Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Entity Registrant Name | ENTERGY CORP /DE/ | |
Entity Central Index Key | 65,984 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
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 Common Stock, Shares Outstanding | 179,127,892 | |
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, INC. | |
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 | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |||
OPERATING REVENUES | ||||||
Electric | $ 2,624,562 | $ 2,825,143 | $ 6,760,054 | $ 7,289,280 | ||
Natural gas | 24,796 | 24,517 | 95,530 | 111,805 | ||
Competitive businesses | 475,345 | 521,746 | 1,341,534 | 1,603,643 | ||
TOTAL | 3,124,703 | 3,371,406 | 8,197,118 | 9,004,728 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 460,990 | 739,449 | 1,347,422 | 1,919,605 | ||
Purchased power | 375,107 | 449,784 | 880,102 | 1,114,736 | ||
Nuclear refueling outage expenses | 56,675 | 68,577 | 154,951 | 200,575 | ||
Other operation and maintenance | 833,176 | 852,385 | 2,324,350 | 2,450,368 | ||
Asset Write-Offs, Impairments, And Related Charges | 18,841 | 1,642,204 | 33,170 | 1,642,204 | ||
Decommissioning | 85,266 | 68,888 | 230,519 | 207,617 | ||
Taxes other than income taxes | 149,076 | 158,134 | 448,103 | 472,035 | ||
Depreciation and amortization | 340,399 | 334,841 | 1,010,339 | 1,007,181 | ||
Other regulatory charges (credits) - net | 33,113 | 22,160 | 55,626 | 35,271 | ||
TOTAL | 2,352,643 | 4,336,422 | 6,484,582 | 9,049,592 | ||
OPERATING INCOME (LOSS) | 772,060 | (965,016) | 1,712,536 | (44,864) | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 15,451 | 14,129 | 48,242 | 37,841 | ||
Investment Income, Net | 37,534 | 39,054 | 116,662 | 146,893 | ||
Miscellaneous - net | (6,740) | (10,005) | (25,702) | (34,769) | ||
TOTAL | 46,245 | 43,178 | 139,202 | 149,965 | ||
INTEREST EXPENSE | ||||||
Interest expense | 174,902 | 171,349 | 526,344 | 503,546 | ||
Allowance for borrowed funds used during construction | (7,707) | (7,289) | (24,520) | (19,450) | ||
TOTAL | 167,195 | 164,060 | 501,824 | 484,096 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 651,110 | (1,085,898) | 1,349,914 | (378,995) | ||
Income taxes | 257,906 | (367,665) | 148,879 | (117,412) | ||
CONSOLIDATED NET INCOME (LOSS) | 393,204 | (718,233) | 1,201,035 | [1] | (261,583) | [1] |
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 5,034 | 4,794 | 15,586 | 14,552 | ||
EARNINGS APPLICABLE TO COMMON STOCK | $ 388,170 | $ (723,027) | $ 1,185,449 | $ (276,135) | ||
Earnings (loss) per average common share: | ||||||
Basic (in dollars per share) | $ 2.17 | $ (4.04) | $ 6.63 | $ (1.54) | ||
Diluted (in dollars per share) | 2.16 | (4.04) | 6.60 | (1.54) | ||
Dividends declared per common share (in dollars per share) | $ 0.85 | $ 0.83 | $ 2.55 | $ 2.49 | ||
Basic average number of common shares outstanding (in shares) | 179,023,351 | 179,151,832 | 178,804,148 | 179,442,172 | ||
Diluted average number of common shares outstanding (in shares) | 179,990,888 | 179,151,832 | 179,490,060 | 179,442,172 | ||
Entergy Arkansas [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | $ 654,599 | $ 714,353 | $ 1,624,224 | $ 1,777,415 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 105,147 | 176,164 | 274,106 | 426,351 | ||
Purchased power | 52,023 | 105,321 | 163,541 | 285,806 | ||
Nuclear refueling outage expenses | 14,554 | 13,603 | 44,604 | 39,109 | ||
Other operation and maintenance | 187,294 | 214,536 | 514,109 | 544,446 | ||
Decommissioning | 13,504 | 12,713 | 39,908 | 37,508 | ||
Taxes other than income taxes | 24,931 | 28,905 | 70,978 | 77,589 | ||
Depreciation and amortization | 67,309 | 61,527 | 197,597 | 183,169 | ||
Other regulatory charges (credits) - net | 1,177 | (7,652) | 2,896 | (17,604) | ||
TOTAL | 465,939 | 605,117 | 1,307,739 | 1,576,374 | ||
OPERATING INCOME (LOSS) | 188,660 | 109,236 | 316,485 | 201,041 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 3,734 | 3,950 | 12,661 | 9,856 | ||
Investment Income, Net | 5,410 | 4,541 | 14,774 | 18,354 | ||
Miscellaneous - net | 812 | (1,036) | (983) | (1,724) | ||
TOTAL | 9,956 | 7,455 | 26,452 | 26,486 | ||
INTEREST EXPENSE | ||||||
Interest expense | 28,152 | 26,360 | 88,726 | 79,264 | ||
Allowance for borrowed funds used during construction | (2,000) | (2,246) | (6,851) | (5,321) | ||
TOTAL | 26,152 | 24,114 | 81,875 | 73,943 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 172,464 | 92,577 | 261,062 | 153,584 | ||
Income taxes | 62,316 | 36,915 | 97,729 | 58,532 | ||
CONSOLIDATED NET INCOME (LOSS) | 110,148 | 55,662 | 163,333 | 95,052 | ||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 1,476 | 1,718 | 4,913 | 5,155 | ||
EARNINGS APPLICABLE TO COMMON STOCK | 108,672 | 53,944 | 158,420 | 89,897 | ||
Entergy Louisiana [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | 1,240,217 | 1,289,642 | 3,166,380 | 3,398,781 | ||
Natural gas | 9,235 | 8,840 | 37,251 | 43,491 | ||
TOTAL | 1,249,452 | 1,298,482 | 3,203,631 | 3,442,272 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 261,979 | 250,482 | 616,402 | 647,131 | ||
Purchased power | 261,212 | 341,198 | 677,309 | 901,957 | ||
Nuclear refueling outage expenses | 12,894 | 11,248 | 38,648 | 34,187 | ||
Other operation and maintenance | 229,717 | 231,333 | 668,738 | 700,411 | ||
Decommissioning | 11,812 | 10,936 | 34,978 | 32,365 | ||
Taxes other than income taxes | 38,129 | 44,143 | 124,857 | 128,204 | ||
Depreciation and amortization | 114,251 | 109,562 | 336,294 | 327,188 | ||
Other regulatory charges (credits) - net | 6,507 | 5,144 | 18,084 | (451) | ||
TOTAL | 936,501 | 1,004,046 | 2,515,310 | 2,770,992 | ||
OPERATING INCOME (LOSS) | 312,951 | 294,436 | 688,321 | 671,280 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 6,735 | 5,499 | 18,479 | 15,194 | ||
Investment Income, Net | 38,731 | 37,632 | 116,398 | 112,429 | ||
Miscellaneous - net | (4,429) | (2,976) | (10,044) | (7,764) | ||
TOTAL | 41,037 | 40,155 | 124,833 | 119,859 | ||
INTEREST EXPENSE | ||||||
Interest expense | 68,396 | 64,417 | 204,259 | 194,701 | ||
Allowance for borrowed funds used during construction | (3,455) | (3,034) | (9,735) | (8,527) | ||
TOTAL | 64,941 | 61,383 | 194,524 | 186,174 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 289,047 | 273,208 | 618,630 | 604,965 | ||
Income taxes | 99,541 | 86,068 | 64,193 | 182,735 | ||
CONSOLIDATED NET INCOME (LOSS) | 189,506 | 187,140 | 554,437 | 422,230 | ||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 0 | 1,850 | 0 | 5,737 | ||
EARNINGS APPLICABLE TO COMMON STOCK | 189,506 | 185,290 | 554,437 | 416,493 | ||
Entergy Mississippi [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | 309,739 | 410,743 | 820,923 | 1,116,533 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 3,444 | 89,512 | 64,790 | 244,331 | ||
Purchased power | 87,070 | 120,697 | 216,814 | 308,618 | ||
Other operation and maintenance | 67,155 | 60,504 | 178,809 | 190,690 | ||
Taxes other than income taxes | 24,837 | 24,082 | 68,821 | 72,219 | ||
Depreciation and amortization | 34,438 | 32,459 | 101,746 | 95,888 | ||
Other regulatory charges (credits) - net | 4,483 | 9,225 | (1,832) | 17,598 | ||
TOTAL | 221,427 | 336,479 | 629,148 | 929,344 | ||
OPERATING INCOME (LOSS) | 88,312 | 74,264 | 191,775 | 187,189 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 1,441 | 713 | 4,072 | 2,094 | ||
Investment Income, Net | 129 | 50 | 490 | 105 | ||
Miscellaneous - net | (849) | (743) | (2,604) | (2,675) | ||
TOTAL | 721 | 20 | 1,958 | (476) | ||
INTEREST EXPENSE | ||||||
Interest expense | 13,866 | 14,527 | 43,866 | 43,164 | ||
Allowance for borrowed funds used during construction | (741) | (376) | (2,099) | (1,117) | ||
TOTAL | 13,125 | 14,151 | 41,767 | 42,047 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 75,908 | 60,133 | 151,966 | 144,666 | ||
Income taxes | 29,296 | 23,557 | 56,042 | 56,876 | ||
CONSOLIDATED NET INCOME (LOSS) | 46,612 | 36,576 | 95,924 | 87,790 | ||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 707 | 707 | 2,121 | 2,121 | ||
EARNINGS APPLICABLE TO COMMON STOCK | 45,905 | 35,869 | 93,803 | 85,669 | ||
Entergy New Orleans [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | 185,775 | 194,056 | 457,317 | 458,796 | ||
Natural gas | 15,561 | 15,677 | 58,279 | 68,314 | ||
TOTAL | 201,336 | 209,733 | 515,596 | 527,110 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 19,231 | 44,085 | 42,706 | 81,807 | ||
Purchased power | 82,581 | 75,107 | 221,689 | 209,626 | ||
Other operation and maintenance | 27,251 | 29,792 | 78,752 | 89,872 | ||
Taxes other than income taxes | 13,409 | 13,134 | 35,846 | 36,302 | ||
Depreciation and amortization | 13,047 | 10,929 | 38,719 | 32,529 | ||
Other regulatory charges (credits) - net | 3,538 | 1,952 | 6,812 | 1,340 | ||
TOTAL | 159,057 | 174,999 | 424,524 | 451,476 | ||
OPERATING INCOME (LOSS) | 42,279 | 34,734 | 91,072 | 75,634 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 311 | 389 | 767 | 1,022 | ||
Investment Income, Net | 58 | 15 | 157 | 53 | ||
Miscellaneous - net | (92) | (81) | (144) | 532 | ||
TOTAL | 277 | 323 | 780 | 1,607 | ||
INTEREST EXPENSE | ||||||
Interest expense | 5,373 | 4,480 | 15,730 | 13,086 | ||
Allowance for borrowed funds used during construction | (116) | (177) | (291) | (471) | ||
TOTAL | 5,257 | 4,303 | 15,439 | 12,615 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 37,299 | 30,754 | 76,413 | 64,626 | ||
Income taxes | 13,598 | 11,591 | 29,701 | 23,275 | ||
CONSOLIDATED NET INCOME (LOSS) | 23,701 | 19,163 | 46,712 | 41,351 | ||
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders | 241 | 241 | 724 | 724 | ||
EARNINGS APPLICABLE TO COMMON STOCK | 23,460 | 18,922 | 45,988 | 40,627 | ||
Entergy Texas [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | 442,085 | 498,249 | 1,233,311 | 1,312,381 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | 21,919 | 72,850 | 185,801 | 197,017 | ||
Purchased power | 189,213 | 202,864 | 486,696 | 557,912 | ||
Other operation and maintenance | 50,536 | 65,253 | 157,706 | 187,840 | ||
Taxes other than income taxes | 17,486 | 18,644 | 54,081 | 54,555 | ||
Depreciation and amortization | 27,412 | 25,795 | 79,526 | 76,356 | ||
Other regulatory charges (credits) - net | 27,555 | 26,219 | 62,229 | 64,000 | ||
TOTAL | 334,121 | 411,625 | 1,026,039 | 1,137,680 | ||
OPERATING INCOME (LOSS) | 107,964 | 86,624 | 207,272 | 174,701 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 1,472 | 1,371 | 6,174 | 3,912 | ||
Investment Income, Net | 221 | (5) | 689 | (411) | ||
Miscellaneous - net | (256) | (133) | (726) | (247) | ||
TOTAL | 1,437 | 1,233 | 6,137 | 3,254 | ||
INTEREST EXPENSE | ||||||
Interest expense | 22,416 | 21,917 | 65,993 | 64,475 | ||
Allowance for borrowed funds used during construction | (954) | (886) | (4,008) | (2,542) | ||
TOTAL | 21,462 | 21,031 | 61,985 | 61,933 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 87,939 | 66,826 | 151,424 | 116,022 | ||
Income taxes | 31,806 | 23,512 | 56,671 | 41,227 | ||
CONSOLIDATED NET INCOME (LOSS) | 56,133 | 43,314 | 94,753 | 74,795 | ||
System Energy [Member] | ||||||
OPERATING REVENUES | ||||||
Electric | 114,039 | 155,899 | 403,056 | 475,039 | ||
Operation and Maintenance: | ||||||
Fuel, fuel-related expenses, and gas purchased for resale | (7,393) | 22,984 | 26,429 | 66,400 | ||
Nuclear refueling outage expenses | 4,958 | 5,244 | 14,448 | 16,346 | ||
Other operation and maintenance | 32,867 | 39,520 | 100,793 | 116,309 | ||
Decommissioning | 12,802 | 12,095 | 37,782 | 35,695 | ||
Taxes other than income taxes | 6,256 | 6,497 | 18,894 | 20,263 | ||
Depreciation and amortization | 30,811 | 35,091 | 100,902 | 109,398 | ||
Other regulatory charges (credits) - net | (10,148) | (12,667) | (32,564) | (29,761) | ||
TOTAL | 70,153 | 108,764 | 266,684 | 334,650 | ||
OPERATING INCOME (LOSS) | 43,886 | 47,135 | 136,372 | 140,389 | ||
OTHER INCOME | ||||||
Allowance for equity funds used during construction | 1,758 | 2,252 | 6,089 | 5,945 | ||
Investment Income, Net | 4,233 | 4,732 | 12,631 | 12,195 | ||
Miscellaneous - net | (109) | (129) | (365) | (567) | ||
TOTAL | 5,882 | 6,855 | 18,355 | 17,573 | ||
INTEREST EXPENSE | ||||||
Interest expense | 9,186 | 10,404 | 28,119 | 35,764 | ||
Allowance for borrowed funds used during construction | (440) | (595) | (1,536) | (1,571) | ||
TOTAL | 8,746 | 9,809 | 26,583 | 34,193 | ||
INCOME (LOSS) BEFORE INCOME TAXES | 41,022 | 44,181 | 128,144 | 123,769 | ||
Income taxes | 18,652 | 18,958 | 54,726 | 51,153 | ||
CONSOLIDATED NET INCOME (LOSS) | $ 22,370 | $ 25,223 | $ 73,418 | $ 72,616 | ||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | ||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | [1] | $ 1,201,035 | $ (261,583) |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 1,548,872 | 1,612,690 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 119,603 | (267,984) | |
Impairment of Long-Lived Assets Held-for-use | 33,170 | 1,642,204 | |
Changes in working capital: | |||
Receivables | (270,847) | (222,311) | |
Fuel inventory | 28,900 | (7,578) | |
Accounts payable | 99,933 | (90,309) | |
Taxes accrued | 29,429 | 108,229 | |
Interest accrued | (13,487) | (34,368) | |
Deferred fuel costs | (159,592) | 165,384 | |
Other working capital accounts | (78,553) | (133,142) | |
Changes in provisions for estimated losses | 2,760 | 55,177 | |
Changes in other regulatory assets | 164,716 | 155,244 | |
Changes in other regulatory liabilities | 110,999 | (95,327) | |
Changes in pensions and other postretirement liabilities | (305,200) | (307,638) | |
Other Noncash Income (Expense) | (259,343) | 30,957 | |
Net cash flow provided by operating activities | 2,252,395 | 2,349,645 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (2,003,427) | (1,701,758) | |
Allowance for equity funds used during construction | 48,807 | 39,428 | |
Payments to Acquire Property, Plant, and Equipment | (949,329) | 0 | |
Nuclear fuel purchases | (160,343) | (340,262) | |
Payments for Nuclear Fuel | (160,343) | (340,262) | |
NYPA value sharing payment | 0 | (70,790) | |
Payments to storm reserve escrow account | (1,203) | (68,956) | |
Decrease (increase) in other investments | 12,374 | (15,323) | |
Proceeds from nuclear decommissioning trust fund sales | 1,796,566 | 1,487,759 | |
Investment in nuclear decommissioning trust funds | (1,844,514) | (1,520,461) | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 122,488 | 0 | |
Proceeds from insurance | 0 | 12,745 | |
Changes in securitization account | (3,911) | (8,756) | |
Net cash flow used in investing activities | (2,982,492) | (2,186,374) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 5,508,461 | 2,205,884 | |
Common stock and treasury stock | 33,120 | 24,218 | |
Retirement of long-term debt | (4,229,599) | (2,295,118) | |
Payments for Repurchase of Common Stock | 0 | (99,807) | |
Payments for Repurchase of Preferred Stock and Preference Stock | (85,283) | (94,285) | |
Changes in credit borrowings and commercial paper - net | (60,985) | 183,627 | |
Dividends paid: | |||
Common stock | (455,993) | (447,268) | |
Preferred stock | (16,947) | (14,848) | |
Other | (6,204) | (7,102) | |
Net cash flow provided by (used in) financing activities | 686,570 | (544,699) | |
Net decrease in cash and cash equivalents | (43,527) | (381,428) | |
Cash and cash equivalents at beginning of period | 1,350,961 | 1,422,026 | |
Cash and cash equivalents at end of period | 1,307,434 | 1,040,598 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 584,362 | 523,489 | |
Income taxes | 79,988 | 95,779 | |
System Energy [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 73,418 | 72,616 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 176,571 | 203,761 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 73,829 | 181,430 | |
Changes in working capital: | |||
Receivables | 9,084 | 7,800 | |
Accounts payable | (2,217) | (3,480) | |
Taxes accrued | (30,063) | (159,911) | |
Interest accrued | 406 | (17,522) | |
Other working capital accounts | (22,051) | (2,710) | |
Changes in other regulatory assets | (12,392) | (4,145) | |
Changes in pensions and other postretirement liabilities | (15,789) | (17,759) | |
Other Noncash Income (Expense) | (16,037) | (20,239) | |
Net cash flow provided by operating activities | 234,759 | 239,841 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (71,471) | (48,756) | |
Allowance for equity funds used during construction | 6,089 | 5,945 | |
Change in money pool receivable - net | 8,415 | (1,003) | |
Nuclear fuel purchases | (137,248) | (51,645) | |
Payments for Nuclear Fuel | (137,248) | (51,645) | |
Proceeds from sale of nuclear fuel | 11,467 | 57,681 | |
Proceeds from nuclear decommissioning trust fund sales | 392,926 | 325,367 | |
Investment in nuclear decommissioning trust funds | (419,255) | (348,606) | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 15,806 | 0 | |
Net cash flow used in investing activities | (193,271) | (61,017) | |
Proceeds from the issuance of: | |||
Retirement of long-term debt | (22,002) | (111,310) | |
Changes in credit borrowings and commercial paper - net | 80,041 | (5,836) | |
Dividends paid: | |||
Common stock | (139,000) | (130,750) | |
Other | (26) | (28) | |
Net cash flow provided by (used in) financing activities | (80,987) | (247,924) | |
Net decrease in cash and cash equivalents | (39,499) | (69,100) | |
Cash and cash equivalents at beginning of period | 230,661 | 223,179 | |
Cash and cash equivalents at end of period | 191,162 | 154,079 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 27,087 | 47,664 | |
Income taxes | 3,402 | 25,304 | |
Entergy Arkansas [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 163,333 | 95,052 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 319,845 | 303,653 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 163,202 | 4,483 | |
Changes in working capital: | |||
Receivables | (116,584) | (74,495) | |
Fuel inventory | 28,968 | 140 | |
Accounts payable | 95,116 | 16,193 | |
Taxes accrued | (78,879) | 34,588 | |
Interest accrued | 5,909 | 4,196 | |
Deferred fuel costs | (50,687) | 106,499 | |
Other working capital accounts | 4,259 | (26,988) | |
Changes in provisions for estimated losses | 130 | 497 | |
Changes in other regulatory assets | (5,680) | 35,483 | |
Changes in pensions and other postretirement liabilities | (77,823) | (97,650) | |
Other Noncash Income (Expense) | 22,691 | 6,551 | |
Net cash flow provided by operating activities | 473,800 | 408,202 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (494,071) | (428,491) | |
Allowance for equity funds used during construction | 13,134 | 11,394 | |
Payments to Acquire Property, Plant, and Equipment | (237,324) | 0 | |
Change in money pool receivable - net | 0 | (217) | |
Nuclear fuel purchases | (80,716) | (119,285) | |
Payments for Nuclear Fuel | (80,716) | (119,285) | |
Proceeds from sale of nuclear fuel | 40,336 | 52,281 | |
Proceeds from nuclear decommissioning trust fund sales | 165,038 | 190,759 | |
Investment in nuclear decommissioning trust funds | (176,981) | (197,787) | |
Changes in securitization account | (3,524) | (4,431) | |
Other | (102) | 0 | |
Net cash flow used in investing activities | (774,210) | (495,777) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 777,671 | 0 | |
Proceeds from Contributions from Parent | 200,000 | 0 | |
Payments for Repurchase of Redeemable Preferred Stock | 85,283 | 0 | |
Retirement of long-term debt | (621,608) | (6,521) | |
Change in money pool payable - net | (3,669) | 0 | |
Changes in credit borrowings and commercial paper - net | 35,717 | (10,728) | |
Dividends paid: | |||
Preferred stock | (6,274) | (5,155) | |
Other | (1,868) | 10,834 | |
Net cash flow provided by (used in) financing activities | 294,686 | (11,570) | |
Net decrease in cash and cash equivalents | (5,724) | (99,145) | |
Cash and cash equivalents at beginning of period | 9,135 | 218,505 | |
Cash and cash equivalents at end of period | 3,411 | 119,360 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 78,500 | 70,902 | |
Income taxes | 7,242 | 17,592 | |
Entergy Louisiana [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 554,437 | 422,230 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 462,007 | 451,967 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 155,996 | 4,574 | |
Changes in working capital: | |||
Receivables | (159,517) | (137,129) | |
Fuel inventory | (1,578) | (650) | |
Accounts payable | (18,420) | 2,500 | |
Taxes accrued | (55,780) | 179,275 | |
Interest accrued | 7,531 | 2,227 | |
Deferred fuel costs | (6,091) | (21,311) | |
Other working capital accounts | (2,503) | (38,176) | |
Changes in provisions for estimated losses | 1,658 | (4,747) | |
Changes in other regulatory assets | 73,920 | 78,809 | |
Changes in pensions and other postretirement liabilities | (63,735) | (52,046) | |
Other Noncash Income (Expense) | (69,980) | (63,629) | |
Net cash flow provided by operating activities | 877,945 | 823,894 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (675,248) | (568,812) | |
Allowance for equity funds used during construction | 18,479 | 15,194 | |
Payments to Acquire Property, Plant, and Equipment | (474,670) | 0 | |
Change in money pool receivable - net | (3,274) | (2,919) | |
Nuclear fuel purchases | (49,219) | (216,721) | |
Payments for Nuclear Fuel | (49,219) | (216,721) | |
Proceeds from sale of nuclear fuel | 64,498 | 54,595 | |
Payments to storm reserve escrow account | 0 | (206) | |
Decrease (increase) in other investments | (823) | 0 | |
Proceeds from Sale of Productive Assets | 0 | 58,417 | |
Proceeds from nuclear decommissioning trust fund sales | 178,183 | 93,580 | |
Investment in nuclear decommissioning trust funds | (206,976) | (118,341) | |
Litigation proceeds for reimbursement of spent nuclear fuel storage costs | 17,274 | 0 | |
Changes in securitization account | (6,649) | (6,837) | |
Net cash flow used in investing activities | (1,138,425) | (692,050) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 1,389,315 | 0 | |
Payments for Repurchase of Redeemable Preferred Stock | 0 | 10,284 | |
Retirement of long-term debt | (831,632) | (28,819) | |
Payments for Repurchase of Preferred Stock and Related Expense | 0 | 100,002 | |
Changes in credit borrowings and commercial paper - net | (18,385) | 72,020 | |
Dividends paid: | |||
Common stock | (215,000) | (100,000) | |
Preferred stock | 0 | (6,082) | |
Other | (3,841) | (15,475) | |
Net cash flow provided by (used in) financing activities | 320,457 | (188,642) | |
Net decrease in cash and cash equivalents | 59,977 | (56,798) | |
Cash and cash equivalents at beginning of period | 35,102 | 320,516 | |
Cash and cash equivalents at end of period | 95,079 | 263,718 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 251,196 | 186,865 | |
Income taxes | 62,676 | 89,123 | |
Entergy Mississippi [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 95,924 | 87,790 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 101,746 | 95,888 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 43,201 | (9,178) | |
Changes in working capital: | |||
Receivables | (39,253) | 4,628 | |
Fuel inventory | 412 | (6,627) | |
Accounts payable | 25,200 | (14,918) | |
Taxes accrued | (765) | 52,202 | |
Interest accrued | (2,349) | (5,241) | |
Deferred fuel costs | (79,671) | 81,084 | |
Other working capital accounts | (1,910) | (6,528) | |
Changes in provisions for estimated losses | 5,221 | (1,670) | |
Changes in other regulatory assets | 18,851 | 46,016 | |
Changes in pensions and other postretirement liabilities | (18,871) | (22,345) | |
Other Noncash Income (Expense) | (5,776) | 5,154 | |
Net cash flow provided by operating activities | 141,960 | 306,255 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (223,643) | (146,410) | |
Allowance for equity funds used during construction | 4,072 | 2,094 | |
Change in money pool receivable - net | (24,986) | (3,616) | |
Proceeds from insurance | 0 | 12,932 | |
Other | (257) | 36 | |
Net cash flow used in investing activities | (244,814) | (134,964) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 624,034 | 0 | |
Retirement of long-term debt | (332,400) | 0 | |
Dividends paid: | |||
Common stock | (24,000) | (36,250) | |
Preferred stock | (2,121) | (2,121) | |
Other | 0 | (90) | |
Net cash flow provided by (used in) financing activities | 265,513 | (38,461) | |
Net decrease in cash and cash equivalents | 162,659 | 132,830 | |
Cash and cash equivalents at beginning of period | 145,605 | 61,633 | |
Cash and cash equivalents at end of period | 308,264 | 194,463 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 44,209 | 46,449 | |
Income taxes | 3,878 | 2,597 | |
Entergy New Orleans [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 46,712 | 41,351 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 38,719 | 32,529 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | 132,201 | 14,620 | |
Changes in working capital: | |||
Receivables | (17,409) | (10,830) | |
Fuel inventory | (215) | 1,295 | |
Accounts payable | 7,088 | 8,585 | |
Taxes accrued | (87,763) | 13,604 | |
Interest accrued | 1,172 | (287) | |
Deferred fuel costs | (16,671) | 4,829 | |
Other working capital accounts | 735 | (5,362) | |
Changes in provisions for estimated losses | 678 | 64,479 | |
Changes in other regulatory assets | 6,837 | (83,437) | |
Changes in pensions and other postretirement liabilities | (13,673) | (13,999) | |
Other Noncash Income (Expense) | (5,588) | 16,077 | |
Net cash flow provided by operating activities | 92,823 | 83,454 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (63,161) | (64,280) | |
Allowance for equity funds used during construction | 767 | 1,022 | |
Payments to Acquire Property, Plant, and Equipment | (237,335) | 0 | |
Payments to Acquire Businesses and Interest in Affiliates | (38) | 0 | |
Change in money pool receivable - net | 9,622 | (10) | |
Payments to storm reserve escrow account | (300) | (68,793) | |
Receipts from storm reserve escrow account | 3 | 6 | |
Changes in securitization account | (502) | (1,434) | |
Net cash flow used in investing activities | (290,944) | (133,489) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 190,697 | 95,436 | |
Proceeds from Contributions from Parent | 47,750 | 0 | |
Repayment of long-term payable due to Entergy Louisiana | 0 | (58,417) | |
Retirement of long-term debt | (77,094) | 0 | |
Dividends paid: | |||
Common stock | (14,000) | (7,250) | |
Preferred stock | (724) | (724) | |
Other | 505 | (126) | |
Net cash flow provided by (used in) financing activities | 147,134 | 28,919 | |
Net decrease in cash and cash equivalents | (50,987) | (21,116) | |
Cash and cash equivalents at beginning of period | 88,876 | 42,389 | |
Cash and cash equivalents at end of period | 37,889 | 21,273 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 13,613 | 9,710 | |
Income taxes | 8,500 | 40 | |
Entergy Texas [Member] | |||
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 94,753 | 74,795 | |
Adjustments to reconcile consolidated net income (loss) to net cash flow provided by operating activities: | |||
Depreciation, amortization, and decommissioning, including nuclear fuel amortization | 79,526 | 76,356 | |
Deferred income taxes, investment tax credits, and non-current taxes accrued | (7,605) | (50,401) | |
Changes in working capital: | |||
Receivables | (40,678) | (22,160) | |
Fuel inventory | 268 | (3,098) | |
Accounts payable | (74) | (7,401) | |
Taxes accrued | 55,121 | 86,361 | |
Interest accrued | (9,453) | (7,172) | |
Deferred fuel costs | (6,472) | (6,524) | |
Other working capital accounts | (9,786) | (4,656) | |
Changes in provisions for estimated losses | (3,318) | (3,878) | |
Changes in other regulatory assets | 69,324 | 87,314 | |
Changes in pensions and other postretirement liabilities | (21,092) | (22,396) | |
Other Noncash Income (Expense) | (3,816) | (11,415) | |
Net cash flow provided by operating activities | 196,698 | 185,725 | |
INVESTING ACTIVITIES | |||
Construction/capital expenditures | (264,394) | (210,595) | |
Allowance for equity funds used during construction | 6,266 | 3,961 | |
Change in money pool receivable - net | 0 | 224 | |
Changes in securitization account | 6,762 | 3,946 | |
Net cash flow used in investing activities | (251,366) | (202,464) | |
Proceeds from the issuance of: | |||
Proceeds from the issuance of long-term debt | 123,502 | 246,617 | |
Retirement of long-term debt | (55,764) | (253,645) | |
Change in money pool payable - net | (9,669) | 0 | |
Dividends paid: | |||
Other | (4,240) | (1,494) | |
Net cash flow provided by (used in) financing activities | 53,829 | (8,522) | |
Net decrease in cash and cash equivalents | (839) | (25,261) | |
Cash and cash equivalents at beginning of period | 2,182 | 30,441 | |
Cash and cash equivalents at end of period | 1,343 | 5,180 | |
Cash paid / (received) during the period for: | |||
Interest - net of amount capitalized | 73,570 | 69,005 | |
Income taxes | $ 3,443 | $ 3,162 | |
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Cash and cash equivalents: | ||
Cash | $ 101,905 | $ 63,497 |
Temporary cash investments | 1,205,529 | 1,287,464 |
Total cash and cash equivalents | 1,307,434 | 1,350,961 |
Accounts receivable: | ||
Customer | 724,970 | 608,491 |
Allowance for doubtful accounts | (11,387) | (39,895) |
Other | 227,278 | 178,364 |
Accrued unbilled revenues | 439,596 | 321,940 |
Total accounts receivable | 1,380,457 | 1,068,900 |
Deferred fuel costs | 41,686 | 0 |
Fuel inventory - at average cost | 188,910 | 217,810 |
Materials and supplies - at average cost | 918,269 | 873,357 |
Deferred nuclear refueling outage costs | 217,487 | 211,512 |
Prepayments and other | 285,792 | 344,872 |
TOTAL | 4,340,035 | 4,067,412 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 717 | 4,341 |
Decommissioning trust funds | 5,671,074 | 5,349,953 |
Non-utility property - at cost (less accumulated depreciation) | 223,008 | 219,999 |
Other | 473,964 | 468,704 |
TOTAL | 6,368,763 | 6,042,997 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 47,486,695 | 44,467,159 |
Property under capital lease | 609,852 | 952,465 |
Natural gas | 408,360 | 392,032 |
Construction work in progress | 1,451,492 | 1,456,735 |
Nuclear fuel | 1,170,956 | 1,345,422 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 51,127,355 | 48,613,813 |
Less - accumulated depreciation and amortization | 21,798,230 | 20,789,452 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 29,329,125 | 27,824,361 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 777,113 | 775,528 |
Other regulatory assets | 4,540,895 | 4,704,796 |
Deferred fuel costs | 239,050 | 238,902 |
Goodwill | 377,172 | 377,172 |
Accumulated deferred income taxes | 123,085 | 54,903 |
Other | 1,642,943 | 561,610 |
TOTAL | 7,700,258 | 6,712,911 |
TOTAL ASSETS | 47,738,181 | 44,647,681 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 750,200 | 214,374 |
Notes payable and commercial paper | 433,363 | 494,348 |
Accounts payable | 1,063,139 | 1,071,798 |
Customer deposits | 402,794 | 419,407 |
Taxes Payable, Current | 239,506 | 210,077 |
Interest accrued | 181,078 | 194,565 |
Deferred fuel costs | 118,228 | 235,986 |
Obligations under capital leases | 2,743 | 2,709 |
Pension and other postretirement liabilities | 59,767 | 62,513 |
Other | 200,929 | 184,181 |
TOTAL | 3,451,747 | 3,089,958 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 8,510,946 | 8,306,865 |
Accumulated deferred investment tax credits | 228,757 | 234,300 |
Obligations under capital leases | 24,957 | 27,001 |
Other regulatory liabilities | 1,525,897 | 1,414,898 |
Decommissioning and asset retirement cost liabilities | 6,101,283 | 4,790,187 |
Accumulated provisions | 463,466 | 460,727 |
Pension and other postretirement liabilities | 2,884,903 | 3,187,357 |
Long-term debt | 13,861,703 | 13,111,556 |
Other | 382,275 | 449,856 |
TOTAL | 33,984,187 | 31,982,747 |
Subsidiaries' preferred stock without sinking fund | 233,185 | 318,185 |
Common Shareholders' Equity: | ||
Common stock | 2,548 | 2,548 |
Paid-in capital | 5,403,987 | 5,403,758 |
Retained earnings | 10,123,086 | 9,393,913 |
Accumulated other comprehensive income | 38,136 | 8,951 |
Less - treasury stock, at cost | 5,498,695 | 5,552,379 |
TOTAL | 10,069,062 | 9,256,791 |
TOTAL | 10,069,062 | 9,256,791 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 47,738,181 | 44,647,681 |
Entergy Arkansas [Member] | ||
Cash and cash equivalents: | ||
Cash | 3,394 | 9,066 |
Temporary cash investments | 17 | 69 |
Total cash and cash equivalents | 3,411 | 9,135 |
Securitization recovery trust account | 7,728 | 4,204 |
Accounts receivable: | ||
Customer | 149,798 | 108,636 |
Allowance for doubtful accounts | (1,605) | (34,226) |
Associated companies | 30,465 | 32,987 |
Other | 81,260 | 84,216 |
Accrued unbilled revenues | 122,884 | 73,583 |
Total accounts receivable | 382,802 | 265,196 |
Deferred fuel costs | 41,686 | 0 |
Fuel inventory - at average cost | 33,721 | 62,689 |
Materials and supplies - at average cost | 179,018 | 169,919 |
Deferred nuclear refueling outage costs | 44,291 | 67,834 |
Prepaid Taxes | 109,170 | 30,291 |
Prepayments and other | 18,899 | 15,145 |
TOTAL | 820,726 | 624,413 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 823,816 | 771,313 |
Other | 7,914 | 12,895 |
TOTAL | 831,730 | 784,208 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 10,314,236 | 9,536,802 |
Property under capital lease | 751 | 844 |
Construction work in progress | 324,877 | 388,075 |
Nuclear fuel | 245,251 | 286,341 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 10,885,115 | 10,212,062 |
Less - accumulated depreciation and amortization | 4,578,460 | 4,349,809 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 6,306,655 | 5,862,253 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 71,853 | 61,438 |
Other regulatory assets | 1,329,038 | 1,333,773 |
Deferred fuel costs | 66,848 | 66,700 |
Other | 16,692 | 14,989 |
TOTAL | 1,484,431 | 1,476,900 |
TOTAL ASSETS | 9,443,542 | 8,747,774 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 0 | 55,000 |
Short-term borrowings | 47,408 | 11,690 |
Associated companies accounts payable | 186,791 | 110,464 |
Other | 161,929 | 177,758 |
Customer deposits | 97,046 | 118,340 |
Interest accrued | 25,792 | 19,883 |
Deferred fuel costs | 0 | 8,853 |
Other | 53,654 | 45,219 |
TOTAL | 572,620 | 547,207 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 2,153,146 | 1,982,812 |
Accumulated deferred investment tax credits | 35,605 | 36,506 |
Other regulatory liabilities | 292,545 | 242,913 |
Decommissioning and asset retirement cost liabilities | 912,254 | 872,346 |
Accumulated provisions | 5,682 | 5,552 |
Pension and other postretirement liabilities | 381,333 | 459,153 |
Long-term debt | 2,796,059 | 2,574,839 |
Other | 13,154 | 18,438 |
TOTAL | 6,589,778 | 6,192,559 |
Subsidiaries' preferred stock without sinking fund | 31,350 | 116,350 |
Common Shareholders' Equity: | ||
Common stock | 470 | 470 |
Paid-in capital | 790,243 | 588,493 |
Retained earnings | 1,459,081 | 1,302,695 |
TOTAL | 2,249,794 | 1,891,658 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 9,443,542 | 8,747,774 |
Entergy Louisiana [Member] | ||
Cash and cash equivalents: | ||
Cash | 37,460 | 348 |
Temporary cash investments | 57,619 | 34,754 |
Total cash and cash equivalents | 95,079 | 35,102 |
Accounts receivable: | ||
Customer | 253,637 | 179,051 |
Allowance for doubtful accounts | (6,656) | (4,209) |
Associated companies | 127,871 | 94,418 |
Other | 108,213 | 56,793 |
Accrued unbilled revenues | 188,797 | 143,079 |
Total accounts receivable | 671,862 | 469,132 |
Fuel inventory - at average cost | 49,623 | 48,045 |
Materials and supplies - at average cost | 313,764 | 282,688 |
Deferred nuclear refueling outage costs | 29,566 | 66,984 |
Prepayments and other | 42,887 | 28,294 |
TOTAL | 1,202,781 | 930,245 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 1,390,587 | 1,390,587 |
Decommissioning trust funds | 1,124,821 | 1,042,293 |
Non-utility property - at cost (less accumulated depreciation) | 209,969 | 206,293 |
Storm Reserve Escrow Account | 291,245 | 290,422 |
Other | 28,882 | 14,776 |
TOTAL | 3,045,504 | 2,944,371 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 19,038,635 | 17,629,077 |
Property under capital lease | 0 | 341,514 |
Natural gas | 169,241 | 159,252 |
Construction work in progress | 547,968 | 420,874 |
Nuclear fuel | 266,085 | 386,524 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 20,021,929 | 18,937,241 |
Less - accumulated depreciation and amortization | 8,764,536 | 8,302,774 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 11,257,393 | 10,634,467 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 474,622 | 478,243 |
Other regulatory assets | 1,147,575 | 1,217,874 |
Deferred fuel costs | 168,122 | 168,122 |
Other | 16,846 | 14,125 |
TOTAL | 1,807,165 | 1,878,364 |
TOTAL ASSETS | 17,312,843 | 16,387,447 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 200,198 | 29,372 |
Short-term borrowings | 41,971 | 60,356 |
Associated companies accounts payable | 91,071 | 165,419 |
Other | 317,672 | 276,280 |
Customer deposits | 149,293 | 146,555 |
Taxes Payable, Current | 69,362 | 125,142 |
Interest accrued | 81,911 | 74,380 |
Deferred fuel costs | 59,143 | 65,234 |
Other | 90,792 | 79,982 |
TOTAL | 1,101,413 | 1,022,720 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 2,657,512 | 2,506,956 |
Accumulated deferred investment tax credits | 127,996 | 131,760 |
Regulatory liability for income taxes - net | 0 | 2,473 |
Other regulatory liabilities | 849,470 | 818,623 |
Decommissioning and asset retirement cost liabilities | 1,068,709 | 1,027,862 |
Accumulated provisions | 311,940 | 310,282 |
Pension and other postretirement liabilities | 769,240 | 833,185 |
Long-term debt | 5,207,699 | 4,806,790 |
Long-term payables of associated companies | 134 | 1,073 |
Other | 142,728 | 188,411 |
TOTAL | 11,135,428 | 10,627,415 |
Common Shareholders' Equity: | ||
Accumulated other comprehensive income | (57,137) | (56,412) |
Members' Equity | 5,133,139 | 4,793,724 |
TOTAL | 5,076,002 | 4,737,312 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 17,312,843 | 16,387,447 |
Entergy Mississippi [Member] | ||
Cash and cash equivalents: | ||
Cash | 961 | 1,426 |
Temporary cash investments | 307,303 | 144,179 |
Total cash and cash equivalents | 308,264 | 145,605 |
Accounts receivable: | ||
Customer | 56,699 | 56,685 |
Allowance for doubtful accounts | (687) | (718) |
Associated companies | 85,361 | 34,964 |
Other | 8,328 | 8,276 |
Accrued unbilled revenues | 61,029 | 47,284 |
Total accounts receivable | 210,730 | 146,491 |
Fuel inventory - at average cost | 50,861 | 51,273 |
Materials and supplies - at average cost | 40,396 | 39,491 |
Prepayments and other | 8,380 | 5,184 |
TOTAL | 618,631 | 388,044 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 4,612 | 4,625 |
Escrow accounts | 31,816 | 41,726 |
TOTAL | 36,428 | 46,351 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,223,311 | 4,083,933 |
Property under capital lease | 1,936 | 2,942 |
Construction work in progress | 137,717 | 114,067 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 4,362,964 | 4,200,942 |
Less - accumulated depreciation and amortization | 1,582,162 | 1,534,522 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,780,802 | 2,666,420 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 39,243 | 45,790 |
Other regulatory assets | 318,777 | 328,681 |
Other | 2,920 | 2,121 |
TOTAL | 360,940 | 376,592 |
TOTAL ASSETS | 3,796,801 | 3,477,407 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 0 | 125,000 |
Associated companies accounts payable | 37,869 | 38,496 |
Other | 70,443 | 51,502 |
Customer deposits | 83,479 | 81,583 |
Taxes Payable, Current | 42,696 | 43,461 |
Interest accrued | 18,482 | 20,831 |
Deferred fuel costs | 28,083 | 107,754 |
Other | 12,906 | 22,754 |
TOTAL | 293,958 | 491,381 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 840,514 | 810,635 |
Accumulated deferred investment tax credits | 7,441 | 4,645 |
Decommissioning and asset retirement cost liabilities | 8,602 | 8,252 |
Accumulated provisions | 53,283 | 48,062 |
Pension and other postretirement liabilities | 101,338 | 120,217 |
Long-term debt | 1,344,305 | 920,085 |
Other | 15,126 | 11,699 |
TOTAL | 2,370,609 | 1,923,595 |
Subsidiaries' preferred stock without sinking fund | 50,381 | 50,381 |
Common Shareholders' Equity: | ||
Common stock | 199,326 | 199,326 |
Paid-in capital | (690) | (690) |
Retained earnings | 883,217 | 813,414 |
TOTAL | 1,081,853 | 1,012,050 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 3,796,801 | 3,477,407 |
Entergy New Orleans [Member] | ||
Cash and cash equivalents: | ||
Cash | 644 | 1,068 |
Temporary cash investments | 37,245 | 87,808 |
Total cash and cash equivalents | 37,889 | 88,876 |
Securitization recovery trust account | 5,122 | 4,620 |
Accounts receivable: | ||
Customer | 51,467 | 34,627 |
Allowance for doubtful accounts | (1,499) | (268) |
Associated companies | 10,043 | 23,248 |
Other | 4,180 | 3,753 |
Accrued unbilled revenues | 22,755 | 17,799 |
Total accounts receivable | 86,946 | 79,159 |
Fuel inventory - at average cost | 2,127 | 1,912 |
Materials and supplies - at average cost | 8,993 | 13,244 |
Prepaid Taxes | 90,457 | 2,694 |
Prepayments and other | 10,877 | 7,569 |
TOTAL | 242,411 | 198,074 |
OTHER PROPERTY AND INVESTMENTS | ||
Non-utility property - at cost (less accumulated depreciation) | 1,016 | 1,016 |
Storm Reserve Escrow Account | 81,299 | 81,002 |
Other | 7,160 | 3 |
TOTAL | 89,475 | 82,021 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 1,251,039 | 1,051,239 |
Natural gas | 239,118 | 232,780 |
Construction work in progress | 24,863 | 29,027 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 1,515,020 | 1,313,046 |
Less - accumulated depreciation and amortization | 606,343 | 648,081 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 908,677 | 664,965 |
Regulatory assets: | ||
Other regulatory assets | 258,485 | 265,322 |
Deferred fuel costs | 4,080 | 4,080 |
Other | 931 | 682 |
TOTAL | 263,496 | 270,084 |
TOTAL ASSETS | 1,504,059 | 1,215,144 |
CURRENT LIABILITIES | ||
Current payable due Entergy Louisiana | 4,973 | 4,973 |
Associated companies accounts payable | 39,066 | 37,467 |
Other | 26,419 | 21,471 |
Customer deposits | 28,507 | 28,392 |
Interest accrued | 6,081 | 4,909 |
Deferred fuel costs | 12,350 | 29,021 |
Other | 13,012 | 6,216 |
TOTAL | 130,408 | 132,449 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 327,389 | 214,061 |
Accumulated deferred investment tax credits | 655 | 753 |
Regulatory liability for income taxes - net | 9,231 | 13,199 |
Decommissioning and asset retirement cost liabilities | 2,827 | 2,687 |
Accumulated provisions | 84,865 | 84,187 |
Pension and other postretirement liabilities | 29,936 | 43,609 |
Long-term debt | 433,795 | 317,380 |
Gas system rebuild insurance proceeds | 3,904 | 12,788 |
Long-term payable due to Entergy Louisiana | 20,527 | 20,527 |
Other | 10,972 | 3,692 |
TOTAL | 924,101 | 712,883 |
Subsidiaries' preferred stock without sinking fund | 19,780 | 19,780 |
Common Shareholders' Equity: | ||
Common stock | 33,744 | 33,744 |
Paid-in capital | 171,544 | 123,794 |
Retained earnings | 224,482 | 192,494 |
TOTAL | 429,770 | 350,032 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,504,059 | 1,215,144 |
Entergy Texas [Member] | ||
Cash and cash equivalents: | ||
Cash | 1,314 | 2,153 |
Temporary cash investments | 29 | 29 |
Total cash and cash equivalents | 1,343 | 2,182 |
Securitization recovery trust account | 31,399 | 38,161 |
Accounts receivable: | ||
Customer | 86,623 | 61,870 |
Allowance for doubtful accounts | (939) | (474) |
Associated companies | 51,390 | 42,279 |
Other | 14,397 | 11,054 |
Accrued unbilled revenues | 44,131 | 40,195 |
Total accounts receivable | 195,602 | 154,924 |
Fuel inventory - at average cost | 46,674 | 46,942 |
Materials and supplies - at average cost | 37,725 | 34,994 |
Prepayments and other | 25,342 | 17,975 |
TOTAL | 338,085 | 295,178 |
OTHER PROPERTY AND INVESTMENTS | ||
Investment in affiliates - at equity | 599 | 620 |
Non-utility property - at cost (less accumulated depreciation) | 376 | 376 |
Other | 20,907 | 20,186 |
TOTAL | 21,882 | 21,182 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,218,696 | 3,923,100 |
Construction work in progress | 139,189 | 210,964 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 4,357,885 | 4,134,064 |
Less - accumulated depreciation and amortization | 1,544,349 | 1,477,529 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,813,536 | 2,656,535 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 107,349 | 107,499 |
Other regulatory assets | 743,688 | 812,862 |
Other | 4,608 | 5,326 |
TOTAL | 855,645 | 925,687 |
TOTAL ASSETS | 4,029,148 | 3,898,582 |
CURRENT LIABILITIES | ||
Associated companies accounts payable | 65,675 | 106,065 |
Other | 93,026 | 87,421 |
Customer deposits | 44,469 | 44,537 |
Taxes Payable, Current | 60,454 | 5,333 |
Interest accrued | 19,753 | 29,206 |
Deferred fuel costs | 18,652 | 25,124 |
Other | 10,712 | 10,363 |
TOTAL | 312,741 | 308,049 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 998,037 | 1,006,834 |
Accumulated deferred investment tax credits | 13,159 | 13,835 |
Other regulatory liabilities | 7,106 | 6,396 |
Decommissioning and asset retirement cost liabilities | 6,381 | 6,124 |
Accumulated provisions | 6,001 | 9,319 |
Pension and other postretirement liabilities | 56,456 | 77,517 |
Long-term debt | 1,521,270 | 1,451,967 |
Other | 51,788 | 57,085 |
TOTAL | 2,660,198 | 2,629,077 |
Common Shareholders' Equity: | ||
Common stock | 49,452 | 49,452 |
Paid-in capital | 481,994 | 481,994 |
Retained earnings | 524,763 | 430,010 |
TOTAL | 1,056,209 | 961,456 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,029,148 | 3,898,582 |
System Energy [Member] | ||
Cash and cash equivalents: | ||
Cash | 988 | 8,681 |
Temporary cash investments | 190,174 | 221,980 |
Total cash and cash equivalents | 191,162 | 230,661 |
Accounts receivable: | ||
Associated companies | 79,582 | 93,724 |
Other | 1,217 | 4,574 |
Total accounts receivable | 80,799 | 98,298 |
Materials and supplies - at average cost | 82,334 | 87,366 |
Deferred nuclear refueling outage costs | 29,840 | 5,605 |
Prepaid Taxes | 39,390 | 9,327 |
Prepayments and other | 4,801 | 1,955 |
TOTAL | 428,326 | 433,212 |
OTHER PROPERTY AND INVESTMENTS | ||
Decommissioning trust funds | 764,903 | 701,460 |
TOTAL | 764,903 | 701,460 |
PROPERTY, PLANT, AND EQUIPMENT | ||
Electric | 4,315,805 | 4,253,949 |
Property under capital lease | 575,027 | 575,027 |
Construction work in progress | 63,010 | 92,546 |
Nuclear fuel | 258,363 | 183,706 |
TOTAL PROPERTY, PLANT, AND EQUIPMENT | 5,212,205 | 5,105,228 |
Less - accumulated depreciation and amortization | 3,039,533 | 2,961,842 |
PROPERTY, PLANT, AND EQUIPMENT - NET | 2,172,672 | 2,143,386 |
Regulatory assets: | ||
Regulatory asset for income taxes - net | 93,277 | 98,230 |
Other regulatory assets | 365,175 | 347,830 |
Other | 4,921 | 4,757 |
TOTAL | 463,373 | 450,817 |
TOTAL ASSETS | 3,829,274 | 3,728,875 |
CURRENT LIABILITIES | ||
Currently maturing long-term debt | 50,003 | 2 |
Short-term borrowings | 80,041 | 0 |
Associated companies accounts payable | 7,328 | 7,391 |
Other | 24,736 | 34,010 |
Interest accrued | 14,589 | 14,183 |
Other | 1,928 | 1,926 |
TOTAL | 178,625 | 57,512 |
NON-CURRENT LIABILITIES | ||
Accumulated deferred income taxes and taxes accrued | 1,088,503 | 1,019,075 |
Accumulated deferred investment tax credits | 42,652 | 45,451 |
Other regulatory liabilities | 365,302 | 337,424 |
Decommissioning and asset retirement cost liabilities | 841,187 | 803,405 |
Pension and other postretirement liabilities | 96,475 | 112,264 |
Long-term debt | 501,020 | 572,665 |
Other | 13 | 0 |
TOTAL | 2,935,152 | 2,890,284 |
Common Shareholders' Equity: | ||
Common stock | 679,350 | 719,350 |
Retained earnings | 36,147 | 61,729 |
TOTAL | 715,497 | 781,079 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 3,829,274 | $ 3,728,875 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Securitization property | $ 627,347 | $ 714,044 |
Securitization bonds | $ 697,535 | $ 774,696 |
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 | 75,625,184 | 76,363,763 |
Entergy Arkansas [Member] | ||
Securitization property | $ 44,320 | $ 54,450 |
Securitization bonds | $ 54,884 | $ 61,249 |
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 | $ 97,805 | $ 114,701 |
Securitization bonds | $ 110,783 | $ 120,549 |
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 | $ 84,345 | $ 91,599 |
Securitization bonds | $ 90,147 | $ 95,867 |
Common stock, par value | $ 4 | $ 4 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 8,435,900 | 8,435,900 |
Common stock, shares outstanding | 8,435,900 | 8,435,900 |
Entergy Texas [Member] | ||
Securitization property | $ 400,875 | $ 453,317 |
Securitization bonds | $ 441,721 | $ 497,030 |
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] | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Common Stock [Member] | Treasury Stock [Member] | Entergy Arkansas [Member] | Entergy Arkansas [Member]Paid In Capital [Member] | Entergy Arkansas [Member]Retained Earnings [Member] | Entergy Arkansas [Member]Common Stock [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]Capital Stock Expense and Other [Member] | Entergy Mississippi [Member]Retained Earnings [Member] | Entergy Mississippi [Member]Common Stock [Member] | Entergy New Orleans [Member] | Entergy New Orleans [Member]Paid In Capital [Member] | Entergy New Orleans [Member]Retained Earnings [Member] | Entergy New Orleans [Member]Common Stock [Member] | Entergy Texas [Member] | Entergy Texas [Member]Paid In Capital [Member] | Entergy Texas [Member]Retained Earnings [Member] | Entergy Texas [Member]Common Stock [Member] | System Energy [Member] | System Energy [Member]Retained Earnings [Member] | System Energy [Member]Common Stock [Member] | |||
Beginning Balance at Dec. 31, 2014 | $ 10,101,725 | $ 94,000 | $ 5,375,353 | $ 10,169,657 | $ (42,307) | $ 2,548 | $ (5,497,526) | $ 1,824,237 | $ 588,471 | $ 1,235,296 | $ 470 | $ 4,346,987 | $ 110,000 | $ 4,316,210 | $ (79,223) | $ 962,170 | $ (690) | $ 763,534 | $ 199,326 | $ 228,025 | $ 36,294 | $ 157,987 | $ 33,744 | $ 891,831 | $ 481,994 | $ 360,385 | $ 49,452 | $ 870,511 | $ 81,161 | $ 789,350 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||
Consolidated net income (loss) | (261,583) | [1] | 14,552 | [1] | 0 | (276,135) | [1] | 0 | 0 | 0 | 95,052 | 0 | 95,052 | 0 | 422,230 | 0 | 422,230 | 0 | 87,790 | 0 | 87,790 | 0 | 41,351 | 0 | 41,351 | 0 | 74,795 | 0 | 74,795 | 0 | 72,616 | 72,616 | 0 |
Net income attributable to Entergy Louisiana | (2,203) | 0 | (2,203) | 0 | |||||||||||||||||||||||||||||
Other comprehensive income (loss) | (75,491) | 0 | 0 | 0 | (75,491) | 0 | 0 | 1,204 | 0 | 0 | 1,204 | ||||||||||||||||||||||
Preferred Stock Redemptions | 94,285 | 94,000 | 0 | 285 | 0 | 0 | 0 | 110,000 | 110,000 | 0 | 0 | ||||||||||||||||||||||
Payments for Repurchase of Common Stock | (99,807) | 0 | 0 | 0 | 0 | 0 | (99,807) | ||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (94,285) | ||||||||||||||||||||||||||||||||
Common stock issuances related to stock plans | 48,386 | 0 | 3,594 | 0 | 0 | 0 | 44,792 | ||||||||||||||||||||||||||
Common stock dividends declared | (447,268) | 0 | 0 | (447,268) | 0 | 0 | 0 | (100,000) | 0 | (100,000) | 0 | (36,250) | 0 | (36,250) | 0 | (7,250) | 0 | (7,250) | 0 | (130,750) | (130,750) | 0 | |||||||||||
Proceeds from Contributions from Parent | 0 | 0 | |||||||||||||||||||||||||||||||
Preferred dividend requirements of subsidiaries | (14,552) | [1] | (14,552) | [1] | 0 | 0 | 0 | 0 | 0 | (5,155) | 0 | (5,155) | 0 | (5,737) | 0 | (5,737) | 0 | (2,121) | 0 | (2,121) | 0 | (724) | 0 | (724) | 0 | ||||||||
Other | (313) | 0 | (313) | 0 | |||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2015 | 9,157,125 | 0 | 5,378,947 | 9,445,969 | (117,798) | 2,548 | (5,552,541) | 1,914,134 | 588,471 | 1,325,193 | 470 | 4,554,371 | 0 | 4,632,390 | (78,019) | 1,011,589 | (690) | 812,953 | 199,326 | 259,199 | 36,294 | 189,161 | 33,744 | 966,626 | 481,994 | 435,180 | 49,452 | 812,377 | 23,027 | 789,350 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Related Expense | 100,002 | ||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2015 | 9,256,791 | 0 | 5,403,758 | 9,393,913 | 8,951 | 2,548 | (5,552,379) | 1,891,658 | 588,493 | 1,302,695 | 470 | 4,737,312 | 0 | 4,793,724 | (56,412) | 1,012,050 | (690) | 813,414 | 199,326 | 350,032 | 123,794 | 192,494 | 33,744 | 961,456 | 481,994 | 430,010 | 49,452 | 781,079 | 61,729 | 719,350 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||
Consolidated net income (loss) | 1,201,035 | [1] | 15,586 | [1] | 0 | 1,185,449 | [1] | 0 | 0 | 0 | 163,333 | 0 | 163,333 | 0 | 554,437 | 0 | 554,437 | 0 | 95,924 | 0 | 95,924 | 0 | 46,712 | 0 | 46,712 | 0 | 94,753 | 0 | 94,753 | 0 | 73,418 | 73,418 | 0 |
Other comprehensive income (loss) | 29,185 | 0 | 0 | 0 | 29,185 | 0 | 0 | (725) | 0 | 0 | (725) | ||||||||||||||||||||||
Preferred Stock Redemptions | 283 | 0 | 0 | 283 | 0 | 0 | 0 | 284 | 1,750 | 2,034 | 0 | ||||||||||||||||||||||
Payments for Repurchase of Common Stock | 0 | ||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Preference Stock | (85,283) | ||||||||||||||||||||||||||||||||
Common stock issuances related to stock plans | 53,913 | 0 | 229 | 0 | 0 | 0 | 53,684 | ||||||||||||||||||||||||||
Common stock dividends declared | (455,993) | 0 | 0 | (455,993) | 0 | 0 | 0 | (215,000) | 0 | (215,000) | 0 | (24,000) | 0 | (24,000) | 0 | (14,000) | 0 | (14,000) | 0 | (139,000) | (99,000) | (40,000) | |||||||||||
Proceeds from Contributions from Parent | 200,000 | 200,000 | 0 | 0 | 47,750 | 47,750 | 0 | 0 | |||||||||||||||||||||||||
Preferred dividend requirements of subsidiaries | (15,586) | [1] | (15,586) | [1] | 0 | 0 | 0 | 0 | 0 | (4,913) | 0 | (4,913) | 0 | (2,121) | 0 | (2,121) | 0 | (724) | 0 | (724) | 0 | ||||||||||||
Other | (22) | 0 | (22) | 0 | |||||||||||||||||||||||||||||
Ending Balance at Sep. 30, 2016 | $ 10,069,062 | $ 0 | $ 5,403,987 | $ 10,123,086 | $ 38,136 | $ 2,548 | $ (5,498,695) | $ 2,249,794 | $ 790,243 | $ 1,459,081 | $ 470 | 5,076,002 | $ 0 | $ 5,133,139 | $ (57,137) | $ 1,081,853 | $ (690) | $ 883,217 | $ 199,326 | $ 429,770 | $ 171,544 | $ 224,482 | $ 33,744 | $ 1,056,209 | $ 481,994 | $ 524,763 | $ 49,452 | $ 715,497 | $ 36,147 | $ 679,350 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||||||||
Payments for Repurchase of Preferred Stock and Related Expense | $ 0 | ||||||||||||||||||||||||||||||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Equity (Parenthetical) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Preferred dividends on subsidiaries' preferred stock | $ 15.6 | $ 9.6 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |||
Net income | $ 393,204 | $ (718,233) | $ 1,201,035 | [1] | $ (261,583) | [1] |
Other comprehensive income (loss) | ||||||
Cash flow hedges net unrealized gain (loss) | 20,972 | (23,984) | (52,575) | (14,618) | ||
Pension and other postretirement liabilities | 5,044 | 7,437 | 17,649 | 23,323 | ||
Net unrealized investment gains | 21,367 | (53,966) | 65,391 | (83,843) | ||
Foreign currency translation | (92) | (469) | (1,280) | (353) | ||
Other comprehensive income (loss) | 47,291 | (70,982) | 29,185 | (75,491) | ||
Total comprehensive income | 440,495 | (789,215) | 1,230,220 | (337,074) | ||
Preferred dividend requirements of subsidiaries | 5,034 | 4,794 | 15,586 | [1] | 14,552 | [1] |
Comprehensive Income Attributable to Entergy Corporation | 435,461 | (794,009) | 1,214,634 | (351,626) | ||
Entergy Louisiana [Member] | ||||||
Net income | 189,506 | 187,140 | 554,437 | 422,230 | ||
Other comprehensive income (loss) | ||||||
Pension and other postretirement liabilities | (232) | 412 | (725) | 1,204 | ||
Other comprehensive income (loss) | (232) | 412 | (725) | 1,204 | ||
Total comprehensive income | $ 189,274 | $ 187,552 | $ 553,712 | 423,434 | ||
Preferred dividend requirements of subsidiaries | $ 5,737 | |||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Consolidated Statements Of Com9
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flow hedges net unrealized gain (loss), tax expense (benefit) | $ 11,172 | $ (13,010) | $ (28,605) | $ (8,202) |
Pension and other postretirement liabilities, tax expense | 4,064 | 4,166 | 7,101 | 11,506 |
Net unrealized investment gains, tax expense | 20,635 | (51,295) | 58,508 | (77,921) |
Foreign currency translation, tax expense | (48) | (253) | (688) | (190) |
Entergy Louisiana [Member] | ||||
Pension and other postretirement liabilities, tax expense | $ (145) | $ 258 | $ (404) | $ 803 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
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 with certainty the outcome of such proceedings, management does not believe that the ultimate resolution of these matters will have a material adverse effect on Entergy’s results of operations, cash flows, or financial condition, except as otherwise discussed in the Form 10-K or in this report. Entergy discusses regulatory proceedings in Note 2 to the financial statements in the Form 10-K and herein and discusses tax proceedings in Note 3 to the financial statements in the Form 10-K and Note 10 to the financial statements herein. ANO Damage, Outage, and NRC Reviews See Note 8 to the financial statements in the Form 10-K for a discussion of the ANO stator incident and subsequent NRC reviews. As discussed in the Form 10-K, in March 2015 the NRC issued a letter notifying Entergy of its decision to move ANO into the “multiple/repetitive degraded cornerstone column” (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 the flood barrier 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 expenses 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 expects to incur incremental expenses of approximately $50 million in 2016, of which $37 million was incurred as of September 30, 2016, in support of NRC inspection activities and to implement Entergy Arkansas’s performance improvement initiatives developed in 2015. A lesser amount of incremental expenses 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. Pilgrim NRC Oversight and Planned Shutdown In September 2015 the NRC placed Pilgrim in its “multiple/repetitive degraded cornerstone column” (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 in operation and maintenance expense, including approximately $30 million in 2016, of which $20 million was incurred as of September 30, 2016. The estimate does not include potential capital investment or other costs to address issues that may arise in the inspection. Entergy determined in April 2016 that it intends to refuel Pilgrim in 2017 and then cease operations May 31, 2019. In October 2015, Entergy previously announced its intention to cease operations at Pilgrim because of poor market conditions, reduced revenues, and increased operational costs. Pilgrim currently has approximately 677 MW of Capacity Supply Obligations in ISO New England through May 2019. 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 current Presidential administration’s 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 award 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 an $11 million reduction to bring its remaining FitzPatrick plant asset balance to zero . The remaining $21 million was recorded as a reduction to other operation and maintenance expense because FitzPatrick’s plant asset balance is fully impaired. 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 . 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 partial 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 $4 million as a reduction to previously-recorded depreciation expense. System Energy reduced its Grand Gulf plant asset balance by the remaining $12 million . In July 2016 the U.S. Court of Federal Claims issued a partial judgment in the amount of $31 million in favor of Entergy Arkansas and against the DOE in the second round ANO damages case. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Arkansas requested payment from the U.S. Treasury of the $31 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, and other operation and maintenance expense. The ANO damages award included $6 million related to costs previously capitalized, $19 million related to costs previously recorded as nuclear fuel expense, and $6 million related to costs previously recorded as other operation and maintenance expense. Entergy Arkansas reduced its ANO plant asset balance by the $6 million . 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. The appeals period for the partial judgment has ended with no appeals filed, and Entergy Louisiana requested payment from the U.S. Treasury of the $53 million in September 2016 and recorded a receivable as of September 30, 2016. The primary effects of recording the receivable were reductions to plant, nuclear fuel expense, other operation and maintenance expense, and depreciation expense. The Waterford 3 damages award 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. Entergy Louisiana reduced its Waterford 3 plant asset balance by the remaining $38 million . In September 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the Entergy Nuclear Palisades case in the amount of $14 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. The appeals period for the judgment has not yet expired. In October 2016 the U.S. Supreme Court of Federal Claims issued a judgment in the second round Entergy Nuclear Indian Point 2 case in the amount of $34 million . The appeals period for the judgment has not yet expired. 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 See Note 8 to the financial statements in the Form 10-K for information on nuclear liability and property insurance associated with Entergy’s nuclear power plants. Conventional Property Insurance See Note 8 to the financial statements in the Form 10-K for information on Entergy’s non-nuclear property insurance program. Employment Litigation See Note 8 to the financial statements in the Form 10-K for information on Entergy’s employment and labor-related proceedings. Asbestos Litigation (Entergy Louisiana and Entergy Texas) See Note 8 to the financial statements in the Form 10-K for information regarding asbestos litigation at Entergy Louisiana and Entergy Texas. |
Rate And Regulatory Matters
Rate And Regulatory Matters | 9 Months Ended |
Sep. 30, 2016 | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Entergy Arkansas [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Entergy Louisiana [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Entergy Mississippi [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Entergy New Orleans [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Entergy Texas [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
System Energy [Member] | |
Public Utilities Disclosure [Text Block] | 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 See Note 2 to the financial statements in the Form 10-K for information regarding regulatory assets and regulatory liabilities in the Utility business presented on the balance sheets of Entergy and the Registrant Subsidiaries. The following are updates to that discussion. Fuel and purchased power cost recovery Entergy Arkansas Production Cost Allocation Rider In May 2016, Entergy Arkansas filed its annual rate 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 rates will be effective through June 2017. Entergy Louisiana In April 2010 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 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. Two parties intervened in the proceeding. A procedural schedule was established for the identification of issues by the intervenors and for Entergy Louisiana to submit comments regarding the LPSC staff report and any issues raised by intervenors. One intervenor sought further proceedings regarding certain issues it raised in its comments on the LPSC staff report. Entergy Louisiana filed responses to both the LPSC staff report and the issues raised by the intervenor. After conducting additional discovery, in April 2016 the LPSC staff consultant issued its supplemental audit report, which concluded that Entergy Louisiana was not imprudent on the issues raised by the intervenor. The intervenor has stated that it does not intend to pursue these issues further. In October 2016 the LPSC staff filed testimony affirming the recommendation in its audit report that nuclear dry fuel storage costs should be realigned to base rates. A procedural schedule has been established for this proceeding, including an evidentiary hearing in November 2016. 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 includes 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 is was no longer recommending a disallowance of $3.4 million of the $8.6 million discussed above, but otherwise maintained positions from its report. Entergy Louisiana has recorded a provision for the estimated outcome of this proceeding. A procedural schedule has been established for this proceeding, including a hearing in December 2016. In June 2016 the LPSC staff provided notice of an audit 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 and purchased gas adjustment mechanisms for the period from 2012 through 2015. Discovery has not commenced. Entergy Mississippi 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 under both the energy cost recovery rider and the power management rider to flow through to customers the approximately $46 million net over-recovery over a six-month period. In August 2015 the MPSC approved the interim adjustments effective with September 2015 bills. In November 2015, Entergy Mississippi filed its annual redetermination of the annual factor to be applied under the energy cost recovery rider. The calculation of the annual factor included a projected over-recovery balance of $48 million projected through January 31, 2016. In January 2016 the MPSC approved the redetermined annual factor effective February 1, 2016. The MPSC further ordered, however, that due to the significant change in natural gas price forecasts since Entergy Mississippi’s filing in November 2015, Entergy Mississippi shall file a revised fuel factor with the MPSC no later than February 1, 2016. Pursuant to that order, Entergy Mississippi submitted a revised fuel factor. Additionally, because Entergy Mississippi’s projected over-recovery balance for the period ending January 31, 2017 was $68 million , in February 2016, Entergy Mississippi filed for another interim adjustment to the energy cost factor effective April 2016 to flow through to customers the projected over-recovery balance over a six-month period. That interim adjustment was approved by the MPSC in February 2016 effective for April 2016 bills. Mississippi Attorney General Complaint The Mississippi attorney general filed a complaint in state court in December 2008 against Entergy Corporation, Entergy Mississippi, Entergy Services, and Entergy Power alleging, among other things, violations of Mississippi statutes, fraud, and breach of good faith and fair dealing, and requesting an accounting and restitution. The complaint is wide ranging and relates to tariffs and procedures under which Entergy Mississippi purchases power not generated in Mississippi to meet electricity demand. Entergy believes the complaint is unfounded. In December 2008 the defendant Entergy companies removed the Attorney General’s lawsuit to U.S. District Court in Jackson, Mississippi. The Mississippi attorney general moved to remand the matter to state court. In August 2012 the District Court issued an opinion denying the Attorney General’s motion for remand, finding that the District Court has subject matter jurisdiction under the Class Action Fairness Act. The defendant Entergy companies answered the complaint and filed a counterclaim for relief based upon the Mississippi Public Utilities Act and the Federal Power Act. In May 2009 the defendant Entergy companies filed a motion for judgment on the pleadings asserting grounds of federal preemption, the exclusive jurisdiction of the MPSC, and factual errors in the Attorney General’s complaint. In September 2012 the District Court heard oral argument on Entergy’s motion for judgment on the pleadings. In January 2014 the U.S. Supreme Court issued a decision in which it held that cases brought by attorneys general as the sole plaintiff to enforce state laws were not considered “mass actions” under the Class Action Fairness Act, so as to establish federal subject matter jurisdiction. One day later the Attorney General renewed his motion to remand the Entergy case back to state court, citing the U.S. Supreme Court’s decision. The defendant Entergy companies responded to that motion reiterating the additional grounds asserted for federal question jurisdiction, and the District Court held oral argument on the renewed motion to remand in February 2014. In April 2015 the District Court entered an order denying the renewed motion to remand, holding that the District Court has federal question subject matter jurisdiction. The Attorney General appealed to the U.S. Fifth Circuit Court of Appeals the denial of the motion to remand. In July 2015 the Fifth Circuit issued an order denying the appeal, and the Attorney General subsequently filed a petition for rehearing of the request for interlocutory appeal, which was also denied. In December 2015 the District Court ordered that the parties submit to the court undisputed and disputed facts that are material to the Entergy defendants’ motion for judgment on the pleadings, as well as supplemental briefs regarding the same. Those filings were made in January 2016. In September 2016 the Attorney General filed a mandamus petition with the U.S. Fifth Circuit Court of Appeals in which the Attorney General asked the Fifth Circuit to order the chief judge to reassign this case to another judge. The District Court denied the Entergy companies’ motion for judgment on the pleadings. The Entergy companies filed a motion seeking to amend the District Court’s order denying the Entergy companies’ motion for judgment on the pleadings and allowing an interlocutory appeal. The Fifth Circuit granted the Attorney General’s motion for writ of mandamus and directed the chief judge to assign the case to a new judge. The case has now been reassigned, and the Entergy companies’ motion to amend the order remains pending. Entergy Texas As discussed in the Form 10-K, in July 2015 certain parties filed briefs in the open proceeding asserting that Entergy Texas should refund to retail customers an additional $10.9 million in bandwidth remedy payments Entergy Texas received related to calendar year 2006 production costs. In October 2015 an ALJ issued a proposal for decision recommending that the additional $10.9 million in bandwidth remedy payments be refunded to retail customers. In January 2016 the PUCT issued its order affirming the ALJ’s recommendation, and Entergy Texas filed a motion for rehearing of the PUCT’s decision, which the PUCT denied. In March 2016, Entergy Texas filed a complaint in Federal District Court for the Western District of Texas and a petition in the Travis County (State) District Court appealing the PUCT’s decision. Both appeals are pending, but the appeals do not stay the PUCT’s decision. The federal appeal is scheduled to be heard in December 2016. In April 2016, Entergy Texas filed with the PUCT an application to refund to customers approximately $56.2 million . The refund resulted from (i) $41.8 million of fuel cost recovery over-collections through February 2016, (ii) the $10.9 million in bandwidth remedy payments, discussed above, that Entergy Texas received related to calendar year 2006 production costs, and (iii) $3.5 million in bandwidth remedy payments that Entergy Texas received related to 2006-2008 production costs. In June 2016, Entergy Texas filed an unopposed settlement agreement that added additional over-recovered fuel costs for the months of March and April 2016. The settlement resulted in a $68 million refund. The ALJ approved the refund on an interim basis to be made to most customers over a four-month period beginning with the first billing cycle of July 2016. In July 2016 the PUCT issued an order approving the interim refund. In July 2016, Entergy Texas filed an application to reconcile its fuel and purchased power costs for the period April 1, 2013 through March 31, 2016. Under a recent PUCT rule change, a fuel reconciliation is required to be filed at least once every three years and outside of a base rate case filing. During the reconciliation period, Entergy Texas incurred approximately $1.77 billion in Texas jurisdictional eligible fuel and purchased power expenses, net of certain revenues credited to such expenses and other adjustments. Entergy Texas estimates an over-recovery balance of approximately $19.3 million , including interest, which Entergy Texas is requesting authority to carry over as the beginning balance for the subsequent reconciliation period beginning Apri1 2016. Entergy Texas also notes, however, that the $19.3 million over collection is currently being refunded to customers as a portion of the interim fuel refund beginning with the first billing cycle of July 2016, discussed above. Entergy Texas also is requesting a prudence finding for each of the fuel-related contracts and arrangements entered into or modified during the reconciliation period that have not been reviewed by the PUCT in a prior proceeding. The PUCT has one year to issue a final order in this proceeding. Retail Rate Proceedings See Note 2 to the financial statements in the Form 10-K for detailed information regarding retail rate proceedings involving the Utility operating companies. The following are updates to that information. Filings with the APSC 2015 Rate Case In April 2015, Entergy Arkansas filed with the APSC for a general change in rates, charges, and tariffs. The filing notified the APSC of Entergy Arkansas’s intent to implement a formula rate review mechanism pursuant to Arkansas legislation passed in 2015, and requested a retail rate increase of $268.4 million , with a net increase in revenue of $167 million. The filing requested a 10.2% return on common equity. In September 2015 the APSC staff and intervenors filed direct testimony, with the APSC staff recommending a revenue requirement of $217.9 million and a 9.65% return on common equity. In December 2015, Entergy Arkansas, the APSC staff, and certain of the intervenors in the rate case filed with the APSC a joint motion for approval of a settlement of the case that proposed a retail rate increase of approximately $225 million with a net increase in revenue of approximately $133 million ; an authorized return on common equity of 9.75% ; and a formula rate plan tariff that provides a +/- 50 basis point band around the 9.75% allowed return on common equity. A significant portion of the rate increase is related to Entergy Arkansas’s acquisition in March 2016 of Union Power Station Power Block 2 for a base purchase price of $237 million , subject to closing adjustments. The settlement agreement also provided for amortization over a 10-year period of $7.7 million of previously-incurred costs related to ANO post-Fukushima compliance and $9.9 million of previously-incurred costs related to ANO flood barrier compliance. A settlement hearing was held in January 2016. In February 2016 the APSC approved the settlement with one exception that would reduce the retail rate increase proposed in the settlement by $5 million . The settling parties agreed to the APSC modifications in February 2016. The new rates were effective February 24, 2016 and began billing with the first billing cycle of April 2016. In March 2016, Entergy Arkansas made a compliance filing regarding the new rates that included an interim base rate adjustment surcharge, effective with the first billing cycle of April 2016, to recover the incremental revenue requirement for the period February 24, 2016 through March 31, 2016. The interim base rate adjustment surcharge will recover a total of $21.1 million over the nine-month period from April 2016 through December 2016. 2016 Formula Rate Plan Filing In July 2016, Entergy Arkansas filed with the APSC its 2016 formula rate plan filing showing Entergy Arkansas’s projected earned return on common equity for the twelve months ended December 31, 2017 test period to be below the formula rate plan bandwidth. The filing requested a $67.7 million revenue requirement increase to achieve Entergy Arkansas’s target earned return on common equity of 9.75% . In October 2016, Entergy Arkansas filed with the APSC revised formula rate plan attachments with an updated request for a $54.4 million revenue requirement increase based on acceptance of certain adjustments and recommendations made by the APSC staff and other intervenors, as well as three additional adjustments identified as appropriate by Entergy Arkansas. Also in October 2016, Entergy Arkansas and all parties filed a joint motion to approve a settlement agreement and waive the hearing scheduled for November 2016. The APSC denied the request to waive the hearing, directed certain witnesses to appear, and stated that approval of the settlement agreement would be addressed by a subsequent order. In November 2016 a hearing was held and the APSC issued an order directing the parties to brief certain issues. The parties to the settlement agreement, who reached agreement on all issues and certain additional provisions related to future filing information, requested an order approving the settlement agreement and the proposed $54.4 million revenue requirement increase and rate adjustment by December 9, 2016. If a final order is not issued by this date, the proposed formula rate plan rate adjustment will become effective December 30, 2016, subject to refund. Advanced Metering Infrastructure (AMI) Filing In September 2016, Entergy Arkansas filed an application seeking an order from the APSC finding that Entergy Arkansas’s deployment of AMI is in the public interest. Entergy Arkansas proposed to replace existing meters with advanced meters that enable two-way data communication; design and build a secure and reliable network to support such communications; and implement support systems. AMI is intended to serve as the foundation of Entergy Arkansas’s modernized power grid. The filing identified a number quantified and unquantified benefits, and Entergy Arkansas provided a cost benefit analysis showing that its AMI deployment is expected to produce a nominal net benefit to customers of $431 million . Entergy Arkansas also sought to continue to include in rate base the remaining book value, approximately $57 million , of existing meters that will be retired as part of the AMI deployment and also to depreciate those assets using current depreciation rates. Entergy Arkansas proposed a 15-year depreciable life for the new advanced meters, the three-year deployment of which is expected to begin in 2019. Subject to approval by the APSC, deployment of the communications network is expected to begin in 2018. Entergy Arkansas proposed to include the AMI deployment costs and the quantified benefits in future formula rate plan filings. In order to have certainty around its 2018 projected AMI deployment costs, Entergy Arkansas sought an order from the APSC prior to the hearing on its expected 2017 formula rate plan filing in fourth quarter 2017. Filings with the LPSC Retail Rates - Electric 2015 Formula Rate Plan Filing In May 2016, Entergy Louisiana filed its formula rate plan evaluation report for its 2015 calendar year operations. The evaluation report reflects an earned return on common equity of 9.07% . As such, no adjustment to base formula rate plan revenue is required. The following other adjustments, however, are required under the formula rate plan: an increase in the legacy Entergy Louisiana additional capacity mechanism of $14.2 million ; a separate increase in legacy Entergy Louisiana revenue of $10 million primarily to reflect the effects of the termination of the System Agreement; an increase in the legacy Entergy Gulf States Louisiana additional capacity mechanism of $0.5 million ; a decrease in legacy Entergy Gulf States Louisiana revenue of $58.7 million primarily to reflect the effects of the termination of the System Agreement; and an increase of $11 million to the MISO cost recovery mechanism. Rates were implemented with the first billing cycle of September 2016, subject to refund. Waterford 3 Replacement Steam Generator Project Following the completion of the Waterford 3 replacement steam generator project, the LPSC undertook a prudence review in connection with a filing made by Entergy Louisiana in April 2013 with regard to the following aspects of the replacement project: 1) project management; 2) cost controls; 3) success in achieving stated objectives; 4) the costs of the replacement project; and 5) the outage length and replacement power costs. In July 2014 the LPSC Staff filed testimony recommending potential project and replacement power cost disallowances of up to $71 million , citing a need for further explanation or documentation from Entergy Louisiana. An intervenor filed testimony recommending disallowance of $141 million of incremental project costs, claiming the steam generator fabricator was imprudent. Entergy Louisiana provided further documentation and explanation requested by the LPSC staff. An evidentiary hearing was held in December 2014. At the hearing the parties maintained the positions reflected in pre-filed testimony. Entergy Louisiana believes that the replacement steam generator costs were prudently incurred and applicable legal principles support their recovery in rates. Nevertheless, Entergy Louisiana recorded a write-off of $16 million of Waterford 3’s plant balance in December 2014 because of the uncertainty at the time associated with the resolution of the prudence review. In December 2015 the ALJ issued a proposed recommendation, which was subsequently finalized, concluding that Entergy Louisiana prudently managed the Waterford 3 replacement steam generator project, including the selection, use, and oversight of contractors, and could not reasonably have anticipated the damage to the steam generators. Nevertheless, the ALJ concluded that Entergy Louisiana was liable for the conduct of its contractor and subcontractor and, therefore, recommended a disallowance of $67 million in capital costs. Additionally, the ALJ concluded that Entergy Louisiana did not sufficiently justify the incurrence of $2 million in replacement power costs during the replacement outage. After considering the progress of the proceeding in light of the ALJ recommendation, Entergy Louisiana recorded in the fourth quarter 2015 approximately $77 million in charges, including a $45 million asset write-off and a $32 million regulatory charge, to reflect that a portion of the assets associated with the Waterford 3 replacement steam generator project is no longer probable of recovery. Entergy Louisiana maintains that the ALJ’s recommendation contains significant factual and legal errors. In October 2016 the parties reached a settlement in this matter. If approved by the LPSC, the settlement effectively would provide for an agreed-upon disallowance of $67 million of plant, which had been previously written off by Entergy Louisiana, as discussed above. The settlement would also require a refund to customers of approximately $43 million , representing the revenues previously collected associated with the disallowed plant, including interest, and $2 million of replacement power costs. Entergy Louisiana had previously recorded provisions for these refunds. Additionally, under the settlement, Entergy Louisiana would provide a one-time credit to customers of approximately $24 million , representing the value of potential future service credits agreed to by the project contractor. The settlement provides that Entergy Louisiana can retain the value associated with these service credits, to the extent they are realized in the future. If the settlement is approved by the LPSC, the refunds and one-time credit to customers would be made in December 2016. Ninemile 6 As discussed in the Form 10-K, in July 2015, Entergy Louisiana submitted to the LPSC a Ninemile 6 compliance filing including an estimate at completion, inclusive of interconnection costs and transmission upgrades, of approximately $648 million , or $76 million less than originally estimated, along with other project details and supporting evidence, to enable the LPSC to review the prudence of Entergy Louisiana’s management of the project. Testimony filed by the LPSC staff generally supports the prudence of the management of the project and recovery of the costs incurred to complete the project. The LPSC staff had questioned the warranty coverage for one element of the project. In March 2016, Entergy Louisiana and the LPSC staff filed a joint motion to suspend the procedural schedule pending the filing of an uncontested joint stipulated settlement. In October 2016 all parties agreed to a stipulation providing that 100% of Ninemile 6 construction costs was prudently incurred and is eligible for recovery from customers, but reserving the LPSC’s rights to review the prudence of Entergy Louisiana’s actions regarding one element of the project. This stipulation is subject to LPSC approval. Union Power Station As discussed in the Form 10-K, in October 2015 the LPSC approved a settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station. In March 2016, Entergy Louisiana acquired Power Blocks 3 and 4 of Union Power Station for an aggregate purchase price of approximately $474 million and implemented rates to collect the estimated first-year revenue requirement with the first billing cycle of March 2016. As a term of the LPSC-approved settlement authorizing the purchase of Power Blocks 3 and 4 of the Union Power Station, Entergy Louisiana agreed to make a filing with the LPSC to review its decisions to deactivate Ninemile 3 and Willow Glen 2 and 4 and its decision to retire Little Gypsy 1. In January 2016, Entergy Louisiana made its compliance filing with the LPSC. Entergy Louisiana, LPSC staff, and intervenors participated in a technical conference in March 2016 where Entergy Louisiana presented information on its deactivation/retirement decisions for these four units in addition to information on the current deactivation decisions for the ten-year planning horizon. Parties have requested further proceedings on the prudence of Entergy Louisiana’s decision to deactivate Willow Glen 2 and 4. This matter is pending before an ALJ, and a hearing has been scheduled in March 2017 to determine, under applicable law, whether Willow Glen 2 and 4 units should be returned to service. Retail Rates - Gas In January 2016, Entergy Louisiana filed with the LPSC its gas rate stabilization plan for the test year ended September 30, 2015. The filing showed an earned return on common equity of 10.22% , which is within the authorized bandwidth, therefore requiring no change in rates. In March 2016 the LPSC staff issued its report stating that the 2015 gas rate stabilization plan filing is in compliance with the exception of several issues that require additional information, explanation, or clarification for which the LPSC staff has reserved the right to further review. In July 2016 the parties to the proceeding filed an unopposed joint report and motion for entry of order accepting report that indicates no outstanding issues remain in the filing. Absent approval of an extension by the LPSC, test year 2015 is the final year under the current gas rate stabilization plan. In February 2016, however, Entergy Louisiana filed a motion requesting to extend the term of the gas rate stabilization plan for an additional three-year term. A procedural schedule has been established, including a hearing in November 2016. The LPSC staff filed testimony supportive of the renewal of the gas rate stabilization plan. The parties submitted a motion indicating that they are working toward development of a settlement that they would seek to have approved at the November 2016 hearing. Filings with the MPSC In March 2016, Entergy Mississippi submitted its formula rate plan 2016 test year filing showing Entergy Mississippi’s projected earned return for the 2016 calendar year to be below the formula rate plan bandwidth. The filing showed a $32.6 million rate increase was necessary to reset Entergy Mississippi’s earned return on common equity to the specified point of adjustment of 9.96% , within the formula rate plan bandwidth. In June 2016 the MPSC approved Entergy Mississippi’s joint stipulation with the Mississippi Public Utilities Staff. The joint stipulation provided for a total revenue increase of $23.7 million . The revenue increase includes a $19.4 million increase through the formula rate plan, resulting in a return on common equity point of adjustment of 10.07% . The revenue increase also includes $4.3 million in incremental ad valorem tax expenses to be collected through an updated ad valorem tax adjustment rider. The revenue increase and ad valorem tax adjustment rider were effective with the July 2016 bills. Filings with the City Council As discussed in the Form 10-K, in November 2015 the City Council authorized expansion of the terms of the purchased power and capacity acquisition cost recovery rider to recover the non-fuel purchased power expense from Ninemile 6, the revenue requirement associated with the purchase of Power Block 1 of the Union Power Station, and a credit to customers of $400 thousand monthly beginning June 2016 in recognition of the decrease in other operation and maintenance expenses that would result with the deactivation of Michoud Units 2 and 3. In March 2016, Entergy New Orleans purchased Power Block 1 of the Union Power Station for approximately $237 million and initiated recovery of these costs with March 2016 bills. In July 2016, Entergy New Orleans and the City Council Utility Committee agreed to a temporary increase in the Michoud credit to customers to a total of $1.4 million monthly for August 2016 through December 2016. Internal Restructuring In July 2016, Entergy New Orleans filed an application with the City Council seeking authorization to undertake a restructuring which would result in the transfer of substantially all of the assets and operations of Entergy New Orleans to a new entity, which would ultimately be held by an existing Entergy subsidiary holding company. The restructuring is subject to regulatory review and approval of the City Council and the FERC. The application provided that if it is approved by the City Council in 2016, Entergy New Orleans would credit retail customers $5 million in each of the years 2016 and 2017. Intervenors filed direct testimony and comments in September 2016 and the City Council advisors filed direct testimony in October 2016. A hearing at the City Council scheduled for October 2016 has been continued until December 2016. In October 2016, Entergy New Orleans filed its rebuttal testimony and therein agreed that, given the extended procedural schedule, the $5 million in proposed 2016 credits would still be paid, although on a different schedule, if the City Council approved the restructuring after 2016 but before the end of the first quarter of 2017. The filing with the FERC has not yet been made, but if the restructuring is approved by the FERC by December 31, 2018, Entergy New Orleans has proposed to credit retail customers $5 million in each of the years 2018, 2019, and 2020. If City Council and FERC approvals are obtained, Entergy New Orleans expects the restructuring will be consummated by December 31, 2017. It is currently contemplated that Entergy New Orleans would undertake a multi-step restructuring, which would include the following: • Entergy New Orleans would redeem its outstanding preferred stock at a price of approximately $21 million , which includes an expected call premium of approximately $819,000 , plus any accumulated and unpaid dividends. • Entergy New Orleans would convert from a Louisiana corporation to a Texas corporation. • Under the Texas Business Organizations Code (TXBOC), Entergy New Orleans will allocate substantially all of its assets to a new subsidiary, Entergy New Orleans Power, LLC, a Texas limited liability company (Entergy New Orleans Power), and Entergy New Orleans Power will assume substantially all of the liabilities of Entergy New Orleans, in a transaction regarded as a merger under the TXBOC. Entergy New Orleans will remain in existence and hold the membership interests in Entergy New Orleans Power. • Entergy New Orleans will contribute the membership interests in Entergy New Orleans Power to an affiliate (Entergy Utility Holding Company, LLC |
Equity
Equity | 9 Months Ended |
Sep. 30, 2016 | |
Equity | EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and System Energy) Common Stock Earnings (loss) per Share The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.6 million for the nine months ended September 30, 2016 and approximately 7.4 million for the nine months ended September 30, 2015 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. In May 2016, System Energy paid its parent, Entergy Corporation, a $40 million distribution out of its common stock. Treasury Stock During the nine months ended September 30, 2016 , Entergy Corporation issued 738,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2016 . Preferred Stock In September 2016, Entergy Arkansas redeemed $10 million of its 6.08% Series preferred stock and $75 million of its 6.45% Series preferred stock. In October 2016, Entergy Mississippi redeemed $30 million of its 6.25% Series preferred stock. Retained Earnings On October 28, 2016, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on December 1, 2016, to holders of record as of November 10, 2016. 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Arkansas [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and System Energy) Common Stock Earnings (loss) per Share The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.6 million for the nine months ended September 30, 2016 and approximately 7.4 million for the nine months ended September 30, 2015 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. In May 2016, System Energy paid its parent, Entergy Corporation, a $40 million distribution out of its common stock. Treasury Stock During the nine months ended September 30, 2016 , Entergy Corporation issued 738,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2016 . Preferred Stock In September 2016, Entergy Arkansas redeemed $10 million of its 6.08% Series preferred stock and $75 million of its 6.45% Series preferred stock. In October 2016, Entergy Mississippi redeemed $30 million of its 6.25% Series preferred stock. Retained Earnings On October 28, 2016, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on December 1, 2016, to holders of record as of November 10, 2016. 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Louisiana [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and System Energy) Common Stock Earnings (loss) per Share The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.6 million for the nine months ended September 30, 2016 and approximately 7.4 million for the nine months ended September 30, 2015 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. In May 2016, System Energy paid its parent, Entergy Corporation, a $40 million distribution out of its common stock. Treasury Stock During the nine months ended September 30, 2016 , Entergy Corporation issued 738,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2016 . Preferred Stock In September 2016, Entergy Arkansas redeemed $10 million of its 6.08% Series preferred stock and $75 million of its 6.45% Series preferred stock. In October 2016, Entergy Mississippi redeemed $30 million of its 6.25% Series preferred stock. Retained Earnings On October 28, 2016, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on December 1, 2016, to holders of record as of November 10, 2016. 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Mississippi [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and System Energy) Common Stock Earnings (loss) per Share The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.6 million for the nine months ended September 30, 2016 and approximately 7.4 million for the nine months ended September 30, 2015 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. In May 2016, System Energy paid its parent, Entergy Corporation, a $40 million distribution out of its common stock. Treasury Stock During the nine months ended September 30, 2016 , Entergy Corporation issued 738,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2016 . Preferred Stock In September 2016, Entergy Arkansas redeemed $10 million of its 6.08% Series preferred stock and $75 million of its 6.45% Series preferred stock. In October 2016, Entergy Mississippi redeemed $30 million of its 6.25% Series preferred stock. Retained Earnings On October 28, 2016, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on December 1, 2016, to holders of record as of November 10, 2016. 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
System Energy [Member] | |
Equity | EQUITY (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, and System Energy) Common Stock Earnings (loss) per Share The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 4.6 million for the nine months ended September 30, 2016 and approximately 7.4 million for the nine months ended September 30, 2015 . Entergy’s stock options and other equity compensation plans are discussed in Note 5 to the financial statements herein and in Note 12 to the financial statements in the Form 10-K. In May 2016, System Energy paid its parent, Entergy Corporation, a $40 million distribution out of its common stock. Treasury Stock During the nine months ended September 30, 2016 , Entergy Corporation issued 738,579 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and other stock-based awards. Entergy Corporation did not repurchase any of its common stock during the nine months ended September 30, 2016 . Preferred Stock In September 2016, Entergy Arkansas redeemed $10 million of its 6.08% Series preferred stock and $75 million of its 6.45% Series preferred stock. In October 2016, Entergy Mississippi redeemed $30 million of its 6.25% Series preferred stock. Retained Earnings On October 28, 2016, Entergy Corporation’s Board of Directors declared a common stock dividend of $0.87 per share, payable on December 1, 2016, to holders of record as of November 10, 2016. 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Revolving Credit Facilities, Li
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | 9 Months Ended |
Sep. 30, 2016 | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Arkansas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Louisiana [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Mississippi [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy New Orleans [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Texas [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
System Energy [Member] | |
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt | REVOLVING CREDIT FACILITIES, LINES OF CREDIT, SHORT-TERM BORROWINGS, AND LONG-TERM DEBT (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 2021. Entergy Corporation also has the ability to issue letters of credit against 50% 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 nine months ended September 30, 2016 was 2.24% on the drawn portion of the facility. Following is a summary of the borrowings outstanding and capacity available under the facility as of September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 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 $1.5 billion . At September 30, 2016 , Entergy Corporation had $264 million of commercial paper outstanding. The weighted-average interest rate for the nine months ended September 30, 2016 was 1.14% . Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. 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 related to MISO. Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million 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, 2017. In addition to borrowings from commercial banks, these companies may also borrow from the Entergy System money pool. The money pool is an inter-company borrowing arrangement designed to reduce the Utility subsidiaries’ dependence on external short-term borrowings. Borrowings from the money pool 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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— Entergy Louisiana, Entergy Mississippi, Entergy Texas, and System Energy have obtained long-term financing authorizations from the FERC that extend through October 2017. Entergy Arkansas has obtained long-term financing authorization from the APSC that extends through December 2018. Entergy New Orleans has obtained long-term financing authorization from the City Council that extends through June 2018. Entergy Nuclear Vermont Yankee Credit Facilities Entergy Nuclear Vermont Yankee has a credit facility guaranteed by Entergy Corporation which expires in January 2018. In the first quarter 2016, Entergy Nuclear Vermont Yankee increased the borrowing capacity of its credit facility to $100 million . 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 September 30, 2016 , $41.5 million in cash borrowings were outstanding under the credit facility. The weighted average interest rate for the nine months ended September 30, 2016 was 2.19% on the drawn portion of the facility. Entergy Nuclear Vermont Yankee also has an uncommitted credit facility guaranteed by Entergy Corporation with a borrowing capacity of $85 million which expires in January 2018. Entergy Nuclear Vermont Yankee does not have the ability to issue letters of credit against the credit facility. This facility provides an additional funding source to Entergy Nuclear Vermont Yankee for general business purposes including, without limitation, the decommissioning of Vermont Yankee. As of September 30, 2016 , there were no cash borrowings outstanding under the credit facility. The rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility was 2.27% on the drawn portion of the facility. Variable Interest Entities (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of the consolidation of the nuclear fuel company variable interest entities (VIEs). 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. The commitment fees on the credit facilities are currently 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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 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. Debt Issuances and Redemptions (Entergy Corporation) In August 2016, Entergy Corporation issued $750 million of 2.95% Series senior notes due September 2026. Entergy Corporation used the proceeds to repay a portion of its commercial paper outstanding and to repay borrowings under the Entergy Corporation credit facility, and plans to use the remainder of the proceeds to pay, prior to maturity, its $500 million of 4.7% Series senior notes due January 2017. (Entergy Arkansas) In January 2016, Entergy Arkansas issued $325 million of 3.5% Series first mortgage bonds due April 2026. Entergy Arkansas used the proceeds to pay, prior to maturity, its $175 million of 5.66% Series first mortgage bonds due February 2025, and used the remainder of the proceeds, together with other funds, towards the purchase of Power Block 2 at the Union Power Station and for general corporate purposes. See Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In June 2016, Entergy Arkansas issued $55 million of 3.5% Series first mortgage bonds due April 2026. These bonds were a further issuance of the 3.5% Series first mortgage bonds issued in January 2016. In July 2016, Entergy Arkansas used the proceeds, together with other funds, to pay, prior to maturity, its $60 million of 6.38% Series first mortgage bonds due November 2034 and for general corporate purposes. In July 2016 the Entergy Arkansas nuclear fuel company variable interest entity redeemed, at maturity, its $55 million of 3.23% Series J notes. In August 2016, Entergy Arkansas issued $410 million of 4.875% Series first mortgage bonds due September 2066. Entergy Arkansas used the proceeds, together with other funds, to redeem $10 million of its 6.08% Series preferred stock, to redeem $75 million of its 6.45% Series preferred stock, to pay, prior to maturity, its $225 million of 5.75% Series first mortgage bonds due November 2040, to pay, prior to maturity, its $100 million of 5.9% Series first mortgage bonds due June 2033, and for general corporate purposes. (Entergy Louisiana) In March 2016, Entergy Louisiana issued $200 million of 4.95% Series first mortgage bonds due January 2045. These bonds were a further issuance of the 4.95% Series first mortgage bonds issued in November 2014. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, to repay borrowings under its $350 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana issued $425 million of 3.25% Series collateral trust mortgage bonds due April 2028. Entergy Louisiana used the proceeds to pay, together with other funds, the $60 million cash portion of the price to purchase the undivided interests of Waterford 3, to repay borrowings from the money pool, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Blocks 3 and 4 at the Union Power Station. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction and Note 13 to the financial statements herein for discussion of the Union Power Station purchase. In March 2016, Entergy Louisiana arranged for the issuance by the Louisiana Public Facilities Authority of (i) $83.680 million of 3.375% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016A due September 2028, and (ii) $115 million of 3.50% pollution control refunding revenue bonds (Entergy Louisiana, LLC Project) Series 2016B due June 2030, each of which series is evidenced by a separate series of non-interest bearing collateral trust mortgage bonds of Entergy Louisiana. The proceeds from these issuances were applied in April 2016 to the refunding of $198.68 million of outstanding pollution control revenue bonds previously issued on behalf of Entergy Louisiana. In March 2016, Entergy Louisiana issued $51.972 million of Waterford Series collateral trust mortgage notes due July 2017 as part of the purchase of the undivided interests in Waterford 3. See Note 11 to the financial statements herein for discussion of the Waterford 3 transaction. In March 2016 the Entergy Louisiana nuclear fuel company variable interest entity redeemed, at maturity, its $20 million of 3.30% Series F notes. In May 2016, Entergy Louisiana issued $325 million of 3.05% Series collateral trust mortgage bonds due June 2031. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $240 million of 6.2% Series first mortgage bonds due July 2033 and its $85 million of 6.18% Series first mortgage bonds due March 2035, and for general corporate purposes. In August 2016, Entergy Louisiana issued $270 million of 4.875% Series collateral trust mortgage bonds due September 2066. Entergy Louisiana used the proceeds, together with other funds, to pay, prior to maturity, its $118 million of 6.0% Series first mortgage bonds due March 2040, to pay, prior to maturity, its $150 million of 5.875% Series first mortgage bonds due June 2041, and for general corporate purposes. In October 2016, Entergy Louisiana issued $400 million of 2.40% Series collateral trust mortgage bonds due October 2026. Entergy Louisiana plans to use the proceeds to repay amounts outstanding of approximately $57 million on its Waterford 3 lessor debt due January 2017 and for general corporate purposes. See Note 11 to the financial statements herein for discussion of Entergy Louisiana’s purchase of the undivided interests in Waterford 3. (Entergy Mississippi) In May 2016, Entergy Mississippi issued $375 million of 2.85% Series first mortgage bonds due June 2028. Entergy Mississippi used the proceeds to pay, at maturity, its $125 million of 3.25% Series first mortgage bonds due June 2016, to pay, prior to maturity, its $75 million of 6.0% Series first mortgage bonds due November 2032, and its $100 million of 6.25% Series first mortgage bonds due April 2034, and to cause the repayment of the $30 million of 4.90% pollution control revenue bonds due 2022 issued on behalf of Entergy Mississippi, and for general corporate purposes. In September 2016, Entergy Mississippi issued $260 million of 4.90% Series first mortgage bonds due October 2066. In October 2016, Entergy Mississippi used the proceeds, together with other funds, to pay, prior to maturity, its $80 million of 6.2% Series first mortgage bonds due April 2040, to pay, prior to maturity, its $150 million of 6.0% Series first mortgage bonds due May 2051, and to redeem $30 million of its 6.25% Series preferred stock. (Entergy New Orleans) In March 2016, Entergy New Orleans issued $110 million of 5.50% Series first mortgage bonds due April 2066. Entergy New Orleans used the proceeds to repay borrowings from the money pool, to repay borrowings under its $25 million credit facility, and for general corporate purposes. A portion of the proceeds of the borrowings described in the preceding sentence were used, together with other funds, for the purchase of Power Block 1 of the Union Power Station. See Note 13 to the financial statements for discussion of the Union Power Station purchase. In May 2016, Entergy New Orleans issued $85 million of 4% Series first mortgage bonds due June 2026. Entergy New Orleans used the proceeds to pay, prior to maturity, its $33.271 million of 5.6% Series first mortgage bonds due September 2024, to pay, prior to maturity, its $37.772 million of 5.65% Series first mortgage bonds due September 2029, and for general corporate purposes. (Entergy Texas) In March 2016, Entergy Texas issued $125 million of 2.55% Series first mortgage bonds due June 2021. Entergy Texas used the proceeds for general corporate purposes. (System Energy) In May 2016, System Energy caused the repayment of $22 million of its $156 million of 5.875% pollution control revenue bonds due 2022 issued on behalf of System Energy. Fair Value The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION (Entergy Corporation) Entergy grants stock and stock-based awards, which are described more fully in Note 12 to the financial statements in the Form 10-K. Awards under Entergy’s plans generally vest over three years. Stock Options Entergy granted options on 696,900 shares of its common stock under the 2015 Equity Ownership Plan during the first quarter 2016 with a weighted-average fair value of $7.40 per option. As of September 30, 2016 , there were options on 7,152,077 shares of common stock outstanding with a weighted-average exercise price of $84.93 . The intrinsic value, which has no effect on net income, of the outstanding stock options 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 September 30, 2016 . Because Entergy’s stock price at September 30, 2016 was less than the weighted average exercise price, the aggregate intrinsic value of the stock options outstanding as of September 30, 2016 was zero. The intrinsic value of all “in the money” stock options was $17.7 million as of September 30, 2016 . The following table includes financial information for outstanding stock options for the three months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $1.1 $1.1 Tax benefit recognized in Entergy’s net income $0.5 $0.4 Compensation cost capitalized as part of fixed assets and inventory $0.2 $0.1 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $3.3 $3.2 Tax benefit recognized in Entergy’s net income $1.3 $1.2 Compensation cost capitalized as part of fixed assets and inventory $0.6 $0.5 Other Equity Awards In January 2016 the Board approved and Entergy granted 370,000 restricted stock awards and 199,800 long-term incentive awards under the 2015 Equity Ownership Plan. The restricted stock awards were made effective as of January 28, 2016 and were valued at $70.56 per share, which was the closing price of Entergy’s common stock on that date. One-third of the restricted stock awards will vest upon each anniversary of the grant date. In addition, long-term incentive awards were granted in the form of performance units that represent the value of, and are settled with, one share of Entergy Corporation common stock at the end of the three-year performance period, plus dividends accrued during the performance period on the number of performance units earned. The performance units were granted effective as of January 28, 2016 and were valued at $84.52 per share. Entergy considers various factors, primarily market conditions, in determining the value of the performance units. Shares of restricted stock 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. Performance units have the same dividend rights as shares of Entergy 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 financial information for other outstanding equity awards for the three months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $8.5 $8.6 Tax benefit recognized in Entergy’s net income $3.3 $3.3 Compensation cost capitalized as part of fixed assets and inventory $2.0 $1.8 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $25.4 $24.7 Tax benefit recognized in Entergy’s net income $9.8 $9.5 Compensation cost capitalized as part of fixed assets and inventory $5.7 $4.9 |
Retirement And Other Postretire
Retirement And Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2016 | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Arkansas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Louisiana [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Mississippi [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy New Orleans [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Texas [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
System Energy [Member] | |
Retirement And Other Postretirement Benefits | RETIREMENT AND OTHER POSTRETIREMENT BENEFITS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Components of Qualified Net Pension Cost Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 Non-Qualified Net Pension Cost Entergy recognized $8 million and $4.5 million in pension cost for its non-qualified pension plans in the third quarters of 2016 and 2015 , respectively. Entergy recognized $16.5 million and $13.4 million in pension costs for its non-qualified pension plans for the nine months ended September 30, 2016 and 2015, respectively. Reflected in the pension cost for non-qualified pension plans in the third quarter of 2016 and for the nine months ended September 30, 2016 is a $3.7 million settlement charge related to the payment of lump sum benefits out of the plan. The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 Components of Net Other Postretirement Benefit Cost Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 Reclassification out of Accumulated Other Comprehensive Income (Loss) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) Employer Contributions Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Business Segment Information | BUSINESS SEGMENT INFORMATION (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Entergy Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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 Corporation Entergy’s reportable segments as of September 30, 2016 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 for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. 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. |
Risk Management And Fair Values
Risk Management And Fair Values | 9 Months Ended |
Sep. 30, 2016 | |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
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 is currently hedging the variability in future cash flows with derivatives for forecasted power transactions at September 30, 2016 is approximately 2.25 years. Planned generation currently under contract from Entergy Wholesale Commodities nuclear power plants is 90% for the remainder of 2016 , of which approximately 61% is sold under financial derivatives and the remainder under normal purchase/normal sale contracts. Total planned generation for the remainder of 2016 is 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 September 30, 2016 , there were no derivative contracts with counterparties in a liability position. In addition to the corporate guarantee, $4 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties. As of September 30, 2016, $4 million in cash collateral and letters of credit in the amount of $49 million were required to be posted by its counterparties to the Entergy subsidiary. As of December 31, 2015 , derivative contracts with two counterparties were in a liability position (approximately $2 million total). As of December 31, 2015, $9 million in cash collateral was required to be posted by the Entergy subsidiary to its counterparties and $68 million was required to be posted by its counterparties to the Entergy subsidiary. If the Entergy Corporation credit rating falls below investment grade, the effect of the corporate guarantee is typically ignored and 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 September 30, 2016 is 25,604,000 MMBtu for Entergy, including 18,780,000 MMBtu for Entergy Louisiana, 5,750,000 MMBtu for Entergy Mississippi, and 1,074,000 MMBtu for Entergy New Orleans. Credit support for these natural gas swaps is covered by master agreements that do not require collateralization based on mark-to-market value, but do carry adequate assurance language that may lead to collateralization requests. During the second quarter 2016, Entergy participated in the annual FTR auction process for the MISO planning year of June 1, 2016 through May 31, 2017. FTRs 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 FTRs 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 FTRs 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 FTRs. The total volume of FTRs outstanding as of September 30, 2016 is 74,491 GWh for Entergy, including 16,859 GWh for Entergy Arkansas, 31,476 GWh for Entergy Louisiana, 12,374 GWh for Entergy Mississippi, 3,640 GWh for Entergy New Orleans, and 9,745 GWh for Entergy Texas. Credit support for FTRs 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 FTRs held by Entergy Wholesale Commodities is covered by cash. No cash or letters of credit were required to be posted for FTR exposure for the Utility operating companies or Entergy Wholesale Commodities as of September 30, 2016 and December 31, 2015, respectively. The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility (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 Consolidated Balance Sheets (d) Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 business operating revenues. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the three months ended September 30, 2016 and 2015 was $6.4 million and ($0.9) million , respectively. The change in fair value of Entergy’s cash flow hedges due to ineffectiveness during the nine months ended September 30, 2016 and 2015 was $6.1 million and $0.1 million , respectively. Based on market prices as of September 30, 2016 , net unrealized gains recorded in AOCI on cash flow hedges relating to power sales totaled $85 million . Approximately $66 million is expected to be reclassified from AOCI to operating revenues in the next twelve months. The actual amount reclassified from AOCI, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI 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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs 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. Effective first quarter 2016, Entergy retrospectively adopted ASU 2015-07, which simplifies the disclosure for fair value investments by removing the requirement to categorize within the fair value hierarchy investment for which fair value is measured using the net asset value per share as a practical expedient. For all periods presented the common trust funds have not been assigned a level and are presented within the fair value tables only as a reconciling item to the total fair value of investments. 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 FTRs 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 uses multiple 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 e |
Decommissioning Trust Funds
Decommissioning Trust Funds | 9 Months Ended |
Sep. 30, 2016 | |
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 and 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 9 to the financial statements in the Form 10-K, when Entergy purchased the Indian Point 3 and FitzPatrick plants in 2000 from NYPA, NYPA retained the decommissioning trusts 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 of $1.5 billion for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At September 30, 2016, the fair value of the decommissioning trust funds held by NYPA was $1.5 billion . The fair value is based on the trust statements received from NYPA and is valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value hierarchy. The receivables for the beneficial interests in the decommissioning trust funds are recorded in other deferred debits on the consolidated balance sheet. 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 has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available-for-sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $3,380 $1,568 $1 Debt Securities 2,291 94 2 Total $5,671 $1,662 $3 Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2015 Equity Securities $3,195 $1,396 $2 Debt Securities 2,155 41 17 Total $5,350 $1,437 $19 Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income 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 $400 million and $342 million as of September 30, 2016 and December 31, 2015 , respectively. The amortized cost of debt securities was $2,199 million as of September 30, 2016 and $2,124 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.19% , an average duration of approximately 5.96 years, and an average maturity of approximately 9.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $13 $1 $266 $1 More than 12 months — — 23 1 Total $13 $1 $289 $2 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $54 $2 $1,031 $15 More than 12 months 1 — 61 2 Total $55 $2 $1,092 $17 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $102 $77 1 year - 5 years 812 857 5 years - 10 years 743 704 10 years - 15 years 128 124 15 years - 20 years 62 50 20 years+ 444 343 Total $2,291 $2,155 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $564 million and $539 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $6 million and $13 million , respectively, and gross losses of $1 million and $4 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $1,797 million and $1,488 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $26 million and $58 million , respectively, and gross losses of $6 million and $7 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $504.9 $263.4 $— Debt Securities 318.9 10.8 0.3 Total $823.8 $274.2 $0.3 2015 Equity Securities $467.4 $234.4 $0.2 Debt Securities 303.9 4.1 2.2 Total $771.3 $238.5 $2.4 The amortized cost of debt securities was $308.4 million as of September 30, 2016 and $301.8 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 2.63% , an average duration of approximately 5.21 years, and an average maturity of approximately 5.97 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.9 $— $32.5 $0.3 More than 12 months — — — — Total $0.9 $— $32.5 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $7.8 $0.2 $111.4 $1.7 More than 12 months — — 18.5 0.5 Total $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $8.8 $1.8 1 year - 5 years 123.5 145.2 5 years - 10 years 166.1 138.5 10 years - 15 years 9.5 2.4 15 years - 20 years 1.1 2.0 20 years+ 9.9 14.0 Total $318.9 $303.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $61.2 million and $44 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.4 million , respectively, and gross losses of $0.04 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $165 million and $190.8 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $1.6 million and $5.8 million , respectively, and gross losses of $0.3 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $684.7 $322.9 $— Debt Securities 440.1 21.4 0.4 Total $1,124.8 $344.3 $0.4 2015 Equity Securities $632.4 $283.7 $0.2 Debt Securities 409.9 13.2 2.4 Total $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $419.2 million as of September 30, 2016 and $399.2 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.83% , an average duration of approximately 5.72 years, and an average maturity of approximately 11.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $2.3 $— $32.5 $0.2 More than 12 months — — 6.5 0.2 Total $2.3 $— $39.0 $0.4 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $9.4 $0.2 $124.0 $2.0 More than 12 months — — 7.4 0.4 Total $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $25.0 $27.1 1 year - 5 years 102.3 124.0 5 years - 10 years 121.5 114.3 10 years - 15 years 51.0 39.3 15 years - 20 years 31.1 26.5 20 years+ 109.2 78.7 Total $440.1 $409.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $54.7 million and $28.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.2 million , respectively, and gross losses of $0.1 million and $0.1 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $178.2 million and $93.6 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3 million and $1.7 million , respectively, and gross losses of $0.2 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $456.3 $205.5 $0.1 Debt Securities 308.6 6.7 0.3 Total $764.9 $212.2 $0.4 2015 Equity Securities $423.7 $179.2 $0.3 Debt Securities 277.8 2.2 2.3 Total $701.5 $181.4 $2.6 The amortized cost of debt securities was $302.3 million as of September 30, 2016 and $270.7 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 1.79% , an average duration of approximately 5.18 years, and an average maturity of approximately 6.32 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.8 $— $81.4 $0.2 More than 12 months — 0.1 1.0 0.1 Total $0.8 $0.1 $82.4 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8.3 $0.2 $200.4 $2.2 More than 12 months 0.9 0.1 5.0 0.1 Total $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $3.0 $2.0 1 year - 5 years 192.6 181.2 5 years - 10 years 76.2 63.0 10 years - 15 years 3.5 4.4 15 years - 20 years 1.5 1.6 20 years+ 31.8 25.6 Total $308.6 $277.8 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $103.5 million and $163.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.7 million and $2.4 million , respectively, and gross losses of $0.06 million and $0.2 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $392.9 million and $325.4 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3.2 million and $3.2 million , respectively, and gross losses of $0.4 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy evaluate 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 three and nine months ended September 30, 2016 and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not have any material charges relating to other-than-temporary impairment of certain equity securities for the three and nine months ended September 30, 2016 and 2015 . |
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 and 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 9 to the financial statements in the Form 10-K, when Entergy purchased the Indian Point 3 and FitzPatrick plants in 2000 from NYPA, NYPA retained the decommissioning trusts 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 of $1.5 billion for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At September 30, 2016, the fair value of the decommissioning trust funds held by NYPA was $1.5 billion . The fair value is based on the trust statements received from NYPA and is valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value hierarchy. The receivables for the beneficial interests in the decommissioning trust funds are recorded in other deferred debits on the consolidated balance sheet. 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 has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available-for-sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $3,380 $1,568 $1 Debt Securities 2,291 94 2 Total $5,671 $1,662 $3 Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2015 Equity Securities $3,195 $1,396 $2 Debt Securities 2,155 41 17 Total $5,350 $1,437 $19 Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income 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 $400 million and $342 million as of September 30, 2016 and December 31, 2015 , respectively. The amortized cost of debt securities was $2,199 million as of September 30, 2016 and $2,124 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.19% , an average duration of approximately 5.96 years, and an average maturity of approximately 9.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $13 $1 $266 $1 More than 12 months — — 23 1 Total $13 $1 $289 $2 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $54 $2 $1,031 $15 More than 12 months 1 — 61 2 Total $55 $2 $1,092 $17 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $102 $77 1 year - 5 years 812 857 5 years - 10 years 743 704 10 years - 15 years 128 124 15 years - 20 years 62 50 20 years+ 444 343 Total $2,291 $2,155 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $564 million and $539 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $6 million and $13 million , respectively, and gross losses of $1 million and $4 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $1,797 million and $1,488 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $26 million and $58 million , respectively, and gross losses of $6 million and $7 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $504.9 $263.4 $— Debt Securities 318.9 10.8 0.3 Total $823.8 $274.2 $0.3 2015 Equity Securities $467.4 $234.4 $0.2 Debt Securities 303.9 4.1 2.2 Total $771.3 $238.5 $2.4 The amortized cost of debt securities was $308.4 million as of September 30, 2016 and $301.8 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 2.63% , an average duration of approximately 5.21 years, and an average maturity of approximately 5.97 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.9 $— $32.5 $0.3 More than 12 months — — — — Total $0.9 $— $32.5 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $7.8 $0.2 $111.4 $1.7 More than 12 months — — 18.5 0.5 Total $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $8.8 $1.8 1 year - 5 years 123.5 145.2 5 years - 10 years 166.1 138.5 10 years - 15 years 9.5 2.4 15 years - 20 years 1.1 2.0 20 years+ 9.9 14.0 Total $318.9 $303.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $61.2 million and $44 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.4 million , respectively, and gross losses of $0.04 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $165 million and $190.8 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $1.6 million and $5.8 million , respectively, and gross losses of $0.3 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $684.7 $322.9 $— Debt Securities 440.1 21.4 0.4 Total $1,124.8 $344.3 $0.4 2015 Equity Securities $632.4 $283.7 $0.2 Debt Securities 409.9 13.2 2.4 Total $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $419.2 million as of September 30, 2016 and $399.2 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.83% , an average duration of approximately 5.72 years, and an average maturity of approximately 11.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $2.3 $— $32.5 $0.2 More than 12 months — — 6.5 0.2 Total $2.3 $— $39.0 $0.4 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $9.4 $0.2 $124.0 $2.0 More than 12 months — — 7.4 0.4 Total $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $25.0 $27.1 1 year - 5 years 102.3 124.0 5 years - 10 years 121.5 114.3 10 years - 15 years 51.0 39.3 15 years - 20 years 31.1 26.5 20 years+ 109.2 78.7 Total $440.1 $409.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $54.7 million and $28.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.2 million , respectively, and gross losses of $0.1 million and $0.1 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $178.2 million and $93.6 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3 million and $1.7 million , respectively, and gross losses of $0.2 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $456.3 $205.5 $0.1 Debt Securities 308.6 6.7 0.3 Total $764.9 $212.2 $0.4 2015 Equity Securities $423.7 $179.2 $0.3 Debt Securities 277.8 2.2 2.3 Total $701.5 $181.4 $2.6 The amortized cost of debt securities was $302.3 million as of September 30, 2016 and $270.7 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 1.79% , an average duration of approximately 5.18 years, and an average maturity of approximately 6.32 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.8 $— $81.4 $0.2 More than 12 months — 0.1 1.0 0.1 Total $0.8 $0.1 $82.4 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8.3 $0.2 $200.4 $2.2 More than 12 months 0.9 0.1 5.0 0.1 Total $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $3.0 $2.0 1 year - 5 years 192.6 181.2 5 years - 10 years 76.2 63.0 10 years - 15 years 3.5 4.4 15 years - 20 years 1.5 1.6 20 years+ 31.8 25.6 Total $308.6 $277.8 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $103.5 million and $163.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.7 million and $2.4 million , respectively, and gross losses of $0.06 million and $0.2 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $392.9 million and $325.4 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3.2 million and $3.2 million , respectively, and gross losses of $0.4 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy evaluate 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 three and nine months ended September 30, 2016 and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not have any material charges relating to other-than-temporary impairment of certain equity securities for the three and nine months ended September 30, 2016 and 2015 . |
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 and 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 9 to the financial statements in the Form 10-K, when Entergy purchased the Indian Point 3 and FitzPatrick plants in 2000 from NYPA, NYPA retained the decommissioning trusts 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 of $1.5 billion for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At September 30, 2016, the fair value of the decommissioning trust funds held by NYPA was $1.5 billion . The fair value is based on the trust statements received from NYPA and is valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value hierarchy. The receivables for the beneficial interests in the decommissioning trust funds are recorded in other deferred debits on the consolidated balance sheet. 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 has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available-for-sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $3,380 $1,568 $1 Debt Securities 2,291 94 2 Total $5,671 $1,662 $3 Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2015 Equity Securities $3,195 $1,396 $2 Debt Securities 2,155 41 17 Total $5,350 $1,437 $19 Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income 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 $400 million and $342 million as of September 30, 2016 and December 31, 2015 , respectively. The amortized cost of debt securities was $2,199 million as of September 30, 2016 and $2,124 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.19% , an average duration of approximately 5.96 years, and an average maturity of approximately 9.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $13 $1 $266 $1 More than 12 months — — 23 1 Total $13 $1 $289 $2 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $54 $2 $1,031 $15 More than 12 months 1 — 61 2 Total $55 $2 $1,092 $17 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $102 $77 1 year - 5 years 812 857 5 years - 10 years 743 704 10 years - 15 years 128 124 15 years - 20 years 62 50 20 years+ 444 343 Total $2,291 $2,155 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $564 million and $539 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $6 million and $13 million , respectively, and gross losses of $1 million and $4 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $1,797 million and $1,488 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $26 million and $58 million , respectively, and gross losses of $6 million and $7 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $504.9 $263.4 $— Debt Securities 318.9 10.8 0.3 Total $823.8 $274.2 $0.3 2015 Equity Securities $467.4 $234.4 $0.2 Debt Securities 303.9 4.1 2.2 Total $771.3 $238.5 $2.4 The amortized cost of debt securities was $308.4 million as of September 30, 2016 and $301.8 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 2.63% , an average duration of approximately 5.21 years, and an average maturity of approximately 5.97 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.9 $— $32.5 $0.3 More than 12 months — — — — Total $0.9 $— $32.5 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $7.8 $0.2 $111.4 $1.7 More than 12 months — — 18.5 0.5 Total $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $8.8 $1.8 1 year - 5 years 123.5 145.2 5 years - 10 years 166.1 138.5 10 years - 15 years 9.5 2.4 15 years - 20 years 1.1 2.0 20 years+ 9.9 14.0 Total $318.9 $303.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $61.2 million and $44 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.4 million , respectively, and gross losses of $0.04 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $165 million and $190.8 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $1.6 million and $5.8 million , respectively, and gross losses of $0.3 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $684.7 $322.9 $— Debt Securities 440.1 21.4 0.4 Total $1,124.8 $344.3 $0.4 2015 Equity Securities $632.4 $283.7 $0.2 Debt Securities 409.9 13.2 2.4 Total $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $419.2 million as of September 30, 2016 and $399.2 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.83% , an average duration of approximately 5.72 years, and an average maturity of approximately 11.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $2.3 $— $32.5 $0.2 More than 12 months — — 6.5 0.2 Total $2.3 $— $39.0 $0.4 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $9.4 $0.2 $124.0 $2.0 More than 12 months — — 7.4 0.4 Total $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $25.0 $27.1 1 year - 5 years 102.3 124.0 5 years - 10 years 121.5 114.3 10 years - 15 years 51.0 39.3 15 years - 20 years 31.1 26.5 20 years+ 109.2 78.7 Total $440.1 $409.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $54.7 million and $28.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.2 million , respectively, and gross losses of $0.1 million and $0.1 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $178.2 million and $93.6 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3 million and $1.7 million , respectively, and gross losses of $0.2 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $456.3 $205.5 $0.1 Debt Securities 308.6 6.7 0.3 Total $764.9 $212.2 $0.4 2015 Equity Securities $423.7 $179.2 $0.3 Debt Securities 277.8 2.2 2.3 Total $701.5 $181.4 $2.6 The amortized cost of debt securities was $302.3 million as of September 30, 2016 and $270.7 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 1.79% , an average duration of approximately 5.18 years, and an average maturity of approximately 6.32 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.8 $— $81.4 $0.2 More than 12 months — 0.1 1.0 0.1 Total $0.8 $0.1 $82.4 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8.3 $0.2 $200.4 $2.2 More than 12 months 0.9 0.1 5.0 0.1 Total $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $3.0 $2.0 1 year - 5 years 192.6 181.2 5 years - 10 years 76.2 63.0 10 years - 15 years 3.5 4.4 15 years - 20 years 1.5 1.6 20 years+ 31.8 25.6 Total $308.6 $277.8 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $103.5 million and $163.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.7 million and $2.4 million , respectively, and gross losses of $0.06 million and $0.2 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $392.9 million and $325.4 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3.2 million and $3.2 million , respectively, and gross losses of $0.4 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy evaluate 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 three and nine months ended September 30, 2016 and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not have any material charges relating to other-than-temporary impairment of certain equity securities for the three and nine months ended September 30, 2016 and 2015 . |
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 and 2, Vermont Yankee, and Palisades. The funds are invested primarily in equity securities, fixed-rate debt securities, and cash and cash equivalents. As discussed in Note 9 to the financial statements in the Form 10-K, when Entergy purchased the Indian Point 3 and FitzPatrick plants in 2000 from NYPA, NYPA retained the decommissioning trusts 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 of $1.5 billion for the beneficial interests in the decommissioning trust funds and recorded asset retirement obligations for the decommissioning liabilities. At September 30, 2016, the fair value of the decommissioning trust funds held by NYPA was $1.5 billion . The fair value is based on the trust statements received from NYPA and is valued by the fund administrator using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value hierarchy. The receivables for the beneficial interests in the decommissioning trust funds are recorded in other deferred debits on the consolidated balance sheet. 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 has recorded an offsetting amount of unrealized gains/(losses) in other deferred credits. Decommissioning trust funds for Pilgrim, Indian Point 1 and 2, Vermont Yankee, and Palisades do not meet the criteria for regulatory accounting treatment. Accordingly, unrealized gains recorded on the assets in these trust funds are recognized in the accumulated other comprehensive income component of shareholders’ equity because these assets are classified as available-for-sale. Unrealized losses (where cost exceeds fair market value) on the assets in these trust funds are also recorded in the accumulated other comprehensive income component of shareholders’ equity unless the unrealized loss is other-than-temporary and therefore recorded in earnings. 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $3,380 $1,568 $1 Debt Securities 2,291 94 2 Total $5,671 $1,662 $3 Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2015 Equity Securities $3,195 $1,396 $2 Debt Securities 2,155 41 17 Total $5,350 $1,437 $19 Deferred taxes on unrealized gains/(losses) are recorded in other comprehensive income 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 $400 million and $342 million as of September 30, 2016 and December 31, 2015 , respectively. The amortized cost of debt securities was $2,199 million as of September 30, 2016 and $2,124 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.19% , an average duration of approximately 5.96 years, and an average maturity of approximately 9.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $13 $1 $266 $1 More than 12 months — — 23 1 Total $13 $1 $289 $2 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $54 $2 $1,031 $15 More than 12 months 1 — 61 2 Total $55 $2 $1,092 $17 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $102 $77 1 year - 5 years 812 857 5 years - 10 years 743 704 10 years - 15 years 128 124 15 years - 20 years 62 50 20 years+ 444 343 Total $2,291 $2,155 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $564 million and $539 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $6 million and $13 million , respectively, and gross losses of $1 million and $4 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $1,797 million and $1,488 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $26 million and $58 million , respectively, and gross losses of $6 million and $7 million , respectively, were reclassified out of other comprehensive income or other regulatory liabilities/assets 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $504.9 $263.4 $— Debt Securities 318.9 10.8 0.3 Total $823.8 $274.2 $0.3 2015 Equity Securities $467.4 $234.4 $0.2 Debt Securities 303.9 4.1 2.2 Total $771.3 $238.5 $2.4 The amortized cost of debt securities was $308.4 million as of September 30, 2016 and $301.8 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 2.63% , an average duration of approximately 5.21 years, and an average maturity of approximately 5.97 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.9 $— $32.5 $0.3 More than 12 months — — — — Total $0.9 $— $32.5 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $7.8 $0.2 $111.4 $1.7 More than 12 months — — 18.5 0.5 Total $7.8 $0.2 $129.9 $2.2 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $8.8 $1.8 1 year - 5 years 123.5 145.2 5 years - 10 years 166.1 138.5 10 years - 15 years 9.5 2.4 15 years - 20 years 1.1 2.0 20 years+ 9.9 14.0 Total $318.9 $303.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $61.2 million and $44 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.4 million , respectively, and gross losses of $0.04 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $165 million and $190.8 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $1.6 million and $5.8 million , respectively, and gross losses of $0.3 million and $0.1 million , respectively were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $684.7 $322.9 $— Debt Securities 440.1 21.4 0.4 Total $1,124.8 $344.3 $0.4 2015 Equity Securities $632.4 $283.7 $0.2 Debt Securities 409.9 13.2 2.4 Total $1,042.3 $296.9 $2.6 The amortized cost of debt securities was $419.2 million as of September 30, 2016 and $399.2 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 3.83% , an average duration of approximately 5.72 years, and an average maturity of approximately 11.39 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $2.3 $— $32.5 $0.2 More than 12 months — — 6.5 0.2 Total $2.3 $— $39.0 $0.4 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $9.4 $0.2 $124.0 $2.0 More than 12 months — — 7.4 0.4 Total $9.4 $0.2 $131.4 $2.4 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $25.0 $27.1 1 year - 5 years 102.3 124.0 5 years - 10 years 121.5 114.3 10 years - 15 years 51.0 39.3 15 years - 20 years 31.1 26.5 20 years+ 109.2 78.7 Total $440.1 $409.9 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $54.7 million and $28.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.4 million and $0.2 million , respectively, and gross losses of $0.1 million and $0.1 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $178.2 million and $93.6 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3 million and $1.7 million , respectively, and gross losses of $0.2 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into 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 September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $456.3 $205.5 $0.1 Debt Securities 308.6 6.7 0.3 Total $764.9 $212.2 $0.4 2015 Equity Securities $423.7 $179.2 $0.3 Debt Securities 277.8 2.2 2.3 Total $701.5 $181.4 $2.6 The amortized cost of debt securities was $302.3 million as of September 30, 2016 and $270.7 million as of December 31, 2015 . As of September 30, 2016 , the debt securities have an average coupon rate of approximately 1.79% , an average duration of approximately 5.18 years, and an average maturity of approximately 6.32 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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.8 $— $81.4 $0.2 More than 12 months — 0.1 1.0 0.1 Total $0.8 $0.1 $82.4 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8.3 $0.2 $200.4 $2.2 More than 12 months 0.9 0.1 5.0 0.1 Total $9.2 $0.3 $205.4 $2.3 The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $3.0 $2.0 1 year - 5 years 192.6 181.2 5 years - 10 years 76.2 63.0 10 years - 15 years 3.5 4.4 15 years - 20 years 1.5 1.6 20 years+ 31.8 25.6 Total $308.6 $277.8 During the three months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $103.5 million and $163.4 million , respectively. During the three months ended September 30, 2016 and 2015 , gross gains of $0.7 million and $2.4 million , respectively, and gross losses of $0.06 million and $0.2 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. During the nine months ended September 30, 2016 and 2015 , proceeds from the dispositions of securities amounted to $392.9 million and $325.4 million , respectively. During the nine months ended September 30, 2016 and 2015 , gross gains of $3.2 million and $3.2 million , respectively, and gross losses of $0.4 million and $0.3 million , respectively, were reclassified out of other regulatory liabilities/assets into earnings. Other-than-temporary impairments and unrealized gains and losses Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy evaluate 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 three and nine months ended September 30, 2016 and 2015 . The assessment of whether an investment in an equity security has suffered an other-than-temporary impairment continues to be based on a number of factors including, first, whether Entergy has the ability and intent to hold the investment to recover its value, the duration and severity of any losses, and, then, whether it is expected that the investment will recover its value within a reasonable period of time. Entergy’s trusts are managed by third parties who operate in accordance with agreements that define investment guidelines and place restrictions on the purchases and sales of investments. Entergy did not have any material charges relating to other-than-temporary impairment of certain equity securities for the three and nine months ended September 30, 2016 and 2015 . |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2016 | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Entergy Arkansas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Entergy Louisiana [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Entergy Mississippi [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Entergy New Orleans [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Entergy Texas [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
System Energy [Member] | |
Income Taxes | INCOME TAXES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See “ Income Tax Litigation ,” “ Income Tax Audits ,” and “ Other Tax Matters ” in Note 3 to the financial statements in the Form 10-K for a discussion of income tax proceedings, income tax audits, and other income tax matters involving Entergy. The following are updates to that discussion. 2010-2011 IRS Audit The IRS has completed its examination of the 2010 and 2011 tax years and issued its 2010-2011 Revenue Agent Report (RAR) in June 2016. Entergy has 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 . The settlement of the above-described items, along with other minor recorded adjustments, decreased Entergy Louisiana’s balance of unrecognized tax benefits from $796.9 million as of December 31, 2015 to $564.7 million as of June 30, 2016, net of carryovers for losses and credits. The unrecognized tax benefits were settled primarily through utilization of net operating loss carryovers. Other Tax Matters Entergy made a tax election to treat its subsidiary that owns one of the Entergy Wholesale Commodities nuclear power plants as a corporation for federal income tax purposes. This resulted in a constructive contribution of all the assets and liabilities associated with the plant to a new subsidiary corporation for federal income tax purposes, and generated both permanent and temporary differences under the income tax accounting standards. The constructive contribution required Entergy to recognize the plant’s nuclear decommissioning liability for income tax purposes resulting in permanent differences. The accrual of the nuclear decommissioning liability required Entergy to recognize a gain for income tax purposes, a significant portion of which resulted in an increase in tax basis of the assets constructively contributed to the subsidiary. Recognition of the gain and the increase in tax basis of the assets represents a temporary difference. The permanent difference reduced income tax expense, net of unrecognized tax benefits, by $238 million . |
Property, Plant, And Equipment
Property, Plant, And Equipment | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Entergy Arkansas [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Entergy Louisiana [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Entergy Mississippi [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Entergy New Orleans [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Entergy Texas [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
System Energy [Member] | |
Property, Plant And Equipment | PROPERTY, PLANT, AND EQUIPMENT (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) Construction Expenditures in Accounts Payable Construction expenditures included in accounts payable at September 30, 2016 are $175.8 million for Entergy, $21.7 million for Entergy Arkansas, $75.5 million for Entergy Louisiana, $4.5 million for Entergy Mississippi, $1 million for Entergy New Orleans, $8 million for Entergy Texas, and $12.7 million for System Energy. Construction expenditures included in accounts payable at December 31, 2015 are $234 million for Entergy, $43 million for Entergy Arkansas, $68.6 million for Entergy Louisiana, $11.4 million for Entergy Mississippi, $1.5 million for Entergy New Orleans, $33.1 million for Entergy Texas, and $6.8 million for System Energy. Waterford 3 Transaction See Note 10 to the financial statements in the Form 10-K for a discussion of the Waterford 3 lease obligation. In December 2015, Entergy Louisiana agreed to purchase the undivided interests in Waterford 3 that were previously being leased. 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 will continue to make payments on the lessor debt that remains outstanding. The combination of payments on the $52 million collateral trust mortgage note issued and the debt service on the lessor debt will be 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. |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2016 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
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) See Note 18 to the financial statements in the Form 10-K for a discussion of variable interest entities. See Note 4 to the financial statements herein for details of the nuclear fuel companies’ credit facilities and commercial paper borrowings and long-term debt. Entergy Louisiana was considered to hold a variable interest in the lessor from which it leased an undivided interest representing approximately 9.3% of 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 $7.8 million in the three months ended September 30, 2016 and $7.8 million in the three months ended September 30, 2015 . Entergy Louisiana made payments on its lease, including interest, of $16.9 million in the nine months ended September 30, 2016 and $28.8 million in the nine months ended September 30, 2015 . See Note 11 to the financial statements herein for a discussion of Entergy Louisiana’s purchase of a beneficial interest in the Waterford 3 leased assets. System Energy is considered to hold a variable interest in the lessor from which it leases an undivided interest representing approximately 11.5% of 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 in the Form 10-K. System Energy made payments on its lease, including interest, of $8.6 million in the three months ended September 30, 2016 and $14.6 million in the three months ended September 30, 2015 . System Energy made payments on its lease, including interest, of $17.2 million in the nine months ended September 30, 2016 and $52.3 million in the nine months ended September 30, 2015 . |
Acquisitions Acquisitions
Acquisitions Acquisitions | 9 Months Ended |
Sep. 30, 2016 | |
Business Acquisition [Line Items] | |
Acquisitions [Text Block] | ACQUISITIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) 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) |
Entergy Arkansas [Member] | |
Business Acquisition [Line Items] | |
Acquisitions [Text Block] | ACQUISITIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) 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). |
Entergy Louisiana [Member] | |
Business Acquisition [Line Items] | |
Acquisitions [Text Block] | ACQUISITIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) 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). |
Entergy New Orleans [Member] | |
Business Acquisition [Line Items] | |
Acquisitions [Text Block] | ACQUISITIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, and Entergy New Orleans) 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). |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2016 | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Entergy Arkansas [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Entergy Louisiana [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Entergy Mississippi [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Entergy New Orleans [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Entergy Texas [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
System Energy [Member] | |
Asset Retirement Obligation Disclosure [Text Block] | ASSET RETIREMENT OBLIGATIONS (Entergy Corporation, Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, Entergy Texas, and System Energy) See Note 9 to the financial statements in the Form 10-K for a discussion of asset retirement obligations. Following are updates to that discussion. Entergy expects that amounts available in Vermont Yankee’s decommissioning trust fund, including expected earnings, together with the credit facilities entered into in January 2015 that are expected to be repaid with recoveries from DOE litigation related to spent fuel storage, will be sufficient to cover Vermont Yankee’s expected costs of decommissioning, spent fuel management costs, and site restoration. 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 the credit facilities. 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. If that petition were to result in a final decision denying Vermont Yankee the exemption allowing the use of its decommissioning trust fund to pay for these spent fuel management costs, Vermont Yankee would have to satisfy the NRC that it had a plan to obtain additional funds to enable it to pay for these costs until the federal government takes possession of the fuel and removes it from the site. 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 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. See Note 1 to the financial statements in the Form 10-K for further discussion regarding the Vermont Yankee plant. For the Indian Point 3 and FitzPatrick plants purchased in 2000 from NYPA, NYPA retained the decommissioning trusts and the decommissioning liabilities. NYPA and Entergy subsidiaries executed decommissioning agreements, which specified their decommissioning obligations. NYPA has the right to require the Entergy subsidiaries to assume each of the decommissioning liabilities provided that it assigns 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 trusts. 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 trusts and decommissioning liabilities for the Indian Point 3 and FitzPatrick plants to Entergy. The transaction is contingent upon receiving approval from the NRC. 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 decommissioning and asset retirement cost liabilities on the consolidated balance sheet increased from $4,790 million at December 31, 2015 to $6,101 million at September 30, 2016 primarily due to recording the Indian Point 3 and FitzPatrick asset retirement obligations as a result of the agreement with NYPA. |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Schedule Of Earnings Per Share Basic And Diluted | The following table presents Entergy’s basic and diluted earnings (loss) per share calculations included on the consolidated statements of operations: For the Three Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $388.2 179.0 $2.17 ($723.0 ) 179.2 ($4.04 ) Average dilutive effect of: Stock options 0.3 — — — Other equity plans 0.7 (0.01 ) — — Diluted earnings (loss) per share $388.2 180.0 $2.16 ($723.0 ) 179.2 ($4.04 ) The number of stock options not included in the calculation of diluted common shares outstanding due to their antidilutive effect was approximately 3.5 million for the three months ended September 30, 2016 and approximately 7.4 million for the three months ended September 30, 2015 . For the Nine Months Ended September 30, 2016 2015 (In Millions, Except Per Share Data) Basic earnings (loss) per share Income Shares $/share Loss Shares $/share Net income (loss) attributable to Entergy Corporation $1,185.4 178.8 $6.63 ($276.1 ) 179.4 ($1.54 ) Average dilutive effect of: Stock options 0.2 (0.01 ) — — Other equity plans 0.5 (0.02 ) — — Diluted earnings (loss) per share $1,185.4 179.5 $6.60 ($276.1 ) 179.4 ($1.54 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) | 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 three months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2016 $32,423 ($453,999 ) $411,581 $840 ($9,155 ) Other comprehensive income (loss) before reclassifications 45,162 — 23,039 (92 ) 68,109 Amounts reclassified from accumulated other comprehensive income (loss) (24,190 ) 5,044 (1,672 ) — (20,818 ) Net other comprehensive income (loss) for the period 20,972 5,044 21,367 (92 ) 47,291 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the three months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, July 1, 2015 $107,484 ($553,903 ) $396,818 $2,785 ($46,816 ) Other comprehensive income (loss) before reclassifications 31,620 — (50,760 ) (469 ) (19,609 ) Amounts reclassified from accumulated other comprehensive income (loss) (55,604 ) 7,437 (3,206 ) — (51,373 ) Net other comprehensive income (loss) for the period (23,984 ) 7,437 (53,966 ) (469 ) (70,982 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2016 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2016 $105,970 ($466,604 ) $367,557 $2,028 $8,951 Other comprehensive income (loss) before reclassifications 101,071 — 72,087 (1,280 ) 171,878 Amounts reclassified from accumulated other comprehensive income (loss) (153,646 ) 17,649 (6,696 ) — (142,693 ) Net other comprehensive income (loss) for the period (52,575 ) 17,649 65,391 (1,280 ) 29,185 Ending balance, September 30, 2016 $53,395 ($448,955 ) $432,948 $748 $38,136 The following table presents changes in accumulated other comprehensive income (loss) for Entergy for the nine months ended September 30, 2015 by component: Cash flow hedges net unrealized gain (loss) Pension and other postretirement liabilities Net unrealized investment gain (loss) Foreign currency translation Total Accumulated Other Comprehensive Income (Loss) (In Thousands) Beginning balance, January 1, 2015 $98,118 ($569,789 ) $426,695 $2,669 ($42,307 ) Other comprehensive income (loss) before reclassifications 99,520 13 (63,210 ) (353 ) 35,970 Amounts reclassified from accumulated other comprehensive income (loss) (114,138 ) 23,310 (20,633 ) — (111,461 ) Net other comprehensive income (loss) for the period (14,618 ) 23,323 (83,843 ) (353 ) (75,491 ) Ending balance, September 30, 2015 $83,500 ($546,466 ) $342,852 $2,316 ($117,798 ) |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2016 are as follows: Amounts reclassified from AOCI Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $37,550 Competitive business operating revenues Interest rate swaps (334 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 37,216 (13,026 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $24,190 Pension and other postretirement liabilities Amortization of prior-service credit $7,354 (a) Amortization of loss (15,183 ) (a) Settlement loss (1,279 ) (a) Total amortization (9,108 ) 4,064 Income taxes Total amortization (net of tax) ($5,044 ) Net unrealized investment gain (loss) Realized gain (loss) $3,279 Interest and investment income (1,607 ) Income taxes Total realized investment gain (loss) (net of tax) $1,672 Total reclassifications for the period (net of tax) $20,818 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the three months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $86,020 Competitive business operating revenues Interest rate swaps (477 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 85,543 (29,939 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $55,604 Pension and other postretirement liabilities Amortization of prior-service credit $5,985 (a) Amortization of loss (17,588 ) (a) Total amortization (11,603 ) 4,166 Income taxes Total amortization (net of tax) ($7,437 ) Net unrealized investment gain (loss) Realized gain (loss) $6,286 Interest and investment income (3,080 ) Income taxes Total realized investment gain (loss) (net of tax) $3,206 Total reclassifications for the period (net of tax) $51,373 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2016 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $237,483 Competitive business operating revenues Interest rate swaps (1,104 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 236,379 (82,733 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $153,646 Pension and other postretirement liabilities Amortization of prior-service credit $22,064 (a) Amortization of loss (45,535 ) (a) Settlement loss (1,279 ) (a) Total amortization (24,750 ) 7,101 Income taxes Total amortization (net of tax) ($17,649 ) Net unrealized investment gain (loss) Realized gain (loss) $13,129 Interest and investment income (6,433 ) Income taxes Total realized investment gain (loss) (net of tax) $6,696 Total reclassifications for the period (net of tax) $142,693 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy for the nine months ended September 30, 2015 are as follows: Amounts Income Statement Location (In Thousands) Cash flow hedges net unrealized gain (loss) Power contracts $177,129 Competitive business operating revenues Interest rate swaps (1,533 ) Miscellaneous - net Total realized gain (loss) on cash flow hedges 175,596 (61,458 ) Income taxes Total realized gain (loss) on cash flow hedges (net of tax) $114,138 Pension and other postretirement liabilities Amortization of prior-service credit $17,956 (a) Amortization of loss (52,764 ) (a) Total amortization (34,808 ) 11,498 Income taxes Total amortization (net of tax) ($23,310 ) Net unrealized investment gain (loss) Realized gain (loss) $40,457 Interest and investment income (19,824 ) Income taxes Total realized investment gain (loss) (net of tax) $20,633 Total reclassifications for the period (net of tax) $111,461 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Entergy Louisiana [Member] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance July 1, 2016 ($56,905 ) Amounts reclassified from accumulated other (232 ) Net other comprehensive income (loss) for the period (232 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the three months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance July 1, 2015 ($78,431 ) Amounts reclassified from accumulated other 412 Net other comprehensive income (loss) for the period 412 Ending balance, September 30, 2015 ($78,019 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2016 : Pension and Other (In Thousands) Beginning balance, January 1, 2016 ($56,412 ) Amounts reclassified from accumulated other (725 ) Net other comprehensive income (loss) for the period (725 ) Ending balance, September 30, 2016 ($57,137 ) The following table presents changes in accumulated other comprehensive income (loss) for Entergy Louisiana for the nine months ended September 30, 2015 : Pension and Other (In Thousands) Beginning balance, January 1, 2015 ($79,223 ) Amounts reclassified from accumulated other 1,204 Net other comprehensive income (loss) for the period 1,204 Ending balance, September 30, 2015 ($78,019 ) |
Reclassification out of Accumulated Other Comprehensive Income | Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,947 (a) Amortization of loss (1,570 ) (a) Total amortization 377 (145 ) Income taxes Total amortization (net of tax) 232 Total reclassifications for the period (net of tax) $232 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the three months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $1,866 (a) Amortization of loss (2,536 ) (a) Total amortization (670 ) 258 Income taxes Total amortization (net of tax) (412 ) Total reclassifications for the period (net of tax) ($412 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2016 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,841 (a) Amortization of loss (4,712 ) (a) Total amortization 1,129 (404 ) Income taxes Total amortization (net of tax) 725 Total reclassifications for the period (net of tax) $725 (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. Total reclassifications out of accumulated other comprehensive income (loss) (AOCI) for Entergy Louisiana for the nine months ended September 30, 2015 are as follows: Amounts reclassified Income Statement Location (In Thousands) Pension and other postretirement liabilities Amortization of prior-service credit $5,599 (a) Amortization of loss (7,606 ) (a) Total amortization (2,007 ) 803 Income taxes Total amortization (net of tax) (1,204 ) Total reclassifications for the period (net of tax) ($1,204 ) (a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement cost. See Note 6 to the financial statements herein for additional details. |
Revolving Credit Facilities, 25
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 September 30, 2016 . Capacity Borrowings Letters of Credit Capacity Available (In Millions) $3,500 $180 $6 $3,314 |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. |
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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Arkansas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. |
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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Louisiana [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. |
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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Mississippi [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
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 September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Entergy Texas [Member] | |
Credit Facilities | Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas each had credit facilities available as of September 30, 2016 as follows: Company Expiration Date Amount of Facility Interest Rate (a) Amount Drawn as of September 30, 2016 Letters of Credit Outstanding as of September 30, 2016 Entergy Arkansas April 2017 $20 million (b) 1.77% $— $— Entergy Arkansas August 2021 $150 million (c) 1.77% $— $— Entergy Louisiana August 2021 $350 million (d) 1.77% $— $6.4 million Entergy Mississippi May 2017 $37.5 million (e) 2.02% $— $— Entergy Mississippi May 2017 $35 million (e) 2.02% $— $— Entergy Mississippi May 2017 $20 million (e) 2.02% $— $— Entergy Mississippi May 2017 $10 million (e) 2.02% $— $— Entergy New Orleans November 2018 $25 million (f) 2.27% $— $0.8 million Entergy Texas August 2021 $150 million (g) 2.02% $— $4.7 million (a) The interest rate is the rate as of September 30, 2016 that would most likely apply to outstanding borrowings under the facility. (b) Borrowings under the Entergy Arkansas credit facility may be secured by a security interest in its accounts receivable at Entergy Arkansas’s option. (c) The credit facility allows Entergy Arkansas to issue letters of credit against 50% of the borrowing capacity of the facility. (d) The credit facility allows Entergy Louisiana to issue letters of credit against 50% of the borrowing capacity of the facility. (e) Borrowings under the Entergy Mississippi credit facilities may be secured by a security interest in its accounts receivable at Entergy Mississippi’s option. (f) The credit facility allows Entergy New Orleans to issue letters of credit against $10 million of the borrowing capacity of the facility. (g) The credit facility allows Entergy Texas to issue letters of credit against 50% of the borrowing capacity of the facility. |
Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations [Table Text Block] | Following is a summary of the uncommitted standby letter of credit facilities as of September 30, 2016 : Company Amount of Uncommitted Facility Letter of Credit Fee Letters of Credit Issued as of September 30, 2016 Entergy Arkansas $25 million 0.70% $1.0 million Entergy Louisiana $125 million 0.70% $16.4 million Entergy Mississippi $40 million 0.70% $10.2 million Entergy New Orleans $15 million 0.75% $12.9 million Entergy Texas $50 million 0.70% $16.0 million |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 System Energy $200 $— |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
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 September 30, 2016 (aggregating both money pool and external short-term borrowings) for the Registrant Subsidiaries: Authorized Borrowings (In Millions) Entergy Arkansas $250 $49 Entergy Louisiana $450 $— Entergy Mississippi $175 $— Entergy New Orleans $100 $— Entergy Texas $200 $12 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 September 30, 2016 : Company Expiration Date Amount of Facility Weighted Average Interest Rate on Borrowings (a) Amount Outstanding as of September 30, 2016 (Dollars in Millions) Entergy Arkansas VIE May 2019 $80 2.15% $47.4 (b) Entergy Louisiana River Bend VIE May 2019 $105 n/a $— Entergy Louisiana Waterford VIE May 2019 $85 2.14% $42.0 (b) System Energy VIE May 2019 $120 2.13% $80.0 (b) (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) Commercial paper, classified as a current liability. |
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 September 30, 2016 as follows: Company Description Amount Entergy Arkansas VIE 2.62% Series K due December 2017 $60 million Entergy Arkansas VIE 3.65% Series L due July 2021 $90 million Entergy Louisiana River Bend VIE 3.25% Series Q due July 2017 $75 million Entergy Louisiana River Bend VIE 3.38% Series R due August 2020 $70 million Entergy Louisiana Waterford VIE 3.25% Series G due July 2017 $25 million Entergy Louisiana Waterford VIE 3.92% Series H due February 2021 $40 million System Energy VIE 4.02% Series H due February 2017 $50 million System Energy VIE 3.78% Series I due October 2018 $85 million |
Book Value And The Fair Value Of Long-Term Debt | The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of September 30, 2016 are as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $14,611,903 $15,424,412 Entergy Arkansas $2,796,059 $2,791,291 Entergy Louisiana $5,407,897 $5,848,345 Entergy Mississippi $1,344,305 $1,409,719 Entergy New Orleans $459,295 $502,194 Entergy Texas $1,521,270 $1,683,655 System Energy $551,023 $543,933 (a) The values exclude lease obligations of $57 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $182 million at Entergy Arkansas, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. The book value and the fair value of long-term debt for Entergy Corporation and the Registrant Subsidiaries as of December 31, 2015 were as follows: Book Value of Long-Term Debt Fair Value of Long-Term Debt (a) (b) (In Thousands) Entergy $13,325,930 $13,578,511 Entergy Arkansas $2,629,839 $2,498,108 Entergy Louisiana $4,836,162 $5,018,786 Entergy Mississippi $1,045,085 $1,087,326 Entergy New Orleans $342,880 $351,040 Entergy Texas $1,451,967 $1,590,616 System Energy $572,667 $552,762 (a) The values exclude lease obligations of $109 million at Entergy Louisiana and $34 million at System Energy, long-term DOE obligations of $181 million at Entergy Arkansas, and the note payable to NYPA of $35 million at Entergy, and include debt due within one year. (b) Fair values are classified as Level 2 in the fair value hierarchy discussed in Note 8 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |
Financial Information For Stock Options | The following table includes financial information for outstanding stock options for the three months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $1.1 $1.1 Tax benefit recognized in Entergy’s net income $0.5 $0.4 Compensation cost capitalized as part of fixed assets and inventory $0.2 $0.1 The following table includes financial information for outstanding stock options for the nine months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $3.3 $3.2 Tax benefit recognized in Entergy’s net income $1.3 $1.2 Compensation cost capitalized as part of fixed assets and inventory $0.6 $0.5 |
Financial Information For Restricted Stock | The following table includes financial information for other outstanding equity awards for the three months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $8.5 $8.6 Tax benefit recognized in Entergy’s net income $3.3 $3.3 Compensation cost capitalized as part of fixed assets and inventory $2.0 $1.8 The following table includes financial information for other outstanding equity awards for the nine months ended September 30, 2016 and 2015 : 2016 2015 (In Millions) Compensation expense included in Entergy’s net income $25.4 $24.7 Tax benefit recognized in Entergy’s net income $9.8 $9.5 Compensation cost capitalized as part of fixed assets and inventory $5.7 $4.9 |
Retirement And Other Postreti27
Retirement And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |
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) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) |
Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy’s qualified pension cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $35,811 $43,762 Interest cost on projected benefit obligation 65,403 75,694 Expected return on assets (97,366 ) (98,655 ) Amortization of prior service cost 270 390 Amortization of loss 48,824 58,981 Net pension costs $52,942 $80,172 Entergy’s qualified pension cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $107,433 $131,286 Interest cost on projected benefit obligation 196,209 227,082 Expected return on assets (292,098 ) (295,965 ) Amortization of prior service cost 810 1,170 Amortization of loss 146,472 176,943 Special termination benefit — 76 Net pension costs $158,826 $240,592 |
Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | Entergy’s other postretirement benefit cost, including amounts capitalized, for the third quarters of 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $8,073 $11,326 Interest cost on accumulated postretirement benefit obligation (APBO) 14,083 17,984 Expected return on assets (10,455 ) (11,344 ) Amortization of prior service credit (11,373 ) (9,320 ) Amortization of loss 4,554 7,893 Net other postretirement benefit cost $4,882 $16,539 Entergy’s other postretirement benefit cost, including amounts capitalized, for the nine months ended September 30, 2016 and 2015, included the following components: 2016 2015 (In Thousands) Service cost - benefits earned during the period $24,219 $33,978 Interest cost on accumulated postretirement benefit obligation (APBO) 42,249 53,952 Expected return on assets (31,365 ) (34,032 ) Amortization of prior service credit (34,119 ) (27,960 ) Amortization of loss 13,662 23,679 Net other postretirement benefit cost $14,646 $49,617 |
Entergy Arkansas [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Arkansas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Entergy Arkansas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 |
Entergy Louisiana [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
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) for the third quarters of 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($270 ) $7,738 ($114 ) $7,354 Amortization of loss (12,482 ) (2,063 ) (638 ) (15,183 ) Settlement loss — — (1,279 ) (1,279 ) ($12,752 ) $5,675 ($2,031 ) ($9,108 ) Entergy Louisiana Amortization of prior service credit $— $1,947 $— $1,947 Amortization of loss (836 ) (732 ) (2 ) (1,570 ) ($836 ) $1,215 ($2 ) $377 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($389 ) $6,482 ($108 ) $5,985 Amortization of loss (12,627 ) (4,409 ) (552 ) (17,588 ) ($13,016 ) $2,073 ($660 ) ($11,603 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $1,867 ($1 ) $1,866 Amortization of loss (751 ) (1,780 ) (5 ) (2,536 ) ($751 ) $87 ($6 ) ($670 ) Entergy and Entergy Louisiana reclassified the following costs out of accumulated other comprehensive income (loss) (before taxes and including amounts capitalized) for the nine months ended September 30, 2016 and 2015: 2016 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($810 ) $23,214 ($340 ) $22,064 Amortization of loss (37,446 ) (6,189 ) (1,900 ) (45,535 ) Settlement loss — — (1,279 ) (1,279 ) ($38,256 ) $17,025 ($3,519 ) ($24,750 ) Entergy Louisiana Amortization of prior service credit $— $5,841 $— $5,841 Amortization of loss (2,508 ) (2,196 ) (8 ) (4,712 ) ($2,508 ) $3,645 ($8 ) $1,129 2015 Qualified Other Non-Qualified Total (In Thousands) Entergy Amortization of prior service (cost)/credit ($1,167 ) $19,446 ($323 ) $17,956 Amortization of loss (37,881 ) (13,227 ) (1,656 ) (52,764 ) ($39,048 ) $6,219 ($1,979 ) ($34,808 ) Entergy Louisiana Amortization of prior service (cost)/credit $— $5,601 ($2 ) $5,599 Amortization of loss (2,253 ) (5,338 ) (15 ) (7,606 ) ($2,253 ) $263 ($17 ) ($2,007 ) |
Entergy Louisiana [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Louisiana [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Entergy Louisiana [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 |
Entergy Mississippi [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Mississippi [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Entergy Mississippi [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 |
Entergy New Orleans [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy New Orleans [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Entergy New Orleans [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 |
Entergy Texas [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
Entergy Texas [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Entergy Texas [Member] | Non-Qualified Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans in the third quarters of 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Third quarter 2016 $105 $58 $60 $16 $126 Third quarter 2015 $113 $68 $59 $16 $149 The Registrant Subsidiaries recognized the following pension cost for their employees for their non-qualified pension plans for the nine months ended September 30, 2016 and 2015: Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Thousands) Nine months ended September 30, 2016 $317 $176 $179 $48 $380 Nine months ended September 30, 2015 $339 $204 $177 $48 $447 |
System Energy [Member] | Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $5,181 $7,049 $1,562 $656 $1,416 $1,566 Interest cost on projected benefit obligation 13,055 14,870 3,811 1,814 3,557 2,992 Expected return on assets (19,772 ) (22,096 ) (5,981 ) (2,687 ) (6,062 ) (4,459 ) Amortization of loss 10,936 11,946 2,985 1,615 2,340 2,604 Net pension cost $9,400 $11,769 $2,377 $1,398 $1,251 $2,703 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $6,661 $8,599 $1,982 $849 $1,645 $1,957 Interest cost on projected benefit obligation 15,471 17,367 4,502 2,108 4,354 3,493 Expected return on assets (20,026 ) (22,701 ) (6,105 ) (2,725 ) (6,222 ) (4,568 ) Amortization of loss 13,564 14,951 3,724 2,013 3,238 3,264 Net pension cost $15,670 $18,216 $4,103 $2,245 $3,015 $4,146 The Registrant Subsidiaries’ qualified pension cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $15,543 $21,147 $4,686 $1,968 $4,248 $4,698 Interest cost on projected benefit obligation 39,165 44,610 11,433 5,442 10,671 8,976 Expected return on assets (59,316 ) (66,288 ) (17,943 ) (8,061 ) (18,186 ) (13,377 ) Amortization of loss 32,808 35,838 8,955 4,845 7,020 7,812 Net pension cost $28,200 $35,307 $7,131 $4,194 $3,753 $8,109 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $19,983 $25,797 $5,946 $2,547 $4,935 $5,871 Interest cost on projected benefit obligation 46,413 52,101 13,506 6,324 13,062 10,479 Expected return on assets (60,078 ) (68,103 ) (18,315 ) (8,175 ) (18,666 ) (13,704 ) Amortization of loss 40,692 44,853 11,172 6,039 9,714 9,792 Net pension cost $47,010 $54,648 $12,309 $6,735 $9,045 $12,438 |
Expected Employer Contributions | Based on current assumptions, Entergy expects to contribute $390.1 million to its qualified pension plans in 2016. As of September 30, 2016 , Entergy had contributed $307.6 million to its pension plans. Based on current assumptions, the Registrant Subsidiaries expect to contribute the following to qualified pension plans for their employees in 2016 : Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Expected 2016 pension contributions $83,001 $84,422 $19,968 $10,709 $15,920 $20,498 Pension contributions made through September 2016 $65,882 $67,116 $15,981 $8,456 $12,649 $16,120 Remaining estimated pension contributions to be made in 2016 $17,119 $17,306 $3,987 $2,253 $3,271 $4,378 |
System Energy [Member] | Other Postretirement [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Components Of Net Pension Cost | The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the third quarters of 2016 and 2015, included the following components: 2016 Entergy Entergy Entergy Entergy Entergy System (In Thousands) Service cost - benefits earned during the period $978 $1,869 $386 $156 $398 $334 Interest cost on APBO 2,324 3,260 709 448 1,039 529 Expected return on assets (4,464 ) — (1,379 ) (1,154 ) (2,394 ) (814 ) Amortization of prior service credit (1,368 ) (1,947 ) (234 ) (186 ) (681 ) (393 ) Amortization of loss 1,064 732 223 37 537 287 Net other postretirement benefit cost ($1,466 ) $3,914 ($295 ) ($699 ) ($1,101 ) ($57 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $1,739 $2,474 $507 $205 $500 $470 Interest cost on APBO 3,130 4,078 859 652 1,342 628 Expected return on assets (4,798 ) — (1,542 ) (1,201 ) (2,588 ) (911 ) Amortization of prior service credit (610 ) (1,867 ) (229 ) (177 ) (681 ) (366 ) Amortization of loss 1,339 1,780 215 118 685 300 Net other postretirement benefit cost $800 $6,465 ($190 ) ($403 ) ($742 ) $121 The Registrant Subsidiaries’ other postretirement benefit cost, including amounts capitalized, for their employees for the nine months ended September 30, 2016 and 2015, included the following components: 2016 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $2,934 $5,607 $1,158 $468 $1,194 $1,002 Interest cost on APBO 6,972 9,780 2,127 1,344 3,117 1,587 Expected return on assets (13,392 ) — (4,137 ) (3,462 ) (7,182 ) (2,442 ) Amortization of prior service credit (4,104 ) (5,841 ) (702 ) (558 ) (2,043 ) (1,179 ) Amortization of loss 3,192 2,196 669 111 1,611 861 Net other postretirement benefit cost ($4,398 ) $11,742 ($885 ) ($2,097 ) ($3,303 ) ($171 ) 2015 Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas System Energy (In Thousands) Service cost - benefits earned during the period $5,217 $7,422 $1,521 $615 $1,500 $1,410 Interest cost on APBO 9,390 12,234 2,577 1,956 4,026 1,884 Expected return on assets (14,394 ) — (4,626 ) (3,603 ) (7,764 ) (2,733 ) Amortization of prior service credit (1,830 ) (5,601 ) (687 ) (531 ) (2,043 ) (1,098 ) Amortization of loss 4,017 5,340 645 354 2,055 900 Net other postretirement benefit cost $2,400 $19,395 ($570 ) ($1,209 ) ($2,226 ) $363 |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Financial Information | Entergy’s segment financial information for the third quarters of 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $2,649,392 $475,345 $— ($34 ) $3,124,703 Income taxes $255,603 $6,115 ($3,812 ) $— $257,906 Consolidated net income (loss) $447,782 $8,221 ($30,901 ) ($31,898 ) $393,204 2015 Operating revenues $2,849,681 $521,746 $— ($21 ) $3,371,406 Income taxes $198,945 ($554,513 ) ($12,097 ) $— ($367,665 ) Consolidated net income (loss) $364,265 ($1,031,410 ) ($19,190 ) ($31,898 ) ($718,233 ) Entergy’s segment financial information for the nine months ended September 30, 2016 and 2015 is as follows: Utility Entergy Wholesale Commodities* All Other Eliminations Entergy (In Thousands) 2016 Operating revenues $6,855,664 $1,341,534 $— ($80 ) $8,197,118 Income taxes $359,653 ($176,626 ) ($34,148 ) $— $148,879 Consolidated net income (loss) $1,027,751 $338,651 ($69,672 ) ($95,695 ) $1,201,035 Total assets as of September 30, 2016 $40,542,593 $9,100,779 $1,339,879 ($3,245,070 ) $47,738,181 2015 Operating revenues $7,401,136 $1,603,643 $— ($51 ) $9,004,728 Income taxes $407,993 ($487,622 ) ($37,783 ) $— ($117,412 ) Consolidated net income (loss) $796,051 ($911,524 ) ($50,415 ) ($95,695 ) ($261,583 ) Total assets as of December 31, 2015 $38,356,906 $8,210,183 ($461,505 ) ($1,457,903 ) $44,647,681 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. |
Risk Management And Fair Valu29
Risk Management And Fair Values (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Values Of Derivative Instruments | The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of September 30, 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) $67 ($17) $50 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $20 ($5) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities $1 ($1) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $42 ($17) $25 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $6 ($1) $5 Entergy Wholesale Commodities FTRs Prepayments and other $32 ($1) $31 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities(current portion) $34 ($34) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $3 ($3) $— Entergy Wholesale Commodities Natural gas swaps Other current liabilities $1 $— $1 Utility The fair values of Entergy’s derivative instruments in the consolidated balance sheet as of December 31, 2015 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) $173 ($34) $139 Entergy Wholesale Commodities Electricity swaps and options Other deferred debits and other assets (non-current portion) $17 ($2) $15 Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $14 ($14) $— Entergy Wholesale Commodities Electricity swaps and options Other non-current liabilities (non-current portion) $2 ($2) $— Entergy Wholesale Commodities Derivatives not designated as hedging instruments Assets: Electricity swaps and options Prepayments and other (current portion) $54 ($13) $41 Entergy Wholesale Commodities FTRs Prepayments and other $24 ($1) $23 Utility and Entergy Wholesale Commodities Liabilities: Electricity swaps and options Other current liabilities (current portion) $38 ($32) $6 Entergy Wholesale Commodities Natural gas swaps Other current liabilities $9 $— $9 Utility |
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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $70 Competitive businesses operating revenues $37 2015 Electricity swaps and options $49 Competitive businesses operating revenues $86 (a) Before taxes of $13 million and $30 million for the three months ended September 30, 2016 and 2015, respectively The effects of Entergy’s derivative instruments designated as cash flow hedges on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in other comprehensive income Income Statement location Amount of gain reclassified from AOCI into income (a) (In Millions) (In Millions) 2016 Electricity swaps and options $156 Competitive businesses operating revenues $237 2015 Electricity swaps and options $154 Competitive businesses operating revenues $177 (a) Before taxes of $83 million and $61 million for the nine months ended September 30, 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 statements of operations for the three months ended September 30, 2016 and 2015 are as follows: Instrument Amount of loss recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) $25 FTRs $— Purchased power expense (b) $37 Electricity swaps and options ($9) (c) Competitive business operating revenues $— 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($13) FTRs $— Purchased power expense (b) $51 Electricity swaps and options $— (c) Competitive business operating revenues ($3) The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Amount of gain recognized in AOCI Income Statement Amount of gain (loss) (In Millions) (In Millions) 2016 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($5) FTRs $— Purchased power expense (b) $96 Electricity swaps and options $6 (c) Competitive business operating revenues ($9) 2015 Natural gas swaps $— Fuel, fuel-related expenses, and gas purchased for resale (a) ($29) FTRs $— Purchased power expense (b) $130 Electricity swaps and options $1 (c) Competitive business operating revenues ($42) (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. (c) Amount of gain (loss) recognized in AOCI from electricity swaps and options de-designated as hedged items. |
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 September 30, 2016 and December 31, 2015 . 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. 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,206 $— $— $1,206 Decommissioning trust funds (a): Equity securities 451 — — 451 Debt securities 1,016 1,275 — 2,291 Common trusts (b) 2,929 Power contracts — — 95 95 Securitization recovery trust account 54 — — 54 Escrow accounts 433 — — 433 FTRs — — 31 31 $3,160 $1,275 $126 $7,490 Liabilities: Gas hedge contracts $1 $— $— $1 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $1,287 $— $— $1,287 Decommissioning trust funds (a): Equity securities 468 — — 468 Debt securities 1,061 1,094 — 2,155 Common trusts (b) 2,727 Power contracts — — 195 195 Securitization recovery trust account 50 — — 50 Escrow accounts 425 — — 425 FTRs — — 23 23 $3,291 $1,094 $218 $7,330 Liabilities: Power contracts $— $— $6 $6 Gas hedge contracts 9 — — 9 $9 $— $6 $15 |
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 three months ended September 30, 2016 and 2015 : 2016 2015 Power Contracts FTRs Power Contracts FTRs (In Millions) Balance as of July 1, $66 $46 $204 $67 Total gains (losses) for the period (a) Included in earnings 6 — (2 ) — Included in OCI 70 — 49 — Included as a regulatory liability/asset — 22 — 31 Settlements (47 ) (37 ) (88 ) (51 ) Balance as of September 30, $95 $31 $163 $47 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is $1 million for the three months ended September 30, 2016 and $12 million for the three months ended September 30, 2015. 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 nine months ended September 30, 2016 and 2015 : 2016 2015 Power Contracts FTRs Power Contracts FTRs (In Millions) Balance as of January 1, $189 $23 $215 $47 Total gains (losses) for the period (a) Included in earnings (3 ) — (15 ) (1 ) Included in OCI 156 — 154 — Included as a regulatory liability/asset — 49 — 51 Issuances of FTRs — 55 — 80 Purchases — — 14 — Settlements (247 ) (96 ) (205 ) (130 ) Balance as of September 30, $95 $31 $163 $47 (a) Change in unrealized gains or losses for the period included in earnings for derivatives held at the end of the reporting period is $1 million for the nine months ended September 30, 2016 and $5 million for the nine months ended September 30, 2015. |
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 September 30, 2016 : Transaction Type Fair Value as of September 30, 2016 Significant Unobservable Inputs Range from Average % Effect on Fair Value (In Millions) (In Millions) Power contracts - electricity swaps $90 Unit contingent discount +/- 4% $7 Power contracts - electricity options $5 Implied volatility +/- 9% $4 |
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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. |
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 three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Arkansas 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $3.7 $— $— $3.7 Debt securities 103.1 215.8 — 318.9 Common trusts (b) 501.2 Securitization recovery trust account 7.7 — — 7.7 Escrow accounts 7.1 — — 7.1 FTRs — — 8.1 8.1 $121.6 $215.8 $8.1 $846.7 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Decommissioning trust funds (a): Equity securities $3.0 $— $— $3.0 Debt securities 110.5 193.4 — 303.9 Common trusts (b) 464.4 Securitization recovery trust account 4.2 — — 4.2 Escrow accounts 12.2 — — 12.2 FTRs — — 7.9 7.9 $129.9 $193.4 $7.9 $795.6 |
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 three months ended September 30, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of July 1, $14.0 $16.2 $5.6 $2.0 $8.0 Gains (losses) included as a regulatory liability/asset 1.2 16.6 5.1 0.5 (1.1 ) Settlements (7.1 ) (20.4 ) (6.7 ) (0.9 ) (1.8 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 three months ended September 30, 2015 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $9.1 $37.3 $4.9 $6.7 $7.9 Gains (losses) included as a regulatory liability/asset 16.5 3.0 6.1 (1.2 ) 7.3 Settlements (13.9 ) (17.9 ) (6.7 ) (1.5 ) (10.9 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 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 nine months ended September 30, 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 FTRs 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.7 38.3 6.8 0.1 2.3 Settlements (20.3 ) (52.5 ) (11.1 ) (2.8 ) (8.7 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 nine months ended September 30, 2015 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $0.7 $25.5 $3.4 $4.1 $12.3 Issuances of FTRs 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 52.6 (1.7 ) 9.4 0.1 (8.7 ) Settlements (48.6 ) (49.7 ) (13.9 ) (7.5 ) (10.7 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 |
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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. |
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 three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Louisiana 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $57.6 $— $— $57.6 Decommissioning trust funds (a): Equity securities 5.7 — — 5.7 Debt securities 131.5 308.6 — 440.1 Common trusts (b) 679.0 Escrow accounts 305.5 — — 305.5 Securitization recovery trust account 9.8 — — 9.8 FTRs — — 12.4 12.4 $510.1 $308.6 $12.4 $1,510.1 Liabilities: Gas hedge contracts $0.4 $— $— $0.4 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $34.8 $— $— $34.8 Decommissioning trust funds (a): Equity securities 7.1 — — 7.1 Debt securities 161.1 248.8 — 409.9 Common trusts (b) 625.3 Escrow accounts 290.4 — — 290.4 Securitization recovery trust account 3.2 — — 3.2 FTRs — — 8.5 8.5 $496.6 $248.8 $8.5 $1,379.2 Liabilities: Gas hedge contracts $7.0 $— $— $7.0 |
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 three months ended September 30, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of July 1, $14.0 $16.2 $5.6 $2.0 $8.0 Gains (losses) included as a regulatory liability/asset 1.2 16.6 5.1 0.5 (1.1 ) Settlements (7.1 ) (20.4 ) (6.7 ) (0.9 ) (1.8 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 three months ended September 30, 2015 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $9.1 $37.3 $4.9 $6.7 $7.9 Gains (losses) included as a regulatory liability/asset 16.5 3.0 6.1 (1.2 ) 7.3 Settlements (13.9 ) (17.9 ) (6.7 ) (1.5 ) (10.9 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 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 nine months ended September 30, 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 FTRs 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.7 38.3 6.8 0.1 2.3 Settlements (20.3 ) (52.5 ) (11.1 ) (2.8 ) (8.7 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 nine months ended September 30, 2015 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $0.7 $25.5 $3.4 $4.1 $12.3 Issuances of FTRs 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 52.6 (1.7 ) 9.4 0.1 (8.7 ) Settlements (48.6 ) (49.7 ) (13.9 ) (7.5 ) (10.7 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 |
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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. |
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 three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Mississippi 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $307.3 $— $— $307.3 Escrow accounts 31.8 — — 31.8 FTRs — — 4.0 4.0 $339.1 $— $4.0 $343.1 Liabilities: Gas hedge contracts $0.1 $— $— $0.1 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $144.2 $— $— $144.2 Escrow accounts 41.7 — — 41.7 FTRs — — 2.4 2.4 $185.9 $— $2.4 $188.3 Liabilities: Gas hedge contracts $1.3 $— $— $1.3 |
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 three months ended September 30, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of July 1, $14.0 $16.2 $5.6 $2.0 $8.0 Gains (losses) included as a regulatory liability/asset 1.2 16.6 5.1 0.5 (1.1 ) Settlements (7.1 ) (20.4 ) (6.7 ) (0.9 ) (1.8 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 three months ended September 30, 2015 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $9.1 $37.3 $4.9 $6.7 $7.9 Gains (losses) included as a regulatory liability/asset 16.5 3.0 6.1 (1.2 ) 7.3 Settlements (13.9 ) (17.9 ) (6.7 ) (1.5 ) (10.9 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 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 nine months ended September 30, 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 FTRs 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.7 38.3 6.8 0.1 2.3 Settlements (20.3 ) (52.5 ) (11.1 ) (2.8 ) (8.7 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 nine months ended September 30, 2015 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $0.7 $25.5 $3.4 $4.1 $12.3 Issuances of FTRs 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 52.6 (1.7 ) 9.4 0.1 (8.7 ) Settlements (48.6 ) (49.7 ) (13.9 ) (7.5 ) (10.7 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 |
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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. |
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 three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy New Orleans 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $37.2 $— $— $37.2 Securitization recovery trust account 5.1 — — 5.1 Escrow accounts 88.4 — — 88.4 FTRs — — 1.6 1.6 $130.7 $— $1.6 $132.3 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $87.8 $— $— $87.8 Securitization recovery trust account 4.6 — — 4.6 Escrow accounts 81.0 — — 81.0 FTRs — — 1.5 1.5 $173.4 $— $1.5 $174.9 Liabilities: Gas hedge contracts $0.5 $— $— $0.5 |
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 three months ended September 30, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of July 1, $14.0 $16.2 $5.6 $2.0 $8.0 Gains (losses) included as a regulatory liability/asset 1.2 16.6 5.1 0.5 (1.1 ) Settlements (7.1 ) (20.4 ) (6.7 ) (0.9 ) (1.8 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 three months ended September 30, 2015 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $9.1 $37.3 $4.9 $6.7 $7.9 Gains (losses) included as a regulatory liability/asset 16.5 3.0 6.1 (1.2 ) 7.3 Settlements (13.9 ) (17.9 ) (6.7 ) (1.5 ) (10.9 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 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 nine months ended September 30, 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 FTRs 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.7 38.3 6.8 0.1 2.3 Settlements (20.3 ) (52.5 ) (11.1 ) (2.8 ) (8.7 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 nine months ended September 30, 2015 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $0.7 $25.5 $3.4 $4.1 $12.3 Issuances of FTRs 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 52.6 (1.7 ) 9.4 0.1 (8.7 ) Settlements (48.6 ) (49.7 ) (13.9 ) (7.5 ) (10.7 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 |
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 September 30, 2016 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $8.1 Entergy Arkansas FTRs Prepayments and other $12.4 Entergy Louisiana FTRs Prepayments and other $4.0 Entergy Mississippi FTRs Prepayments and other $1.6 Entergy New Orleans FTRs Prepayments and other $5.1 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $0.4 Entergy Louisiana Natural gas swaps Other current liabilities $0.1 Entergy Mississippi The fair values of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their balance sheets as of December 31, 2015 are as follows: Instrument Balance Sheet Location Fair Value (a) Registrant (In Millions) Assets: FTRs Prepayments and other $7.9 Entergy Arkansas FTRs Prepayments and other $8.5 Entergy Louisiana FTRs Prepayments and other $2.4 Entergy Mississippi FTRs Prepayments and other $1.5 Entergy New Orleans FTRs Prepayments and other $2.2 Entergy Texas Liabilities: Natural gas swaps Other current liabilities $7.0 Entergy Louisiana Natural gas swaps Other current liabilities $1.3 Entergy Mississippi Natural gas swaps Other current liabilities $0.5 Entergy New Orleans (a) No cash collateral or letters of credit were required to be posted for FTR exposure as of September 30, 2016 and December 31, 2015, respectively. |
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 three months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $19.5 (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $5.3 (a) Entergy Mississippi FTRs Purchased power expense $7.1 (b) Entergy Arkansas FTRs Purchased power expense $20.4 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $0.9 (b) Entergy New Orleans FTRs Purchased power expense $1.8 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($10.2) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($1.9) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.4) (a) Entergy New Orleans FTRs Purchased power expense $13.9 (b) Entergy Arkansas FTRs Purchased power expense $17.9 (b) Entergy Louisiana FTRs Purchased power expense $6.7 (b) Entergy Mississippi FTRs Purchased power expense $1.5 (b) Entergy New Orleans FTRs Purchased power expense $10.9 (b) Entergy Texas The effects of the Registrant Subsidiaries’ derivative instruments not designated as hedging instruments on their income statements for the nine months ended September 30, 2016 and 2015 are as follows: Instrument Income Statement Location Amount of gain Registrant (In Millions) 2016 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.6) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale $0.3 (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.5) (a) Entergy New Orleans FTRs Purchased power expense $20.3 (b) Entergy Arkansas FTRs Purchased power expense $52.5 (b) Entergy Louisiana FTRs Purchased power expense $11.1 (b) Entergy Mississippi FTRs Purchased power expense $2.8 (b) Entergy New Orleans FTRs Purchased power expense $8.7 (b) Entergy Texas 2015 Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($23.7) (a) Entergy Louisiana Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($4.3) (a) Entergy Mississippi Natural gas swaps Fuel, fuel-related expenses, and gas purchased for resale ($0.9) (a) Entergy New Orleans FTRs Purchased power expense $48.6 (b) Entergy Arkansas FTRs Purchased power expense $49.7 (b) Entergy Louisiana FTRs Purchased power expense $13.9 (b) Entergy Mississippi FTRs Purchased power expense $7.5 (b) Entergy New Orleans FTRs Purchased power expense $10.7 (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 FTRs 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 FTRs for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms. |
Assets and liabilities at fair value on a recurring basis | Entergy Texas 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets : Securitization recovery trust account $31.4 $— $— $31.4 FTRs — — 5.1 5.1 $31.4 $— $5.1 $36.5 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets : Securitization recovery trust account $38.2 $— $— $38.2 FTRs — — 2.2 2.2 $38.2 $— $2.2 $40.4 |
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 three months ended September 30, 2016 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of July 1, $14.0 $16.2 $5.6 $2.0 $8.0 Gains (losses) included as a regulatory liability/asset 1.2 16.6 5.1 0.5 (1.1 ) Settlements (7.1 ) (20.4 ) (6.7 ) (0.9 ) (1.8 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 three months ended September 30, 2015 . Entergy Entergy Entergy Entergy Entergy (In Millions) Balance as of July 1, $9.1 $37.3 $4.9 $6.7 $7.9 Gains (losses) included as a regulatory liability/asset 16.5 3.0 6.1 (1.2 ) 7.3 Settlements (13.9 ) (17.9 ) (6.7 ) (1.5 ) (10.9 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 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 nine months ended September 30, 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 FTRs 18.8 18.1 5.9 2.8 9.3 Gains (losses) included as a regulatory liability/asset 1.7 38.3 6.8 0.1 2.3 Settlements (20.3 ) (52.5 ) (11.1 ) (2.8 ) (8.7 ) Balance as of September 30, $8.1 $12.4 $4.0 $1.6 $5.1 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 nine months ended September 30, 2015 . Entergy Arkansas Entergy Louisiana Entergy Mississippi Entergy New Orleans Entergy Texas (In Millions) Balance as of January 1, $0.7 $25.5 $3.4 $4.1 $12.3 Issuances of FTRs 7.0 48.3 5.4 7.3 11.4 Gains (losses) included as a regulatory liability/asset 52.6 (1.7 ) 9.4 0.1 (8.7 ) Settlements (48.6 ) (49.7 ) (13.9 ) (7.5 ) (10.7 ) Balance as of September 30, $11.7 $22.4 $4.3 $4.0 $4.3 |
System Energy [Member] | |
Assets and liabilities at fair value on a recurring basis | System Energy 2016 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $190.2 $— $— $190.2 Decommissioning trust funds (a): Equity securities 1.2 — — 1.2 Debt securities 246.5 62.1 — 308.6 Common trusts (b) 455.1 $437.9 $62.1 $— $955.1 2015 Level 1 Level 2 Level 3 Total (In Millions) Assets: Temporary cash investments $222.0 $— $— $222.0 Decommissioning trust funds (a): Equity securities 1.8 — — 1.8 Debt securities 218.6 59.2 — 277.8 Common trusts (b) 421.9 $442.4 $59.2 $— $923.5 |
Decommissioning Trust Funds (Ta
Decommissioning Trust Funds (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Securities Held | The securities held as of September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $3,380 $1,568 $1 Debt Securities 2,291 94 2 Total $5,671 $1,662 $3 Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2015 Equity Securities $3,195 $1,396 $2 Debt Securities 2,155 41 17 Total $5,350 $1,437 $19 |
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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $13 $1 $266 $1 More than 12 months — — 23 1 Total $13 $1 $289 $2 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $54 $2 $1,031 $15 More than 12 months 1 — 61 2 Total $55 $2 $1,092 $17 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $102 $77 1 year - 5 years 812 857 5 years - 10 years 743 704 10 years - 15 years 128 124 15 years - 20 years 62 50 20 years+ 444 343 Total $2,291 $2,155 |
Entergy Arkansas [Member] | |
Securities Held | Entergy Arkansas holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $504.9 $263.4 $— Debt Securities 318.9 10.8 0.3 Total $823.8 $274.2 $0.3 2015 Equity Securities $467.4 $234.4 $0.2 Debt Securities 303.9 4.1 2.2 Total $771.3 $238.5 $2.4 |
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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.9 $— $32.5 $0.3 More than 12 months — — — — Total $0.9 $— $32.5 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $7.8 $0.2 $111.4 $1.7 More than 12 months — — 18.5 0.5 Total $7.8 $0.2 $129.9 $2.2 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $8.8 $1.8 1 year - 5 years 123.5 145.2 5 years - 10 years 166.1 138.5 10 years - 15 years 9.5 2.4 15 years - 20 years 1.1 2.0 20 years+ 9.9 14.0 Total $318.9 $303.9 |
Entergy Louisiana [Member] | |
Securities Held | Entergy Louisiana holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $684.7 $322.9 $— Debt Securities 440.1 21.4 0.4 Total $1,124.8 $344.3 $0.4 2015 Equity Securities $632.4 $283.7 $0.2 Debt Securities 409.9 13.2 2.4 Total $1,042.3 $296.9 $2.6 |
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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $2.3 $— $32.5 $0.2 More than 12 months — — 6.5 0.2 Total $2.3 $— $39.0 $0.4 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $9.4 $0.2 $124.0 $2.0 More than 12 months — — 7.4 0.4 Total $9.4 $0.2 $131.4 $2.4 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $25.0 $27.1 1 year - 5 years 102.3 124.0 5 years - 10 years 121.5 114.3 10 years - 15 years 51.0 39.3 15 years - 20 years 31.1 26.5 20 years+ 109.2 78.7 Total $440.1 $409.9 |
System Energy [Member] | |
Securities Held | System Energy holds debt and equity securities, classified as available-for-sale, in nuclear decommissioning trust accounts. The securities held as of September 30, 2016 and December 31, 2015 are summarized as follows: Fair Value Total Unrealized Gains Total Unrealized Losses (In Millions) 2016 Equity Securities $456.3 $205.5 $0.1 Debt Securities 308.6 6.7 0.3 Total $764.9 $212.2 $0.4 2015 Equity Securities $423.7 $179.2 $0.3 Debt Securities 277.8 2.2 2.3 Total $701.5 $181.4 $2.6 |
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 September 30, 2016 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $0.8 $— $81.4 $0.2 More than 12 months — 0.1 1.0 0.1 Total $0.8 $0.1 $82.4 $0.3 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, 2015 : Equity Securities Debt Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (In Millions) Less than 12 months $8.3 $0.2 $200.4 $2.2 More than 12 months 0.9 0.1 5.0 0.1 Total $9.2 $0.3 $205.4 $2.3 |
Fair Value Of Debt Securities By Contractual Maturities | The fair value of debt securities, summarized by contractual maturities, as of September 30, 2016 and December 31, 2015 are as follows: 2016 2015 (In Millions) less than 1 year $3.0 $2.0 1 year - 5 years 192.6 181.2 5 years - 10 years 76.2 63.0 10 years - 15 years 3.5 4.4 15 years - 20 years 1.5 1.6 20 years+ 31.8 25.6 Total $308.6 $277.8 |
Commitments and Contingencies C
Commitments and Contingencies Commitments And Contingencies (Narrative) (Details) (Details) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Oct. 31, 2016USD ($) | Sep. 30, 2016USD ($)MW | Aug. 31, 2016USD ($) | Jul. 31, 2016USD ($) | Jun. 30, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Oct. 31, 2015USD ($) | Sep. 30, 2016USD ($)MW | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Regulatory Assets [Line Items] | ||||||||||||
Other Receivables | $ 227,278,000 | $ 178,364,000 | $ 227,278,000 | $ 178,364,000 | ||||||||
Entergy Mississippi [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Other Receivables | 8,328,000 | 8,276,000 | 8,328,000 | 8,276,000 | ||||||||
Entergy Arkansas [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Other Receivables | 81,260,000 | 84,216,000 | 81,260,000 | 84,216,000 | ||||||||
Entergy Arkansas [Member] | ANO [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Incremental NRC Inspection Costs | 53,000,000 | |||||||||||
Litigation Settlement, Amount | $ 31,000,000 | |||||||||||
Damages awarded for previously capitalized costs | 6,000,000 | |||||||||||
Damages awarded for previously recorded operation and maintenance | 6,000,000 | |||||||||||
Plant balance reduction | 6,000,000 | |||||||||||
Previously recorded nuclear fuel expense | $ 19,000,000 | |||||||||||
NRC inspection costs excluding remediation and response costs | $ 37,000,000 | |||||||||||
Entergy Arkansas [Member] | Subsequent Event [Member] | ANO [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Expected NRC inspection costs excluding remediation and response costs | $ 50,000,000 | |||||||||||
Entergy Wholesale Commodities [Member] | Pilgrim [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Capacity Supply Obligations in ISO New England | MW | 677 | 677 | ||||||||||
NRC inspection costs | $ 20,000,000 | |||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 3 and FitzPatrick [Domain] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Litigation Settlement, Amount | 81,000,000 | |||||||||||
Entergy Wholesale Commodities [Member] | Indian Point 3 [Domain] | ||||||||||||
Regulatory Assets [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] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Damages awarded for previously capitalized costs | 32,000,000 | |||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | |||||||||||
Plant balance reduction | 11,000,000 | |||||||||||
Carrying Value of Nuclear Plant | 0 | 0 | ||||||||||
Reduction to operation and maintenance expense | 21,000,000 | |||||||||||
Entergy Wholesale Commodities [Member] | Vermont Yankee [Member] | ||||||||||||
Regulatory Assets [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] | Palisades [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Litigation Settlement, Amount | $ 14,000,000 | $ 21,000,000 | ||||||||||
Entergy Wholesale Commodities [Member] | Minimum [Member] | Pilgrim [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Expected NRC inspection costs | 45,000,000 | 45,000,000 | ||||||||||
Entergy Wholesale Commodities [Member] | Maximum [Member] | Pilgrim [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Expected NRC inspection costs | 60,000,000 | 60,000,000 | ||||||||||
Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | Pilgrim [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Expected NRC inspection costs | $ 30,000,000 | |||||||||||
Entergy Wholesale Commodities [Member] | Subsequent Event [Member] | Indian Point 2 [Domain] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Litigation Settlement, Amount | $ 34,000,000 | |||||||||||
Entergy Louisiana [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Other Receivables | 108,213,000 | 56,793,000 | 108,213,000 | 56,793,000 | ||||||||
Entergy Louisiana [Member] | River Bend [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Litigation Settlement, Amount | 5,000,000 | $ 42,000,000 | ||||||||||
Damages awarded for previously capitalized costs | 17,000,000 | |||||||||||
Damages awarded for previously recorded operation and maintenance | 2,000,000 | |||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | |||||||||||
Plant balance reduction | 14,000,000 | |||||||||||
Previously recorded nuclear fuel expense | $ 23,000,000 | |||||||||||
Entergy Louisiana [Member] | Waterford Three [Member] | ||||||||||||
Regulatory Assets [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 | |||||||||||
Reduction of previously recorded deprecation expense | 3,000,000 | |||||||||||
Plant balance reduction | 38,000,000 | |||||||||||
Previously recorded nuclear fuel expense | 10,000,000 | |||||||||||
System Energy [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Other Receivables | $ 1,217,000 | $ 4,574,000 | $ 1,217,000 | $ 4,574,000 | ||||||||
System Energy [Member] | Grand Gulf [Member] | ||||||||||||
Regulatory Assets [Line Items] | ||||||||||||
Litigation Settlement, Amount | $ 49,000,000 | |||||||||||
Damages awarded for previously capitalized costs | 16,000,000 | |||||||||||
Damages awarded for previously recorded operation and maintenance | 9,000,000 | |||||||||||
Reduction of previously recorded deprecation expense | 4,000,000 | |||||||||||
Plant balance reduction | 12,000,000 | |||||||||||
Previously recorded nuclear fuel expense | $ 19,000,000 |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 36 Months Ended | ||||||||||||||||||||
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 ($) | Nov. 30, 2015USD ($) | Sep. 30, 2015USD ($) | Jul. 31, 2015USD ($) | Apr. 30, 2015USD ($) | Feb. 28, 2015USD ($) | Dec. 31, 2014USD ($) | Jul. 31, 2014USD ($) | Jan. 31, 2013USD ($)intervenor | Dec. 31, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Mar. 31, 2016USD ($) | May 31, 2015USD ($) | Jan. 31, 2015USD ($) | |
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Deferred Fuel Cost | $ 41,686,000 | $ 0 | $ 0 | $ 41,686,000 | ||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | (949,329,000) | $ 0 | ||||||||||||||||||||||
Impairment of Long-Lived Assets Held-for-use | 33,170,000 | 1,642,204,000 | ||||||||||||||||||||||
Entergy Louisiana [Member] | ||||||||||||||||||||||||
Regulatory Assets [Line Items] | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Number of Parties That Intervened in LPSC Proceeding | intervenor | 2 | |||||||||||||||||||||||
Number of Intervenors | intervenor | 1 | |||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Public Utilities Earned Return On Common Equity | 9.07% | |||||||||||||||||||||||
LPSC staff recommended fuel refund including interest | $ 8,600,000 | |||||||||||||||||||||||
Refund To Customers | 43,000,000 | |||||||||||||||||||||||
One-time credit to customers resulting from potential future service credits | 24,000,000 | 24,000,000 | ||||||||||||||||||||||
Amount of LPSC Recommended Realignment of Fuel Costs to Base Rates | 12,700,000 | |||||||||||||||||||||||
LPSC previously recommended disallowance of portion of refund to customers | 3,400,000 | |||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | (474,000,000) | (474,670,000) | 0 | |||||||||||||||||||||
Earned return on common equity | 10.22% | |||||||||||||||||||||||
Estimated costs at completion for Ninemile 6 project | $ 648,000,000 | |||||||||||||||||||||||
Decrease in estimated costs at completion for Ninemile 6 project | 76,000,000 | |||||||||||||||||||||||
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 Gulf States Louisiana additional capacity mechanism | 500,000 | |||||||||||||||||||||||
Adjustment to formula rate plan to increase Legacy Entergy Louisiana revenues due to effect of system agreement termination | 10,000,000 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Recommended potential project and replacement power cost disallowances | $ 71,000,000 | |||||||||||||||||||||||
Intervenor Recommended Disallowance of Incremental Project Costs | $ 141,000,000 | |||||||||||||||||||||||
Impairment of Long-Lived Assets Held-for-use | $ 16,000,000 | |||||||||||||||||||||||
ALJ Recommended Disallowance of Capital Costs | 67,000,000 | |||||||||||||||||||||||
Project and Replacement Power Cost Disallowances | 2,000,000 | |||||||||||||||||||||||
ALJ Recommended Charges Related to Waterford 3 Steam Generator Project | 77,000,000 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Entergy Mississippi [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Public Utilities Earned Return On Common Equity | 10.07% | |||||||||||||||||||||||
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 | $ 68,000,000 | $ 48,000,000 | 48,000,000 | |||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 32,600,000 | |||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.96% | |||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 23,700,000 | |||||||||||||||||||||||
Rate Increase Included in Formula Rate Plan | 19,400,000 | |||||||||||||||||||||||
Storm Reserve Accrual Hurricane Isaac | $ 0 | |||||||||||||||||||||||
Increase in expenses to be collected through ad valorem tax adjustment rider | 4,300,000 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Upper limit not exceeded for storm accrual balance | $ 10,000,000 | |||||||||||||||||||||||
Entergy Mississippi [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Storm Reserve Accrual Hurricane Isaac | $ 0 | |||||||||||||||||||||||
Balance At Which Storm Damage Accrual Will Return To Current Level | 10,000,000 | |||||||||||||||||||||||
Entergy New Orleans [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Long-term payable due to Entergy Louisiana | 20,527,000 | 20,527,000 | 20,527,000 | 20,527,000 | ||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | $ (237,000,000) | (237,335,000) | 0 | |||||||||||||||||||||
Monthly customer credits | $ 1,400,000 | |||||||||||||||||||||||
Authorized monthly customer credits | $ 400,000 | |||||||||||||||||||||||
Proposed annual customer credits | 5,000,000 | |||||||||||||||||||||||
Redemption of Preferred Equity | 21,000,000 | |||||||||||||||||||||||
Call Premium on Preferred Stock | 819,000 | |||||||||||||||||||||||
Entergy New Orleans [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Entergy Texas [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 13,000,000 | |||||||||||||||||||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | 10,500,000 | |||||||||||||||||||||||
Amount Collected From Customers | 29,500,000 | |||||||||||||||||||||||
Authorized collection through TCRF rider | 10,500,000 | |||||||||||||||||||||||
Refund To Customers | $ 68,000,000 | 56,200,000 | ||||||||||||||||||||||
Refund for fuel cost recovery | 41,800,000 | |||||||||||||||||||||||
System Agreement Bandwidth Refund Related to Calendar Year 2006 Production Costs | $ 10,900,000 | |||||||||||||||||||||||
System Agreement Bandwidth Refund Related to Calendar Year 2006-2008 Production Costs | $ 3,500,000 | |||||||||||||||||||||||
Reduction in approved retail rate increase | 2,000,000 | |||||||||||||||||||||||
Intervenor Recommended Disallowance Due to Load Growth Adjustment | $ 3,400,000 | |||||||||||||||||||||||
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 | |||||||||||||||||||||||
Entergy Arkansas [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
APSC and Intervener Recommended Revenue Requirement | $ 217,900,000 | |||||||||||||||||||||||
APSC and Intervener Recommended Return on Equity | 9.65% | |||||||||||||||||||||||
Rate Increase | 225,000,000 | |||||||||||||||||||||||
Net increase in revenues | $ 133,000,000 | $ 167,000,000 | ||||||||||||||||||||||
Authorized return on common equity | 9.75% | |||||||||||||||||||||||
Deferred Fuel Cost | 41,686,000 | $ 0 | $ 0 | 41,686,000 | ||||||||||||||||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 67,700,000 | $ 268,400,000 | ||||||||||||||||||||||
Public Utilities, Requested Return on Equity, Percentage | 9.75% | 10.20% | ||||||||||||||||||||||
Estimated Net benefit to Customers Anticipated with AMI Deployment | 431,000,000 | |||||||||||||||||||||||
Book Value of Existing Meters to be Retired with AMI Deployment | $ 57,000,000 | 57,000,000 | ||||||||||||||||||||||
Basis Point Band | 5000.00% | |||||||||||||||||||||||
Payments to Acquire Property, Plant, and Equipment | (237,000,000) | $ (237,324,000) | $ 0 | |||||||||||||||||||||
Post-Fukushima Compliance Costs | $ 7,700,000 | |||||||||||||||||||||||
Flood Barrier Compliance Costs | $ 9,900,000 | |||||||||||||||||||||||
Reduction in approved retail rate increase | $ 5,000,000 | |||||||||||||||||||||||
Interim Base Rate Adjustment Surcharge Recovery | 21,100,000 | |||||||||||||||||||||||
ALJ Recommended Percentage By Which Payments Be Reduced | 20.00% | |||||||||||||||||||||||
Liability Recorded Related to Estimated Payments Due Utility Operating Companies | 87,000,000 | 87,000,000 | ||||||||||||||||||||||
Regulatory Asset Recorded to Represent Estimate of Recoverable Retail Portion of Costs | $ 75,000,000 | $ 75,000,000 | ||||||||||||||||||||||
Redetermination Of Production Cost Allocation Rider Unrecovered Retail Balance | $ 1,900,000 | |||||||||||||||||||||||
Entergy Arkansas [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||
Public Utilities, Requested Increase in Revenue Requirement | $ 54,400,000 |
Equity (Narrative) (Details)
Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 28, 2016 | Oct. 31, 2016 | Sep. 30, 2016 | May 31, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 |
Equity [Abstract] | ||||||||
Stock Options Excluded From Diluted Common Shares Outstanding Calculation | 3,500,000 | 7,400,000 | 4,600,000 | 7,400,000 | ||||
Dividends, Common Stock, Cash | $ 455,993 | $ 447,268 | ||||||
Shares, Issued | 738,579 | 738,579 | 738,579 | |||||
Common stock dividend (in dollars per share) | $ 0.85 | $ 0.83 | $ 2.55 | $ 2.49 | ||||
Entergy Louisiana [Member] | ||||||||
Equity [Abstract] | ||||||||
Dividends, Common Stock, Cash | $ 215,000 | $ 100,000 | ||||||
Entergy Arkansas [Member] | Preferred Stock Cumulative One Hundred Dollar Par Value Six Point Zero Eight Percent Series [Member] | ||||||||
Equity [Abstract] | ||||||||
Redemption of Preferred Equity | $ 10,000 | |||||||
Preferred Stock, Dividend Rate, Percentage | 6.08% | |||||||
Entergy Arkansas [Member] | Preferred Stock Cumulative Twenty Five Dollar Par Value Six Point Four Five Percent Series [Member] | ||||||||
Equity [Abstract] | ||||||||
Redemption of Preferred Equity | $ 75,000 | |||||||
Preferred Stock, Dividend Rate, Percentage | 6.45% | |||||||
Entergy Mississippi [Member] | ||||||||
Equity [Abstract] | ||||||||
Dividends, Common Stock, Cash | 24,000 | 36,250 | ||||||
System Energy [Member] | ||||||||
Equity [Abstract] | ||||||||
Dividends, Common Stock, Cash | $ 40,000 | $ 139,000 | $ 130,750 | |||||
Subsequent Event [Member] | ||||||||
Equity [Abstract] | ||||||||
Common stock dividend (in dollars per share) | $ 0.87 | |||||||
Subsequent Event [Member] | Entergy Mississippi [Member] | Preferred Stock Cumulative Twenty Five Dollar Par Value Six Point Two Five Percent Series [Member] | ||||||||
Equity [Abstract] | ||||||||
Redemption of Preferred Equity | $ 30,000 | |||||||
Preferred Stock, Dividend Rate, Percentage | 6.25% |
Equity (Schedule Of Earnings Pe
Equity (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Basic earnings per share | ||||
Net income (loss) attributable to Entergy Corporation, Income | $ 388,170 | $ (723,027) | $ 1,185,449 | $ (276,135) |
Net Income Attributable to Entergy Corporation, Shares | 179,023,351 | 179,151,832 | 178,804,148 | 179,442,172 |
Net Income Attributable to Entergy Corporation, $/share | $ 2.17 | $ (4.04) | $ 6.63 | $ (1.54) |
Average dilutive effect of: | ||||
Stock options, Shares | 300,000 | 0 | 200,000 | 0 |
Stock options $/share | $ 0 | $ 0 | $ (0.01) | $ 0 |
Restricted stock, Shares | 700,000 | 0 | 500,000 | 0 |
Restricted stock $/share | $ (0.01) | $ 0 | $ (0.02) | $ 0 |
Diluted earnings per share, Shares | 179,990,888 | 179,151,832 | 179,490,060 | 179,442,172 |
Diluted earnings per share $/share | $ 2.16 | $ (4.04) | $ 6.60 | $ (1.54) |
Equity (Accumulated Other Compr
Equity (Accumulated Other Comprehensive Income (Loss))(Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | $ (9,155) | $ (46,816) | $ 8,951 | $ (42,307) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 68,109 | (19,609) | 171,878 | 35,970 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (20,818) | (51,373) | (142,693) | (111,461) |
Other comprehensive income (loss) | 47,291 | (70,982) | 29,185 | (75,491) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 38,136 | (117,798) | 38,136 | (117,798) |
Foreign Currency Translation [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 840 | 2,785 | 2,028 | 2,669 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (92) | (469) | (1,280) | (353) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | (92) | (469) | (1,280) | (353) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 748 | 2,316 | 748 | 2,316 |
Net Unrealized Investment Gains [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 411,581 | 396,818 | 367,557 | 426,695 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 23,039 | (50,760) | 72,087 | (63,210) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1,672) | (3,206) | (6,696) | (20,633) |
Other comprehensive income (loss) | 21,367 | (53,966) | 65,391 | (83,843) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 432,948 | 342,852 | 432,948 | 342,852 |
Pension And Other Postretirement Liabilities [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (453,999) | (553,903) | (466,604) | (569,789) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | 0 | 13 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 5,044 | 7,437 | 17,649 | 23,310 |
Other comprehensive income (loss) | 5,044 | 7,437 | 17,649 | 23,323 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | (448,955) | (546,466) | (448,955) | (546,466) |
Cash Flow Hedges Net Unrealized Gain [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 32,423 | 107,484 | 105,970 | 98,118 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 45,162 | 31,620 | 101,071 | 99,520 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (24,190) | (55,604) | (153,646) | (114,138) |
Other comprehensive income (loss) | 20,972 | (23,984) | (52,575) | (14,618) |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 53,395 | 83,500 | 53,395 | 83,500 |
Entergy Louisiana [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (56,412) | |||
Other comprehensive income (loss) | (232) | 412 | (725) | 1,204 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | (57,137) | (57,137) | ||
Entergy Louisiana [Member] | Pension And Other Postretirement Liabilities [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | (56,905) | (78,431) | (56,412) | (79,223) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (232) | 412 | (725) | 1,204 |
Other comprehensive income (loss) | (232) | 412 | (725) | 1,204 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | $ (57,137) | $ (78,019) | $ (57,137) | $ (78,019) |
Equity (Reclassification out of
Equity (Reclassification out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Competitive Energy Revenue | $ 475,345 | $ 521,746 | $ 1,341,534 | $ 1,603,643 | ||
Other Nonoperating Income (Expense) | (6,740) | (10,005) | (25,702) | (34,769) | ||
INCOME (LOSS) BEFORE INCOME TAXES | 651,110 | (1,085,898) | 1,349,914 | (378,995) | ||
Income taxes (benefits) | (257,906) | 367,665 | (148,879) | 117,412 | ||
Consolidated net income (loss) | 393,204 | (718,233) | 1,201,035 | [1] | (261,583) | [1] |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Consolidated net income (loss) | 20,818 | 51,373 | 142,693 | 111,461 | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Consolidated net income (loss) | 1,672 | 3,206 | 6,696 | 20,633 | ||
Parent Company [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Competitive Energy Revenue | 37,550 | 86,020 | 237,483 | 177,129 | ||
Other Nonoperating Income (Expense) | (334) | (477) | (1,104) | (1,533) | ||
INCOME (LOSS) BEFORE INCOME TAXES | 37,216 | 85,543 | 236,379 | 175,596 | ||
Income taxes (benefits) | (13,026) | (29,939) | (82,733) | (61,458) | ||
Consolidated net income (loss) | 24,190 | 55,604 | 153,646 | 114,138 | ||
Parent Company [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Realized gain (loss) | 3,279 | 6,286 | 13,129 | 40,457 | ||
Income taxes (benefits) | (1,607) | (3,080) | (6,433) | (19,824) | ||
Parent Company [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | (1,279) | (1,279) | ||||
Amortization of prior-service credit | 7,354 | 5,985 | 22,064 | 17,956 | ||
Amortization of loss | (15,183) | (17,588) | (45,535) | (52,764) | ||
INCOME (LOSS) BEFORE INCOME TAXES | (9,108) | (11,603) | (24,750) | (34,808) | ||
Income taxes (benefits) | 4,064 | 4,166 | 7,101 | 11,498 | ||
Consolidated net income (loss) | (5,044) | (7,437) | (17,649) | (23,310) | ||
Entergy Louisiana [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Other Nonoperating Income (Expense) | (4,429) | (2,976) | (10,044) | (7,764) | ||
INCOME (LOSS) BEFORE INCOME TAXES | 289,047 | 273,208 | 618,630 | 604,965 | ||
Income taxes (benefits) | (99,541) | (86,068) | (64,193) | (182,735) | ||
Consolidated net income (loss) | 189,506 | 187,140 | 554,437 | 422,230 | ||
Entergy Louisiana [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Amortization of prior-service credit | 1,947 | 1,866 | 5,841 | 5,599 | ||
Amortization of loss | (1,570) | (2,536) | (4,712) | (7,606) | ||
INCOME (LOSS) BEFORE INCOME TAXES | 377 | (670) | 1,129 | (2,007) | ||
Income taxes (benefits) | (145) | 258 | (404) | 803 | ||
Consolidated net income (loss) | $ 232 | $ (412) | $ 725 | $ (1,204) | ||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Revolving Credit Facilities, 37
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |||||||||
Oct. 31, 2016 | Sep. 30, 2016 | Aug. 31, 2016 | Jul. 31, 2016 | Jun. 30, 2016 | May 31, 2016 | Apr. 30, 2016 | Mar. 31, 2016 | Feb. 29, 2016 | Jan. 31, 2016 | Sep. 30, 2016 | |
Debt Instrument [Line Items] | |||||||||||
Amount of Facility | $ 3,500,000 | $ 3,500,000 | |||||||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | 50.00% | |||||||||
Line of credit facility, commitment fee percentage | 0.225% | ||||||||||
Amount Drawn/ Outstanding | $ 180,000 | $ 180,000 | |||||||||
Commercial Paper program limit | 1,500,000 | 1,500,000 | |||||||||
Commercial Paper Amount Outstanding | $ 264,000 | $ 264,000 | |||||||||
Commercial Paper Program [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt, weighted average interest rate | 1.14% | 1.14% | |||||||||
Credit Facility [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt, weighted average interest rate | 2.24% | 2.24% | |||||||||
Senior Secured Notes, Two Point Nine Five Percent Series Due September Two Thousand Twenty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 2.95% | ||||||||||
Issuance Of Debt | $ 750,000 | ||||||||||
Senior Secured Notes, Four Point Seven Percent Series Due January Two Thousand Seventeen [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.70% | ||||||||||
Anticipated redemption of debt instrument | $ 500,000 | ||||||||||
Entergy Arkansas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | $ 250,000 | $ 250,000 | |||||||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | 50.00% | |||||||||
Entergy Arkansas [Member] | Preferred Stock Cumulative One Hundred Dollar Par Value Six Point Zero Eight Percent Series [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Redemption of Preferred Equity | $ 10,000 | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.08% | ||||||||||
Entergy Arkansas [Member] | Preferred Stock Cumulative Twenty Five Dollar Par Value Six Point Four Five Percent Series [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Redemption of Preferred Equity | $ 75,000 | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.45% | ||||||||||
Entergy Arkansas [Member] | Mortgage Bonds Six Point Three Eight Percent Series Due November Twenty Thirty Four [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.38% | ||||||||||
Redemption of debt instrument | $ 60,000 | ||||||||||
Entergy Arkansas [Member] | Mortgage Bonds Five Point Sixty Six Percent Series due February Two Thousand Twenty Five [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.66% | ||||||||||
Redemption of debt instrument | $ 175,000 | ||||||||||
Entergy Arkansas [Member] | Mortgage Bonds, Four Point Eight Seven Five Percent Series, Due September Two Thousand Sixty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.875% | ||||||||||
Issuance Of Debt | $ 410,000 | ||||||||||
Entergy Arkansas [Member] | Mortgage Bonds Five Point Seven Five Percent Series Due November Twenty Forty [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.75% | ||||||||||
Redemption of debt instrument | $ 225,000 | ||||||||||
Entergy Arkansas [Member] | Mortgage Bonds Five Point Nine Percent Series Due June Two Thousand Thirty Three [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.90% | ||||||||||
Redemption of debt instrument | $ 100,000 | ||||||||||
Entergy Arkansas [Member] | Three Point Five Percent Series First Mortgage Bonds Due April Two Thousand Twenty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.50% | 3.50% | |||||||||
Issuance Of Debt | $ 55,000 | $ 325,000 | |||||||||
Entergy Louisiana [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | $ 450,000 | $ 450,000 | |||||||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | 50.00% | |||||||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds, Four Point Ninety Five Percent Series, Due January Two Thousand Forty Five [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.95% | ||||||||||
Issuance Of Debt | $ 200,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds, Three Point Two Five Percent Series, Due April Twenty Twenty Eight [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.25% | ||||||||||
Issuance Of Debt | $ 425,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Notes, Waterford 3 Series [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Issuance Of Debt | $ 51,972 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds Three Point Zero Five Percent Series Due June Two Thousand Thirty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.05% | ||||||||||
Issuance Of Debt | $ 325,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds Six Point Two Percent Series Due July Two Thousand Thirty Three [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.20% | ||||||||||
Redemption of debt instrument | $ 240,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds Six Point One Eight Percent Series Due March Two Thousand Thirty Five [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.18% | ||||||||||
Redemption of debt instrument | $ 85,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds, Four Point Eight Seven Five Percent Series, Due September Two Thousand Sixty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.875% | ||||||||||
Issuance Of Debt | $ 270,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds Six Point Zero Percent Series Due March Two Thousand Forty [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.00% | 6.00% | |||||||||
Redemption of debt instrument | $ 118,000 | ||||||||||
Entergy Louisiana [Member] | Mortgage Bonds Five Point Eight Seven Five Percent Series Due June Two Thousand Forty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.875% | 5.875% | |||||||||
Redemption of debt instrument | $ 150,000 | ||||||||||
Entergy Louisiana [Member] | Governmental Bonds, Three Point Three Seven Five Percent, Due September Twenty Twenty Eight [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.375% | ||||||||||
Issuance Of Debt | $ 83,680 | ||||||||||
Entergy Louisiana [Member] | Governmental Bonds, Three Point Five Zero Percent, Due June Twenty Thirty [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.50% | ||||||||||
Issuance Of Debt | $ 115,000 | ||||||||||
Entergy Louisiana [Member] | Pollution Control Revenue Bonds [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Redemption of debt instrument | $ 198,680 | ||||||||||
Entergy Mississippi [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | $ 175,000 | $ 175,000 | |||||||||
Entergy Mississippi [Member] | Mortgage Bonds Two Point Eight Five Percent Series Due June Two Thousand Twenty Eight [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 2.85% | ||||||||||
Issuance Of Debt | $ 375,000 | ||||||||||
Entergy Mississippi [Member] | Mortgage Bonds Three Point Two Five Percent Series Due June Two Thousand Sixteen [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.25% | ||||||||||
Redemption of debt instrument | $ 125,000 | ||||||||||
Entergy Mississippi [Member] | Mortgage Bonds Six Point Zero Percent Series Due November Two Thousand Thirty Two [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.00% | ||||||||||
Redemption of debt instrument | $ 75,000 | ||||||||||
Entergy Mississippi [Member] | Mortgage Bonds Six Point Two Five Percent Series Due April Two Thousand Thirty Four [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.25% | ||||||||||
Redemption of debt instrument | $ 100,000 | ||||||||||
Entergy Mississippi [Member] | Mortgage Bonds, Four Point Nine Zero Percent Series, Due October Two Thousand Sixty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.90% | 4.90% | |||||||||
Issuance Of Debt | $ 260,000 | ||||||||||
Entergy Mississippi [Member] | Governmental Bonds Four Point Nine Zero Percent Series Due Two Thousand Twenty Two Independence County [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.90% | ||||||||||
Redemption of debt instrument | $ 30,000 | ||||||||||
Entergy Texas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | $ 200,000 | $ 200,000 | |||||||||
Issuance of letters of credit, percentage of total borrowing capacity | 50.00% | 50.00% | |||||||||
Entergy Texas [Member] | Mortgage Bonds, Two Point Five Five Series, Due June Twenty Twenty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 2.55% | ||||||||||
Issuance Of Debt | $ 125,000 | ||||||||||
System Energy [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | $ 200,000 | $ 200,000 | |||||||||
System Energy [Member] | Five Point Eight Seven Five Percent Governmental Bonds Due 2022 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.875% | ||||||||||
Redemption of debt instrument | $ 22,000 | ||||||||||
Long-term Debt, Gross | $ 156,000 | ||||||||||
Entergy Nuclear Vermont Yankee [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount of Facility | $ 100,000 | ||||||||||
Line of credit facility, commitment fee percentage | 0.20% | ||||||||||
Amount Drawn/ Outstanding | 41,500 | $ 41,500 | |||||||||
Line of Credit Facility, Interest Rate During Period | 2.19% | ||||||||||
Uncommitted Credit Facility | 85,000 | $ 85,000 | |||||||||
Uncommitted Line of Credit Facility Interest Rate During Period | 2.27% | ||||||||||
Entergy New Orleans [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Authorized Short Term Borrowings | 100,000 | $ 100,000 | |||||||||
Issuance of letters of credit, limit of total borrowing capacity | 10,000 | 10,000 | |||||||||
Redemption of Preferred Equity | $ 21,000 | ||||||||||
Entergy New Orleans [Member] | Mortgage Bonds, Five Point Five Zero Percent Series, Due April Twenty Sixty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.50% | ||||||||||
Issuance Of Debt | $ 110,000 | ||||||||||
Entergy New Orleans [Member] | Mortgage Bonds Four Percent Series Due June Two Thousand Twenty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 4.00% | ||||||||||
Issuance Of Debt | $ 85,000 | ||||||||||
Entergy New Orleans [Member] | Mortgage Bonds Five Point Six Percent Series Due September Two Thousand Twenty Four [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.60% | ||||||||||
Redemption of debt instrument | $ 33,271 | ||||||||||
Entergy New Orleans [Member] | Mortgage Bonds Five Point Six Five Percent Series Due September Two Thousand Twenty Nine [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 5.65% | ||||||||||
Redemption of debt instrument | $ 37,772 | ||||||||||
System Energy VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount Drawn/ Outstanding | $ 80,000 | $ 80,000 | |||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||||
System Energy VIE [Member] | Three Point Seven Eight Percent Series I Notes Due October Two Thousand Eighteen [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.78% | 3.78% | |||||||||
Entergy Arkansas VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount Drawn/ Outstanding | $ 47,400 | $ 47,400 | |||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||||
Entergy Arkansas VIE [Member] | Variable Interest Entity Notes Payable Three Point Two Three Percent Series J Due July Two Thousand Sixteen [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.23% | ||||||||||
Redemption of debt instrument | $ 55,000 | ||||||||||
Entergy Arkansas VIE [Member] | Three Point Six Five Percent Series L Notes Due July Two Thousand Twenty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.65% | 3.65% | |||||||||
Entergy Louisiana VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% | ||||||||||
Entergy Louisiana VIE [Member] | Variable Interest Entity Notes Payable Three Point Three Zero Percent Series F Due March Two Thousand Sixteen [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.30% | ||||||||||
Redemption of debt instrument | $ 20,000 | ||||||||||
Entergy Louisiana Waterford VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount Drawn/ Outstanding | $ 42,000 | $ 42,000 | |||||||||
Entergy Louisiana Waterford VIE [Member] | Three Point Nine Two Percent Series H Dues February Two Thousand Twenty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 3.92% | 3.92% | |||||||||
Entergy Louisiana River Bend VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount Drawn/ Outstanding | $ 0 | $ 0 | |||||||||
Maximum [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Line of credit facility, commitment fee percentage | 0.275% | ||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | Entergy Arkansas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | Entergy Louisiana [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | Entergy Mississippi [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | Entergy Texas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | Entergy New Orleans [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio | 65.00% | 65.00% | |||||||||
Maximum [Member] | System Energy VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||||||
Maximum [Member] | Entergy Arkansas VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||||||
Maximum [Member] | Entergy Louisiana VIE [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Consolidated debt ratio of total capitalization | 70.00% | ||||||||||
Minimum [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Line of credit facility, commitment fee percentage | 0.075% | ||||||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Arkansas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount of Facility | $ 150,000 | $ 150,000 | |||||||||
Letters of Credit Outstanding, Amount | 0 | 0 | |||||||||
Amount Drawn/ Outstanding | 0 | $ 0 | |||||||||
Line of Credit Facility, Interest Rate During Period | 1.77% | ||||||||||
Credit Facility Of One Hundred And Fifty Million [Member] | Entergy Texas [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount of Facility | 150,000 | $ 150,000 | |||||||||
Letters of Credit Outstanding, Amount | 4,700 | 4,700 | |||||||||
Amount Drawn/ Outstanding | $ 0 | $ 0 | |||||||||
Line of Credit Facility, Interest Rate During Period | 2.02% | ||||||||||
Subsequent Event [Member] | Entergy Louisiana [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Repayment of Waterford 3 lessor debt due January 2017 | $ 57,000 | ||||||||||
Subsequent Event [Member] | Entergy Louisiana [Member] | Mortgage Bonds Two Point Four Percent Series Due October Two Thousand Twenty Six [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 2.40% | ||||||||||
Issuance Of Debt | $ 400,000 | ||||||||||
Subsequent Event [Member] | Entergy Mississippi [Member] | Preferred Stock Cumulative Twenty Five Dollar Par Value Six Point Two Five Percent Series [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Redemption of Preferred Equity | $ 30,000 | ||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.25% | ||||||||||
Subsequent Event [Member] | Entergy Mississippi [Member] | Mortgage Bonds Six Point Two Percent Series Due April Two Thousand Forty [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.20% | ||||||||||
Redemption of debt instrument | $ 80,000 | ||||||||||
Subsequent Event [Member] | Entergy Mississippi [Member] | Mortgage Bonds Six Point Zero Percent Series Due May Two Thousand Fifty One [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, interest rate, stated percentage | 6.00% | ||||||||||
Redemption of debt instrument | $ 150,000 |
Revolving Credit Facilities, 38
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Summary Of The Borrowings Outstanding And Capacity Available Under The Facility) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Summary of the borrowings outstanding and capacity available under the facility | |
Capacity | $ 3,500 |
Amount Drawn/ Outstanding | 180 |
Letters of Credit | 6 |
Capacity Available | $ 3,314 |
Revolving Credit Facilities, 39
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Credit Facilities) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Amount of Facility | $ 3,500,000 |
Amount Drawn/ Outstanding | $ 180,000 |
Entergy Arkansas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Amount of Facility | $ 150,000 |
Interest Rate | 1.77% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Arkansas [Member] | Credit Facility Of Twenty Million [Member] | |
Expiration Date | Apr. 30, 2017 |
Amount of Facility | $ 20,000 |
Interest Rate | 1.77% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Louisiana [Member] | Credit Facility Of Three Hundred Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Amount of Facility | $ 350,000 |
Interest Rate | 1.77% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 6,400 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Seven Point Five Million [Member] | |
Expiration Date | May 31, 2017 |
Amount of Facility | $ 37,500 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Thirty Five Million [Member] | |
Expiration Date | May 31, 2017 |
Amount of Facility | $ 35,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Twenty Million [Member] | |
Expiration Date | May 31, 2017 |
Amount of Facility | $ 20,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy Mississippi [Member] | Credit Facility Of Ten Million [Member] | |
Expiration Date | May 31, 2017 |
Amount of Facility | $ 10,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 0 |
Entergy New Orleans [Member] | Credit Facility Of Twenty Five Million [Member] | |
Expiration Date | Nov. 20, 2018 |
Amount of Facility | $ 25,000 |
Interest Rate | 2.27% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 800 |
Entergy Texas [Member] | Credit Facility Of One Hundred And Fifty Million [Member] | |
Expiration Date | Aug. 14, 2021 |
Amount of Facility | $ 150,000 |
Interest Rate | 2.02% |
Amount Drawn/ Outstanding | $ 0 |
Letters of Credit Outstanding, Amount | $ 4,700 |
Revolving Credit Facilities, 40
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Short-Term Borrowings And The Outstanding Short-Term Borrowings) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Entergy Arkansas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | $ 250 |
Borrowings | 49 |
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 | 100 |
Borrowings | 0 |
Entergy Texas [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | 12 |
System Energy [Member] | |
Short-term borrowings and the outstanding short-term borrowings | |
Authorized | 200 |
Borrowings | $ 0 |
Revolving Credit Facilities, 41
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Issuance Of Commercial Paper To Finance Acquisition And Ownership Of Nuclear Fuel) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Amount Drawn/ Outstanding | $ 180 |
Entergy Arkansas VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | May 16, 2019 |
Amount of Facility | $ 80 |
Weighted Average Interest Rate on Borrowings | 2.15% |
Amount Drawn/ Outstanding | $ 47.4 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
System Energy VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | May 16, 2019 |
Amount of Facility | $ 120 |
Weighted Average Interest Rate on Borrowings | 2.13% |
Amount Drawn/ Outstanding | $ 80 |
Line of credit facility commitment fee as a percentage of undrawn commitment amount | 0.10% |
Entergy Louisiana River Bend VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | May 16, 2019 |
Amount of Facility | $ 105 |
Amount Drawn/ Outstanding | $ 0 |
Entergy Louisiana Waterford VIE [Member] | |
Issuance of commercial paper to finance the acquisition and ownership of nuclear fuel | |
Expiration Date | May 16, 2019 |
Amount of Facility | $ 85 |
Weighted Average Interest Rate on Borrowings | 2.14% |
Amount Drawn/ Outstanding | $ 42 |
Revolving Credit Facilities, 42
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Notes Payable By Variable Interest Entities) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Two Point Six Two Percent Series K Notes Due December Two Thousand Seventeen [Member] | Entergy Arkansas VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 2.62% |
Amount | $ 60 |
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 | |
Stated interest rate (percentage) | 3.65% |
Amount | $ 90 |
Three Point Two Five Percent Series Q Due July Two Thousand Seventeen [Member] | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.25% |
Amount | $ 75 |
Three Point Three Eight Percent Series R Notes Due August Two Thousand Twenty [Member] | Entergy Louisiana River Bend VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.38% |
Amount | $ 70 |
Three Point Two Five Percent Series G Due July Two Thousand Seventeen [Member] | Entergy Louisiana Waterford VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.25% |
Amount | $ 25 |
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 | |
Stated interest rate (percentage) | 3.92% |
Amount | $ 40 |
Four Point Zero Two Percent Series H Notes Due February Two Thousand Seventeen [Member] | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 4.02% |
Amount | $ 50 |
Three Point Seven Eight Percent Series I Notes Due October Two Thousand Eighteen [Member] | System Energy VIE [Member] | |
Notes payable by variable interest entities | |
Stated interest rate (percentage) | 3.78% |
Amount | $ 85 |
Revolving Credit Facilities, 43
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Book Value And The Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | $ 15,424,412 | $ 13,578,511 |
Long-term Debt, Book Value | 14,611,903 | 13,325,930 |
Notes payable to power authority | 35,000 | |
Entergy Arkansas [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 2,791,291 | 2,498,108 |
Long-term Debt, Book Value | 2,796,059 | 2,629,839 |
Long term DOE obligations | 182,000 | 181,000 |
Entergy Louisiana [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 5,848,345 | 5,018,786 |
Long-term Debt, Book Value | 5,407,897 | 4,836,162 |
Capital Lease Obligations | 57,000 | 109,000 |
Entergy Mississippi [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 1,409,719 | 1,087,326 |
Long-term Debt, Book Value | 1,344,305 | 1,045,085 |
Entergy New Orleans [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 502,194 | 351,040 |
Long-term Debt, Book Value | 459,295 | 342,880 |
Entergy Texas [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 1,683,655 | 1,590,616 |
Long-term Debt, Book Value | 1,521,270 | 1,451,967 |
System Energy [Member] | ||
Short-term Debt [Line Items] | ||
Long-term Debt, Fair Value | 543,933 | 552,762 |
Long-term Debt, Book Value | 551,023 | 572,667 |
Capital Lease Obligations | $ 34,000 | $ 34,000 |
Revolving Credit Facilities, 44
Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt Revolving Credit Facilities, Lines Of Credit, Short-Term Borrowings, And Long-Term Debt (Uncommitted Standby Letter of Credit Facilities to Support MISO Obligations) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Credit Facility Of Twenty Five Million [Member] | Entergy Arkansas [Member] | |
Uncommitted Credit Facility | $ 25 |
Letter of Credit Fee, Percentage | 0.70% |
Letters of Credit Outstanding, Amount | $ 1 |
Credit Facility of Fifty Million [Member] | Entergy Texas [Member] | |
Uncommitted Credit Facility | $ 50 |
Letter of Credit Fee, Percentage | 0.70% |
Letters of Credit Outstanding, Amount | $ 16 |
Credit Facility of Forty Million [Member] | Entergy Mississippi [Member] | |
Uncommitted Credit Facility | $ 40 |
Letter of Credit Fee, Percentage | 0.70% |
Letters of Credit Outstanding, Amount | $ 10.2 |
Credit Facility of Fifteen Million [Member] | Entergy New Orleans [Member] | |
Uncommitted Credit Facility | $ 15 |
Letter of Credit Fee, Percentage | 0.75% |
Letters of Credit Outstanding, Amount | $ 12.9 |
Credit Facility Of One Hundred Twenty Five Million [Member] | Entergy Louisiana [Member] | |
Uncommitted Credit Facility | $ 125 |
Letter of Credit Fee, Percentage | 0.70% |
Letters of Credit Outstanding, Amount | $ 16.4 |
Stock Based Compensation (Narra
Stock Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Jan. 28, 2016 | Jan. 31, 2016 | Mar. 31, 2016 | Sep. 30, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock option granted (in shares) | 696,900 | |||
Weighted-average grant-date fair value of options granted (in dollars per share) | $ 7.40 | |||
Stock options outstanding | 7,152,077 | |||
Weighted-average exercise price of stock options outstanding (in dollars per share) | $ 84.93 | |||
Intrinsic value in the money stock options | $ 17.7 | |||
Vesting period of awards under Entergy's plans, years | 3 years | |||
Equity Ownership And Long Term Cash Incentive Plan Two Thousand Eleven [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Long-term incentive plan awards | 199,800 | |||
LTIP awards granted value (in dollars per share) | $ 84.52 | |||
Restricted Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock awards granted | 370,000 | |||
Restricted stock awards granted value (in dollars per share) | $ 70.56 |
Stock-Based Compensation (Finan
Stock-Based Compensation (Financial Information For Stock Options) (Details) - Parent Company [Member] - Employee Stock Option [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 1.1 | $ 1.1 | $ 3.3 | $ 3.2 |
Tax benefit recognized in Entergy's net income | 0.5 | 0.4 | 1.3 | 1.2 |
Compensation cost capitalized as part of fixed assets and inventory | $ 0.2 | $ 0.1 | $ 0.6 | $ 0.5 |
Stock-Based Compensation (Fin47
Stock-Based Compensation (Financial Information For Other Equity Plans) (Details) - Parent Company [Member] - Restricted Stock Awards [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Employee service share-based compensation, aggregate disclosures | ||||
Compensation expense included in Entergy's net income | $ 8.5 | $ 8.6 | $ 25.4 | $ 24.7 |
Tax benefit recognized in Entergy's net income | 3.3 | 3.3 | 9.8 | 9.5 |
Compensation cost capitalized as part of fixed assets and inventory | $ 2 | $ 1.8 | $ 5.7 | $ 4.9 |
Retirement And Other Postreti48
Retirement And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2016 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Expected current year pension contributions | $ 307,600 | ||||
Subsequent Event [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Pension contributions made through Year To Date | $ 390,100 | ||||
Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Expected current year pension contributions | 65,882 | ||||
Remaining estimated pension contributions to be made in current year | $ 17,119 | 17,119 | |||
Entergy Arkansas [Member] | Subsequent Event [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Pension contributions made through Year To Date | 83,001 | ||||
Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Expected current year pension contributions | 12,649 | ||||
Remaining estimated pension contributions to be made in current year | 3,271 | 3,271 | |||
Entergy Texas [Member] | Subsequent Event [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Pension contributions made through Year To Date | $ 15,920 | ||||
Non-Qualified Pension Plans [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Settlement Charge Associated With Out Of Plan Payment Of Lump Sum Benefits | 3,700 | ||||
Non-Qualified Pension Plans [Member] | Parent Company [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 8,000 | $ 4,500 | 16,500 | $ 13,400 | |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | 105 | 113 | 317 | 339 | |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Net periodic benefit costs | $ 126 | $ 149 | $ 380 | $ 447 |
Retirement And Other Postreti49
Retirement And Other Postretirement Benefits (Components Of Qualified Net Pension Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Pension Plans Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | $ 35,811 | $ 43,762 | $ 107,433 | $ 131,286 |
Interest cost on projected benefit obligation | 65,403 | 75,694 | 196,209 | 227,082 |
Expected return on assets | (97,366) | (98,655) | (292,098) | (295,965) |
Amortization of prior service cost (credit) | 270 | 390 | 810 | 1,170 |
Amortization of loss | 48,824 | 58,981 | 146,472 | 176,943 |
Defined Benefit Plan, Special Termination Benefits | 0 | 76 | ||
Net other postretirement benefit cost | 52,942 | 80,172 | 158,826 | 240,592 |
Pension Plans Defined Benefit [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 5,181 | 6,661 | 15,543 | 19,983 |
Interest cost on projected benefit obligation | 13,055 | 15,471 | 39,165 | 46,413 |
Expected return on assets | (19,772) | (20,026) | (59,316) | (60,078) |
Amortization of loss | 10,936 | 13,564 | 32,808 | 40,692 |
Net other postretirement benefit cost | 9,400 | 15,670 | 28,200 | 47,010 |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 7,049 | 8,599 | 21,147 | 25,797 |
Interest cost on projected benefit obligation | 14,870 | 17,367 | 44,610 | 52,101 |
Expected return on assets | (22,096) | (22,701) | (66,288) | (68,103) |
Amortization of loss | 11,946 | 14,951 | 35,838 | 44,853 |
Net other postretirement benefit cost | 11,769 | 18,216 | 35,307 | 54,648 |
Pension Plans Defined Benefit [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,562 | 1,982 | 4,686 | 5,946 |
Interest cost on projected benefit obligation | 3,811 | 4,502 | 11,433 | 13,506 |
Expected return on assets | (5,981) | (6,105) | (17,943) | (18,315) |
Amortization of loss | 2,985 | 3,724 | 8,955 | 11,172 |
Net other postretirement benefit cost | 2,377 | 4,103 | 7,131 | 12,309 |
Pension Plans Defined Benefit [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 656 | 849 | 1,968 | 2,547 |
Interest cost on projected benefit obligation | 1,814 | 2,108 | 5,442 | 6,324 |
Expected return on assets | (2,687) | (2,725) | (8,061) | (8,175) |
Amortization of loss | 1,615 | 2,013 | 4,845 | 6,039 |
Net other postretirement benefit cost | 1,398 | 2,245 | 4,194 | 6,735 |
Pension Plans Defined Benefit [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,416 | 1,645 | 4,248 | 4,935 |
Interest cost on projected benefit obligation | 3,557 | 4,354 | 10,671 | 13,062 |
Expected return on assets | (6,062) | (6,222) | (18,186) | (18,666) |
Amortization of loss | 2,340 | 3,238 | 7,020 | 9,714 |
Net other postretirement benefit cost | 1,251 | 3,015 | 3,753 | 9,045 |
Pension Plans Defined Benefit [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,566 | 1,957 | 4,698 | 5,871 |
Interest cost on projected benefit obligation | 2,992 | 3,493 | 8,976 | 10,479 |
Expected return on assets | (4,459) | (4,568) | (13,377) | (13,704) |
Amortization of loss | 2,604 | 3,264 | 7,812 | 9,792 |
Net other postretirement benefit cost | 2,703 | 4,146 | 8,109 | 12,438 |
Other Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 8,073 | 11,326 | 24,219 | 33,978 |
Interest cost on projected benefit obligation | 14,083 | 17,984 | 42,249 | 53,952 |
Expected return on assets | (10,455) | (11,344) | (31,365) | (34,032) |
Amortization of prior service cost (credit) | (11,373) | (9,320) | (34,119) | (27,960) |
Amortization of loss | 4,554 | 7,893 | 13,662 | 23,679 |
Net other postretirement benefit cost | 4,882 | 16,539 | 14,646 | 49,617 |
Other Postretirement [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 978 | 1,739 | 2,934 | 5,217 |
Interest cost on projected benefit obligation | 2,324 | 3,130 | 6,972 | 9,390 |
Expected return on assets | (4,464) | (4,798) | (13,392) | (14,394) |
Amortization of prior service cost (credit) | (1,368) | (610) | (4,104) | (1,830) |
Amortization of loss | 1,064 | 1,339 | 3,192 | 4,017 |
Net other postretirement benefit cost | (1,466) | 800 | (4,398) | 2,400 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 1,869 | 2,474 | 5,607 | 7,422 |
Interest cost on projected benefit obligation | 3,260 | 4,078 | 9,780 | 12,234 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | (1,947) | (1,867) | (5,841) | (5,601) |
Amortization of loss | 732 | 1,780 | 2,196 | 5,340 |
Net other postretirement benefit cost | 3,914 | 6,465 | 11,742 | 19,395 |
Other Postretirement [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 386 | 507 | 1,158 | 1,521 |
Interest cost on projected benefit obligation | 709 | 859 | 2,127 | 2,577 |
Expected return on assets | (1,379) | (1,542) | (4,137) | (4,626) |
Amortization of prior service cost (credit) | (234) | (229) | (702) | (687) |
Amortization of loss | 223 | 215 | 669 | 645 |
Net other postretirement benefit cost | (295) | (190) | (885) | (570) |
Other Postretirement [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 156 | 205 | 468 | 615 |
Interest cost on projected benefit obligation | 448 | 652 | 1,344 | 1,956 |
Expected return on assets | (1,154) | (1,201) | (3,462) | (3,603) |
Amortization of prior service cost (credit) | (186) | (177) | (558) | (531) |
Amortization of loss | 37 | 118 | 111 | 354 |
Net other postretirement benefit cost | (699) | (403) | (2,097) | (1,209) |
Other Postretirement [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 398 | 500 | 1,194 | 1,500 |
Interest cost on projected benefit obligation | 1,039 | 1,342 | 3,117 | 4,026 |
Expected return on assets | (2,394) | (2,588) | (7,182) | (7,764) |
Amortization of prior service cost (credit) | (681) | (681) | (2,043) | (2,043) |
Amortization of loss | 537 | 685 | 1,611 | 2,055 |
Net other postretirement benefit cost | (1,101) | (742) | (3,303) | (2,226) |
Other Postretirement [Member] | System Energy [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 334 | 470 | 1,002 | 1,410 |
Interest cost on projected benefit obligation | 529 | 628 | 1,587 | 1,884 |
Expected return on assets | (814) | (911) | (2,442) | (2,733) |
Amortization of prior service cost (credit) | (393) | (366) | (1,179) | (1,098) |
Amortization of loss | 287 | 300 | 861 | 900 |
Net other postretirement benefit cost | (57) | 121 | (171) | 363 |
Non-Qualified Pension Plans [Member] | Parent Company [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 8,000 | 4,500 | 16,500 | 13,400 |
Non-Qualified Pension Plans [Member] | Entergy Arkansas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 105 | 113 | 317 | 339 |
Non-Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 58 | 68 | 176 | 204 |
Non-Qualified Pension Plans [Member] | Entergy Mississippi [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 60 | 59 | 179 | 177 |
Non-Qualified Pension Plans [Member] | Entergy New Orleans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | 16 | 16 | 48 | 48 |
Non-Qualified Pension Plans [Member] | Entergy Texas [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net other postretirement benefit cost | $ 126 | $ 149 | $ 380 | $ 447 |
Retirement And Other Postreti50
Retirement And Other Postretirement Benefits (Expected Employer Contributions) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2016 | |
Change in Plan Assets | ||
Expected current year pension contributions | $ 307,600 | |
Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | $ 390,100 | |
Entergy Arkansas [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 65,882 | |
Remaining estimated pension contributions to be made in current year | 17,119 | |
Entergy Arkansas [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | 83,001 | |
Entergy Louisiana [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 67,116 | |
Remaining estimated pension contributions to be made in current year | 17,306 | |
Entergy Louisiana [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | 84,422 | |
Entergy Mississippi [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 15,981 | |
Remaining estimated pension contributions to be made in current year | 3,987 | |
Entergy Mississippi [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | 19,968 | |
Entergy New Orleans [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 8,456 | |
Remaining estimated pension contributions to be made in current year | 2,253 | |
Entergy New Orleans [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | 10,709 | |
Entergy Texas [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 12,649 | |
Remaining estimated pension contributions to be made in current year | 3,271 | |
Entergy Texas [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | 15,920 | |
System Energy [Member] | ||
Change in Plan Assets | ||
Expected current year pension contributions | 16,120 | |
Remaining estimated pension contributions to be made in current year | $ 4,378 | |
System Energy [Member] | Subsequent Event [Member] | ||
Change in Plan Assets | ||
Pension contributions made through Year To Date | $ 20,498 |
Retirement And Other Postreti51
Retirement And Other Postretirement Benefits (Reclassification Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Total | ||||
Parent Company [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | $ 7,354 | 5,985 | $ 22,064 | $ 17,956 |
Amortization of loss | (15,183) | (17,588) | (45,535) | (52,764) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (1,279) | (1,279) | ||
Total | (9,108) | (11,603) | (24,750) | (34,808) |
Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 1,947 | 1,866 | 5,841 | 5,599 |
Amortization of loss | (1,570) | (2,536) | (4,712) | (7,606) |
Total | 377 | (670) | 1,129 | (2,007) |
Pension Plans Defined Benefit [Member] | Parent Company [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | (270) | (389) | (810) | (1,167) |
Amortization of loss | (12,482) | (12,627) | (37,446) | (37,881) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | 0 | 0 | ||
Total | (12,752) | (13,016) | (38,256) | (39,048) |
Pension Plans Defined Benefit [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Amortization of loss | (836) | (751) | (2,508) | (2,253) |
Total | (836) | (751) | (2,508) | (2,253) |
Other Postretirement [Member] | Parent Company [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 7,738 | 6,482 | 23,214 | 19,446 |
Amortization of loss | (2,063) | (4,409) | (6,189) | (13,227) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | 0 | 0 | ||
Total | 5,675 | 2,073 | 17,025 | 6,219 |
Other Postretirement [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 1,947 | 1,867 | 5,841 | 5,601 |
Amortization of loss | (732) | (1,780) | (2,196) | (5,338) |
Total | 1,215 | 87 | 3,645 | 263 |
Non-Qualified Pension Plans [Member] | Parent Company [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | (114) | (108) | (340) | (323) |
Amortization of loss | (638) | (552) | (1,900) | (1,656) |
Recognized Net Gain (Loss) Due To Settlements, Pre Tax | (1,279) | (1,279) | ||
Total | (2,031) | (660) | (3,519) | (1,979) |
Non-Qualified Pension Plans [Member] | Entergy Louisiana [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost | 0 | (1) | 0 | (2) |
Amortization of loss | (2) | (5) | (8) | (15) |
Total | $ (2) | $ (6) | $ (8) | $ (17) |
Business Segment Information (S
Business Segment Information (Segment Financial Information) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |||
Segment Financial Information | |||||||
Operating revenues | $ 3,124,703,000 | $ 3,371,406,000 | $ 8,197,118,000 | $ 9,004,728,000 | |||
Income taxes (benefits) | 257,906,000 | (367,665,000) | 148,879,000 | (117,412,000) | |||
Consolidated net income (loss) | 393,204,000 | (718,233,000) | 1,201,035,000 | [1] | (261,583,000) | [1] | |
Assets | 47,738,181,000 | 47,738,181,000 | $ 44,647,681,000 | ||||
Utility [Member] | |||||||
Segment Financial Information | |||||||
Operating revenues | 2,649,392,000 | 2,849,681,000 | 6,855,664,000 | 7,401,136,000 | |||
Income taxes (benefits) | 255,603,000 | 198,945,000 | 359,653,000 | 407,993,000 | |||
Consolidated net income (loss) | 447,782,000 | 364,265,000 | 1,027,751,000 | 796,051,000 | |||
Assets | 40,542,593,000 | 40,542,593,000 | 38,356,906,000 | ||||
Entergy Wholesale Commodities [Member] | |||||||
Segment Financial Information | |||||||
Operating revenues | 475,345,000 | 521,746,000 | 1,341,534,000 | 1,603,643,000 | |||
Income taxes (benefits) | 6,115,000 | (554,513,000) | (176,626,000) | (487,622,000) | |||
Consolidated net income (loss) | 8,221,000 | (1,031,410,000) | 338,651,000 | (911,524,000) | |||
Assets | 9,100,779,000 | 9,100,779,000 | 8,210,183,000 | ||||
All Other [Member] | |||||||
Segment Financial Information | |||||||
Operating revenues | 0 | 0 | 0 | 0 | |||
Income taxes (benefits) | (3,812,000) | (12,097,000) | (34,148,000) | (37,783,000) | |||
Consolidated net income (loss) | (30,901,000) | (19,190,000) | (69,672,000) | (50,415,000) | |||
Assets | 1,339,879,000 | 1,339,879,000 | (461,505,000) | ||||
Eliminations [Member] | |||||||
Segment Financial Information | |||||||
Operating revenues | (34,000) | (21,000) | (80,000) | (51,000) | |||
Income taxes (benefits) | 0 | 0 | 0 | 0 | |||
Consolidated net income (loss) | (31,898,000) | $ (31,898,000) | (95,695,000) | $ (95,695,000) | |||
Assets | $ (3,245,070,000) | $ (3,245,070,000) | $ (1,457,903,000) | ||||
[1] | (a) Consolidated net income and preferred dividend requirements of subsidiaries for 2016 and 2015 include $15.6 million and $9.6 million, respectively, of preferred dividends on subsidiaries’ preferred stock without sinking fund that is not presented within equity. |
Risk Management and Fair Valu53
Risk Management and Fair Values (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($)MMBTUMWh | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)MMBTUMWhcounterparty | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($)counterparty | |
Risk Management and Fair Values [Abstract] | |||||
Letters of Credit Held | $ 49 | $ 49 | |||
Cash collateral posted | 4 | 4 | $ 9 | ||
Derivative, Collateral, Obligation to Return Cash | 4 | 4 | $ 68 | ||
Cash flow hedges relating to power sales as part of net unrealized gains | 85 | ||||
Reclassified from accumulated other comprehensive income (OCI) to operating revenues | $ 66 | ||||
Number of Derivative Contract Counterparties in a Liability Position | counterparty | 0 | 2 | |||
Maturity of cash flow hedges, Tax | $ 13 | $ 30 | $ 83 | $ 61 | |
Maximum length of time over which Company is currently hedging the variability in future cash flows for forecasted power transactions, years | 2 years 3 months | ||||
Planned generation sold forward from non utility nuclear power plants for the remainder of the period | 90.00% | ||||
Planned Generation Sold Forward under financial derivatives | 61.00% | 61.00% | |||
Total planned generation for remainder of the period | MWh | 9,000,000 | ||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 25,604,000 | 25,604,000 | |||
Total volume of fixed transmission rights outstanding | MWh | 74,491,000 | 74,491,000 | |||
Change in cash flow hedges due to ineffectiveness | $ 6.4 | (0.9) | $ 6.1 | 0 | |
Dollar amount of hedge contract in a liability position | $ 2 | ||||
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset and Liability Unrealized Gains (Loss) Included in Earnings | $ 1 | $ 12 | $ 1 | $ 5 | |
Entergy Arkansas [Member] | |||||
Risk Management and Fair Values [Abstract] | |||||
Total volume of fixed transmission rights outstanding | MWh | 16,859,000 | 16,859,000 | |||
Entergy Louisiana [Member] | |||||
Risk Management and Fair Values [Abstract] | |||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 18,780,000 | 18,780,000 | |||
Total volume of fixed transmission rights outstanding | MWh | 31,476,000 | 31,476,000 | |||
Entergy Mississippi [Member] | |||||
Risk Management and Fair Values [Abstract] | |||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 5,750,000 | 5,750,000 | |||
Total volume of fixed transmission rights outstanding | MWh | 12,374,000 | 12,374,000 | |||
Entergy New Orleans [Member] | |||||
Risk Management and Fair Values [Abstract] | |||||
Total volume of natural gas swaps outstanding (MMBtu) | MMBTU | 1,074,000 | 1,074,000 | |||
Total volume of fixed transmission rights outstanding | MWh | 3,640,000 | 3,640,000 | |||
Entergy Texas [Member] | |||||
Risk Management and Fair Values [Abstract] | |||||
Total volume of fixed transmission rights outstanding | MWh | 9,745,000 | 9,745,000 |
Risk Management and Fair Valu54
Risk Management and Fair Values (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |||
Assets: | |||||
Derivative asset as hedging instrument offset | $ (4) | $ (68) | |||
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative liability as hedging instrument offset | [1] | (2) | (2) | ||
Derivative Liability, Fair Value, Gross Liability | [2] | 2 | 2 | ||
Derivative Liability | [3],[4] | 0 | 0 | ||
Other Non-Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative liability as hedging instrument offset | [1] | (3) | |||
Derivative Liability, Fair Value, Gross Liability | [2] | 3 | |||
Derivative Liability | [3],[4] | 0 | |||
Other Deferred Debits And Other Assets [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset, Fair Value, Gross Asset | [2] | 20 | 17 | ||
Derivative asset as hedging instrument offset | [1] | (5) | (2) | ||
Derivative Asset | [3],[4] | 15 | 15 | ||
Other Deferred Debits And Other Assets [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset, Fair Value, Gross Asset | [2] | 6 | |||
Derivative asset as hedging instrument offset | [1] | (1) | |||
Derivative Asset | [3],[4] | 5 | |||
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset, Fair Value, Gross Asset | [2] | 67 | 173 | ||
Derivative asset as hedging instrument offset | [1] | (17) | (34) | ||
Derivative Asset | [3],[4] | 50 | 139 | ||
Prepayments And Other [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset, Fair Value, Gross Asset | [2] | 42 | 54 | ||
Derivative asset as hedging instrument offset | [1] | (17) | (13) | ||
Derivative Asset | [3],[4] | 25 | 41 | ||
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, Gross Asset | [2] | 32 | 24 | ||
Derivative asset as hedging instrument offset | [1] | (1) | (1) | ||
Derivative Asset | [3],[4] | 31 | 23 | ||
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative liability as hedging instrument offset | [1] | (1) | (14) | ||
Derivative Liability, Fair Value, Gross Liability | [2] | 1 | 14 | ||
Derivative Liability | [3],[4] | 0 | 0 | ||
Other Current Liabilities [Member] | Electricity Swaps And Options [Member] | Entergy Wholesale Commodities [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative liability as hedging instrument offset | [1] | (34) | (32) | ||
Derivative Liability, Fair Value, Gross Liability | [2] | 34 | 38 | ||
Derivative Liability | [3],[4] | 0 | 6 | ||
Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Utility [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative liability as hedging instrument offset | 0 | [2] | 0 | [1] | |
Derivative Liability, Fair Value, Gross Liability | [2] | 1 | 9 | ||
Derivative Liability | [3],[4] | 1 | 9 | ||
Entergy Louisiana [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset | 12.4 | 8.5 | |||
Entergy Louisiana [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative Liability | 0.4 | 7 | |||
Entergy Mississippi [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset | 4 | 2.4 | |||
Entergy Mississippi [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative Liability | 0.1 | 1.3 | |||
Entergy New Orleans [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset | 1.6 | 1.5 | |||
Entergy New Orleans [Member] | Other Current Liabilities [Member] | Natural Gas Swaps [Member] | Not Designated As Hedging Instrument [Member] | |||||
Liabilities: | |||||
Derivative Liability | 0.5 | ||||
Entergy Arkansas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset | 8.1 | 7.9 | |||
Entergy Texas [Member] | Prepayments And Other [Member] | Fixed Transmission Rights (FTRs) [Member] | Not Designated As Hedging Instrument [Member] | |||||
Assets: | |||||
Derivative Asset | $ 5.1 | $ 2.2 | |||
[1] | Represents the netting of fair value balances with the same counterparty | ||||
[2] | Represents the gross amounts of recognized assets/liabilities | ||||
[3] | Excludes cash collateral in the amount of $4 million posted and $4 million held as of September 30, 2016 and $9 million posted and $68 million held as of December 31, 2015. Also excludes letters of credit in the amount of $49 million held as of September 30, 2016. | ||||
[4] | Represents the net amounts of assets /liabilities presented on the Entergy Consolidated Balance Sheets |
Risk Management and Fair Valu55
Risk Management and Fair Values (Derivative Instruments Designated as Cash Flow Hedges On Consolidated Statements Of Income) (Details) - Competitive Businesses Operating Revenues [Member] - Electricity Swaps And Options [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Effect of Derivative instruments designated as cash flow hedges on consolidated statements of income | ||||
Amount of gain (loss) recognized in AOCI (effective portion) | $ 70 | $ 49 | $ 156 | $ 154 |
Amount of gain reclassified from accumulated OCI into income (effective portion) | $ 37 | $ 86 | $ 237 | $ 177 |
Risk Management and Fair Valu56
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Competitive Businesses Operating Revenues [Member] | Electricity Swaps And Options [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | $ (9) | $ 0 | $ 6 | $ 1 |
Amount of gain (loss) recorded in income | 0 | (3) | (9) | (42) |
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 [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | 25 | (13) | (5) | (29) |
Purchased Power Expense [Member] | Fixed Transmission Rights (FTRs) [Member] | ||||
Effect Of Derivative Instruments Not Designated As Hedging Instruments On The Consolidated Statements Of Income [Line Items] | ||||
Amount of gain (loss) recognized in AOCI | 0 | 0 | 0 | 0 |
Amount of gain (loss) recorded in income | 37 | 51 | 96 | 130 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 7.1 | 13.9 | 20.3 | 48.6 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 19.5 | (10.2) | (4.6) | (23.7) |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 20.4 | 17.9 | 52.5 | 49.7 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 5.3 | (1.9) | 0.3 | (4.3) |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 6.7 | 6.7 | 11.1 | 13.9 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | (0.4) | (0.5) | (0.9) | |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | 0.9 | 1.5 | 2.8 | 7.5 |
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 [Line Items] | ||||
Amount of gain (loss) recorded in income | $ 1.8 | $ 10.9 | $ 8.7 | $ 10.7 |
Risk Management and Fair Valu57
Risk Management and Fair Values (Assets And Liabilities At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | $ 5,671 | $ 5,350 | |
Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 1,206 | 1,287 | |
Liabilities at fair value on a recurring basis | |||
Total | 15 | ||
Assets, Fair Value Disclosure | 7,490 | 7,330 | |
Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1 | 9 | |
Power Contracts Liabilities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 6 | ||
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 451 | 468 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 2,291 | 2,155 |
Common trust funds valued using Net Asset Value [Domain] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1],[2] | 2,929 | 2,727 |
Power Contracts Assets [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 95 | 195 | |
Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 433 | 425 | |
Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 54 | 50 | |
Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31 | 23 | |
Fair Value Inputs Level 1 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 1,206 | 1,287 | |
Liabilities at fair value on a recurring basis | |||
Total | 9 | ||
Assets, Fair Value Disclosure | 3,160 | 3,291 | |
Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 1 | 9 | |
Fair Value Inputs Level 1 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 451 | 468 |
Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 1,016 | 1,061 |
Fair Value Inputs Level 1 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 433 | 425 | |
Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 54 | 50 | |
Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Total | 0 | ||
Assets, Fair Value Disclosure | 1,275 | 1,094 | |
Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 1,275 | 1,094 |
Fair Value, Inputs, Level 2 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Storm Reserve Escrow Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Total | 6 | ||
Assets, Fair Value Disclosure | 126 | 218 | |
Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Power Contracts Liabilities [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 6 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Power Contracts Assets [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 95 | 195 | |
Fair Value, Inputs, Level 3 [Member] | Storm Reserve Escrow Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Securitization Recovery Trust Account [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31 | 23 | |
Entergy Louisiana [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 1,124.8 | 1,042.3 | |
Entergy Louisiana [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 57.6 | 34.8 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1,510.1 | 1,379.2 | |
Entergy Louisiana [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.4 | 7 | |
Entergy Louisiana [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 5.7 | 7.1 |
Entergy Louisiana [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 440.1 | 409.9 |
Entergy Louisiana [Member] | Common trust funds valued using Net Asset Value [Domain] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 679 | 625.3 |
Entergy Louisiana [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 305.5 | 290.4 | |
Entergy Louisiana [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 9.8 | 3.2 | |
Entergy Louisiana [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 12.4 | 8.5 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 57.6 | 34.8 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 510.1 | 496.6 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.4 | 7 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 5.7 | 7.1 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 131.5 | 161.1 |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 305.5 | 290.4 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 9.8 | 3.2 | |
Entergy Louisiana [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 308.6 | 248.8 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 308.6 | 248.8 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 12.4 | 8.5 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Louisiana [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 12.4 | 8.5 | |
Entergy Arkansas [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 823.8 | 771.3 | |
Entergy Arkansas [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 846.7 | 795.6 | |
Entergy Arkansas [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 3.7 | 3 |
Entergy Arkansas [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 318.9 | 303.9 |
Entergy Arkansas [Member] | Common trust funds valued using Net Asset Value [Domain] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 501.2 | 464.4 |
Entergy Arkansas [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 7.1 | 12.2 | |
Entergy Arkansas [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 7.7 | 4.2 | |
Entergy Arkansas [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 8.1 | 7.9 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 121.6 | 129.9 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 3.7 | 3 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 103.1 | 110.5 |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 7.1 | 12.2 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 7.7 | 4.2 | |
Entergy Arkansas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 215.8 | 193.4 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 215.8 | 193.4 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 8.1 | 7.9 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [3] | 0 | 0 |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Arkansas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 8.1 | 7.9 | |
Entergy Mississippi [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 307.3 | 144.2 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 343.1 | 188.3 | |
Entergy Mississippi [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.1 | 1.3 | |
Entergy Mississippi [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31.8 | 41.7 | |
Entergy Mississippi [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 4 | 2.4 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 307.3 | 144.2 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 339.1 | 185.9 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.1 | 1.3 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31.8 | 41.7 | |
Entergy Mississippi [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 4 | 2.4 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Mississippi [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 4 | 2.4 | |
Entergy New Orleans [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 37.2 | 87.8 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 132.3 | 174.9 | |
Entergy New Orleans [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.5 | ||
Entergy New Orleans [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 88.4 | 81 | |
Entergy New Orleans [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 5.1 | 4.6 | |
Entergy New Orleans [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 1.6 | 1.5 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 37.2 | 87.8 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 130.7 | 173.4 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0.5 | ||
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 88.4 | 81 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 5.1 | 4.6 | |
Entergy New Orleans [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 1.6 | 1.5 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Gas Hedge Contracts [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Liabilities, Fair Value Disclosure on Recurring Basis | 0 | ||
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Storm Reserve Escrow Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy New Orleans [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 1.6 | 1.5 | |
Entergy Texas [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 36.5 | 40.4 | |
Entergy Texas [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31.4 | 38.2 | |
Entergy Texas [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 5.1 | 2.2 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 31.4 | 38.2 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 31.4 | 38.2 | |
Entergy Texas [Member] | Fair Value Inputs Level 1 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 5.1 | 2.2 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | Securitization Recovery Trust Account [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 0 | 0 | |
Entergy Texas [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed Transmission Rights (FTRs) [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 5.1 | 2.2 | |
System Energy [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | 764.9 | 701.5 | |
System Energy [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 190.2 | 222 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 955.1 | 923.5 | |
System Energy [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 1.2 | 1.8 |
System Energy [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 308.6 | 277.8 |
System Energy [Member] | Common trust funds valued using Net Asset Value [Domain] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 455.1 | 421.9 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 190.2 | 222 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 437.9 | 442.4 | |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 1.2 | 1.8 |
System Energy [Member] | Fair Value Inputs Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 246.5 | 218.6 |
System Energy [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 62.1 | 59.2 | |
System Energy [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 0 | 0 |
System Energy [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 62.1 | 59.2 |
System Energy [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Temporary cash investments | 0 | 0 | |
Liabilities at fair value on a recurring basis | |||
Assets, Fair Value Disclosure | 0 | 0 | |
System Energy [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [1] | 0 | 0 |
System Energy [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Assets at fair value on a recurring basis | |||
Assets other than temporary cash investments | [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 herein 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.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 three months ended September 30, 2016 and 2015: 2016 2015 Power Contracts FTRs Power Contracts FTRs (In Millions)Balance as of July 1,$66 $46 $204 $67Total gains (losses) for the period (a) Included in earnings6 — (2) —Included in OCI70 — 49 —Included as a regulatory liability/asset— 22 — 31Settlements(47) (37) (88) (51)Balance as of September 30,$95 $31 $163 $47 | ||
[3] | (a)The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios.(b)Common trust funds are not publicly quoted, and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date. |
Risk Management and Fair Valu58
Risk Management and Fair Values (Reconciliation Of Changes In The Net Assets (Liabilities) For The Fair Value Of Derivatives Classified As Level 3 In The Fair Value Hierarchy) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Issuance of Fixed Transmission Rights | $ 0 | $ 0 | ||
Electricity Swaps And Options [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | $ 66 | $ 204 | 189 | 215 |
Total gains (losses) for the period (a) | 6 | (2) | (3) | (15) |
Unrealized losses included in OCI | 70 | 49 | 156 | 154 |
Included as a regulatory liability/asset | 0 | 0 | 0 | 0 |
Purchases | 0 | 14 | ||
Settlements | (47) | (88) | (247) | (205) |
Balance as of September 30, | 95 | 163 | 95 | 163 |
Fixed Transmission Rights (FTRs) [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 46 | 67 | 23 | 47 |
Total gains (losses) for the period (a) | 0 | 0 | 0 | (1) |
Unrealized losses included in OCI | 0 | 0 | 0 | 0 |
Included as a regulatory liability/asset | 22 | 31 | 49 | 51 |
Issuance of Fixed Transmission Rights | 55 | 80 | ||
Purchases | 0 | 0 | ||
Settlements | (37) | (51) | (96) | (130) |
Balance as of September 30, | 31 | 47 | 31 | 47 |
Fixed Transmission Rights (FTRs) [Member] | Entergy Arkansas [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 14 | 9.1 | 7.9 | 0.7 |
Issuance of Fixed Transmission Rights | 18.8 | 7 | ||
Unrealized gains included as a regulatory liability/asset | 1.2 | 16.5 | 1.7 | 52.6 |
Settlements | (7.1) | (13.9) | (20.3) | (48.6) |
Balance as of September 30, | 8.1 | 11.7 | 8.1 | 11.7 |
Fixed Transmission Rights (FTRs) [Member] | Entergy Louisiana [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 16.2 | 37.3 | 8.5 | 25.5 |
Issuance of Fixed Transmission Rights | 18.1 | 48.3 | ||
Unrealized gains included as a regulatory liability/asset | 16.6 | 3 | 38.3 | (1.7) |
Settlements | (20.4) | (17.9) | (52.5) | (49.7) |
Balance as of September 30, | 12.4 | 22.4 | 12.4 | 22.4 |
Fixed Transmission Rights (FTRs) [Member] | Entergy Mississippi [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 5.6 | 4.9 | 2.4 | 3.4 |
Issuance of Fixed Transmission Rights | 5.9 | 5.4 | ||
Unrealized gains included as a regulatory liability/asset | 5.1 | 6.1 | 6.8 | 9.4 |
Settlements | (6.7) | (6.7) | (11.1) | (13.9) |
Balance as of September 30, | 4 | 4.3 | 4 | 4.3 |
Fixed Transmission Rights (FTRs) [Member] | Entergy New Orleans [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 2 | 6.7 | 1.5 | 4.1 |
Issuance of Fixed Transmission Rights | 2.8 | 7.3 | ||
Unrealized gains included as a regulatory liability/asset | 0.5 | (1.2) | 0.1 | 0.1 |
Settlements | (0.9) | (1.5) | (2.8) | (7.5) |
Balance as of September 30, | 1.6 | 4 | 1.6 | 4 |
Fixed Transmission Rights (FTRs) [Member] | Entergy Texas [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at Beginning of Period | 8 | 7.9 | 2.2 | 12.3 |
Issuance of Fixed Transmission Rights | 9.3 | 11.4 | ||
Unrealized gains included as a regulatory liability/asset | (1.1) | 7.3 | 2.3 | (8.7) |
Settlements | (1.8) | (10.9) | (8.7) | (10.7) |
Balance as of September 30, | $ 5.1 | $ 4.3 | $ 5.1 | $ 4.3 |
Risk Management and Fair Valu59
Risk Management and Fair Values (Schedules Of Valuation Techniques) (Details) $ in Millions | Sep. 30, 2016USD ($) |
Range From Average Percentage for Electricity Options | 9.00% |
Range from Average Percentage for Fair Value of Electricity Swaps | 4.00% |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Swaps | $ 7 |
Effect of Significant Unobservable Inputs on Fair Value of Electricity Options | 4 |
Fair Value of Electricity Options | 5 |
Fair Value of Electricity Swaps | $ 90 |
Decommissioning Trust Funds (Na
Decommissioning Trust Funds (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Decommissioning Trust Funds [Abstract] | |||||
Receivables recorded for beneficial interests in decommissioning trust funds | $ 1,500,000 | $ 1,500,000 | |||
Decommissioning Fund Investments | 5,671,074 | 5,671,074 | $ 5,349,953 | ||
Deferred taxes on unrealized gains/(losses) recorded in OCI for non-regulated decommissioning trusts | 400,000 | 342,000 | |||
Amortized cost of debt securities | $ 2,199,000 | $ 2,199,000 | 2,124,000 | ||
Average coupon rate of debt securities | 3.19% | 3.19% | |||
Average duration of debt securities, years | 5 years 11 months 14 days | ||||
Average maturity of debt securities, years | 9 years 4 months 22 days | ||||
Proceeds from the dispositions of debt securities | $ 564,000 | $ 539,000 | $ 1,797,000 | $ 1,488,000 | |
Gains from dispositions of debt securities, gross | 6,000 | 13,000 | 26,000 | 58,000 | |
Losses from dispositions of debt securities, gross | 1,000 | 4,000 | 6,000 | 7,000 | |
Entergy Arkansas [Member] | |||||
Decommissioning Trust Funds [Abstract] | |||||
Decommissioning Fund Investments | 823,816 | 823,816 | 771,313 | ||
Amortized cost of debt securities | $ 308,400 | $ 308,400 | 301,800 | ||
Average coupon rate of debt securities | 2.63% | 2.63% | |||
Average duration of debt securities, years | 5 years 2 months 17 days | ||||
Average maturity of debt securities, years | 5 years 11 months 20 days | ||||
Proceeds from the dispositions of debt securities | $ 61,200 | 44,000 | $ 165,000 | 190,800 | |
Gains from dispositions of debt securities, gross | 400 | 400 | 1,600 | 5,800 | |
Losses from dispositions of debt securities, gross | 40 | 100 | 300 | 100 | |
Entergy Louisiana [Member] | |||||
Decommissioning Trust Funds [Abstract] | |||||
Decommissioning Fund Investments | 1,124,821 | $ 1,124,821 | 1,042,293 | ||
Percentage Interest in River Bend | 30.00% | ||||
Amortized cost of debt securities | $ 419,200 | $ 419,200 | 399,200 | ||
Average coupon rate of debt securities | 3.83% | 3.83% | |||
Average duration of debt securities, years | 5 years 8 months 20 days | ||||
Average maturity of debt securities, years | 11 years 4 months 22 days | ||||
Proceeds from the dispositions of debt securities | $ 54,700 | 28,400 | $ 178,200 | 93,600 | |
Gains from dispositions of debt securities, gross | 400 | 200 | 3,000 | 1,700 | |
Losses from dispositions of debt securities, gross | 100 | 100 | 200 | 300 | |
System Energy [Member] | |||||
Decommissioning Trust Funds [Abstract] | |||||
Decommissioning Fund Investments | 764,903 | 764,903 | 701,460 | ||
Amortized cost of debt securities | $ 302,300 | $ 302,300 | $ 270,700 | ||
Average coupon rate of debt securities | 1.79% | 1.79% | |||
Average duration of debt securities, years | 5 years 2 months 6 days | ||||
Average maturity of debt securities, years | 6 years 3 months 27 days | ||||
Proceeds from the dispositions of debt securities | $ 103,500 | 163,400 | $ 392,900 | 325,400 | |
Gains from dispositions of debt securities, gross | 700 | 2,400 | 3,200 | 3,200 | |
Losses from dispositions of debt securities, gross | 60 | $ 200 | 400 | $ 300 | |
NYPA [Member] | |||||
Decommissioning Trust Funds [Abstract] | |||||
Decommissioning Fund Investments | $ 1,500,000 | $ 1,500,000 |
Decommissioning Trust Funds (Se
Decommissioning Trust Funds (Securities Held) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | $ 5,671 | $ 5,350 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,662 | 1,437 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 3 | 19 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 3,380 | 3,195 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,568 | 1,396 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1 | 2 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 2,291 | 2,155 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 94 | 41 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 2 | 17 |
Entergy Arkansas [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 823.8 | 771.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 274.2 | 238.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.3 | 2.4 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 504.9 | 467.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 263.4 | 234.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 318.9 | 303.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 10.8 | 4.1 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.3 | 2.2 |
Entergy Louisiana [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 1,124.8 | 1,042.3 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 344.3 | 296.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.4 | 2.6 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 684.7 | 632.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 322.9 | 283.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 0.2 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 440.1 | 409.9 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 21.4 | 13.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.4 | 2.4 |
System Energy [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 764.9 | 701.5 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 212.2 | 181.4 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.4 | 2.6 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 456.3 | 423.7 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 205.5 | 179.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0.1 | 0.3 |
System Energy [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 308.6 | 277.8 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 6.7 | 2.2 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0.3 | $ 2.3 |
Decommissioning Trust Funds (Av
Decommissioning Trust Funds (Available For Sale Securities Continuous Unrealized Loss Position Fair Value) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | $ 13 | $ 54 |
More than 12 months Fair Value | 0 | 1 |
Total Fair Value | 13 | 55 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1 | 2 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 266 | 1,031 |
More than 12 months Fair Value | 23 | 61 |
Total Fair Value | 289 | 1,092 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 2 | 17 |
Entergy Arkansas [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0.9 | 7.8 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 0.9 | 7.8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 0.2 |
Entergy Arkansas [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 32.5 | 111.4 |
More than 12 months Fair Value | 0 | 18.5 |
Total Fair Value | 32.5 | 129.9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.3 | 1.7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0.5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.3 | 2.2 |
Entergy Louisiana [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 2.3 | 9.4 |
More than 12 months Fair Value | 0 | 0 |
Total Fair Value | 2.3 | 9.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | 0.2 |
Entergy Louisiana [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 32.5 | 124 |
More than 12 months Fair Value | 6.5 | 7.4 |
Total Fair Value | 39 | 131.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.2 | 2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.2 | 0.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.4 | 2.4 |
System Energy [Member] | Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 0.8 | 8.3 |
More than 12 months Fair Value | 0 | 0.9 |
Total Fair Value | 0.8 | 9.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.1 | 0.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0.1 | 0.3 |
System Energy [Member] | Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 81.4 | 200.4 |
More than 12 months Fair Value | 1 | 5 |
Total Fair Value | 82.4 | 205.4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.2 | 2.2 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.1 | 0.1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0.3 | $ 2.3 |
Decommissioning Trust Funds (Fa
Decommissioning Trust Funds (Fair Value Of Debt Securities By Contractual Maturities) (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Fair value of debt securities by contractual maturities | ||
Less than 1 year | $ 102 | $ 77 |
1 year - 5 years | 812 | 857 |
5 years - 10 years | 743 | 704 |
10 years - 15 years | 128 | 124 |
15 years - 20 years | 62 | 50 |
20 years+ | 444 | 343 |
Total | 2,291 | 2,155 |
Entergy Arkansas [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 8.8 | 1.8 |
1 year - 5 years | 123.5 | 145.2 |
5 years - 10 years | 166.1 | 138.5 |
10 years - 15 years | 9.5 | 2.4 |
15 years - 20 years | 1.1 | 2 |
20 years+ | 9.9 | 14 |
Total | 318.9 | 303.9 |
Entergy Louisiana [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 25 | 27.1 |
1 year - 5 years | 102.3 | 124 |
5 years - 10 years | 121.5 | 114.3 |
10 years - 15 years | 51 | 39.3 |
15 years - 20 years | 31.1 | 26.5 |
20 years+ | 109.2 | 78.7 |
Total | 440.1 | 409.9 |
System Energy [Member] | ||
Fair value of debt securities by contractual maturities | ||
Less than 1 year | 3 | 2 |
1 year - 5 years | 192.6 | 181.2 |
5 years - 10 years | 76.2 | 63 |
10 years - 15 years | 3.5 | 4.4 |
15 years - 20 years | 1.5 | 1.6 |
20 years+ | 31.8 | 25.6 |
Total | $ 308.6 | $ 277.8 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |
Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Regulatory Liability, Noncurrent | $ 1,525,897 | $ 1,414,898 | |
Income tax benefit resulting from 2010-2011 IRS audit associated with Act 55 financing | $ 63,500 | ||
Reduction in income tax expense related to permanent difference for nuclear decommissioning liability, net of unrecognized tax benefits | 238,000 | ||
Entergy Arkansas [Member] | |||
Regulatory Liability, Noncurrent | 292,545 | 242,913 | |
Entergy Louisiana [Member] | |||
Proceeds received from LURC related to Act 55 financing not taxable | 148,600 | ||
Regulatory Liability, Noncurrent | 849,470 | 818,623 | |
Unrecognized Tax Benefits | 564,700 | 796,900 | |
Income tax benefit resulting from 2010-2011 IRS audit associated with Act 55 financing | 61,600 | ||
Income tax benefit resulting from 2010-2011 IRS audit related to Vidalia purchased power agreement | 74,500 | ||
Regulatory liability for customer savings associated with Act 55 financing | 16,100 | ||
Regulatory liability for customer savings associated with Act 55 financing, net of tax | $ 9,900 | ||
System Energy [Member] | |||
Regulatory Liability, Noncurrent | $ 365,302 | $ 337,424 |
Property, Plant, And Equipment
Property, Plant, And Equipment (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2016 | Dec. 31, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Construction expenditures in accounts payable | $ 175,800 | $ 175,800 | $ 234,000 | ||||
Impairment of Long-Lived Assets Held-for-use | 33,170 | $ 1,642,204 | |||||
Asset Write-Offs, Impairments, And Related Charges | 18,841 | $ 1,642,204 | 33,170 | $ 1,642,204 | |||
Entergy Arkansas [Member] | |||||||
Construction expenditures in accounts payable | 21,700 | 21,700 | 43,000 | ||||
Entergy Louisiana [Member] | |||||||
Construction expenditures in accounts payable | 75,500 | 75,500 | 68,600 | ||||
Impairment of Long-Lived Assets Held-for-use | $ 16,000 | ||||||
Cash payment representing the purchase price to acquire the undivided interests in Waterford 3 | $ 60,000 | ||||||
Portion of Waterford 3 purchase price satisfied through issuance of debt | $ 52,000 | ||||||
Entergy Mississippi [Member] | |||||||
Construction expenditures in accounts payable | 4,500 | 4,500 | 11,400 | ||||
Entergy New Orleans [Member] | |||||||
Construction expenditures in accounts payable | 1,000 | 1,000 | 1,500 | ||||
Entergy Texas [Member] | |||||||
Construction expenditures in accounts payable | 8,000 | 8,000 | 33,100 | ||||
System Energy [Member] | |||||||
Construction expenditures in accounts payable | $ 12,700 | $ 12,700 | $ 6,800 |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Waterford Three [Member] | Entergy Louisiana [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Payments on lease, including interest | $ 7.8 | $ 7.8 | $ 16.9 | $ 28.8 |
Percentage In Power Plant Previously Owned By VIE | 9.30% | |||
Grand Gulf [Member] | System Energy [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Payments on lease, including interest | $ 8.6 | $ 14.6 | $ 17.2 | $ 52.3 |
Percentage in power plant owned by VIE | 11.50% |
Acquisitions Acquisitions (Narr
Acquisitions Acquisitions (Narrative) (Details) $ in Thousands | 1 Months Ended | 9 Months Ended | |
Mar. 31, 2016USD ($)MW | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | |
Payments to Acquire Property, Plant, and Equipment | $ (949,329) | $ 0 | |
Union Power Station [Member] | |||
Capacity Per Power Block | MW | 495 | ||
Payments to Acquire Property, Plant, and Equipment | $ (949,000) | ||
Capacity Of Power Plant Unit | MW | 1,980 | ||
Entergy Arkansas [Member] | |||
Payments to Acquire Property, Plant, and Equipment | $ (237,000) | (237,324) | 0 |
Entergy Arkansas [Member] | Union Power Station [Member] | |||
Percentage of Undivided Ownership Interest | 25.00% | ||
Payments to Acquire Property, Plant, and Equipment | $ (237,324) | ||
Power Blocks Purchased | 1 | ||
Entergy Louisiana [Member] | |||
Payments to Acquire Property, Plant, and Equipment | $ (474,000) | (474,670) | 0 |
Entergy Louisiana [Member] | Union Power Station [Member] | |||
Percentage of Undivided Ownership Interest | 50.00% | ||
Payments to Acquire Property, Plant, and Equipment | $ (474,670) | ||
Power Blocks Purchased | 2 | ||
Entergy New Orleans [Member] | |||
Payments to Acquire Property, Plant, and Equipment | $ (237,000) | $ (237,335) | $ 0 |
Entergy New Orleans [Member] | Union Power Station [Member] | |||
Percentage of Undivided Ownership Interest | 25.00% | ||
Payments to Acquire Property, Plant, and Equipment | $ (237,335) | ||
Power Blocks Purchased | 1 |
Asset Retirement Obligations (N
Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | ||
Jun. 30, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | |
Asset Retirement Obligations, Noncurrent | $ 6,101,283 | $ 4,790,187 | |
Entergy Wholesale Commodities [Member] | Vermont Yankee [Member] | |||
NRC allowed future spent fuel management costs to be paid from Vermont Yankee decommissioning trust fund | $ 225,000 |