | 35.00% |
Retirement, Other Postretirem97
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Net Periodic Pension Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | $ 26,915 | $ 32,291 | $ 45,305 |
Interest cost | 55,838 | 56,331 | 71,934 |
Expected return on assets | (37,630) | (41,820) | (45,375) |
Amortization of prior service credit | (41,425) | (45,490) | (37,280) |
Recognized net loss | 21,905 | 18,214 | 31,573 |
Net periodic pension costs | 25,603 | 19,526 | 66,157 |
Prior service credit for period | (2,564) | (20,353) | (48,192) |
Net loss | (66,922) | 49,805 | (154,339) |
Amortization of prior service cost/(credit) | 41,425 | 45,490 | 37,280 |
Amortization of net loss | 21,905 | 18,214 | 31,573 |
Total | (49,966) | 56,728 | (196,824) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (24,363) | 76,254 | (130,667) |
Prior service cost | (37,002) | (41,425) | (45,485) |
Net loss | 13,729 | 21,905 | 18,214 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior service credit | 55,200 | 59,800 | |
Net periodic pension costs | 37,600 | 24,900 | 22,800 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 133,641 | 143,244 | 175,046 |
Interest cost | 260,824 | 261,613 | 302,777 |
Expected return on assets | (408,225) | (389,465) | (394,618) |
Amortization of prior service credit | 261 | 1,079 | 1,561 |
Recognized net loss | 227,720 | 195,298 | 235,922 |
Curtailment loss | 0 | 3,084 | 374 |
Special termination benefit | 0 | 0 | 76 |
Net periodic pension costs | 214,221 | 214,853 | 321,138 |
Net loss | 368,067 | 203,229 | 50,762 |
Amortization of prior service cost/(credit) | (261) | (1,079) | (1,561) |
Acceleration of prior service cost due to curtailment | 0 | (1,045) | (374) |
Amortization of net loss | 227,720 | 195,298 | 235,922 |
Total | 140,086 | 5,807 | (187,095) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 354,307 | 220,660 | 134,043 |
Prior service cost | 398 | 261 | 1,079 |
Net loss | 274,104 | 227,720 | 195,321 |
Entergy Arkansas [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 3,451 | 3,913 | 6,957 |
Interest cost | 9,020 | 9,297 | 12,518 |
Expected return on assets | (15,836) | (17,855) | (19,190) |
Amortization of prior service credit | (5,110) | (5,472) | (2,441) |
Recognized net loss | 4,460 | 4,256 | 5,356 |
Net periodic pension costs | (4,015) | (5,861) | 3,200 |
Prior service credit for period | (1,007) | (18,035) | |
Net loss | (29,534) | 3,331 | (11,978) |
Amortization of prior service cost/(credit) | 5,110 | 5,472 | 2,441 |
Amortization of net loss | 4,460 | 4,256 | 5,356 |
Total | (28,884) | 3,540 | (32,928) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (32,899) | (2,321) | (29,728) |
Prior service cost | (5,110) | (5,110) | (5,472) |
Net loss | 1,154 | 4,460 | 4,256 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 679 | 1,819 | 446 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 20,358 | 20,724 | 26,646 |
Interest cost | 51,776 | 52,219 | 61,885 |
Expected return on assets | (81,707) | (79,087) | (80,102) |
Recognized net loss | 46,560 | 43,745 | 54,254 |
Net periodic pension costs | 36,987 | 37,601 | 62,683 |
Net loss | 51,569 | 60,968 | 16,687 |
Amortization of net loss | 46,560 | 43,745 | 54,254 |
Total | 5,009 | 17,223 | (37,567) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 41,996 | 54,824 | 25,116 |
Net loss | 53,650 | 46,560 | 43,747 |
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 6,373 | 7,476 | 9,893 |
Interest cost | 12,101 | 13,041 | 16,311 |
Expected return on assets | 0 | 0 | 0 |
Amortization of prior service credit | (7,735) | (7,787) | (7,467) |
Recognized net loss | 1,859 | 2,926 | 7,118 |
Net periodic pension costs | 12,598 | 15,656 | 25,855 |
Prior service credit for period | (4,647) | (1,361) | |
Net loss | (1,256) | (13,117) | (47,043) |
Amortization of prior service cost/(credit) | 7,735 | 7,787 | 7,467 |
Amortization of net loss | 1,859 | 2,926 | 7,118 |
Total | 4,620 | (12,903) | (48,055) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 17,218 | 2,753 | (22,200) |
Prior service cost | (7,735) | (7,739) | (7,783) |
Net loss | 1,550 | 1,859 | 2,926 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 185 | 231 | 377 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 27,698 | 28,194 | 34,396 |
Interest cost | 59,235 | 59,478 | 69,465 |
Expected return on assets | (92,067) | (88,383) | (90,803) |
Recognized net loss | 49,417 | 47,783 | 59,802 |
Net periodic pension costs | 44,283 | 47,072 | 72,860 |
Net loss | 57,510 | 46,742 | 16,618 |
Amortization of net loss | 49,417 | 47,783 | 59,802 |
Total | 8,093 | (1,041) | (43,184) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 52,376 | 46,031 | 29,676 |
Net loss | 57,800 | 49,417 | 47,809 |
Entergy Mississippi [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,160 | 1,543 | 2,028 |
Interest cost | 2,759 | 2,835 | 3,436 |
Expected return on assets | (4,801) | (5,517) | (6,166) |
Amortization of prior service credit | (1,823) | (934) | (916) |
Recognized net loss | 1,675 | 893 | 860 |
Net periodic pension costs | (1,030) | (1,180) | (758) |
Prior service credit for period | (6,219) | 0 | |
Net loss | 506 | 8,715 | 774 |
Amortization of prior service cost/(credit) | 1,823 | 934 | 916 |
Amortization of net loss | 1,675 | 893 | 860 |
Total | 654 | 2,537 | 830 |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (376) | 1,357 | 72 |
Prior service cost | (1,823) | (1,824) | (933) |
Net loss | 1,508 | 1,675 | 893 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 251 | 236 | 235 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 5,890 | 6,250 | 7,929 |
Interest cost | 14,927 | 15,245 | 18,007 |
Expected return on assets | (24,526) | (23,923) | (24,420) |
Recognized net loss | 12,213 | 11,938 | 14,896 |
Net periodic pension costs | 8,504 | 9,510 | 16,412 |
Net loss | 14,681 | 10,942 | 6,329 |
Amortization of net loss | 12,213 | 11,938 | 14,896 |
Total | 2,468 | (996) | (8,567) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 10,972 | 8,514 | 7,845 |
Net loss | 14,438 | 12,213 | 11,938 |
Entergy New Orleans [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 567 | 622 | 818 |
Interest cost | 1,874 | 1,791 | 2,608 |
Expected return on assets | (4,635) | (4,617) | (4,804) |
Amortization of prior service credit | (745) | (745) | (709) |
Recognized net loss | 418 | 146 | 470 |
Net periodic pension costs | (2,521) | (2,803) | (1,617) |
Prior service credit for period | 0 | 0 | |
Net loss | (7,342) | 5,717 | (5,810) |
Amortization of prior service cost/(credit) | 745 | 745 | 709 |
Amortization of net loss | 418 | 146 | 470 |
Total | (7,015) | 6,316 | (5,571) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (9,536) | 3,513 | (7,188) |
Prior service cost | (745) | (745) | (745) |
Net loss | 137 | 418 | 146 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 73 | 65 | 64 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 2,500 | 2,625 | 3,395 |
Interest cost | 7,163 | 7,256 | 8,432 |
Expected return on assets | (11,199) | (10,748) | (10,899) |
Recognized net loss | 6,632 | 6,460 | 8,053 |
Net periodic pension costs | 5,096 | 5,593 | 8,981 |
Net loss | 8,601 | 5,463 | 1,853 |
Amortization of net loss | 6,632 | 6,460 | 8,053 |
Total | 1,969 | (997) | (6,200) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 7,065 | 4,596 | 2,781 |
Net loss | 7,816 | 6,632 | 6,460 |
Entergy Texas [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,488 | 1,590 | 2,000 |
Interest cost | 4,494 | 4,154 | 5,366 |
Expected return on assets | (8,720) | (9,575) | (10,351) |
Amortization of prior service credit | (2,316) | (2,722) | (2,723) |
Recognized net loss | 3,303 | 2,148 | 2,740 |
Net periodic pension costs | (1,751) | (4,405) | (2,968) |
Prior service credit for period | 0 | 0 | |
Net loss | (22,255) | 13,378 | (4,907) |
Amortization of prior service cost/(credit) | 2,316 | 2,722 | 2,723 |
Amortization of net loss | 3,303 | 2,148 | 2,740 |
Total | (23,242) | 13,952 | (4,924) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (24,993) | 9,547 | (7,892) |
Prior service cost | (2,316) | (2,316) | (2,722) |
Net loss | 823 | 3,303 | 2,148 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic pension costs | 499 | 504 | 595 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 5,455 | 5,664 | 6,582 |
Interest cost | 13,569 | 14,228 | 17,414 |
Expected return on assets | (24,722) | (24,248) | (24,887) |
Recognized net loss | 9,241 | 9,358 | 12,950 |
Net periodic pension costs | 3,543 | 5,002 | 12,059 |
Net loss | 1,109 | 3,816 | (4,488) |
Amortization of net loss | 9,241 | 9,358 | 12,950 |
Total | (8,132) | (5,542) | (17,438) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (4,589) | (540) | (5,379) |
Net loss | 10,503 | 9,241 | 9,358 |
System Energy [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,278 | 1,337 | 1,881 |
Interest cost | 2,236 | 2,117 | 2,511 |
Expected return on assets | (2,869) | (3,257) | (3,644) |
Amortization of prior service credit | (1,513) | (1,570) | (1,465) |
Recognized net loss | 1,560 | 1,149 | 1,198 |
Net periodic pension costs | 692 | (224) | 481 |
Prior service credit for period | 0 | (644) | |
Net loss | (5,459) | 4,997 | 305 |
Amortization of prior service cost/(credit) | 1,513 | 1,570 | 1,465 |
Amortization of net loss | 1,560 | 1,149 | 1,198 |
Total | (5,506) | 5,418 | (72) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | (4,814) | 5,194 | 409 |
Prior service cost | (1,513) | (1,513) | (1,570) |
Net loss | 932 | 1,560 | 1,149 |
System Energy [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 6,145 | 6,263 | 7,827 |
Interest cost | 12,364 | 11,966 | 13,970 |
Expected return on assets | (18,650) | (17,836) | (18,271) |
Recognized net loss | 11,857 | 10,415 | 13,055 |
Net periodic pension costs | 11,716 | 10,808 | 16,581 |
Net loss | 27,733 | 20,805 | 101 |
Amortization of net loss | 11,857 | 10,415 | 13,055 |
Total | 15,876 | 10,390 | (12,954) |
Total recognized as net periodic benefit cost, regulatory asset, and/or AOCI (before tax) | 27,592 | 21,198 | 3,627 |
Net loss | $ 14,859 | $ 11,857 | $ 10,414 |
Retirement, Other Postretirem98
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Benefit Obligations, Plan Assets, Funded Status, Amounts Recognized In The Balance Sheet) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amounts recognized in the balance sheet | |||
Current liabilities | $ (71,612) | $ (76,942) | |
Non-current liabilities | (2,910,654) | (3,036,010) | |
Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 7,142,567 | 6,848,238 | |
Service cost | 133,641 | 143,244 | |
Interest cost | 260,824 | 261,613 | |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 0 | 2,039 | |
Actuarial (gain)/loss | 767,849 | 209,360 | |
Employee contributions | 40 | 23 | |
Benefits Paid | (317,834) | (321,950) | |
Balance at end of year | 7,987,087 | 7,142,567 | $ 6,848,238 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 5,171,202 | 4,707,433 | |
Actual return on plan assets | 808,007 | 395,596 | |
Employer contributions | 409,901 | 390,100 | |
Employee contributions | 40 | 23 | |
Benefits Paid | (317,834) | (321,950) | |
Fair value of assets at end of year | 6,071,316 | 5,171,202 | 4,707,433 |
Funded status | (1,915,771) | (1,971,365) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (1,915,771) | (1,971,365) | |
Amounts recognized as a regulatory asset | |||
Net loss | 2,418,206 | 2,326,349 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 398 | 659 | |
Net loss | 667,766 | 619,276 | |
Amount recognized as AOCI (before tax) | 668,164 | 619,935 | |
Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,568,963 | 1,530,829 | |
Service cost | 26,915 | 32,291 | 45,305 |
Interest cost | 55,838 | 56,331 | 71,934 |
Plan amendments | (2,564) | (20,353) | |
Actuarial (gain)/loss | (23,409) | 46,201 | |
Employee contributions | 35,080 | 27,686 | |
Benefits Paid | (97,829) | (104,477) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 493 | 455 | |
Balance at end of year | 1,563,487 | 1,568,963 | 1,530,829 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 596,660 | 579,069 | |
Actual return on plan assets | 81,143 | 38,216 | |
Employer contributions | 44,273 | 56,166 | |
Employee contributions | 35,080 | 27,686 | |
Benefits Paid | (97,829) | (104,477) | |
Fair value of assets at end of year | 659,327 | 596,660 | 579,069 |
Funded status | (904,160) | (972,303) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (45,237) | (45,255) | |
Non-current liabilities | (858,923) | (927,048) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 40,461 | 54,896 | |
Net loss | 144,966 | 222,540 | |
Amortization of prior service credit | (41,425) | (45,490) | (37,280) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 104,505 | 167,644 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (65,047) | (89,474) | |
Net loss | 161,322 | 172,575 | |
Amount recognized as AOCI (before tax) | 96,275 | 83,101 | |
Entergy Arkansas [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (353,274) | (424,234) | |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,454,310 | 1,400,511 | |
Service cost | 20,358 | 20,724 | |
Interest cost | 51,776 | 52,219 | |
Actuarial (gain)/loss | 131,729 | 62,187 | |
Benefits Paid | (77,417) | (81,331) | |
Balance at end of year | 1,580,756 | 1,454,310 | 1,400,511 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 1,041,592 | 959,618 | |
Actual return on plan assets | 161,868 | 80,306 | |
Employer contributions | 79,625 | 82,999 | |
Benefits Paid | (77,417) | (81,331) | |
Fair value of assets at end of year | 1,205,668 | 1,041,592 | 959,618 |
Funded status | (375,088) | (412,718) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (375,088) | (412,718) | |
Amounts recognized as a regulatory asset | |||
Net loss | 706,783 | 701,774 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Arkansas [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 258,787 | 258,900 | |
Service cost | 3,451 | 3,913 | 6,957 |
Interest cost | 9,020 | 9,297 | 12,518 |
Plan amendments | (1,007) | ||
Actuarial (gain)/loss | (11,691) | 2,453 | |
Employee contributions | 7,875 | 6,330 | |
Benefits Paid | (18,497) | (21,178) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 74 | 79 | |
Balance at end of year | 249,019 | 258,787 | 258,900 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 250,926 | 243,206 | |
Actual return on plan assets | 33,679 | 16,977 | |
Employer contributions | 695 | 5,591 | |
Employee contributions | 7,875 | 6,330 | |
Benefits Paid | (18,497) | (21,178) | |
Fair value of assets at end of year | 274,678 | 250,926 | 243,206 |
Funded status | 25,659 | (7,861) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | 25,659 | (7,861) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 16,574 | 21,684 | |
Net loss | 42,394 | 76,388 | |
Amortization of prior service credit | (5,110) | (5,472) | (2,441) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 25,820 | 54,704 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy Louisiana [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (748,384) | (780,278) | |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 1,624,233 | 1,564,710 | |
Service cost | 27,698 | 28,194 | |
Interest cost | 59,235 | 59,478 | |
Actuarial (gain)/loss | 147,704 | 48,357 | |
Benefits Paid | (73,170) | (76,506) | |
Balance at end of year | 1,785,700 | 1,624,233 | 1,564,710 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 1,169,147 | 1,071,234 | |
Actual return on plan assets | 182,261 | 89,998 | |
Employer contributions | 87,503 | 84,421 | |
Benefits Paid | (73,170) | (76,506) | |
Fair value of assets at end of year | 1,365,741 | 1,169,147 | 1,071,234 |
Funded status | (419,959) | (455,086) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (419,959) | (455,086) | |
Amounts recognized as a regulatory asset | |||
Net loss | 701,324 | 686,337 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 44,765 | 51,660 | |
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 342,500 | 356,253 | |
Service cost | 6,373 | 7,476 | 9,893 |
Interest cost | 12,101 | 13,041 | 16,311 |
Plan amendments | (4,647) | ||
Actuarial (gain)/loss | (1,256) | (13,117) | |
Employee contributions | 7,855 | 6,273 | |
Benefits Paid | (22,273) | (22,893) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 89 | 114 | |
Balance at end of year | 345,389 | 342,500 | 356,253 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 14,418 | 16,620 | |
Employee contributions | 7,855 | 6,273 | |
Benefits Paid | (22,273) | (22,893) | |
Fair value of assets at end of year | 0 | 0 | 0 |
Funded status | (345,389) | (342,500) | |
Amounts recognized in the balance sheet | |||
Current liabilities | (18,794) | (19,209) | |
Non-current liabilities | (326,595) | (323,291) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 0 | 0 | |
Net loss | 0 | 0 | |
Amortization of prior service credit | (7,735) | (7,787) | (7,467) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 0 | 0 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | (19,999) | (27,735) | |
Net loss | 51,585 | 54,700 | |
Amount recognized as AOCI (before tax) | 31,586 | 26,965 | |
Entergy Mississippi [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (101,498) | (109,551) | |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 419,201 | 408,604 | |
Service cost | 5,890 | 6,250 | |
Interest cost | 14,927 | 15,245 | |
Actuarial (gain)/loss | 38,726 | 11,343 | |
Benefits Paid | (21,195) | (22,241) | |
Balance at end of year | 457,549 | 419,201 | 408,604 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 314,349 | 292,297 | |
Actual return on plan assets | 48,572 | 24,325 | |
Employer contributions | 19,116 | 19,968 | |
Benefits Paid | (21,195) | (22,241) | |
Fair value of assets at end of year | 360,842 | 314,349 | 292,297 |
Funded status | (96,707) | (104,852) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (96,707) | (104,852) | |
Amounts recognized as a regulatory asset | |||
Net loss | 191,877 | 189,409 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Mississippi [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 78,485 | 77,382 | |
Service cost | 1,160 | 1,543 | 2,028 |
Interest cost | 2,759 | 2,835 | 3,436 |
Plan amendments | (6,219) | ||
Actuarial (gain)/loss | 5,858 | 8,230 | |
Employee contributions | 2,160 | 1,721 | |
Benefits Paid | (5,823) | (7,031) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 22 | 24 | |
Balance at end of year | 84,621 | 78,485 | 77,382 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 75,945 | 75,538 | |
Actual return on plan assets | 10,153 | 5,032 | |
Employer contributions | (2) | 685 | |
Employee contributions | 2,160 | 1,721 | |
Benefits Paid | (5,823) | (7,031) | |
Fair value of assets at end of year | 82,433 | 75,945 | 75,538 |
Funded status | (2,188) | (2,540) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | (2,188) | (2,540) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 6,687 | 8,511 | |
Net loss | 25,247 | 26,416 | |
Amortization of prior service credit | (1,823) | (934) | (916) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 18,560 | 17,905 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy New Orleans [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (20,755) | (36,750) | |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 197,464 | 191,064 | |
Service cost | 2,500 | 2,625 | |
Interest cost | 7,163 | 7,256 | |
Actuarial (gain)/loss | 19,507 | 5,573 | |
Benefits Paid | (8,738) | (9,054) | |
Balance at end of year | 217,896 | 197,464 | 191,064 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 142,488 | 129,975 | |
Actual return on plan assets | 22,104 | 10,858 | |
Employer contributions | 9,893 | 10,709 | |
Benefits Paid | (8,738) | (9,054) | |
Fair value of assets at end of year | 165,747 | 142,488 | 129,975 |
Funded status | (52,149) | (54,976) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (52,149) | (54,976) | |
Amounts recognized as a regulatory asset | |||
Net loss | 96,913 | 94,944 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy New Orleans [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 55,515 | 51,951 | |
Service cost | 567 | 622 | 818 |
Interest cost | 1,874 | 1,791 | 2,608 |
Plan amendments | 0 | ||
Actuarial (gain)/loss | (899) | 4,774 | |
Employee contributions | 1,151 | 1,213 | |
Benefits Paid | (4,670) | (4,852) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 10 | 16 | |
Balance at end of year | 53,548 | 55,515 | 51,951 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 74,236 | 69,881 | |
Actual return on plan assets | 11,078 | 3,674 | |
Employer contributions | 3,709 | 4,320 | |
Employee contributions | 1,151 | 1,213 | |
Benefits Paid | (4,670) | (4,852) | |
Fair value of assets at end of year | 85,504 | 74,236 | 69,881 |
Funded status | 31,956 | 18,721 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | 31,956 | 18,721 | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 1,427 | 2,172 | |
Net loss | 4,269 | 12,029 | |
Amortization of prior service credit | (745) | (745) | (709) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 2,842 | 9,857 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
Entergy Texas [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (17,853) | (67,313) | |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 386,366 | 383,627 | |
Service cost | 5,455 | 5,664 | |
Interest cost | 13,569 | 14,228 | |
Actuarial (gain)/loss | 25,339 | 4,274 | |
Benefits Paid | (20,009) | (21,427) | |
Balance at end of year | 410,720 | 386,366 | 383,627 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 317,576 | 298,378 | |
Actual return on plan assets | 48,952 | 24,705 | |
Employer contributions | 17,004 | 15,920 | |
Benefits Paid | (20,009) | (21,427) | |
Fair value of assets at end of year | 363,523 | 317,576 | 298,378 |
Funded status | (47,197) | (68,790) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (47,197) | (68,790) | |
Amounts recognized as a regulatory asset | |||
Net loss | 145,412 | 153,544 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
Entergy Texas [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 127,700 | 114,582 | |
Service cost | 1,488 | 1,590 | 2,000 |
Interest cost | 4,494 | 4,154 | 5,366 |
Plan amendments | 0 | ||
Actuarial (gain)/loss | (12,469) | 12,389 | |
Employee contributions | 2,453 | 1,927 | |
Benefits Paid | (6,980) | (6,977) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 16 | 35 | |
Balance at end of year | 116,702 | 127,700 | 114,582 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 137,069 | 130,374 | |
Actual return on plan assets | 18,506 | 8,586 | |
Employer contributions | 3,123 | 3,159 | |
Employee contributions | 2,453 | 1,927 | |
Benefits Paid | (6,980) | (6,977) | |
Fair value of assets at end of year | 154,171 | 137,069 | 130,374 |
Funded status | 37,469 | 9,369 | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | 37,469 | 9,369 | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 5,980 | 8,296 | |
Net loss | 24,478 | 50,036 | |
Amortization of prior service credit | (2,316) | (2,722) | (2,723) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 18,498 | 41,740 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | 0 | 0 | |
System Energy [Member] | |||
Amounts recognized in the balance sheet | |||
Non-current liabilities | (121,874) | (117,850) | |
System Energy [Member] | Qualified Pension Obligations [Member] | |||
Change in APBO | |||
Balance at beginning of year | 335,381 | 311,542 | |
Service cost | 6,145 | 6,263 | |
Interest cost | 12,364 | 11,966 | |
Actuarial (gain)/loss | 45,471 | 20,661 | |
Benefits Paid | (15,312) | (15,051) | |
Balance at end of year | 384,049 | 335,381 | 311,542 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 235,144 | 212,006 | |
Actual return on plan assets | 36,387 | 17,692 | |
Employer contributions | 18,213 | 20,497 | |
Benefits Paid | (15,312) | (15,051) | |
Fair value of assets at end of year | 274,432 | 235,144 | 212,006 |
Funded status | (109,617) | (100,237) | |
Amounts recognized in the balance sheet | |||
Non-current liabilities | (109,617) | (100,237) | |
Amounts recognized as a regulatory asset | |||
Net loss | 185,774 | 169,897 | |
Amounts recognized as AOCI (before tax) | |||
Net loss | 0 | 0 | |
System Energy [Member] | Other Postretirement Benefit Plan [Member] | |||
Change in APBO | |||
Balance at beginning of year | 62,498 | 57,645 | |
Service cost | 1,278 | 1,337 | 1,881 |
Interest cost | 2,236 | 2,117 | 2,511 |
Plan amendments | 0 | ||
Actuarial (gain)/loss | (2,233) | 4,806 | |
Employee contributions | 1,779 | 1,390 | |
Benefits Paid | (4,205) | (4,818) | |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 28 | 21 | |
Balance at end of year | 61,381 | 62,498 | 57,645 |
Change in Plan Assets | |||
Fair value of assets at beginning of year | 44,885 | 44,917 | |
Actual return on plan assets | 6,095 | 3,066 | |
Employer contributions | 570 | 330 | |
Employee contributions | 1,779 | 1,390 | |
Benefits Paid | (4,205) | (4,818) | |
Fair value of assets at end of year | 49,124 | 44,885 | 44,917 |
Funded status | (12,257) | (17,613) | |
Amounts recognized in the balance sheet | |||
Current liabilities | 0 | 0 | |
Non-current liabilities | (12,257) | (17,613) | |
Amounts recognized as a regulatory asset | |||
Prior service cost/(credit) | 3,819 | 5,332 | |
Net loss | 16,386 | 23,405 | |
Amortization of prior service credit | (1,513) | (1,570) | $ (1,465) |
Defined Benefit Plan, before Adoption of FAS 158 Recognition Provisions, Net Transition Obligations (Assets), Not yet Recognized | 12,567 | 18,073 | |
Amounts recognized as AOCI (before tax) | |||
Prior service cost | 0 | 0 | |
Net loss | 0 | 0 | |
Amount recognized as AOCI (before tax) | $ 0 | $ 0 |
Retirement, Other Postretirem99
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Projected Benefit Obligations) (Details) - Non-Qualified Pension Plans [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Projected Benefit Obligation | $ 162,300 | $ 169,300 |
Entergy Arkansas [Member] | ||
Projected Benefit Obligation | 4,221 | 3,897 |
Entergy Louisiana [Member] | ||
Projected Benefit Obligation | 2,061 | 2,134 |
Entergy Mississippi [Member] | ||
Projected Benefit Obligation | 2,737 | 2,296 |
Entergy New Orleans [Member] | ||
Projected Benefit Obligation | 583 | 514 |
Entergy Texas [Member] | ||
Projected Benefit Obligation | $ 8,913 | $ 8,665 |
Retirement, Other Postretire100
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Accumulated Benefit Obligations) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | $ 144,700 | $ 151,000 |
Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 7,400,000 | 6,700,000 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 3,825 | 3,439 |
Entergy Arkansas [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 1,492,876 | 1,379,265 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 2,061 | 2,134 |
Entergy Louisiana [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 1,652,939 | 1,513,884 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 2,250 | 1,961 |
Entergy Mississippi [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 430,268 | 396,081 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 519 | 452 |
Entergy New Orleans [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 205,316 | 186,247 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 8,602 | 8,333 |
Entergy Texas [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | 387,083 | 365,251 |
System Energy [Member] | Qualified Pension Plans [Member] | ||
Accumulated Pension Benefit Obligation | $ 359,258 | $ 315,131 |
Retirement, Other Postretire101
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Schedule Of Amounts Recorded On The Balance Sheet) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Current liabilities | $ (71,612) | $ (76,942) |
Non-current liabilities | (2,910,654) | (3,036,010) |
Entergy Arkansas [Member] | ||
Non-current liabilities | (353,274) | (424,234) |
Entergy Louisiana [Member] | ||
Non-current liabilities | (748,384) | (780,278) |
Entergy Mississippi [Member] | ||
Non-current liabilities | (101,498) | (109,551) |
Entergy New Orleans [Member] | ||
Non-current liabilities | (20,755) | (36,750) |
Entergy Texas [Member] | ||
Non-current liabilities | (17,853) | (67,313) |
System Energy [Member] | ||
Non-current liabilities | (121,874) | (117,850) |
Qualified Pension Obligations [Member] | ||
Employee contributions | 40 | 23 |
Non-current liabilities | (1,915,771) | (1,971,365) |
Accumulated other comprehensive income (before taxes) | 668,164 | 619,935 |
Qualified Pension Obligations [Member] | Entergy Arkansas [Member] | ||
Non-current liabilities | (375,088) | (412,718) |
Qualified Pension Obligations [Member] | Entergy Louisiana [Member] | ||
Non-current liabilities | (419,959) | (455,086) |
Qualified Pension Obligations [Member] | Entergy Mississippi [Member] | ||
Non-current liabilities | (96,707) | (104,852) |
Qualified Pension Obligations [Member] | Entergy New Orleans [Member] | ||
Non-current liabilities | (52,149) | (54,976) |
Qualified Pension Obligations [Member] | Entergy Texas [Member] | ||
Non-current liabilities | (47,197) | (68,790) |
Qualified Pension Obligations [Member] | System Energy [Member] | ||
Non-current liabilities | (109,617) | (100,237) |
Non-Qualified Pension Plans [Member] | ||
Current liabilities | (26,400) | (31,700) |
Non-current liabilities | (136,000) | (137,600) |
Accumulated other comprehensive income (before taxes) | 35,900 | 31,600 |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ||
Current liabilities | (376) | (242) |
Non-current liabilities | (3,845) | (3,655) |
Total funded status | (4,221) | (3,897) |
Regulatory Asset | 2,995 | 2,914 |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||
Current liabilities | (231) | (233) |
Non-current liabilities | (1,830) | (1,901) |
Total funded status | (2,061) | (2,134) |
Regulatory Asset | 166 | 175 |
Accumulated other comprehensive income (before taxes) | 11 | 13 |
Non-Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ||
Current liabilities | (135) | (137) |
Non-current liabilities | (2,603) | (2,159) |
Total funded status | (2,738) | (2,296) |
Regulatory Asset | 1,186 | 876 |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy New Orleans [Member] | ||
Current liabilities | (21) | (20) |
Non-current liabilities | (562) | (495) |
Total funded status | (583) | (515) |
Defined Benefit Pension Plan, Liabilities | (140) | (148) |
Accumulated other comprehensive income (before taxes) | 0 | 0 |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | ||
Current liabilities | (788) | (773) |
Non-current liabilities | (8,125) | (7,892) |
Total funded status | (8,913) | (8,665) |
Regulatory Asset | 133 | |
Defined Benefit Pension Plan, Liabilities | (316) | |
Accumulated other comprehensive income (before taxes) | $ 0 | $ 0 |
Retirement, Other Postretire102
Retirement, Other Postretirement Benefits, And Defined Contribution Plans Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Reclassification Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | $ 26,251 | $ 29,414 |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | (1,045) | |
Amortization of loss | (86,002) | (60,693) |
Settlement loss | (7,544) | (2,007) |
Total | (67,295) | (34,331) |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (261) | (1,079) |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | (1,045) | |
Amortization of loss | (73,800) | (49,930) |
Settlement loss | 0 | 0 |
Total | (74,061) | (52,054) |
Other Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 26,867 | 30,949 |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | 0 | |
Amortization of loss | (8,805) | (8,248) |
Settlement loss | 0 | 0 |
Total | 18,062 | 22,701 |
Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (355) | (456) |
Acceleration of Prior Service Cost Due to Curtailment, Before Tax | 0 | |
Amortization of loss | (3,397) | (2,515) |
Settlement loss | (7,544) | (2,007) |
Total | (11,296) | (4,978) |
Entergy Louisiana [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,734 | 7,786 |
Amortization of loss | (5,327) | (6,281) |
Total | 2,407 | 1,505 |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 0 | 0 |
Amortization of loss | (3,459) | (3,345) |
Total | (3,459) | (3,345) |
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | 7,735 | 7,787 |
Amortization of loss | (1,859) | (2,926) |
Total | 5,876 | 4,861 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service cost | (1) | (1) |
Amortization of loss | (9) | (10) |
Total | $ (10) | $ (11) |
Retirement, Other Postretire103
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Plan Assets, Asset Allocations Targets) (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Domestic Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 27.00% | |
Range, Minimum | 22.00% | |
Range, Maximum | 32.00% | |
Postretirement Asset Allocation | 30.00% | 40.00% |
International Equity Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 18.00% | |
Range, Minimum | 13.00% | |
Range, Maximum | 23.00% | |
Postretirement Asset Allocation | 20.00% | 27.00% |
Fixed Income Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 55.00% | |
Range, Minimum | 50.00% | |
Range, Maximum | 60.00% | |
Postretirement Asset Allocation | 50.00% | 33.00% |
Other Securities [Member] | Other Postretirement Taxable and Non-Taxable Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Range, Minimum | 0.00% | |
Range, Maximum | 5.00% | |
Postretirement Asset Allocation | 0.00% | 0.00% |
Qualified Pension Plans [Member] | Domestic Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 45.00% | |
Range, Minimum | 37.00% | |
Range, Maximum | 53.00% | |
Postretirement Asset Allocation | 45.00% | 46.00% |
Qualified Pension Plans [Member] | International Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 20.00% | |
Range, Minimum | 16.00% | |
Range, Maximum | 24.00% | |
Postretirement Asset Allocation | 20.00% | 20.00% |
Qualified Pension Plans [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 35.00% | |
Range, Minimum | 32.00% | |
Range, Maximum | 38.00% | |
Postretirement Asset Allocation | 34.00% | 33.00% |
Qualified Pension Plans [Member] | Other Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target | 0.00% | |
Range, Minimum | 0.00% | |
Range, Maximum | 10.00% | |
Postretirement Asset Allocation | 1.00% | 1.00% |
Retirement, Other Postretire104
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Investments Held For Qualified Pension And Other Postretirement Plans Measured At Fair Value) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | $ 6,122,808 | $ 5,208,228 | |
Cash | 1,508 | 929 | |
Other pending transactions | 5,179 | 8,869 | |
Less: Other postretirement assets included in total investments | (58,179) | (46,824) | |
Total fair value of qualified pension assets | 6,071,316 | 5,171,202 | |
Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 3,610 | ||
Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 11,461 | 6,423 | |
Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 663,957 | 745,754 | |
Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 3,198,799 | 2,072,743 | |
Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 335,818 | ||
Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 638,832 | 370,681 | |
Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 619,735 | 630,726 | |
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 125,174 | 258,879 | |
Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 764,251 | 640,836 | |
Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 62,605 | 105,647 | |
Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 37,994 | 37,111 | |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 600,154 | 549,732 | |
Other pending transactions | 994 | 104 | |
Plus: Other postretirement assets included in the investments of the qualified pension trust | 58,179 | 46,824 | |
Total fair value of qualified pension assets | 659,327 | 596,660 | $ 579,069 |
Other Postretirement Benefit Plan [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 300,139 | 368,704 | |
Other Postretirement Benefit Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 158,392 | 73,729 | |
Other Postretirement Benefit Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 92,869 | 58,787 | |
Other Postretirement Benefit Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 3,127 | 3,123 | |
Other Postretirement Benefit Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 45,627 | 45,389 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 846,372 | 1,046,403 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | ||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 11,461 | 6,423 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 663,923 | 745,715 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 136 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 125,174 | 258,879 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 45,768 | 35,216 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 46 | 34 | |
Fair Value Inputs Level 1 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 84,729 | 33,755 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefit Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 81,602 | 30,632 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefit Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefit Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 3,127 | 3,123 | |
Fair Value Inputs Level 1 [Member] | Other Postretirement Benefit Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 1,361,889 | 1,150,339 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 3,610 | ||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 34 | 39 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 638,832 | 370,545 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 619,735 | 630,726 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 2,735 | 2,695 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 62,559 | 105,613 | |
Fair Value Inputs Level 2 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 37,994 | 37,111 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 215,286 | 147,273 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefit Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 76,790 | 43,097 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefit Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 92,869 | 58,787 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefit Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Other Postretirement Benefit Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 45,627 | 45,389 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Interest Bearing Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | ||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Preferred [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Stock [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | ||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Common Collective Trusts [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | 103-12 Investment Entities [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | |||
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Qualified Pension Plans [Member] | Insurance Company General Account (Unallocated Contracts) [Member] | Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefit Plan [Member] | U.S. Government securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefit Plan [Member] | Corporate Debt Securities [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefit Plan [Member] | Registered Investment Companies [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Other Postretirement Benefit Plan [Member] | Other [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Investments | $ 0 | $ 0 |
Retirement, Other Postretire105
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Estimated Future Benefit Payments) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | $ 745 |
Estimated Future Medicare Subsidy Receipts, Year Two | 842 |
Estimated Future Medicare Subsidy Receipts, Year Three | 956 |
Estimated Future Medicare Subsidy Receipts, Year Four | 1,071 |
Estimated Future Medicare Subsidy Receipts, Year Five | 1,195 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 8,109 |
Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 412,057 |
Estimated Future Benefits Payments, Year Two | 435,880 |
Estimated Future Benefits Payments, Year Three | 447,224 |
Estimated Future Benefits Payments, Year Four | 462,624 |
Estimated Future Benefits Payments, Year Five | 470,846 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,478,959 |
Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 26,375 |
Estimated Future Benefits Payments, Year Two | 10,108 |
Estimated Future Benefits Payments, Year Three | 13,364 |
Estimated Future Benefits Payments, Year Four | 10,765 |
Estimated Future Benefits Payments, Year Five | 17,425 |
Estimated Future Benefits Payments, Year Six - Year Ten | 72,181 |
Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 82,087 |
Estimated Future Benefits Payments, Year Two | 86,685 |
Estimated Future Benefits Payments, Year Three | 89,508 |
Estimated Future Benefits Payments, Year Four | 92,087 |
Estimated Future Benefits Payments, Year Five | 94,427 |
Estimated Future Benefits Payments, Year Six - Year Ten | 475,991 |
Entergy Arkansas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 164 |
Estimated Future Medicare Subsidy Receipts, Year Two | 185 |
Estimated Future Medicare Subsidy Receipts, Year Three | 209 |
Estimated Future Medicare Subsidy Receipts, Year Four | 230 |
Estimated Future Medicare Subsidy Receipts, Year Five | 254 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 1,646 |
Entergy Arkansas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 87,295 |
Estimated Future Benefits Payments, Year Two | 87,832 |
Estimated Future Benefits Payments, Year Three | 88,905 |
Estimated Future Benefits Payments, Year Four | 90,278 |
Estimated Future Benefits Payments, Year Five | 92,061 |
Estimated Future Benefits Payments, Year Six - Year Ten | 479,160 |
Entergy Arkansas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 376 |
Estimated Future Benefits Payments, Year Two | 300 |
Estimated Future Benefits Payments, Year Three | 355 |
Estimated Future Benefits Payments, Year Four | 310 |
Estimated Future Benefits Payments, Year Five | 506 |
Estimated Future Benefits Payments, Year Six - Year Ten | 2,196 |
Entergy Arkansas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 15,282 |
Estimated Future Benefits Payments, Year Two | 15,398 |
Estimated Future Benefits Payments, Year Three | 15,349 |
Estimated Future Benefits Payments, Year Four | 15,483 |
Estimated Future Benefits Payments, Year Five | 15,419 |
Estimated Future Benefits Payments, Year Six - Year Ten | 75,293 |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 168 |
Estimated Future Medicare Subsidy Receipts, Year Two | 187 |
Estimated Future Medicare Subsidy Receipts, Year Three | 210 |
Estimated Future Medicare Subsidy Receipts, Year Four | 234 |
Estimated Future Medicare Subsidy Receipts, Year Five | 257 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 1,720 |
Entergy Louisiana [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 93,155 |
Estimated Future Benefits Payments, Year Two | 96,060 |
Estimated Future Benefits Payments, Year Three | 100,179 |
Estimated Future Benefits Payments, Year Four | 103,810 |
Estimated Future Benefits Payments, Year Five | 107,609 |
Estimated Future Benefits Payments, Year Six - Year Ten | 571,926 |
Entergy Louisiana [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 231 |
Estimated Future Benefits Payments, Year Two | 219 |
Estimated Future Benefits Payments, Year Three | 208 |
Estimated Future Benefits Payments, Year Four | 196 |
Estimated Future Benefits Payments, Year Five | 186 |
Estimated Future Benefits Payments, Year Six - Year Ten | 749 |
Entergy Louisiana [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 18,962 |
Estimated Future Benefits Payments, Year Two | 19,767 |
Estimated Future Benefits Payments, Year Three | 20,287 |
Estimated Future Benefits Payments, Year Four | 20,756 |
Estimated Future Benefits Payments, Year Five | 21,250 |
Estimated Future Benefits Payments, Year Six - Year Ten | 108,290 |
Entergy Mississippi [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 58 |
Estimated Future Medicare Subsidy Receipts, Year Two | 65 |
Estimated Future Medicare Subsidy Receipts, Year Three | 70 |
Estimated Future Medicare Subsidy Receipts, Year Four | 76 |
Estimated Future Medicare Subsidy Receipts, Year Five | 82 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 514 |
Entergy Mississippi [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 25,833 |
Estimated Future Benefits Payments, Year Two | 25,977 |
Estimated Future Benefits Payments, Year Three | 27,198 |
Estimated Future Benefits Payments, Year Four | 27,508 |
Estimated Future Benefits Payments, Year Five | 27,389 |
Estimated Future Benefits Payments, Year Six - Year Ten | 141,912 |
Entergy Mississippi [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 135 |
Estimated Future Benefits Payments, Year Two | 137 |
Estimated Future Benefits Payments, Year Three | 290 |
Estimated Future Benefits Payments, Year Four | 192 |
Estimated Future Benefits Payments, Year Five | 201 |
Estimated Future Benefits Payments, Year Six - Year Ten | 1,462 |
Entergy Mississippi [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 4,677 |
Estimated Future Benefits Payments, Year Two | 4,818 |
Estimated Future Benefits Payments, Year Three | 5,043 |
Estimated Future Benefits Payments, Year Four | 5,218 |
Estimated Future Benefits Payments, Year Five | 5,331 |
Estimated Future Benefits Payments, Year Six - Year Ten | 26,723 |
Entergy New Orleans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 38 |
Estimated Future Medicare Subsidy Receipts, Year Two | 39 |
Estimated Future Medicare Subsidy Receipts, Year Three | 41 |
Estimated Future Medicare Subsidy Receipts, Year Four | 43 |
Estimated Future Medicare Subsidy Receipts, Year Five | 46 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 259 |
Entergy New Orleans [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 11,484 |
Estimated Future Benefits Payments, Year Two | 12,202 |
Estimated Future Benefits Payments, Year Three | 12,463 |
Estimated Future Benefits Payments, Year Four | 13,087 |
Estimated Future Benefits Payments, Year Five | 13,207 |
Estimated Future Benefits Payments, Year Six - Year Ten | 69,595 |
Entergy New Orleans [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 21 |
Estimated Future Benefits Payments, Year Two | 55 |
Estimated Future Benefits Payments, Year Three | 36 |
Estimated Future Benefits Payments, Year Four | 39 |
Estimated Future Benefits Payments, Year Five | 41 |
Estimated Future Benefits Payments, Year Six - Year Ten | 459 |
Entergy New Orleans [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 3,954 |
Estimated Future Benefits Payments, Year Two | 4,000 |
Estimated Future Benefits Payments, Year Three | 3,952 |
Estimated Future Benefits Payments, Year Four | 3,899 |
Estimated Future Benefits Payments, Year Five | 3,800 |
Estimated Future Benefits Payments, Year Six - Year Ten | 17,698 |
Entergy Texas [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 64 |
Estimated Future Medicare Subsidy Receipts, Year Two | 69 |
Estimated Future Medicare Subsidy Receipts, Year Three | 75 |
Estimated Future Medicare Subsidy Receipts, Year Four | 81 |
Estimated Future Medicare Subsidy Receipts, Year Five | 88 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 552 |
Entergy Texas [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 25,333 |
Estimated Future Benefits Payments, Year Two | 25,656 |
Estimated Future Benefits Payments, Year Three | 26,399 |
Estimated Future Benefits Payments, Year Four | 26,756 |
Estimated Future Benefits Payments, Year Five | 26,310 |
Estimated Future Benefits Payments, Year Six - Year Ten | 130,905 |
Entergy Texas [Member] | Non-Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 788 |
Estimated Future Benefits Payments, Year Two | 764 |
Estimated Future Benefits Payments, Year Three | 895 |
Estimated Future Benefits Payments, Year Four | 723 |
Estimated Future Benefits Payments, Year Five | 662 |
Estimated Future Benefits Payments, Year Six - Year Ten | 3,762 |
Entergy Texas [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 6,485 |
Estimated Future Benefits Payments, Year Two | 6,842 |
Estimated Future Benefits Payments, Year Three | 7,101 |
Estimated Future Benefits Payments, Year Four | 7,369 |
Estimated Future Benefits Payments, Year Five | 7,519 |
Estimated Future Benefits Payments, Year Six - Year Ten | 36,897 |
System Energy [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Medicare Subsidy Receipts, Year One | 23 |
Estimated Future Medicare Subsidy Receipts, Year Two | 27 |
Estimated Future Medicare Subsidy Receipts, Year Three | 33 |
Estimated Future Medicare Subsidy Receipts, Year Four | 38 |
Estimated Future Medicare Subsidy Receipts, Year Five | 46 |
Estimated Future Medicare Subsidy Receipts, Year Six - Year Ten | 346 |
System Energy [Member] | Qualified Pension Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 17,780 |
Estimated Future Benefits Payments, Year Two | 18,566 |
Estimated Future Benefits Payments, Year Three | 19,398 |
Estimated Future Benefits Payments, Year Four | 20,279 |
Estimated Future Benefits Payments, Year Five | 21,714 |
Estimated Future Benefits Payments, Year Six - Year Ten | 117,835 |
System Energy [Member] | Other Postretirement Benefit Obligations [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated Future Benefits Payments, Year One | 3,246 |
Estimated Future Benefits Payments, Year Two | 3,363 |
Estimated Future Benefits Payments, Year Three | 3,381 |
Estimated Future Benefits Payments, Year Four | 3,537 |
Estimated Future Benefits Payments, Year Five | 3,595 |
Estimated Future Benefits Payments, Year Six - Year Ten | $ 17,677 |
Retirement, Other Postretire106
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Expected Employer Contributions) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 52,300 |
Entergy Arkansas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 64,062 |
Entergy Arkansas [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 472 |
Entergy Louisiana [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 71,917 |
Entergy Louisiana [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 18,962 |
Entergy Mississippi [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 14,933 |
Entergy Mississippi [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 110 |
Entergy New Orleans [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 7,250 |
Entergy New Orleans [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,669 |
Entergy Texas [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 10,883 |
Entergy Texas [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 3,231 |
System Energy [Member] | Pension Plans, Defined Benefit [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | 13,786 |
System Energy [Member] | Other Postretirement Benefit Plan [Member] | |
Change in Plan Assets | |
Expected Employer Contributions | $ 16 |
Retirement, Other Postretire107
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Pension And Other Postretirement Benefit Obligation) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 3.98% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Pre-65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 6.95% | 6.55% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,027 | 2,026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Post - 65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 7.25% | 7.25% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,027 | 2,026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Blended weighted-average discount rate | 3.78% | 4.39% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.72% | 4.30% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.34% | 3.63% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.70% | 4.30% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate | 3.82% | 4.49% | |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 4.23% | 4.23% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | 4.75% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Pre-65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 6.55% | 6.75% | 7.10% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | 2,023 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Post - 65 Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assumed health care cost trend rate | 7.25% | 7.55% | 7.70% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | 2,023 |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.75% | 8.05% | |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 6.50% | ||
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% |
Retirement, Other Postretire108
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Actuarial Assumptions Used In Determining Net Periodic And Other Postretirement Benefit Obligation) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 4.23% | 4.23% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | 4.75% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Pre-65 Retirees [Member] | |||
Assumed health care cost trend rate | 6.55% | 6.75% | 7.10% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | 2,023 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 7.25% | 7.55% | 7.70% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,026 | 2,024 | 2,023 |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 4.75% | 5.00% | 4.27% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.73% | 3.90% | 4.27% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement Benefit Plan [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 4.60% | 4.92% | 4.23% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Other Postretirement Benefit Plan [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.61% | 3.78% | 4.23% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Service Cost [Member] | |||
Weighted-average discount rate | 3.65% | 3.65% | 3.61% |
Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Non-Qualified Pension Plans [Member] | Interest Cost [Member] | |||
Weighted-average discount rate | 3.10% | 3.10% | 3.61% |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | |||
Weighted-average rate of increase in future compensation levels | 3.98% | 3.98% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.75% | 4.75% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Pre-65 Retirees [Member] | |||
Assumed health care cost trend rate | 6.95% | 6.55% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,027 | 2,026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Post - 65 Retirees [Member] | |||
Assumed health care cost trend rate | 7.25% | 7.25% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2,027 | 2,026 | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Qualified Pension Plans [Member] | |||
Blended weighted-average discount rate | 3.78% | 4.39% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Other Postretirement Benefit Plan [Member] | |||
Weighted-average discount rate | 3.72% | 4.30% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Non-Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.34% | 3.63% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Minimum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.70% | 4.30% | |
Pension Postretirement Benefit Obligations And Other Postretirement Accumulated Postretirement Benefit Obligations [Member] | Maximum [Member] | Qualified Pension Plans [Member] | |||
Weighted-average discount rate | 3.82% | 4.49% | |
Pension Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | 7.75% | 8.25% |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.75% | 8.05% | |
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Minimum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 6.50% | ||
Other Postretirement Non Taxable Assets [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | Maximum [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | ||
Taxable [Member] | Net Periodic Pension And Other Postretirement Benefit Costs [Member] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 5.75% | 6.00% | 6.25% |
Retirement, Other Postretire109
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (One Percentage Point Change In Assumed Health Care Cost Trend Rate) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
1 Percentage Point Increase, Impact on the APBO | $ 166,814 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 10,221 |
1 Percentage Point Decrease, Impact on the APBO | (139,648) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (8,385) |
Entergy Arkansas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 23,612 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 1,369 |
1 Percentage Point Decrease, Impact on the APBO | (19,810) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (1,133) |
Entergy Louisiana [Member] | |
1 Percentage Point Increase, Impact on the APBO | 37,240 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 2,333 |
1 Percentage Point Decrease, Impact on the APBO | (31,063) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (1,909) |
Entergy Mississippi [Member] | |
1 Percentage Point Increase, Impact on the APBO | 8,666 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 448 |
1 Percentage Point Decrease, Impact on the APBO | (7,276) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (370) |
Entergy New Orleans [Member] | |
1 Percentage Point Increase, Impact on the APBO | 4,585 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 251 |
1 Percentage Point Decrease, Impact on the APBO | (3,895) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (208) |
Entergy Texas [Member] | |
1 Percentage Point Increase, Impact on the APBO | 12,444 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 751 |
1 Percentage Point Decrease, Impact on the APBO | (10,452) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | (618) |
System Energy [Member] | |
1 Percentage Point Increase, Impact on the APBO | 7,334 |
1 Percentage Point Increase, Impact on the sum of service costs and interest cost | 475 |
1 Percentage Point Decrease, Impact on the APBO | (6,074) |
1 Percentage Point Decrease, Impact on the sum of service costs and interest cost | $ (387) |
Retirement, Other Postretire110
Retirement, Other Postretirement Benefits, And Defined Contribution Plans (Contributions To Defined Contribution Plans) (Details) - Defined Contribution Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entergy Arkansas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 3,741 | $ 3,528 | $ 3,242 |
Entergy Louisiana [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 5,079 | 4,746 | 4,324 |
Entergy Mississippi [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 2,133 | 1,997 | 1,920 |
Entergy New Orleans [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 731 | 708 | 721 |
Entergy Texas [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 1,865 | $ 1,778 | $ 1,620 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) | Jan. 26, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares available for grant | 3,498,788 | ||||||
Number of shares authorized | 6,900,000 | ||||||
Employee Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 6,000,000 | $ 5,000,000 | $ 4,000,000 | ||||
Expiration of stock-based awards | 10 years | ||||||
Percentage of after tax net profit to be retained by the executive officer to achieve ownership position | 75.00% | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 6.54 | $ 7.40 | $ 11.41 | ||||
Total intrinsic value of options exercised | $ 11,000,000 | $ 5,000,000 | $ 5,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 0 | ||||||
Total Fair Value of In-The-Money Options | 32,000,000 | ||||||
Cost related to non-vested stock options outstanding not yet recognized | $ 6,000,000 | ||||||
Recognition period | 1 year 8 months 13 days | ||||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | $ 81,000,000 | ||||||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | 4,000,000 | ||||||
Incentive Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 19,000,000 | 21,000,000 | 16,000,000 | ||||
Average award vesting period | 3 years | ||||||
Top Quartile Performance Maximum Payout Target | 200.00% | ||||||
Incentive Stock Options [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares available for grant | 1,500,000 | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 71.40 | ||||||
Long term incentive plan awards (in shares) | 220,450 | ||||||
Incentive Stock Options [Member] | 2012-2014 Long-Term Performance Unit Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 88.67 | ||||||
Long term incentive plan awards (in shares) | 105,503 | ||||||
Incentive Stock Options [Member] | 2013-2015 Long-Term Performance Unit Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 68.09 | ||||||
Long term incentive plan awards (in shares) | 54,103 | ||||||
Incentive Stock Options [Member] | 2014-2016 Long-Term Performance Unit Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 71.89 | ||||||
Long term incentive plan awards (in shares) | 86,964 | ||||||
Restricted Awards [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | $ 29,000,000 | 29,047,000 | 29,047,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 24,000,000 | 23,000,000 | 29,000,000 | ||||
Restricted Awards [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares available for grant | 379,850 | ||||||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 70.53 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants, Fair Value | 3,000,000 | 5,000,000 | 4,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 0 | $ 2,000,000 | $ 1,000,000 | ||||
Average award vesting period | 41 months | ||||||
Number of unvested restricted units expected to vest | 201,570 | ||||||
Period expected for vesting unvested restricted units | 24 months | ||||||
Maximum [Member] | Incentive Stock Options [Member] | Equity Ownership And Long Term Cash Incentive Plan 2015 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of shares authorized | 1,500,000 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Financial Information Of Options) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 6 | $ 5 | $ 4 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 4.4 | 4.4 | 4.3 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 1.7 | 1.7 | 1.6 |
Compensation cost capitalized as part of fixed assets and inventory | 0.7 | 0.7 | 0.7 |
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 24 | 23 | 29 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 19.7 | 19.8 | 19.5 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 7.6 | 7.6 | 7.5 |
Compensation cost capitalized as part of fixed assets and inventory | 5.2 | 4.5 | 3.9 |
Long-Term Incentive Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense included in Entergy's Consolidated Net Income for the year | 10.8 | 12.3 | 11.8 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 4.2 | 4.8 | 4.5 |
Compensation cost capitalized as part of fixed assets and inventory | 3 | 2.9 | 2.3 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 0 | 2 | 1 |
Compensation expense included in Entergy's Consolidated Net Income for the year | 2.5 | 2.2 | 0.9 |
Tax benefit (expense) recognized in Entergy's Consolidated Net Income for the year | 1 | 0.8 | 0.4 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.6 | $ 0.4 | $ 0.3 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Option Weighted-Average Assumptions Used In Determining Fair Values) (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price volatility | 18.39% | 20.38% | 23.62% |
Expected term | 7 years 128 days | 7 years 90 days | 7 years 22 days |
Risk-free interest rate | 2.31% | 1.77% | 1.59% |
Dividend yield | 4.75% | 4.50% | 4.50% |
Dividend payment per share | $ 3.50 | $ 3.42 | $ 3.34 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 7,137,210 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 84.91 | ||
Number of options granted | 791,900 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 70.53 | ||
Number of options exercised | (1,109,306) | ||
Options exercised, Weighted-average exercise price (in usd per share) | $ 72.74 | ||
Number of Options forfeited/expired | (1,654,950) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 91.36 | ||
Number of options outstanding, Ending balance | 5,164,854 | 7,137,210 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 83.26 | $ 84.91 | |
Weighted-Average Contractual Life, Options outstanding | 4 years 2 months 4 days | ||
Options exercisable, Number of Options | 4,027,902 | ||
Options exercisable, Weighted-Average Exercise Price (in usd per share) | $ 86.37 | ||
Options exercisable, Aggregate intrinsic value (in usd per share) | $ 0 | ||
Weighted-Average Contractual Life, Options exercisable | 2 years 11 months 10 days | ||
Weighted-average grant-date fair value of options granted (in USD per share) | $ 6.54 | $ 7.40 | $ 11.41 |
Restricted Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 683,474 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 74.80 | ||
Number of options granted | 410,787 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 70.71 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (330,816) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 73.61 | ||
Number of Options forfeited/expired | (53,834) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 75.63 | ||
Number of options outstanding, Ending balance | 709,611 | 683,474 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 72.92 | $ 74.80 | |
Long-Term Incentive Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 571,551 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 82.02 | ||
Number of options granted | 258,808 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 72.28 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (86,964) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 67.16 | ||
Number of Options forfeited/expired | (209,244) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 72.12 | ||
Number of options outstanding, Ending balance | 534,151 | 571,551 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 83.60 | $ 82.02 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options outstanding, Beginning balance | 181,650 | ||
Options outstanding, Weighted-average exercise price, Beginning balance (in usd per share) | $ 74.94 | ||
Number of options granted | 40,170 | ||
Options granted, Weighted-average exercise price (in usd per share) | $ 79.10 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | (5,800) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 73.22 | ||
Number of Options forfeited/expired | (14,450) | ||
Options forfeited/expired, Weighted-average exercise price (in usd per share) | $ 79.69 | ||
Number of options outstanding, Ending balance | 201,570 | 181,650 | |
Options outstanding, Weighted-average exercise price, Ending balance (in usd per share) | $ 75.48 | $ 74.94 |
Stock-Based Compensation (Su115
Stock-Based Compensation (Summary Of Stock Options Outstanding Information) (Details) - Employee Stock Option [Member] | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | $ 51 |
Exercise Price, maximum (in usd per share) | $ 108.20 |
Number of Outstanding Options | shares | 5,164,854 |
Weighted-Avg. Remaining Contractual Life-Yrs | 4 years 2 months 5 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 83.26 |
Number of Exercisable Options | shares | 4,027,902 |
Weighted-Avg. Exercise Price (in usd per share) | $ 86.37 |
Range Of Exercise Prices 2 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 65 |
Exercise Price, maximum (in usd per share) | $ 78.99 |
Number of Outstanding Options | shares | 2,790,045 |
Weighted-Avg. Remaining Contractual Life-Yrs | 5 years 6 months 22 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 72.94 |
Number of Exercisable Options | shares | 1,751,402 |
Weighted-Avg. Exercise Price (in usd per share) | $ 74.36 |
Range Of Exercise Prices 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 79 |
Exercise Price, maximum (in usd per share) | $ 91.99 |
Number of Outstanding Options | shares | 441,000 |
Weighted-Avg. Remaining Contractual Life-Yrs | 6 years 12 months 30 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 89.90 |
Number of Exercisable Options | shares | 342,691 |
Weighted-Avg. Exercise Price (in usd per share) | $ 89.90 |
Range Of Exercise Prices 4 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 92 |
Exercise Price, maximum (in usd per share) | $ 108.20 |
Number of Outstanding Options | shares | 1,431,100 |
Weighted-Avg. Remaining Contractual Life-Yrs | 22 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 108.20 |
Number of Exercisable Options | shares | 1,431,100 |
Weighted-Avg. Exercise Price (in usd per share) | $ 108.20 |
Range Of Exercise Prices1 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, minimum (in usd per share) | 51 |
Exercise Price, maximum (in usd per share) | $ 64.99 |
Number of Outstanding Options | shares | 502,709 |
Weighted-Avg. Remaining Contractual Life-Yrs | 5 years 8 months 24 days |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.68 |
Number of Exercisable Options | shares | 502,709 |
Weighted-Avg. Exercise Price (in usd per share) | $ 63.68 |
Business Segment Information (N
Business Segment Information (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Asset Write-Offs, Impairments, And Related Charges | $ 357,251 | $ 2,835,637 | $ 2,104,906 |
Entergy Wholesale Commodities [Member] | |||
Segment Reporting Information [Line Items] | |||
Restructuring costs incurred, pre-tax | 113,000 | 95,000 | |
Asset Write-Offs, Impairments, And Related Charges | 538,000 | $ 2,836,000 | |
Projected Severance and Employee Retention Costs for 2018 | 165,000 | ||
Projected Severance and Employee Retention Costs for 2019-2022 | $ 205,000 |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Segment Financial Information | ||||||||||||||
Interest expense | $ 662,343 | $ 666,370 | $ 643,469 | |||||||||||
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) | |||||||||||
Consolidated net income (loss) | $ (475,710) | $ 401,644 | $ 413,368 | $ 86,051 | $ (1,765,539) | $ 393,204 | $ 572,590 | $ 235,242 | 425,353 | [1] | (564,503) | [1] | (156,734) | [1] |
Total assets | 46,707,149 | 45,904,434 | 46,707,149 | 45,904,434 | ||||||||||
Investment in affiliates - at equity | 198 | 198 | 198 | 198 | ||||||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372 | 2,835,637 | 2,104,906 | |||||||||||
Utility [Member] | ||||||||||||||
Segment Financial Information | ||||||||||||||
Operating revenues | 9,417,866 | 8,996,106 | 9,451,486 | |||||||||||
Depreciation, amortization, & decommissioning | 1,345,906 | 1,298,043 | 1,238,832 | |||||||||||
Interest and investment income | 218,317 | 189,994 | 191,546 | |||||||||||
Interest expense | 547,301 | 557,546 | 543,132 | |||||||||||
Income Tax Expense (Benefit) | 794,616 | 424,388 | 16,761 | |||||||||||
Consolidated net income (loss) | 773,148 | 1,151,133 | 1,114,516 | |||||||||||
Total assets | 42,978,669 | 41,098,751 | 42,978,669 | 41,098,751 | 38,356,906 | |||||||||
Investment in affiliates - at equity | 198 | 198 | 198 | 198 | 199 | |||||||||
Cash paid for long-lived asset additions | 3,680,513 | 3,754,225 | 2,495,194 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 68,672 | |||||||||||
Entergy Wholesale Commodities [Member] | ||||||||||||||
Segment Financial Information | ||||||||||||||
Operating revenues | 1,656,730 | 1,849,638 | 2,061,827 | |||||||||||
Depreciation, amortization, & decommissioning | 448,079 | 374,922 | 376,560 | |||||||||||
Interest and investment income | 224,121 | 108,466 | 148,654 | |||||||||||
Interest expense | 23,714 | 22,858 | 26,788 | |||||||||||
Income Tax Expense (Benefit) | (146,480) | (1,192,263) | (610,339) | |||||||||||
Consolidated net income (loss) | (172,335) | (1,493,124) | (1,065,657) | |||||||||||
Total assets | 5,638,009 | 6,696,038 | 5,638,009 | 6,696,038 | 8,210,183 | |||||||||
Investment in affiliates - at equity | 0 | 0 | 0 | 0 | 4,142 | |||||||||
Cash paid for long-lived asset additions | 320,667 | 289,639 | 569,824 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372 | 2,835,637 | 2,036,234 | |||||||||||
All Other [Member] | ||||||||||||||
Segment Financial Information | ||||||||||||||
Operating revenues | 0 | 0 | 0 | |||||||||||
Depreciation, amortization, & decommissioning | 1,678 | 1,647 | 2,156 | |||||||||||
Interest and investment income | 21,669 | 27,385 | 34,303 | |||||||||||
Interest expense | 139,619 | 139,090 | 129,750 | |||||||||||
Income Tax Expense (Benefit) | (105,566) | (49,384) | (49,349) | |||||||||||
Consolidated net income (loss) | (47,840) | (94,917) | (74,353) | |||||||||||
Total assets | 1,011,612 | 1,283,816 | 1,011,612 | 1,283,816 | (461,505) | |||||||||
Investment in affiliates - at equity | 0 | 0 | 0 | 0 | 0 | |||||||||
Cash paid for long-lived asset additions | 438 | 393 | 236 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | |||||||||||
Eliminations [Member] | ||||||||||||||
Segment Financial Information | ||||||||||||||
Operating revenues | (115) | (99) | (62) | |||||||||||
Depreciation, amortization, & decommissioning | 0 | 0 | 0 | |||||||||||
Interest and investment income | (175,910) | (180,718) | (187,441) | |||||||||||
Interest expense | (48,291) | (53,124) | (56,201) | |||||||||||
Income Tax Expense (Benefit) | 0 | 0 | 0 | |||||||||||
Consolidated net income (loss) | (127,620) | (127,595) | (131,240) | |||||||||||
Total assets | (2,921,141) | (3,174,171) | (2,921,141) | (3,174,171) | (1,457,903) | |||||||||
Investment in affiliates - at equity | 0 | 0 | 0 | 0 | 0 | |||||||||
Cash paid for long-lived asset additions | 0 | 0 | 0 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | 0 | 0 | 0 | |||||||||||
Consolidated Entities [Member] | ||||||||||||||
Segment Financial Information | ||||||||||||||
Operating revenues | 11,074,481 | 10,845,645 | 11,513,251 | |||||||||||
Depreciation, amortization, & decommissioning | 1,795,663 | 1,674,612 | 1,617,548 | |||||||||||
Interest and investment income | 288,197 | 145,127 | 187,062 | |||||||||||
Interest expense | 662,343 | 666,370 | 643,469 | |||||||||||
Income Tax Expense (Benefit) | 542,570 | (817,259) | (642,927) | |||||||||||
Consolidated net income (loss) | 425,353 | (564,503) | (156,734) | |||||||||||
Total assets | 46,707,149 | 45,904,434 | 46,707,149 | 45,904,434 | 44,647,681 | |||||||||
Investment in affiliates - at equity | $ 198 | $ 198 | 198 | 198 | 4,341 | |||||||||
Cash paid for long-lived asset additions | 4,001,618 | 4,044,257 | 3,065,254 | |||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 538,372 | $ 2,835,637 | $ 2,104,906 | |||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Business Segment Information118
Business Segment Information Business Segment Information (Restructuring Costs) (Details) - Entergy Wholesale Commodities [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | $ 113 | $ 95 | |
Paid in cash | 100 | 1 | |
Non-cash portion | (7) | (3) | |
Restructuring Reserve | 97 | 91 | $ 0 |
Employee Retention and Severances Expenses and Other Benefits-Related Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 113 | 74 | |
Paid in cash | 100 | 1 | |
Non-cash portion | 0 | (3) | |
Restructuring Reserve | 83 | 70 | 0 |
Economic Development Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | 21 | |
Paid in cash | 0 | 0 | |
Non-cash portion | (7) | 0 | |
Restructuring Reserve | $ 14 | $ 21 | $ 0 |
Acquisitions, Dispositions, 119
Acquisitions, Dispositions, and Impairment of Long-Lived Assets (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 96 Months Ended | ||||||||||||||||||
Sep. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Nov. 30, 2016USD ($) | Aug. 31, 2016MW | Mar. 31, 2016USD ($)MW | Dec. 31, 2015USD ($)MW | Dec. 31, 2014USD ($) | Mar. 31, 2017USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2022USD ($)$ / MWh | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($)$ / MWh | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2007$ / MWh | Dec. 31, 2014USD ($)$ / MWh | Jan. 31, 2017USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | |
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 538,372,000 | $ 2,835,637,000 | $ 2,104,906,000 | ||||||||||||||||||||
Requested payment to Entergy for early termination of purchased power agreement | $ 172,000,000 | ||||||||||||||||||||||
Approved payment to Entergy for early termination of purchased power agreement by regulatory authority | $ 136,600,000 | ||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | 3,500,000,000 | ||||||||||||||||||||||
Amount Drawn/ Outstanding | 210,000,000 | ||||||||||||||||||||||
Receivables recorded for beneficial interests in decommissioning trust funds | $ 1,500,000,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 6,706,800,000 | $ 4,790,200,000 | 6,185,800,000 | 6,706,800,000 | 4,790,200,000 | ||||||||||||||||||
Decommissioning Fund Investments | 5,723,897,000 | 7,211,993,000 | 5,723,897,000 | ||||||||||||||||||||
Gain on sale of asset | 16,270,000 | 0 | 154,037,000 | ||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 357,251,000 | 2,835,637,000 | 2,104,906,000 | ||||||||||||||||||||
Decommissioning | 405,685,000 | 327,425,000 | 280,272,000 | ||||||||||||||||||||
Assets, Fair Value Disclosure | 7,311,000,000 | 8,414,000,000 | 7,311,000,000 | ||||||||||||||||||||
Entergy Arkansas [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Retirement Obligation | 924,400,000 | 872,300,000 | 981,200,000 | 924,400,000 | 872,300,000 | ||||||||||||||||||
Decommissioning Fund Investments | 834,735,000 | 944,890,000 | 834,735,000 | ||||||||||||||||||||
Decommissioning | 56,860,000 | 53,610,000 | 50,414,000 | ||||||||||||||||||||
Assets, Fair Value Disclosure | 851,300,000 | 954,000,000 | 851,300,000 | ||||||||||||||||||||
Entergy New Orleans [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Retirement Obligation | 2,900,000 | 2,700,000 | 3,100,000 | 2,900,000 | 2,700,000 | ||||||||||||||||||
Assets, Fair Value Disclosure | 194,600,000 | 118,300,000 | 194,600,000 | ||||||||||||||||||||
Entergy Louisiana [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 16,000,000 | ||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (474,000,000) | ||||||||||||||||||||||
Asset Retirement Obligation | 1,082,700,000 | 1,027,900,000 | 1,140,500,000 | 1,082,700,000 | 1,027,900,000 | ||||||||||||||||||
Decommissioning Fund Investments | 1,140,707,000 | 1,312,073,000 | 1,140,707,000 | ||||||||||||||||||||
Decommissioning | 49,457,000 | 46,944,000 | 43,445,000 | ||||||||||||||||||||
Assets, Fair Value Disclosure | 1,632,500,000 | 1,643,900,000 | 1,632,500,000 | ||||||||||||||||||||
Entergy Mississippi [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Retirement Obligation | 8,700,000 | 8,300,000 | 9,200,000 | 8,700,000 | 8,300,000 | ||||||||||||||||||
Assets, Fair Value Disclosure | 114,100,000 | 38,600,000 | 114,100,000 | ||||||||||||||||||||
India Point Three [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Future payment to NYPA for power sold | $ / MWh | 6.59 | ||||||||||||||||||||||
Annual cap for future payment to NYPA for power sold | $ 48,000,000 | ||||||||||||||||||||||
FitzPatrick [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 16,000,000 | ||||||||||||||||||||||
Future payment to NYPA for power sold | $ / MWh | 3.91 | ||||||||||||||||||||||
Annual cap for future payment to NYPA for power sold | $ 24,000,000 | ||||||||||||||||||||||
Asset Retirement Obligation | 714,300,000 | 0 | 0 | 714,300,000 | 0 | ||||||||||||||||||
Decommissioning Fund Investments | 805,000,000 | 785,000,000 | $ 805,000,000 | 785,000,000 | $ 793,000,000 | ||||||||||||||||||
Entergy Nuclear Vermont Yankee [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 145,000,000 | 145,000,000 | |||||||||||||||||||||
Proceeds From Sale of Preferred Membership Units | 1,000 | ||||||||||||||||||||||
Amount Drawn/ Outstanding | 104,000,000 | ||||||||||||||||||||||
Net Book Value | 123,000,000 | ||||||||||||||||||||||
Closing condition on market value of decommissioning trust fund investments | 451,950,000 | ||||||||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Retirement Obligation | $ 3,827,400,000 | $ 2,069,500,000 | 3,183,300,000 | $ 3,827,400,000 | $ 2,069,500,000 | ||||||||||||||||||
Palisades [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Weighted Average Cost Of Capital Used In Asset Valuation | 6.50% | 7.50% | 6.50% | 7.50% | |||||||||||||||||||
Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 538,372,000 | $ 2,835,637,000 | $ 2,036,234,000 | ||||||||||||||||||||
Decommissioning Trust Fair Values | $ 2,968,000,000 | 4,049,300,000 | 2,968,000,000 | ||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 538,000,000 | 2,836,000,000 | |||||||||||||||||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | $ 350,000,000 | 1,829,000,000 | |||||||||||||||||||||
FitzPatrick [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | 7.50% | |||||||||||||||||||||
Non-refundable signing fee paid upon agreement and assumption by Exelon of certain liabilities | 10,000,000 | ||||||||||||||||||||||
Decommissioning Trust Fair Values | 805,000,000 | 805,000,000 | |||||||||||||||||||||
Other operation and maintenance expense reimbursement | 98,000,000 | ||||||||||||||||||||||
Receivables recorded for beneficial interests in decommissioning trust funds | 785,000,000 | 785,000,000 | |||||||||||||||||||||
Asset Retirement Obligation | 727,000,000 | 714,000,000 | 727,000,000 | 714,000,000 | |||||||||||||||||||
Proceeds from sale of business | 110,000,000 | ||||||||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Net Book Value | 0 | 0 | |||||||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Time period of PPA | 15 years | ||||||||||||||||||||||
Percentage of plants output covered by PPA | 100.00% | ||||||||||||||||||||||
Price under PPA, lower range | $ / MWh | 43.50 | ||||||||||||||||||||||
Average price under PPA | $ / MWh | 51 | ||||||||||||||||||||||
Amounts amortized to revenue | $ 28,000,000 | 13,000,000 | $ 15,000,000 | ||||||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Accelerated Finite Lived Intangible Assets Amortization Expenses due to termination of PPA | $ 5,000,000 | $ 12,000,000 | $ 11,000,000 | $ 10,000,000 | $ 6,000,000 | ||||||||||||||||||
Scenario, Forecast [Member] | Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Price under PPA, upper range | $ / MWh | 61.50 | ||||||||||||||||||||||
Pilgrim [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | $ 677,000,000 | ||||||||||||||||||||||
Carrying Value of Nuclear Plant | 718,000,000 | ||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 653,000,000 | ||||||||||||||||||||||
Asset Impairment Charges | 24,000,000 | ||||||||||||||||||||||
After-Tax Asset Impairment Charge | 438,000,000 | ||||||||||||||||||||||
Decommissioning | 134,000,000 | ||||||||||||||||||||||
Assets, Fair Value Disclosure | 65,000,000 | ||||||||||||||||||||||
Rhode Island State Energy Center [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Capacity Of Power Plant Unit | MW | 583 | ||||||||||||||||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 154,000,000 | ||||||||||||||||||||||
Proceeds from sale of business | 490,000,000 | ||||||||||||||||||||||
Union Power Station [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Capacity Of Power Plant Unit | MW | 1,980 | ||||||||||||||||||||||
Capacity Per Power Block | MW | 495 | ||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ 0 | ||||||||||||||||||||||
Union Power Station [Member] | Entergy Arkansas [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,323,000) | ||||||||||||||||||||||
Power Blocks Purchased | 1,000,000 | ||||||||||||||||||||||
Percentage of Undivided Ownership Interest | 25.00% | ||||||||||||||||||||||
Union Power Station [Member] | Entergy New Orleans [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,335,000) | ||||||||||||||||||||||
Power Blocks Purchased | 1,000,000 | ||||||||||||||||||||||
Percentage of Undivided Ownership Interest | 25.00% | ||||||||||||||||||||||
Union Power Station [Member] | Entergy Louisiana [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (474,670,000) | ||||||||||||||||||||||
Power Blocks Purchased | 2,000,000 | ||||||||||||||||||||||
Percentage of Undivided Ownership Interest | 50.00% | ||||||||||||||||||||||
Top Deer [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Proceeds from sale of business | $ 500,000 | ||||||||||||||||||||||
Gain on sale of asset | $ 200,000 | ||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||||||||||||
Indian Point [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,343,000,000 | ||||||||||||||||||||||
Carrying Value of Nuclear Plant | 2,619,000,000 | 2,619,000,000 | |||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 2,186,000,000 | ||||||||||||||||||||||
Asset Impairment Charges | 157,000,000 | ||||||||||||||||||||||
After-Tax Asset Impairment Charge | 1,511,000,000 | ||||||||||||||||||||||
Decommissioning | 392,000,000 | ||||||||||||||||||||||
Assets, Fair Value Disclosure | 433,000,000 | 433,000,000 | |||||||||||||||||||||
FitzPatrick [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Capacity Of Power Plant Unit | MW | 838 | ||||||||||||||||||||||
Cost of Reimbursable Expense | $ 8,000,000 | ||||||||||||||||||||||
Reimbursement Revenue | 7,000,000 | ||||||||||||||||||||||
Reimbursement for taxes other than income taxes | 3,000,000 | ||||||||||||||||||||||
Nuclear defueling credit | 10,000,000 | ||||||||||||||||||||||
Income tax benefit resulting from sale of FitzPatrick | $ 44,000,000 | ||||||||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Carrying Value of Nuclear Plant | $ 0 | ||||||||||||||||||||||
FitzPatrick [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 965,000,000 | ||||||||||||||||||||||
Carrying Value of Nuclear Plant | 742,000,000 | ||||||||||||||||||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 335,000,000 | ||||||||||||||||||||||
Present Value Of The Difference Between The Stipulated Contract Amount For Decommissioning The Plants Less The Decommissioning Cost After Impairment | 131,000,000 | ||||||||||||||||||||||
Change in Contract Amount For Decommissioning The Plants Less The Decommissioning Cost | 204,000,000 | ||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 713,000,000 | ||||||||||||||||||||||
Asset Impairment Charges | 48,000,000 | ||||||||||||||||||||||
After-Tax Asset Impairment Charge | 624,000,000 | ||||||||||||||||||||||
Assets, Fair Value Disclosure | $ 29,000,000 | ||||||||||||||||||||||
Palisades [Member] | Entergy Wholesale Commodities [Member] | |||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 400,000,000 | ||||||||||||||||||||||
Carrying Value of Nuclear Plant | 558,000,000 | 859,000,000 | 558,000,000 | 859,000,000 | |||||||||||||||||||
Asset Write-Offs, Impairments, And Related Charges | 352,000,000 | 396,000,000 | |||||||||||||||||||||
Asset Impairment Charges | 48,000,000 | ||||||||||||||||||||||
After-Tax Asset Impairment Charge | 258,000,000 | ||||||||||||||||||||||
Decommissioning | 129,000,000 | 42,000,000 | |||||||||||||||||||||
Assets, Fair Value Disclosure | $ 206,000,000 | $ 463,000,000 | $ 206,000,000 | 463,000,000 | |||||||||||||||||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | $ 256,000,000 |
Acquisitions, Dispositions, 120
Acquisitions, Dispositions, and Impairment of Long-Lived Assets Acquisitions, Dispositions, and Impairments of Long-Lived Assets (Significant Unobservable Inputs) (Details) | Dec. 31, 2016 | Dec. 31, 2015 |
Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.20% | |
Operating Margin Used In Asset Valuation | 19.70% | |
Palisades [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 6.50% | 7.50% |
Operating Margin Used In Asset Valuation | 34.60% | 30.80% |
FitzPatrick [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 10.20% | |
Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.90% | |
Operating Margin Used In Asset Valuation | 8.10% | |
Minimum [Member] | Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.00% | |
Minimum [Member] | Palisades [Member] | ||
Operating Margin Used In Asset Valuation | 17.80% | |
Minimum [Member] | Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Operating Margin Used In Asset Valuation | 2.40% | |
Maximum [Member] | Indian Point Energy Center Units [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 7.50% | |
Maximum [Member] | Palisades [Member] | ||
Operating Margin Used In Asset Valuation | 38.80% | |
Maximum [Member] | Pilgrim [Member] | ||
Weighted Average Cost Of Capital Used In Asset Valuation | 8.00% | |
Operating Margin Used In Asset Valuation | 10.60% |
Risk Management and Fair Val121
Risk Management and Fair Values (Narrative) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018TWh | Dec. 31, 2017USD ($)GWhMMBTUcounterparty | Dec. 31, 2016USD ($)counterparty | Dec. 31, 2015USD ($) | |
Risk Management and Fair Values [Abstract] | ||||
Included in earnings | $ 900 | $ 0 | $ 3,000 | |
Hedging the Variability in Future Cash Flow, Period | 3 years 3 months | |||
Cash flow hedges relating to power sales as part of net unrealized gains | $ 55,000 | |||
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | (59,000) | |||
Maturity of cash flow hedges, Tax | $ 38,000 | $ 103,000 | (85,000) | |
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 8 | 3 | ||
Change in cash flow hedges due to ineffectiveness | $ (3,000) | $ (356) | $ 150 | |
Hedge Contracts In Liability Position | $ 65,000 | 8,000 | ||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 38,540,750 | |||
Total volume of FTRs outstanding (MWh) | GWh | 46,474 | |||
Cash collateral posted | $ 1,000 | 2,000 | ||
Derivative, Collateral, Obligation to Return Cash | 4,000 | |||
Letters of Credit Held | 34,000 | |||
Subsequent Event [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Planned generation sold forward from non utility nuclear power plants | 98.00% | |||
Planned Generation Sold Forward under financial derivatives | 79.00% | |||
Total planned generation for remainder of the period | TWh | 27.9 | |||
Entergy Arkansas [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of Credit Outstanding, Amount | 200 | 300 | ||
Letters of credit posted to cover derivative exposure | $ 200 | |||
Total volume of FTRs outstanding (MWh) | GWh | 10,479 | |||
Entergy Louisiana [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 31,361,500 | |||
Total volume of FTRs outstanding (MWh) | GWh | 20,590 | |||
Entergy Mississippi [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of Credit Outstanding, Amount | $ 100 | $ 100 | ||
Letters of credit posted to cover derivative exposure | $ 100 | |||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 6,714,250 | |||
Total volume of FTRs outstanding (MWh) | GWh | 6,391 | |||
Entergy New Orleans [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 465,000 | |||
Total volume of FTRs outstanding (MWh) | GWh | 2,366 | |||
Entergy Texas [Member] | ||||
Risk Management and Fair Values [Abstract] | ||||
Letters of credit posted to cover derivative exposure | $ 50 | |||
Total volume of FTRs outstanding (MWh) | GWh | 6,322 |
Risk Management and Fair Val122
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Assets: | ||
Derivative asset as hedging instrument offset | $ (4) | |
Liabilities: | ||
Cash collateral posted | 1 | $ 2 |
Prepayments And Other [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 19 | 25 |
Derivative asset as hedging instrument offset | (19) | (14) |
Derivative asset, net | 0 | 11 |
Prepayments And Other [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 9 | 18 |
Derivative asset as hedging instrument offset | (9) | (13) |
Derivative asset, net | 0 | 5 |
Prepayments And Other [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 13 | |
Derivative asset as hedging instrument offset | 0 | |
Derivative asset, net | 13 | |
Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Utility and Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 22 | 22 |
Derivative asset as hedging instrument offset | (1) | (1) |
Derivative asset, net | 21 | 21 |
Other Deferred Debits And Other Assets [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 19 | 6 |
Derivative asset as hedging instrument offset | (14) | (6) |
Derivative asset, net | 5 | 0 |
Other Deferred Debits And Other Assets [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, fair value | 5 | |
Derivative asset as hedging instrument offset | (5) | |
Derivative asset, net | 0 | |
Other Non-Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 17 | 16 |
Derivative liability as hedging instrument offset | (14) | (7) |
Derivative liability, net | 3 | 9 |
Derivative Liability, Fair Value, Gross Liability | 17 | 16 |
Other Non-Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 4 | |
Derivative liability as hedging instrument offset | (4) | |
Derivative liability, net | 0 | |
Derivative Liability, Fair Value, Gross Liability | 4 | |
Other Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated as Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 86 | 11 |
Derivative liability as hedging instrument offset | (20) | (10) |
Derivative liability, net | 66 | 1 |
Derivative Liability, Fair Value, Gross Liability | 86 | 11 |
Other Current Liabilities [Member] | Electricity Futures Forwards Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 9 | 18 |
Derivative liability as hedging instrument offset | (8) | (17) |
Derivative liability, net | 1 | 1 |
Derivative Liability, Fair Value, Gross Liability | 9 | 18 |
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative Liability, Fair Value, Gross Liability | 6 | |
Derivative liability as hedging instrument offset | 0 | |
Derivative liability, net | 6 | |
Derivative Liability, Fair Value, Gross Liability | 6 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 10.9 | |
Entergy Louisiana [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 10.2 | 8.5 |
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 5 | |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 2.3 | |
Entergy Mississippi [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 2.1 | 3.2 |
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 1.2 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 0.2 | |
Entergy New Orleans [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 2.2 | 1.1 |
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | ||
Liabilities: | ||
Derivative liability, net | 0.2 | |
Entergy Texas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | 3.4 | 3.1 |
Entergy Arkansas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | ||
Assets: | ||
Derivative asset, net | $ 3 | $ 5.4 |
Risk Management and Fair Val123
Risk Management and Fair Values (Derivative Instruments Designated as Cash Flow Hedges On Consolidated Statements Of Income) (Details) - Competitive Businesses Operating Revenues [Member] - Electricity Futures Forwards Swaps And Options [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI (effective portion) | $ 44 | $ 135 | $ 254 |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $ 109 | $ 293 | $ (244) |
Risk Management and Fair Val124
Risk Management and Fair Values (Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI | $ 0 | $ 0 | $ 0 |
Amount of gain (loss) recorded in income | (31) | 11 | (41) |
Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | 139 | 125 | 166 |
Competitive Businesses Operating Revenues [Member] | Electricity Futures Forwards Swaps And Options [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 12 |
Amount of gain (loss) recorded in income | 0 | (11) | (19) |
Entergy Louisiana [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | (25.4) | 8.4 | (33.2) |
Entergy Louisiana [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 45.8 | 69.7 | 55.4 |
Entergy Mississippi [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | (5.2) | 3.1 | (6.1) |
Entergy Mississippi [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 18.9 | 16.6 | 16.5 |
Entergy New Orleans [Member] | Fuel, Fuel Related Expenses And Gas Purchased For Resale [Member] | Natural Gas Swaps [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | (0.3) | (0.4) | (1.4) |
Entergy New Orleans [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 9.1 | 4.1 | 8.5 |
Entergy Arkansas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | 41.7 | 23.2 | 68.7 |
Entergy Texas [Member] | Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Effect of Derivative instruments not designated as hedging instruments on the consolidated statements of income | |||
Amount of gain (loss) recorded in income | $ 22.3 | $ 10.2 | $ 16.8 |
Risk Management and Fair Val125
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Assets at fair value on a recurring basis | |||
Temporary cash investments | $ 725 | $ 1,058 | |
Available-for-sale Securities | 7,212 | 5,724 | |
Total | 8,414 | 7,311 | |
Liabilities at fair value on a recurring basis | |||
Total | 76 | ||
Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 6 | ||
Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 70 | 11 | |
Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 526 | 480 | |
Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2,550 | 2,213 | |
Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 5 | 16 | |
Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 45 | 46 | |
Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 406 | 433 | |
Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 21 | 21 | |
Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 4,136 | 3,031 | |
Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 13 | ||
Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 725 | 1,058 | |
Total | 2,827 | 3,015 | |
Liabilities at fair value on a recurring basis | |||
Total | 6 | ||
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 6 | ||
Fair Value Inputs Level 1 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 526 | 480 | |
Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 1,125 | 985 | |
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 45 | 46 | |
Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 406 | 433 | |
Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 13 | ||
Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 1,425 | 1,228 | |
Liabilities at fair value on a recurring basis | |||
Total | 0 | ||
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Fair Value Inputs Level 2 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 1,425 | 1,228 | |
Fair Value Inputs Level 2 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 26 | 37 | |
Liabilities at fair value on a recurring basis | |||
Total | 70 | ||
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Fair Value Inputs Level 3 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 70 | 11 | |
Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 5 | 16 | |
Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 21 | 21 | |
Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Mississippi [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 4.5 | 76.8 | |
Total | 38.6 | 114.1 | |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 1.2 | ||
Entergy Mississippi [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 32 | 31.8 | |
Entergy Mississippi [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.1 | 3.2 | |
Entergy Mississippi [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.3 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 4.5 | 76.8 | |
Total | 36.5 | 110.9 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 1.2 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 32 | 31.8 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.3 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 2.1 | 3.2 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.1 | 3.2 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Louisiana [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 30.1 | 163.9 | |
Available-for-sale Securities | 1,312.1 | 1,140.7 | |
Total | 1,643.9 | 1,632.5 | |
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 5 | ||
Entergy Louisiana [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 15.2 | 13.9 |
Entergy Louisiana [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 493.8 | 424.8 |
Entergy Louisiana [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2 | 2.8 | |
Entergy Louisiana [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 289.5 | 305.7 | |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 10.2 | 8.5 | |
Entergy Louisiana [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 803.1 | 702 |
Entergy Louisiana [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 10.9 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 30.1 | 163.9 | |
Total | 480.1 | 629.5 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 5 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 15.2 | 13.9 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 143.3 | 132.3 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2 | 2.8 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 289.5 | 305.7 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 10.9 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 350.5 | 292.5 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 350.5 | 292.5 |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 10.2 | 8.5 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 10.2 | 8.5 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Texas [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 115.5 | 5 | |
Total | 156.6 | 45.6 | |
Entergy Texas [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 37.7 | 37.5 | |
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3.4 | 3.1 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 115.5 | 5 | |
Total | 153.2 | 42.5 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 37.7 | 37.5 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 0 | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 3.4 | 3.1 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Texas [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3.4 | 3.1 | |
Entergy New Orleans [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 32.7 | 103 | |
Total | 118.3 | 194.6 | |
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy New Orleans [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 1.5 | 1.7 | |
Entergy New Orleans [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 81.9 | 88.6 | |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.2 | 1.1 | |
Entergy New Orleans [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0.2 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 32.7 | 103 | |
Total | 116.1 | 193.5 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 1.5 | 1.7 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 81.9 | 88.6 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0.2 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 2 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 2.2 | 1.1 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Derivative liability, net | 0 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.2 | 1.1 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 3 [Member] | Gas Hedge Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | ||
Entergy Arkansas [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 944.9 | 834.7 | |
Total | 954 | 851.3 | |
Entergy Arkansas [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 11.7 | 3.6 |
Entergy Arkansas [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 348.2 | 309.3 |
Entergy Arkansas [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3.7 | 4.1 | |
Entergy Arkansas [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.4 | 7.1 | |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3 | 5.4 | |
Entergy Arkansas [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 585 | 521.8 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Total | 133.6 | 127.3 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 11.7 | 3.6 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 115.8 | 112.5 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3.7 | 4.1 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 2.4 | 7.1 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Total | 232.4 | 196.8 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 232.4 | 196.8 |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Total | 3 | 5.4 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Escrow Accounts [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | 3 | 5.4 | |
System Energy [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 287.1 | 245.1 | |
Available-for-sale Securities | 905.7 | 780.5 | |
Total | 1,192.8 | 1,025.6 | |
System Energy [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 3.1 | 0.3 |
System Energy [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 330.5 | 306.6 |
System Energy [Member] | Common trust funds valued using Net Asset Value [Domain] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [2] | 572.1 | 473.6 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 287.1 | 245.1 | |
Total | 477.4 | 493.7 | |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 3.1 | 0.3 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 187.2 | 248.3 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 143.3 | 58.3 | |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
System Energy [Member] | Fair Value Inputs Level 2 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 143.3 | 58.3 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Total | 0 | 0 | |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | 0 | 0 |
System Energy [Member] | Fair Value Inputs Level 3 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Available-for-sale Securities | [1] | $ 0 | $ 0 |
[1] | (a)The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements for additional information on the investment portfolios. | ||
[2] | (b)Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Risk Management and Fair Val126
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Included in earnings | $ 0.9 | $ 0 | $ 3 |
Fixed Transmission Rights (FTRs) [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 21 | 23 | 47 |
Total gains (losses) for the period (a) | 1 | 0 | (1) |
Included in other comprehensive income | 0 | 0 | 0 |
Issuances of financial transmission rights | 62 | 55 | 80 |
Gains (losses) included as a regulatory liability/asset | 76 | 68 | 63 |
Purchases | 0 | 0 | 0 |
Settlements | (139) | (125) | (166) |
Balance as of End of Period | 21 | 21 | 23 |
Electricity Futures Forwards Swaps And Options [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 5 | 189 | 215 |
Total gains (losses) for the period (a) | (3) | (10) | (20) |
Included in other comprehensive income | 44 | 135 | 254 |
Issuances of financial transmission rights | 0 | 0 | 0 |
Gains (losses) included as a regulatory liability/asset | 0 | 0 | 0 |
Purchases | 0 | 0 | 15 |
Settlements | (111) | (309) | (275) |
Balance as of End of Period | (65) | 5 | 189 |
Entergy Arkansas [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 5.4 | 7.9 | |
Issuances of financial transmission rights | 8.9 | 18.8 | |
Gains (losses) included as a regulatory liability/asset | 30.4 | 1.9 | |
Settlements | (41.7) | (23.2) | |
Balance as of End of Period | 3 | 5.4 | 7.9 |
Entergy Louisiana [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 8.5 | 8.5 | |
Issuances of financial transmission rights | 31 | 18.1 | |
Gains (losses) included as a regulatory liability/asset | 16.5 | 51.6 | |
Settlements | (45.8) | (69.7) | |
Balance as of End of Period | 10.2 | 8.5 | 8.5 |
Entergy Mississippi [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 3.2 | 2.4 | |
Issuances of financial transmission rights | 9.6 | 5.9 | |
Gains (losses) included as a regulatory liability/asset | 8.2 | 11.5 | |
Settlements | (18.9) | (16.6) | |
Balance as of End of Period | 2.1 | 3.2 | 2.4 |
Entergy New Orleans [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 1.1 | 1.5 | |
Issuances of financial transmission rights | 5 | 2.8 | |
Gains (losses) included as a regulatory liability/asset | 5.2 | 0.9 | |
Settlements | (9.1) | (4.1) | |
Balance as of End of Period | 2.2 | 1.1 | 1.5 |
Entergy Texas [Member] | |||
Reconciliation of changes in the net assets (liabilities) for the fair value of derivatives classified as Level 3 in the fair value hierarchy [Roll Forward] | |||
Balance as of Beginning of Period | 3.1 | 2.2 | |
Issuances of financial transmission rights | 7.1 | 9.3 | |
Gains (losses) included as a regulatory liability/asset | 15.5 | 1.8 | |
Settlements | (22.3) | (10.2) | |
Balance as of End of Period | $ 3.4 | $ 3.1 | $ 2.2 |
Risk Management and Fair Val127
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Minimum [Member] | |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.00% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 6 |
Maximum [Member] | |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.75% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 7 |
Electricity Futures Forwards Swaps And Options [Member] | |
Fair Value of Electricity Swaps - Net Liability Position | $ (65) |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017USD ($)counterparty | Dec. 31, 2016USD ($)counterparty | Dec. 31, 2015USD ($) | Mar. 31, 2017USD ($) | Jan. 31, 2017USD ($) | |
Decommissioning Fund Investments | $ 7,211,993 | $ 5,723,897 | |||
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 8 | 3 | |||
Decommissioning Trust Funds [Abstract] | |||||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | $ 479,000 | $ 399,000 | |||
Amortized cost of debt securities | $ 2,539,000 | 2,212,000 | |||
Average coupon rate of debt securities | 3.24% | ||||
Proceeds from the dispositions of debt securities | $ 3,163,000 | 2,409,000 | $ 2,492,000 | ||
Gains from dispositions of debt securities, gross | 149,000 | 32,000 | 72,000 | ||
Losses from dispositions of debt securities, gross | $ 13,000 | 13,000 | 13,000 | ||
Average Duration of Debt Securities in Years | 6 years 3 months 31 days | ||||
Average Maturity of Debt Securities, Years | 9 years 11 months 26 days | ||||
Hedge Contracts In Liability Position | $ 65,000 | 8,000 | |||
Entergy Arkansas [Member] | |||||
Decommissioning Fund Investments | 944,890 | 834,735 | |||
Decommissioning Trust Funds [Abstract] | |||||
Amortized cost of debt securities | $ 349,100 | 310,100 | |||
Average coupon rate of debt securities | 2.64% | ||||
Proceeds from the dispositions of debt securities | $ 339,400 | 197,400 | 213,000 | ||
Gains from dispositions of debt securities, gross | 17,700 | 1,800 | 5,900 | ||
Losses from dispositions of debt securities, gross | $ 600 | 800 | 300 | ||
Average Duration of Debt Securities in Years | 5 years 6 months 40 days | ||||
Average Maturity of Debt Securities, Years | 7 years | ||||
Entergy Louisiana [Member] | |||||
Decommissioning Fund Investments | $ 1,312,073 | 1,140,707 | |||
Percentage Interest in River Bend | 30.00% | ||||
Decommissioning Trust Funds [Abstract] | |||||
Amortized cost of debt securities | $ 490,000 | 421,900 | |||
Average coupon rate of debt securities | 3.88% | ||||
Proceeds from the dispositions of debt securities | $ 231,300 | 219,200 | 123,500 | ||
Gains from dispositions of debt securities, gross | 12,000 | 3,900 | 1,900 | ||
Losses from dispositions of debt securities, gross | $ 400 | 400 | 300 | ||
Average Duration of Debt Securities in Years | 6 years 2 months 3 days | ||||
Average Maturity of Debt Securities, Years | 11 years 12 months 22 days | ||||
System Energy [Member] | |||||
Decommissioning Fund Investments | $ 905,686 | 780,496 | |||
Decommissioning Trust Funds [Abstract] | |||||
Amortized cost of debt securities | $ 327,500 | 309,100 | |||
Average coupon rate of debt securities | 2.67% | ||||
Proceeds from the dispositions of debt securities | $ 565,400 | 499,300 | 390,400 | ||
Gains from dispositions of debt securities, gross | 1,400 | 3,500 | 3,300 | ||
Losses from dispositions of debt securities, gross | $ 3,300 | 1,700 | $ 500 | ||
Average Duration of Debt Securities in Years | 6 years 5 months 23 days | ||||
Average Maturity of Debt Securities, Years | 9 years 2 months 20 days | ||||
Indian Point 3 [Member] | |||||
Decommissioning Fund Investments | $ 798,000 | 719,000 | $ 726,000 | ||
FitzPatrick [Member] | |||||
Decommissioning Fund Investments | 785,000 | $ 805,000 | $ 793,000 | ||
Indian Point 1 [Member] | |||||
Decommissioning Fund Investments | 491,000 | 443,000 | |||
Indian Point 2 [Member] | |||||
Decommissioning Fund Investments | 621,000 | 564,000 | |||
Palisades [Member] | |||||
Decommissioning Fund Investments | 458,000 | 412,000 | |||
Pilgrim [Member] | |||||
Decommissioning Fund Investments | 1,068,000 | 960,000 | |||
Vermont Yankee [Member] | |||||
Decommissioning Fund Investments | $ 613,000 | $ 584,000 |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | $ 7,212 | $ 5,724 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2,175 | 1,707 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 17 | 28 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 4,662 | 3,511 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2,131 | 1,673 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 1 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 2,550 | 2,213 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 44 | 34 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 27 |
Entergy Louisiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 1,312.1 | 1,140.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 472.1 | 354.6 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3.6 | 5 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 818.3 | 715.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 461.2 | 346.6 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 493.8 | 424.8 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 10.9 | 8 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3.6 | 5 |
Entergy Arkansas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 944.9 | 834.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 357 | 284.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 4.2 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 596.7 | 525.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 354.9 | 281.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 348.2 | 309.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2.1 | 3.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 4.2 |
System Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 905.7 | 780.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 312.8 | 223.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.2 | 4.6 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 575.2 | 473.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 308.6 | 221.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.1 |
System Energy [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 330.5 | 306.6 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 4.2 | 2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 1.2 | $ 4.5 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 17 | $ 28 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 8 | 23 |
More than 12 months Fair Value | 0 | 1 |
Total Fair Value | 8 | 24 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 1 |
Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 1 |
Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 1,099 | 1,169 |
More than 12 months Fair Value | 265 | 20 |
Total Fair Value | 1,364 | 1,189 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 16 | 27 |
Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 7 | 26 |
Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 9 | 1 |
Entergy Arkansas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 4.2 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 0 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Arkansas [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Arkansas [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 168 | 146.7 |
More than 12 months Fair Value | 41.4 | 0 |
Total Fair Value | 209.4 | 146.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 4.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.2 | 4.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.8 | 0 |
Entergy Louisiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3.6 | 5 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 0 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Louisiana [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Louisiana [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 135.3 | 198.8 |
More than 12 months Fair Value | 84.4 | 4.8 |
Total Fair Value | 219.7 | 203.6 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3.6 | 5 |
Entergy Louisiana [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.1 | 4.8 |
Entergy Louisiana [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 2.5 | 0.2 |
System Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.2 | 4.6 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0 | 0 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.1 |
System Energy [Member] | Equity Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
System Energy [Member] | Equity Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.1 |
System Energy [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 196.9 | 220.9 |
More than 12 months Fair Value | 10.4 | 0.8 |
Total Fair Value | 207.3 | 221.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1.2 | 4.5 |
System Energy [Member] | Debt Securities [Member] | Less than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 4.4 |
System Energy [Member] | Debt Securities [Member] | More than 12 Months [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0.2 | $ 0.1 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Fair value of debt securities by contractual maturities | ||
less than 1 year | $ 74 | $ 125 |
1 year - 5 years | 902 | 763 |
5 years - 10 years | 812 | 719 |
10 years - 15 years | 147 | 109 |
15 years - 20 years | 100 | 73 |
20 years | 515 | 424 |
Total | 2,550 | 2,213 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 13 | 16.7 |
1 year - 5 years | 123.4 | 106.2 |
5 years - 10 years | 180.6 | 161.2 |
10 years - 15 years | 4.8 | 7.7 |
15 years - 20 years | 3.4 | 1 |
20 years | 23 | 16.5 |
Total | 348.2 | 309.3 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 23.2 | 31.4 |
1 year - 5 years | 122.8 | 99.1 |
5 years - 10 years | 109.3 | 122.8 |
10 years - 15 years | 52.7 | 41.4 |
15 years - 20 years | 50.7 | 30.9 |
20 years | 135.1 | 99.2 |
Total | 493.8 | 424.8 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
less than 1 year | 4.1 | 6.6 |
1 year - 5 years | 173 | 188.2 |
5 years - 10 years | 78.5 | 78.5 |
10 years - 15 years | 1 | 1.3 |
15 years - 20 years | 6.9 | 7.8 |
20 years | 67 | 24.2 |
Total | $ 330.5 | $ 306.6 |
Variable Interest Entities (Det
Variable Interest Entities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entergy Louisiana [Member] | ||||
Variable Interest Entities (Textual) [Abstract] | ||||
Payments on lease, including interest | $ 9.2 | $ 28.8 | ||
System Energy [Member] | ||||
Variable Interest Entities (Textual) [Abstract] | ||||
Payments on lease, including interest | $ 17.2 | $ 17.2 | $ 52.3 |
Transactions With Affiliates (D
Transactions With Affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entergy Arkansas [Member] | |||
Intercompany revenues | $ 127.8 | $ 49.4 | $ 127.9 |
Intercompany operating expenses | 510.2 | 467.4 | 508.5 |
Entergy Louisiana [Member] | |||
Intercompany revenues | 282.4 | 376.6 | 420.2 |
Intercompany operating expenses | 619.5 | 670.8 | 929.4 |
Intercompany interest and investment income | 128 | 127.7 | 133.6 |
Entergy Mississippi [Member] | |||
Intercompany revenues | 1.7 | 2.9 | 86 |
Intercompany operating expenses | 310.5 | 256.5 | 331.8 |
Intercompany interest and investment income | 0 | 0.1 | 0 |
Entergy New Orleans [Member] | |||
Intercompany revenues | 0 | 30.3 | 66.1 |
Intercompany operating expenses | 286.1 | 276.7 | 278.4 |
Intercompany interest and investment income | 0.2 | 0 | 0 |
Entergy Texas [Member] | |||
Intercompany revenues | 57.9 | 180.2 | 259.1 |
Intercompany operating expenses | 234.6 | 343.7 | 413.7 |
System Energy [Member] | |||
Intercompany revenues | 633.5 | 548.3 | 632.4 |
Intercompany operating expenses | 197 | 146 | 155.1 |
Intercompany interest and investment income | $ 0.9 | $ 0.1 | $ 0 |
Transactions With Affiliates Tr
Transactions With Affiliates Transactions with Affiliates (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
EWO Marketing, LLC [Member] | RS Cogen [Member] | |||
Related Party Transaction [Line Items] | |||
Capacity Charge and Gas Transportation Expense | $ 24.6 | $ 24.7 | $ 24.5 |
Quarterly Financial Data (Detai
Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Operating revenues | $ 2,623,845 | $ 3,243,628 | $ 2,618,550 | $ 2,588,458 | $ 2,648,528 | $ 3,124,703 | $ 2,462,562 | $ 2,609,852 | $ 11,074,481 | $ 10,845,645 | $ 11,513,251 | |||
Operating income (loss) | 211,901 | 729,469 | 143,509 | 174,803 | (2,599,001) | 772,060 | 442,258 | 498,218 | 1,259,682 | (886,465) | (299,165) | |||
Consolidated net income (loss) | (475,710) | 401,644 | 413,368 | 86,051 | (1,765,539) | 393,204 | 572,590 | 235,242 | 425,353 | [1] | (564,503) | [1] | (156,734) | [1] |
Net income (loss) attributable to Entergy Corporation | $ (479,113) | $ 398,198 | $ 409,922 | $ 82,605 | $ (1,769,068) | $ 388,170 | $ 567,314 | $ 229,966 | $ 411,612 | $ (583,618) | $ (176,562) | |||
Basic earnings per share (in usd per share) | $ (2.67) | $ 2.22 | $ 2.28 | $ 0.46 | $ (9.89) | $ 2.17 | $ 3.17 | $ 1.29 | $ 2.29 | $ (3.26) | $ (0.99) | |||
Diluted earnings per share (in usd per share) | $ (2.66) | $ 2.21 | $ 2.27 | $ 0.46 | $ (9.86) | $ 2.16 | $ 3.16 | $ 1.28 | $ 2.28 | $ (3.26) | $ (0.99) | |||
Entergy Arkansas [Member] | ||||||||||||||
Operating revenues | $ 495,680 | $ 673,226 | $ 496,662 | $ 474,351 | $ 462,384 | $ 654,599 | $ 504,252 | $ 465,373 | ||||||
Operating income (loss) | 14,507 | 169,755 | 68,994 | 39,847 | 29,843 | 188,660 | 73,447 | 54,378 | $ 293,103 | $ 346,328 | $ 179,406 | |||
Consolidated net income (loss) | (5,648) | 92,638 | 38,550 | 14,304 | 3,879 | 110,148 | 33,891 | 19,294 | 139,844 | 167,212 | 74,272 | |||
Net income (loss) attributable to Entergy Corporation | (6,005) | 92,281 | 38,193 | 13,947 | 3,521 | 108,672 | 32,173 | 17,576 | 138,416 | 161,942 | 67,399 | |||
Entergy Louisiana [Member] | ||||||||||||||
Operating revenues | 1,045,839 | 1,290,494 | 1,083,434 | 880,783 | 973,417 | 1,249,452 | 999,034 | 955,145 | 4,300,550 | 4,177,048 | 4,417,146 | |||
Operating income (loss) | 210,325 | 290,089 | 193,779 | 152,648 | 111,066 | 312,951 | 193,752 | 181,618 | 846,841 | 799,387 | 718,332 | |||
Consolidated net income (loss) | (88,794) | 186,284 | 124,479 | 94,378 | 67,610 | 189,506 | 253,325 | 111,606 | 316,347 | 622,047 | 446,639 | |||
Net income (loss) attributable to Entergy Corporation | 316,347 | 622,047 | 440,902 | |||||||||||
Entergy Mississippi [Member] | ||||||||||||||
Operating revenues | 299,377 | 349,197 | 291,212 | 258,443 | 273,726 | 309,739 | 248,138 | 263,046 | ||||||
Operating income (loss) | 42,169 | 84,035 | 55,262 | 39,608 | 32,464 | 88,312 | 61,890 | 41,573 | 221,074 | 224,239 | 211,906 | |||
Consolidated net income (loss) | 18,026 | 46,545 | 28,303 | 17,158 | 13,260 | 46,612 | 32,194 | 17,118 | 110,032 | 109,184 | 92,708 | |||
Net income (loss) attributable to Entergy Corporation | 17,788 | 46,307 | 28,064 | 16,920 | 12,938 | 45,905 | 31,487 | 16,411 | 109,079 | 106,741 | 89,880 | |||
Entergy New Orleans [Member] | ||||||||||||||
Operating revenues | 171,842 | 199,017 | 176,222 | 168,989 | 149,867 | 201,336 | 164,920 | 149,340 | 716,070 | 665,463 | 671,446 | |||
Operating income (loss) | 12,333 | 33,415 | 27,606 | 21,762 | 8,807 | 42,279 | 26,913 | 21,880 | 95,116 | 99,879 | 84,970 | |||
Consolidated net income (loss) | 164 | 18,529 | 14,882 | 10,978 | 2,138 | 23,701 | 11,843 | 11,167 | 44,553 | 48,849 | 44,925 | |||
Net income (loss) attributable to Entergy Corporation | 46 | 18,288 | 14,641 | 10,737 | 1,896 | 23,460 | 11,602 | 10,926 | 43,712 | 47,884 | 43,960 | |||
Entergy Texas [Member] | ||||||||||||||
Operating revenues | 369,569 | 432,909 | 378,488 | 363,927 | 382,308 | 442,085 | 412,922 | 378,304 | ||||||
Operating income (loss) | 33,800 | 78,950 | 47,787 | 38,842 | 38,338 | 107,964 | 58,039 | 41,269 | 199,379 | 245,610 | 183,645 | |||
Consolidated net income (loss) | 4,630 | 39,588 | 21,101 | 10,854 | 12,785 | 56,133 | 24,058 | 14,562 | 76,173 | 107,538 | 69,625 | |||
System Energy [Member] | ||||||||||||||
Operating revenues | 157,609 | 156,106 | 164,956 | 154,787 | 145,236 | 114,039 | 151,323 | 137,693 | ||||||
Operating income (loss) | 41,073 | 37,459 | 40,717 | 41,544 | 44,781 | 43,886 | 45,020 | 47,466 | 160,793 | 181,153 | 185,628 | |||
Consolidated net income (loss) | $ 18,316 | $ 20,583 | $ 19,350 | $ 20,347 | $ 23,326 | $ 22,370 | $ 25,090 | $ 25,958 | $ 78,596 | $ 96,744 | $ 111,318 | |||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries include $13.7 million for 2017, $19.1 million for 2016, and $14.9 million for 2015 of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented as equity. |
Quarterly Financial Data (Narra
Quarterly Financial Data (Narrative) (Details) $ in Thousands | Jan. 01, 2018 | Dec. 31, 2015MW | Dec. 31, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jun. 30, 2016USD ($) |
Restructuring Cost and Reserve [Line Items] | |||||||
Asset Write-Offs, Impairments, And Related Charges | $ 357,251 | $ 2,835,637 | $ 2,104,906 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||||
Net of tax reduction regulatory liabilities | $ 34,000 | ||||||
Increase (Decrease) in Regulatory Liabilities | 2,915,795 | 158,031 | 61,241 | ||||
Gain on sale of asset | 16,270 | 0 | 154,037 | ||||
Reduction of Income Tax Expense, Net of Unrecognized Tax Benefits, Resulting From Tax Election | 373,000 | 238,000 | |||||
Tax benefit related to treatment of Vidalia purchased power agreement | 75,000 | ||||||
Tax benefit related to treatment of proceeds received for financing of Hurricanes Gustav and Ike pursuant to Louisiana Act 55 | 54,000 | ||||||
Expense reduction due to effects of recording final court decision in several DOE spent nuclear fuel lawsuits | 100,000 | ||||||
Expense reduction due to effects of recording final court decision in several DOE spent nuclear fuel lawsuits, net of tax | 64,000 | ||||||
Subsequent Event [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||
Entergy Louisiana [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | 605,453 | 62,351 | 96,234 | ||||
Regulatory Liabilities | 32,400 | 53,900 | $ 16,100 | ||||
Write-Off of Waterford 3 Replacement Steam Generator | $ 45,000 | ||||||
Entergy Arkansas [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | 1,043,507 | 62,994 | (11,123) | ||||
Entergy Mississippi [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | 405,395 | (2,986) | 9,172 | ||||
Entergy New Orleans [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Increase (Decrease) in Regulatory Liabilities | 110,147 | (3,997) | $ (7,359) | ||||
Entergy Wholesale Commodities [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Asset Write-Offs, Impairments, And Related Charges | 538,000 | 2,836,000 | |||||
Impairment of Long-Lived Assets Held-For-Use, Net of Tax | 350,000 | $ 1,829,000 | |||||
Reduction to income resulting from re-measurement of deferred tax asset/liability | 397,000 | ||||||
Utility [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Reduction to income resulting from re-measurement of deferred tax asset/liability | 181,000 | ||||||
Parent & Other [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Increase in income resulting from re-measurement of deferred tax asset/liability | $ 52,000 | ||||||
Rhode Island State Energy Center [Member] | Entergy Wholesale Commodities [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Capacity Of Power Plant Unit | MW | 583 |
Schedule II - Valuation And 137
Schedule II - Valuation And Qualifying Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | $ 11,924 | $ 39,895 | $ 35,663 | |
Additions Charged to Income or Regulatory Assets | 4,211 | 7,505 | 6,926 | |
Other Changes Deductions from Provisions | [1] | (2,548) | (35,476) | (2,694) |
Balance at End of Period | 13,587 | 11,924 | 39,895 | |
Entergy Arkansas [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 1,211 | 34,226 | 32,247 | |
Additions Charged to Income or Regulatory Assets | 503 | 902 | 2,759 | |
Other Changes Deductions from Provisions | [1] | (651) | (33,917) | (780) |
Balance at End of Period | 1,063 | 1,211 | 34,226 | |
Entergy Louisiana [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 6,277 | 4,209 | 1,609 | |
Additions Charged to Income or Regulatory Assets | 3,108 | 2,942 | 3,464 | |
Other Changes Deductions from Provisions | [1] | (955) | (874) | (864) |
Balance at End of Period | 8,430 | 6,277 | 4,209 | |
Entergy Mississippi [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 549 | 718 | 873 | |
Additions Charged to Income or Regulatory Assets | 255 | 259 | 247 | |
Other Changes Deductions from Provisions | [1] | (230) | (428) | (402) |
Balance at End of Period | 574 | 549 | 718 | |
Entergy New Orleans [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 3,059 | 268 | 262 | |
Additions Charged to Income or Regulatory Assets | 152 | 2,872 | 217 | |
Other Changes Deductions from Provisions | [1] | (154) | (81) | (211) |
Balance at End of Period | 3,057 | 3,059 | 268 | |
Entergy Texas [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at Beginning of Period | 828 | 474 | 672 | |
Additions Charged to Income or Regulatory Assets | 192 | 531 | 239 | |
Other Changes Deductions from Provisions | [1] | (557) | (177) | (437) |
Balance at End of Period | $ 463 | $ 828 | $ 474 | |
[1] | (1) Deductions represent write-offs of accounts receivable balances and are reduced by recoveries of amounts previously written off. |